THE GAMEMASTER (STILL) WANTS A LOWER USD

Part 1 of "the 'tourist is still short USD" series

Trading is a difficult endeavour. It’s one thing to understand whether a fundamental development is positive or negative for an asset, but quite another to accurately forecast what is built into expectations. Too many folks focus on the former, with not nearly enough attention to the latter. Without understanding what’s “built into the price”, it’s impo…