Bloomberg’s Generosity
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Saturday Night Cycles
The Meat of Next Week
Post-Wipeout ETF Review
A Leap Of Faith
Back in 2011/2 I was chatting to a guy on a blog and he said that the problem with gold was that the price of gold was only what someone was prepared to pay for it. I replied that he had come very close to a huge insight into nature of markets, but had failed to grasp it at the last moment. That is because the truth is that anything is only worth what someone is prepared to pay for it, and what they would be paying for it with was also only worth what someone is prepared to pay for that. To that extent markets are based on faith, rather than value, as value itself is heavily based on faith.
What does this mean? Well it means sentiment and expectation are very important, and uncertainty depresses markets, and a big shock in confidence can cause big market declines or crashes.
How is this relevant? Well there is a nice looking rally setup here at a big inflection point, but for the rally to happen markets will need to make a leap of faith.
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