“Memory does not live in minds alone. It lives wherever the past quietly limits what can happen next.” Markets are often described as forgetful. Participants change. Capital turns over. Positions are closed. News is absorbed and replaced by new...
In my recent conversation with Niels Kaastrup-Larsen, we stepped back from day-to-day market noise and looked at something more structural. The globalised world that compressed cycles, smoothed imbalances, and truncated trends is fading. In its place, we are moving...
