This is the fourth part of our Market Frameworks series. The topics discussed below build on the foundations from our Reflexivity, Liquidity Cascades, and Inelastic Markets reports. If you haven’t already, we highly recommend checking them out, as they’ll give you the background understanding and philosophical underpinnings behind many of the concepts and methodologies applied to financial markets throughout this report. Enjoy!
Introduction
When playing a new game, the first thing people usually do is learn the rules and game mechanics. Sometimes there are very few rules and the mechanics are simple. Other times, the game is more dynamic, accompanied by more complex rules and mechanics. Certain games even have different rulesets for different players. Sometimes the rules change as the game progresses. In other words, it is nearly impossible to expect a positive outcome from th
