13 December 2008 - financial crocodiles

It looks as though reptiles like stocks and don’t like bonds. I can tell, because the reptile brain has taken over the minds of investors, and they are treating bonds as though every corporation in the world were about to fail, but they are perfectly willing to buy up the stock of the same outfits. I wonder how financial crocodiles like the taste of economic theorists? If you have bet your career on a strong version of the efficient market hypothesis, now would be a good time to check on your retirement funds. Oops! They’re down!