VOL09: The Magical Properties of Money ft. David Orrell

Top Traders Unplugged

Hari Krishnan is joined today by David Orrell, to discuss the problems with using physics analogies on financial markets, the cause and effects of price impacts, David’s new book: ‘Money, Magic, and How to Dismantle a Financial Bomb’, the magical properties of money, how sentiment drives price although it is so unpredictable in nature, the similarities between weather forecasting and economics, the sustainability of money creation by central banks, and some thoughts on cognitive interference.

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In this episode, we discuss:

• How quantum physics relates to financial markets
• The mechanics behind price impacts
• David’s new book, coming out soon
• The magical characteristics of money
• The power and unpredictability of sentiment
• Weather and how it relates to financial markets
• Central bank money creation and how effective it can be
• Cognitive interference

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Episode TimeStamps:

00:00 - Intro

02:54 - Can you give us some conclusions from the research you’ve done on weather forecasting?

04:33 - Is the notion of the economic system as being something that’s mechanistic and can be controlled flawed, and if so, how?

07:12 - Do you look at different economic models and aggregate the data?

12:46 - Is there a way to limit the momentum effects of passive investing on the markets?

17:41 - Can you explain how quantum physics relates to financial markets?

23:15 - Can you give a couple of examples of cognitive interference?

28:00 - Regarding the biggest stocks in the S&P 500, is it true that if one stock is 10 times bigger than another stock, and it gets 10 times the dollar allocation, that the price impacts will be the same?

42:28 - Can you talk about your new book, and what the title means?

45:24 -Does Modern Monetary Theory relate to the quantum physics analogy of something being created from nothing?

52:30 - Do you believe that money creation by central banks is unsustainable?

57:28 - Would you say that your work implies that minor tweaks to the framework are inadequate when it comes to the economy and investing?

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