ET Live! is now in the books for January, but you can catch the replay here.
At the suggestion of one of our friends and subscribers, we wanted to provide what we think are some of the best launch points for exploration of the newly published Discovery Map. The only question: do you want to explore topics in depth or see the connections between them?
Soros’s Reflexivity is another name for the Common Knowledge Game, just focused on price action narratives. We see the development of just such a price action Narrative today in macro world, one that surely makes Trader George’s ears prick up.
US Banks have a common narrative structure – two competing topics of vastly different sentiment, with one dominating market attention at any given time. Worthy of some thought going into bank earnings week.
A busier than usual week, as first quarter earnings season kicks off for banks and airlines. A few other notables in tech and energy, as well.
In this news cycle, if an issue sticks around for more than a week, you can be sure that it isn’t by accident. It’s because it represents an abstraction, and because those in influence like how that abstraction changes our behavior.
The greatest risk to your portfolio is a change in the zeitgeist. A change from deflation to inflation. A change from cooperative international games to competitive games. A change from capital markets to political utilities.
I think it’s all happening.
Distillation isn’t a process of concentration. It isn’t a natural progression. It is a violent changing of the underlying thing. So, too, is portfolio construction.
It’s easy to convince ourselves that the opposite of being narrative-driven is being data-driven. This is a lie. The most common way that narrative influences our behavior is through unadorned data, presented with the unstated implication that it is necessary, sufficient and explanatory.
Neville’s favorite links from recent months, including an interview with a collector of mathematical toys and an ode to the hack.