VIDEO: It’s A Turkey Market
Earlier this week, I wrote about the “Turkey” market.
What’s a “Turkey” market? Nassim Taleb summed it up well in his 2007 book “The Black Swan.”
“Consider a turkey that is fed every day. Every single feeding will firm up the bird’s belief that it is the general rule of life to be fed every day by friendly members of the human race ‘looking out for its best interests,’ as a politician would say.
On the afternoon of the Wednesday before Thanksgiving, something unexpected will happen to the turkey. It will incur a revision of belief.”
Such is the market we live in currently.
The video below walks you through my thoughts of the risks to investors currently of the “Turkey” market we have likely transitioned into.