Recent swings in equity markets
Who is buying US Treasuries?
Why the Quants Aren’t Adding Up
‘Bear Market’ Is an Arbitrary Label, but Using It Can Hurt
Are Financial Markets Predictive or Reactive?
Anatole Kaletsky, Chief Economist and Co-Chairman of Gavekal Dragonomics, notes:
“Could it be that investors are so confused by political chaos that they have given up trying to anticipate what could happen next?
If so, then markets, instead of being predictive, become increasingly reactive, simply extrapolating recent events. In a world where “nobody knows anything,” investors may be no better than Hollywood moguls at predicting the future.”