From Sebastien Galy of SocGen, a quick meditation on the current state of world markets, and what seem to him as clear signs of a bubble. Why do bubbles accelerate when identified? The cost of not participating is too high as performance falls vs peers or benchmark. Timing the correction and its intensity is also much harder than participating, while I am sure a bunch of behavioral biases are at work (see James Montier books from GMO). The mad dash higher in bitcoins from 100 with multiple warni...
From Sebastien Galy of SocGen, a quick meditation on the current state of world markets, and what seem to him as clear signs of a bubble. Why do bubbles accelerate when identified? The cost of not participating is too high as performance falls vs peers or benchmark. Timing the correction and its intensity is also much harder than participating, while I am sure a bunch of behavioral biases are at work (see James Montier books from GMO). The mad dash higher in bitcoins from 100 with multiple warni...
Share this Article
Comment on this Article
Recommended
Please to comment