New products are likely to be invented, and some of these may give rise to new and unexpected risks. Unfortunately, we often learn about the risks only after they have materialised.
It is, therefore, likely that as markets will continue to develop and innovate and as long as investors’ “animal spirits” are not harnessed by an appropriate market and institutional framework that can foster prudence and discipline, the bubbles and financial imbalances will reappear in our economies.