investing-202
Investing 202: The Perma-Bear Tax — Deconstructing Negative Carry, Index Mechanics, and the AUD Safe-Haven Paradox
Wrong market views cost money, but permanent bears lose even when right—because the instruments built to express sustained pessimism leak. For Aussie investors, currency mechanics already do part of the defensive job without the decay. Permanent pessimism is not a mindset flaw. It’s bad engineering.