‘There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.’ – Ludwig von Mises
Recent High-Risk Rally Challenges Active Managers
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LPL Research explains how high-risk stocks have outperformed at
historically extreme levels, creating performance challenges for many
actively managed funds.
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