With trading in complex derivatives with global exchanges occurring in nanoseconds with high-speed computers, no one knew what was going on in real-time, and volatility in one part of the network spread very fast. According to Haldane, in the build-up to the financial crash, many bankers had ‘an exaggerated sense of knowledge and control’.
Ian Scoones
Investing
Don’t learn the wrong lessons from the Dotcom Crash
Investing: The Greatest Show On Earth
The solution to 90% of financial problems is “save more money and be more patient.” Nothing is more powerful or more capable of moving the needle. But it’s so boring. It makes you sound like a kindergartener. Smart people don’t want to devote their careers to it. They want derivatives, high-frequency trading, offshore tax shelters and The Lightning Round.
Markets
Economics
What Happens When Investment Firms Acquire Trailer Parks
Electric vehicles
Silicon valley
How to Become an Intellectual in Silicon Valley
Technology
How Facebook got addicted to spreading misinformation
Crypto
Bitcoin is a mouth hungry for fossil fuels
Oddities
The Greatest Pool Player In History Just Wanted To Hustle
Visuals
