Regarding last boost: crucial to note the difference between
- the bonds floated by the companies acquired by private equity firms, which carry junk rating and need a lot of sophisticated hedging to own, versus
- the private equity funds themselves (the owners of the former companies), which yield fantastic returns for their investors.
But thinking about 401ks buying PE funds 😱.
Instead, I'm enjoying revisiting the sordid details of the Guitar Center case https://www.nakedcapitalism.com/2015/02/end-guitar-center.html delicious.
↑'This generation of day traders is hooked on harder drugs than in the 90s, & the internet is absolutely why. There are mimetic forces at work here. But it used to be that you experienced this pressure as “my idiot coworker got rich, I want to be successful like that, let me try this day trading thing.” Now it’s something more extreme. I have insecure friends who feel pressure to do these Davey Day Trader-inspired stunts with their trading accounts [to] affirm their own manhood or sense of self'
The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!