Deterministic Chaos
The origin of complexity
Latest from the Blog ….
“Too Connected to Fail”: Network Portfolio Construction
Abstract: Citation: Diversification is the cornerstone of risk-adjusted portfolio construction. Yet, despite being a well-established principle in finance, diversification has been overlooked in pairs trading strategies, which often focus solely on selecting the most cointegrated pairs in isolation from the broader market structure and without accounting for their combined behavior within a portfolio. Here, we…
Credit Market Stress and Cascading Failures
Market chatter seems to be rising reflecting growing fears credit market stress is ascending as Treasury yields fall and other economic warning signs are lighting up. Manufacturing data and labor markets are retreating and the Fed is shutting down its QT policy ahead of possible rate cuts. A bank liquidity crisis occurs when a bank…
Meet the New Boss — Same as the Old Boss?
Mark goes there: https://meaninginhistory.substack.com/p/ok-ill-go-there This morning I wrote about the possible significance of an American pope. Of course, strictly speaking, Bergoglio was the first American pope. Strictly speaking—but perhaps metaphorically speaking as well. What seems beyond doubt is that he was the first Globalist pope. Commenter Doug Hoover wrote today about events from 2013 which many may…
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