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This Is ‘The Most Intriguing, Worrying’ Factor For Volatility (Hint: It’s The Flow, Stupid)
The wire headlines were catchy.
That's Deutsche Bank's take on yesterday's Bloomberg interview with Richard Thaler, who of course won the Nobel Prize in economics this week. If you missed it, here's the clip:
Ok, so Thaler's contention is that risk assets are "napping through the riskiest moment of our lives." His words, not mine, although I agree.
As we noted yesterday in our original short post on this, the dynamic that's created this worrying state of affairs isn't a mystery. The
What if ETFs aren’t actually buying the underlying assets and just saying they are on paper like a ponzi scheme? Think about that for minute. Who’s looking at that?