Securities-Based Lending, from Ed Stewart
Will the increasing popularity of securities-based lending create the next opportunity for "strong hands"? Lots of "potential energy" if certain pain points are breached, I would think.
On a related note, I've read that the super high short-term rates encouraged people to invest short-term in the early 80s, when with hindsight they should have been invested long term and locked in those 10% rates. Are super low short rates (opposite condition of early 80s) creating a mirror distortion reflected in things like securities-based lending - causing the public to lean the wrong way at the wrong time?