Ravens are commonly associated with caution, if not impending doom. In the hit series Game of Thrones, the actors are heard multiple times uttering the expression: “Dark wings, dark words”, referring to the fact that urgently delivered messages by ravens are often bad news. But this image is deceptive, as it detracts from the fact that […]More Details
Last year was a volatile year for fixed income investors and there is no reason to assume it will be different in 2019. Financial markets are moving from an unusually supportive environment to a more volatile one of slower growth, reduced liquidity, and heightened political risk. In the US, the Federal Reserve continued to hike […]More Details
"He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants."
Friedrich August von Hayek