Leverage And Its Discontents

Three blow-ups in three months: Archegos, Greensill, and Melvin Capital.

Insane leverage employed to maximize private gain, provided by lenders that can socialize losses.

We reference three archived ET notes in the podcast, linked here and taken out from behind the paywall:

The Grammar of Risk

By Our Own Petard

Oh hell, Martha, go ahead and burn yourself if you want to.

Disclosure: This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal ...

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