Becasue they’re so safe, right?Once upon a time people who didn't like the looks of the stock market would liquidate into bonds or cash and wait for the storm to pass.
Today, is there any stable asset class in which an investor with a global perspective can take refuge? If not, is this the first time in modern history that such has been the case? What are the implications?
Afterthought. It's not just, and maybe not primarily, the instability off assets. Maybe modern transportation and communication make a global perspective more common than it was in the past.
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