risk appetite is underpricing event-driven flows: reading the Cowen: Democratic tape

Useful frameworks survive longer than seasonal slogans.

When risk appetite and MEV dynamics disagree, sizing down beats inventing a clever story.

Even when feeds obsess over “TD Cowen: Democratic Congress Would Sink CLARITY Act for Two Years,” the durable question remains process versus prediction.

Most blow-ups start as comfortable consensus.

The gap between weekend thin books and stablecoins is where false confidence usually builds.

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