Exposing Retail Capital Directly to Principal Risk Historically Triggers Crises
Alan Waxman · What 100 Years of American Finance Tells Us About Today · Invest Like The Best · Apr 8, 2026 · at 37:28
Sixth Street CEO Alan Waxman discusses the recurring historical risks of placing retail wealth capital into illiquid, principal risk-taking assets.
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“Any time society or finance system puts, you know, wealth or retail individuals next to principal risk taking, if you look throughout history, there's, that's where problems start to happen.”
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