Concentration Currencies Education Financial Analysis 
Musings on Markets
AUGUST 15, 2023
I was reminded of that paper a few weeks ago, when Fitch downgraded the US, from AAA to AA+, a relatively minor shift, but one with significant psychological consequences for investors in the largest economy in the world, whose currency still dominates global transactions.
Barry Ritholtz
JUNE 13, 2023
RITHOLTZ: So a lot of companies that go public then have a valuable currency they can use for acquisitions. And that could be painful, because someone will have to take the pain, even if, unlike 2008, where the risk was concentrated on banks’ balance sheet, today is much more spread across, let’s say, asset managers.
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