As coronavirus fears dissipate, a massive biological calamity taking place right now has gotten next to no attention: the worst locust swarms in 70 years. This podcast (5:00) argues that an extraordinary behavioral quirk in the species known as schistocerca gregaria should be duly noted by investors because of a parallel phenomenon found in “mercator gregaria,” i.e., investors whose behavior changes from harmless to destructive overnight. We saw an example of that this week, and it’s something investors need to proactively defend against. Learn more about your ad choices. Visit megaphone.fm/adchoices