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cameroni999 's review for:
The Alchemy of Finance
by George Soros
I thoroughly enjoyed this short book which conveys Soros's primary market thesis - that markets are not efficient and are simply based on the reflexivity of the participants.
This has never been truer than in modern times where you have things like Dogecoin, Gamestop and various other currencies and stocks are pumping for no other reasons than the participants decided they wanted them to and cascading effects of popularity and bandwagoning, further exacerbated by the newfound global connectivity of the world. There has become a gap between fundamentals and the market. I highly expect trends like this to contain, to an even greater capacity.
Something a little surprising about the book was how deep it got outside of simply the markets and reflexivity reflecting on life and how the concept could account for various other states of affairs, especially in the final chapters.
This has never been truer than in modern times where you have things like Dogecoin, Gamestop and various other currencies and stocks are pumping for no other reasons than the participants decided they wanted them to and cascading effects of popularity and bandwagoning, further exacerbated by the newfound global connectivity of the world. There has become a gap between fundamentals and the market. I highly expect trends like this to contain, to an even greater capacity.
Something a little surprising about the book was how deep it got outside of simply the markets and reflexivity reflecting on life and how the concept could account for various other states of affairs, especially in the final chapters.