Wouldn't "be as anti-fragile as possible. Able to withstand the shocks and waves of the business cycles and come out the other side." imply you would come out the other side stronger?
Aka having more liquidity than you think you need or than your peers hold gives you optionality when shocks hit. You get to go bargain hunting while they run and hide. This makes you grow stronger from volatility, vs being harmed by it.
Yes that is true! Being liquid when others aren't does leave you in a much stronger position. If you're an investor then you have more capital to invest, if you're a company then you've survived while other companies haven't and you can gain share.
Wouldn't "be as anti-fragile as possible. Able to withstand the shocks and waves of the business cycles and come out the other side." imply you would come out the other side stronger?
Aka having more liquidity than you think you need or than your peers hold gives you optionality when shocks hit. You get to go bargain hunting while they run and hide. This makes you grow stronger from volatility, vs being harmed by it.
Yes that is true! Being liquid when others aren't does leave you in a much stronger position. If you're an investor then you have more capital to invest, if you're a company then you've survived while other companies haven't and you can gain share.