[yeezyszn]

Yes. And?

The alpha dynamics of a liquidity related sell-off are heavily tilted towards folks with locked up capital. Why do you think every manager and their mother has raised a distressed fund?[1]

You can have access to that return profile simply by having some capital ready to deploy as an individual, for the reasons I described above. This can add massive alpha.

[1] https://www.bloomberg.com/news/articles/2020-06-17/record-nu...

[CameronNemo]

The problem is that working class individuals are often in much more vulnerable positions than the capital class. What if I invested a portion of my emergency fund in late march, then got fired in June? Not a great place to be in.

[yeezyszn]

Yes agreed, this dynamic exacerbates inequality. No arguments from me there.