TCW Trading Secrets: “If Markets Were Stupid, Everyone Would Be Rich” by Tad Rivelle
“Experienced investors understand that capital markets are information rich, that prices “mean something”, and that “obvious” inefficiencies get arbitraged away. Yet, rather than listen to markets, the Fed has preferred to talk. Instead of allowing markets to find proper clearing levels, the Fed has insisted that it knows better whether or when to raise rates.(…)”
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