Crescat Capital December 2021: Pipe Dreams And Ponzi Schemes
Crescat Capital’s commentary for the month ended December 2021, titled, “Pipe Dreams and Ponzi Schemes.” Q3 2021 hedge fund letters, conferences and more Pipe Dreams And Ponzi SchemesNormally, as part of the creative destruction process in economic downturns, the financial system gets purged of excesses. In the subsequent recovery, the health of the economy is restored in a natural way as new leadership arises from sectors and industries that are inherently different from those of the prior expansion. In the wake of some of the biggest profligacies, the disorderly unwinding of pipe dreams and ...