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founding
Feb 10, 2023Liked by Kevin Erdmann

Investors come in when regulators artificially create or suppress demand/ supply. Think zoning, zero capital required for European banks on AAA CDS, deductibility of mortgage interest and RE taxes for one group (investors), but not (beyond some point) and (here) denying access to financing (either directly, or via oversight of bank activities).

Investors just jump on opportunities when supply/ demand is regulated up/ down.

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founding
Feb 10, 2023Liked by Kevin Erdmann

Very well said!

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