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Actuarial Warfare: How Seven Insurance Letters Closed the Strait of Hormuz
(
shanakaanslemperera.substack.com
)
7 points
by
throw0101c
4 months ago
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1 comment
fuzzfactor
4 months ago
[–]
Moneyquote:
>When verification cost exceeds haircut, the market seizes regardless of actual loss probability.
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>When verification cost exceeds haircut, the market seizes regardless of actual loss probability.