/biz/ - Business & Finance

>>54050273
While failure to manage duration risk was part of it, I honestly think the key factor was Twitter/social media herd mentality.
Think of all the random one-off consumer staple runs that happened during COVID. Now take an area with the people most likely to still be that level of panicked, add some crypto failures the weeks before, and you get a population of people conditioned to stampede at the slightest drop of potential bad news. And well, disclosing that you have billions of losses from going all-in on long term bonds right before the steepest rape hikes in history is what one might call, "bad news".

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