Actuarial Warfare: How Seven Insurance Letters Closed the Strait of Hormuz | Hacker News

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		Actuarial Warfare: How Seven Insurance Letters Closed the Strait of Hormuz (shanakaanslemperera.substack.com)
		7 points by throw0101c 10 days ago \| hide \| past \| favorite \| 1 comment

		help

fuzzfactor 10 days ago [–]

Moneyquote:

>When verification cost exceeds haircut, the market seizes regardless of actual loss probability.

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