Up until a century ago, there appears to have been a fairly equal emphasis on economic theory and observation. Although the interest in economics has probably always been a consequence of the need of the state to acquire resources, we are now at the point where the discipline of economics is both completely at the service of ideological camps and completely convinced of its own objectivity and scientific underpinnings. I have taken an interest in markets since 2008, after which my already scant regard for conventional wisdom in the modern social sciences plunged even further. I try to understand historical price behavior and see what it says about present market conditions.
Lincoln Rathnam, PhD, CFA, is an investment professional based in Singapore and
Boston. In a career spanning almost 30 years he has managed equity, debt and venture
capital portfolios and was a pioneer investor in emerging markets in the late 1980s