Seth Klarman Quotes:
Ocupation: Author
Life: b. May 21, 1957
Birthday: May 21
When excesses such as lax lending standards become widespread and persist for some time, people are lulled into a false sense of security, creating an even more dangerous situation. In some cases, excesses migrate beyond regional or national borders, raising the ante for investors and governments. These excesses will eventually end, triggering a crisis at least in proportion to the degree of the excesses. Correlations between asset classes may be surprisingly high when leverage rapidly unwinds.
topic: Creating, Dangerous Situations, Government, Lax, Migrate, False Sense Of Security, National Borders
