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Podcast: Let's Appreciate
Episode: Why Speculation Drives Markets
Description: Short-termism makes it so these boom-bust cycles have to bust at some point - we get collectively distracted by something else, and go look at that instead.
But the beautiful thing about short-termism and speculation is that it allows more capital to enter the system. And there is the potential for that capital to be directed to something more productive, and to change the lives of so many people.
Because we are humans, we are storytellers.
We know how to create fiction - we know how to live lives driven by the collective belief of assets.
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