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Mirage of Liquidity
Kitab haqqında
Every time you look at your investment portfolio or real estate appraisal, you see a specific, reassuring number. We base our entire financial security on the assumption that this stated wealth can be converted into usable cash exactly when we need it most.
This assumption is the most dangerous illusion in modern finance. The numbers on your screen represent the price of the last transaction, not a guaranteed offer. When a crisis hits and everyone rushes for the exit simultaneously, market liquidity evaporates instantly, rendering «valuable» assets completely unsellable.
Mirage of Liquidity dissects the hidden mechanics of market panic and asset valuation. It explains how paper wealth is a collective hallucination that relies entirely on the continuous presence of willing buyers, and why the richest investors often find themselves cash-poor during economic shocks.
Protect yourself from the devastating shock of frozen markets. Learn how to accurately assess the true liquidity of your portfolio, diversify with accessible cash reserves, and build a financial strategy that survives the sudden disappearance of buyers.
