GSH Bears: How the World Learned to Short Its Own Future (and Sell Tickets to the Wreckage)
ZURICH—The first time I heard the phrase “GSH bears” I assumed it was either a typo for “gosh, bears” or some obscure crypto-token named after a ursine deity. In fact, it turns out to be the Global Synthetic Hedge—bears, plural, because nothing this catastrophically leveraged ever travels alone. Picture a flock of algorithmic grizzlies unleashed…