Category: Morgan Stanley
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Up, we win. Down, you lose…
Lehman Brothers, a prosperous investment bank founded in 1850, was at the height of its success in 2006 with revenues totaling $19 billion and over 25,000 employees. However, the bank’s aggressive expansion and risky lending practices, particularly in the housing market, led to the financial crisis of 2008. When Bear Stearns became the first victim…
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Market Concentration
(from 2 years ago) (from this week) While this topic makes for great clickbait it’s just another variation of the “this time is different” argument. Concentration is not new or different. Vilfredo Pareto noted this a long time ago. https://www.masterclass.com/articles/pareto-principle-explained Right or wrong….If an index is “too concentrated” how about we just keep cash on…