it was sufficient for a savvy contrarian to "Buy when others are fearful."
European Stocks Jump Despite Industrial Production Decline
In the more connected world of today, what's the phase lead or lag between fear & market bottoms? This is important because even a horse's ass can kick you in the head if you just stand there in the wrong place.
Making Congress more democratic gradually decreased it's group intelligence [although it could still be turned around]. By analogy, has democratizing market participation altered the phase lag between reported market fundamentals and reported market fear? And in which direction?
And are inflection points in the progression of phase lags possible? Wasn't there an old soap opera with a relevant name? "As the World's Multiple Variables in Multi-Level Selection Turn at Different Rates." Or was it "As the World Churns?" That soap opera has run continuously since Imhotep's time - ported to completely different media channels.
ps: Are markets simply more open, mein Liborchen, or also more corrupt?
1 comment:
More corrupt and more politicized.
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