Letter # 94 | 3 August 2022 | Buoyant Capital | What creates market cycles?
Global equity markets collapsed on 21 January 2008 and we had another “Black Monday”. While the financial journals believed that the markets were reacting to a possible US recession, a strange story was brewing. One relating to a compliance dude turned trading geek at a Parisian bank. In today’s ET article, we discuss the broader takeaways from that incident – and how markets are not really a sum of what all its participants think. Science has wonderfully progressed treading that path, and if we take cognisance, we as investors can immensely benefit from this phenomenon (we discuss through the ICICI Bank’s case study).
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