“The market does not explode from chaos. It cracks under calm.” This piece builds directly on the insights shared in When Markets Breathe: Efficiency, Compression, and the Geometry of Fragility, our earlier article inspired by Jean-Philippe Bouchaud’s 2025 paper on...
In my latest conversation with Niels Kaastrup-Larsen on The Systematic Investor Series, we explored how markets actually build themselves, from a single trade to the fractal geometry of price. Every act in the market exerts impact. A trader buys,...
