The Undollar Digest

Game Theory and Crowded Trades

Doug Noland 07/13/2012 www.prudentbear.com

“Essentially free money is, basically, costless, or so the thinking goes. And if it all seems too good to be true, it’s because no one wants to delve into the true costs associated with monetary policy incentives having so maligned global financial markets.”
“’Crowded Trade Squared,’ a creature of prolonged policy interventions and incentive distortions, [...]


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