Two and a half years ago, University of Chicago economist Richard Thaler won the Nobel Prize for his foundational work in creating the discipline now known as behavioral economics, from which we have gotten the field of behavioral finance. We described one of Thaler’s main discoveries: “Humans are not immune Read more…
Executive Summary 1. Trade deficits aren’t the big issue with China — fraud and theft are. Some of the U.S. administration’s public comments on the trade conflict with China have focused on the trade deficit between the two countries. Wall Street Journal contributor and former Chair of the Council of Read more…
Trade Wars and Media Fears It was a disappointing February. After a seemingly relentless and exuberant rally during January, the market stumbled in February and ultimately gave back most of its gains year-to-date, although at this writing it is slightly in the green. However, our big-picture analysis continues to suggest Read more…
More Light in Dark PoolsDark pools are private trading venues, off the main exchanges, mostly run by large brokerage houses (although some are independent). On public exchanges such as the New York Stock Exchange or the NASDAQ, bids and offers are public. In dark pools, however, details of bids and Read more…
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