The best thing Kyle Bass has read in the last two years.

There is this great paper that I think all of you should read, it’s one of the best things I have read in the last two years. Called “The Black Swan of Cairo”. It was written for the Council on Foreign Relations. And in it, it talks about the smoothing of volatility, in heavy handed dictatorial regimes. But the analogies you can draw to all kinds of different asset classes, market places, countries, you’ll start to connect the dots as you begin to read it.

Black Swan of Cairo – Foreign Affairs

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