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Why Do We Bother? (No Time Soon)
It's weeks like this when you wonder why we even bother with markets.
Sure, there's a compelling na
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Thanks for your tireless efforts to cover this ridiculous chapter- frankly, I am just ready to move on.
Agreed.
But the real value of Mr. (not Dr ??) Heisenberg’s commentaries for me has been to open my eyes to the outsized influence of “Risk Parity” and other volatility-driven models.
For ten years it turned out that share buy-back numbers were the major if not only factor driving stocks prices. Simple supply & demand which drives any market, be it QQQs or Smoked Rubber Futures in KL, (both of which I have been privileged enough to trade in during my useless but happy enough career.) Luckily enough , I picked up on that and begrudgingly came to realize that valuations do not matter.
More recently, I owe H-berg a huge debt of gratitude for opening my eyes to the overwhelming influence of these flows.
Thanks for all of your amazingly tireless work.
The next step will be lengthening the duration of the balance sheet, to make room for more issuance by US Treasury in the long end.
Really like the new fonts and formatting. Easy on the eyes.