Economic situation

“Buy the Dips” and other stock market fables

Equity markets are fertile ground for speculation in the two meanings of the term: greed, and advancing theories or conjectures without firm evidence. There are two major hurdles to deriving a viable theory of the stock markets. The first is the large number of variables that can have an influence at both micro and macro … Continued

Taming “animal spirits” for the sake of future generations

The unexpected rally in equity markets post US elections has been predicated upon a sudden arousal of “animal spirits” in the wake of the new administration’s policies, namely deregulation, tax cuts and infrastructure spending. The term is closely related to Nietzsche’s idea of “will to power”, and is equally subject to spin. A naïve use … Continued