The Economist has produced the graphic below which does seem to perfectly illustrate the difficulties of dropping a dozen cats in a sack and then telling them to behave. There are also some interesting permutations of what would constitute a perfect European Union in the comments. Click the graphic for the article.
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I mentioned the other day that I was surprised that the Europeans were surprised that the Greeks had gone to the wall. This timeline explains why I was surprised. As you can see this is a long standing problem.
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Source – HANDBOOK OF FINANCE: VOLUME 2: INVESTMENT MANAGEMENT AND FINANCIAL MANAGEMENT, Frank J. Fabozzi, ed., John Wiley & Sons, pp. 85-111, 2008
Like many investors, Mr. Bolz’s firm had a bet against the franc in its portfolios, which lost money on the currency’s sudden surge. It hasn’t made any meaningful bets on moves in the currency in the last few months, he said. An uneasy calm has emerged as investors show more caution. Volatility has all but…
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This was attributed to Frederick R Barnard in Pinters Ink (1921). So here are 1300 give or take words on gold and one picture.
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These are some random thoughts I have been putting together following the events of last week. 1. Markets move from manic to panic within a few sessions. Those who still cling to the outdated notion that humans are rational assume that when markets transition they do so in an orderly fashion. The thinking is that…
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