Below, we highlight the lessons that we believe could and should have been learned from the turmoil of 2008. Some of them are unique to the 2008 melt-down; others, which could have been drawn from general market observation over the past several decades, were certainly reinforced last year. Shockingly, virtually all of these lessons were either never learned or else were immediately forgotten by most market participants.
https://www.zerohedge.com/news/2018-09-14/seth-klarman-these-are-20-forgotten-lessons-2008-crisis
