@SquidDao Without some sort of consumption mechanism, tie to fundamental value, or fiat escape valve, we basically end up with a huge amount of trapped capital.
@SquidDao Hence why it seems like a big money ball running around and you end up with “liquidity vacuums” hurting the rest of the ecosystem.
Amazing how different this Craig's Bond was from predecessors.
Less gadgets and more grit. A lot more introspection about his own life and role in the world.
And a “through line” to the whole series.
That said, I think the “Bond lifestyle” would have far less appeal if they showed the mundane parts.
Like, imagine how much time he spends packing. And schlepping a tuxedo everywhere? How much time does this man spend at a tailor? Or ironing his shirts? Just getting ready!
Also, he goes to crowded clubs and bars and yet he always gets served immediately.
@HariPKrishnan2 If questions like, “how does the flow-performance curve of bond mutual funds differ from equity funds and what are the implications for ETF pricing in a crisis,” interest you,
then this book is for you.
@HariPKrishnan2 P.S. I still think there’s “alpha” in holding bond mutual funds, and then selling them in a crisis to buy bond ETFs trading at a significant discount.