My FT Op-Ed: Beware pools of liquidity: they could be a mirage

I recently wrote an op-ed for the FT on a topic that I feel is neglected by many. The FT link is here and here’s the piece:

E-trading, shrunken market-makers and retreating central banks is a triple threat

A cynic would say that investors know the price of everything and the value of nothing. But the reality could be much worse because they may not even know the price. For decades, investors, policymakers and academics have taken financial market prices as the critical gauge for the overall expectations on the economy and company performance.

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