FTX's bust and crypto crash come with two silver linings
First, the crypto crash has not spread over into the stock market
The S&P 500 is up 5.9% in the past five trading sessions compared with a 19% drop
The rout is not as huge as the headlines suggest
"We think Bitcoin and ETH remain a too small part of the market to cause broader financial market contagion
"The FTX shortfall is still relatively small in comparison to other crypto events
Maybe that means less booms and busts, which is a positive for investors