The tin-foil hats of financeSubscribe
Whilst most of my financial information comes from online news sites (Bloomberg, etc), I do occasionally drift to the dark cynical side of financial speculation where i struggle to comprehend the amount of hardened far right winged bs on these sites. I have heard everything from the economy secretly being run by Muslims, to posts encouraging users to hoard physical gold in the wake of a fiat currency crisis. Whilst the arguments for the later are much more reasoned, it is still, imo at least, quite a controversial and therefore extreme view to hold. Even when reading more reputable news sites these people seem to reappear in the comments, questioning each article with great suspicion as if the journalist is an architect of the "New World Order", or even worse: a banker.
I recognise the extremity of these views run along a gradient. Whilst I'm sure few money managers are making financial decisions based on NWO theories, how many people in professional finance positions are invested in concepts like a fiat currency fallout? Or on Russian/China/US government conspiracies? Or on banking manipulation?
Whilst I wouldn't make investment decisions on any of the above, there is certainly evidence that all of the above do exist (think LIBOR, Chinese economic data, and the Euro currency crisis).
Do these people exist in a professional context, or are they trading under a tin-foil hat in a bunker somewhere? If so, how marginal are they? And perhaps most importantly, where is the line between genuine contrarian strategy and insanity?
Would you invest in black swans?