> non-productive Speculative investments tend to get punished at the end of the cycle by losing all value, thus punishing those invested in it and restoring order.
To be precise, the investors who are left holding at the end of the cycle get punished. The early investors who got out make out like robbers.
To be precise, the investors who are left holding at the end of the cycle get punished. The early investors who got out make out like robbers.
This system incentivizes pump-and-dump.