Run, Don't Walk
Reflexivity is like holding up a mirror to another mirror and creating an infinite feedback circle… or doom loop. In this case, a decline in asset prices actually causes further asset price declines.
Chiswick, West London
Wednesday, October 16
By Tom Dyson, Investment Director
I love charts that go back a long way. This 100-year chart from Bank of America (below) hits hard.
It shows the pick-up in y…