Trader Admits Sad Truth – “There’s Little Upside To Believing Anything Nowadays”

Monday, May 15, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
May 15, 2017

Day after day, we are witnessing new and inexpicable shifts in the so-called stock ‘market’ and machines and men battle it out (the latter losing to the former) in the war of information overload and trend analysis. As Richard Breslow, a former FX trader and fund manager who writes for Bloomberg, wrote so pointedly, one of the, many, evil consequences of the current trading environment is that people aren’t really paying attention to what’s going on.

What looks like hyper-sensitivity to every headline and news tidbit, is merely a manifestation of the sad truth that investors have realized there’s very little upside to believing in anything. Market narratives aren’t carefully crafted as new information deepens their texture. They change as if investors are wantonly playing with the remote control on the television set.

And, of course, it only makes matters worse if risk appetite changes dramatically every Friday afternoon. No one has the fortitude to risk weekend misadventures from the various powers that be.

As a result of the poor track-record of central bank forecasting every forward-looking speech now comes with the obligatory data-dependent disclaimer. Monetary-policy rate setters feel the need to make sure we really know we live in an uncertain world. And then proceed to present seemingly precise quarter-by-quarter forecasts. Staying within their educational comfort zone with complete deniability.

The Rest…HERE

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