by Jason Apollo Voss | 24 07 2017 | Blog, Where Markets Fail
Markets are less perfect than commonly assumed. I have discussed their inability to price unknowns; the blindness of the assumptions that underlie market activity; that the implicit presumption that market fungibility bears consequences; and that markets are not...
by Jason Apollo Voss | 30 05 2017 | Blog, Where Markets Fail
How else do markets fail? Markets are usually not systemic. Instead, from the bird’s-eye perspective of “Capitalism,” many businesses are “opportunities” in the same way that it feels good to hit yourself in the head with a hammer: It’s...
by Jason Apollo Voss | 27 03 2017 | Blog, Where Markets Fail
Have you ever lent a postage stamp to someone who rather than paying you back with an actual postage stamp, gave you the nominal amount of the stamp, say US 40¢, instead? This is aggravating because while the transaction is fungible due to the presumed exchangeability...
by Jason Apollo Voss | 08 02 2017 | Blog, Where Markets Fail
In the premiere edition of the Where Markets Fail series, I pointed out that markets are imperfect discounting mechanisms. In this installment, I demonstrate that markets assume a context entirely out of view of their participants, which can have deleterious effects...
by Jason Apollo Voss | 07 12 2016 | Blog, Where Markets Fail
I am an avid fan of capitalism as well as a critic. While I agree that markets are generally better at discounting the future than individuals, there are inherent flaws in the markets that are difficult, if not impossible, to overcome. I point out these weaknesses...
by Jason Apollo Voss | 02 10 2011 | Blog, Where Markets Fail
The only question that matters: what is going on in the financial markets right now? Here’s my attempt at an answer. Usually in investing you can trust the fundamentals that underlie the economic performance of businesses to ultimately win the day. Warren...
