🍋 Markets and Their Failures

Adam Smith's invisible hand meets its limits: what happens to a market when buyers cannot tell a good deal from a bad one.

The Steps

  1. 1. Adam Smith
  2. 2. The Market for Lemons: Why the Market Trusts No One
  3. 3. The Lemons Problem
  4. 4. Private Credit's Zero-Loss Story
  5. 5. The Fund That Never Loses