Market Icons and Uncertainty in a Changing World Order: Warm Greetings from Byzantium
The Byzantine Emperor Leo III (who inaugurated the Isaurian dynasty of emperors in the Byzantine Empire) was a true reformer. Around 725 AD, he sensed that the empire was endangered from within by lawlessness (the infamous twenty prior years of anarchy), corruption,...In the Wilderness of Mirrors: The Bayesian Order, the Overton Window, Rising Uncertainty, and Expected Outcomes
Last Friday, the significant drop in consumer sentiment fueled turmoil and led the market into a downward spiral that ended the day with a 1.7% decline, wiping out almost all gains since the election on November 5th, as shown below. As our commentary two...On Sentiments, Expectations, and the Vitality of Institutions: The Role of Gold
In the commentary we published two weeks ago, we described Mr. Market as an entity that from time-to-time suffers from a manic-depressive syndrome. Yesterday, Bloomberg reported that the stock market sentiment was approaching manic level by late January, as shown...Mr. Market Meets Mr. Tamerlane at Potsdam’s AI
All of us who directly or indirectly (through a pension plan) are involvedin investing have a partner called Mr. Market. Mr. Market is the allegory that Benjamin Graham created to explain the investment world’s moods. Mr. Tamerlane is the phenomenon who became a...Sign Up for Our Publications
