A sideways look at economics
It’s not easy to write a coherent blog post in 39 degrees. The heat sends my mind wandering, jumping between the needs of physical hydration and vaporising ideas, resurfacing deeper reflections and vulnerabilities. One slightly contorted train of thought, however, keeps recurring.
Summer has always been a period of socialisation, bringing anxiety about changing social circles and fitting in. Moving to the UK at 16 and later to Geneva turbo-charged these anxieties, forcing me to confront them head-on. These experiences, though difficult, have led to valuable introspection that has helped turn perceived risks into opportunities.
Over these periods I grew to appreciate directness in people and became more direct myself in kicking off social interactions. This approach sought to accomplish three purposes: break down barriers, engage in meaningful dialogue and stimulate debate by stating my initial position. I’ve always hoped that this directness, coupled with a willingness to take the first step, would encourage reciprocity from like-minded individuals with diverse viewpoints. In truth, there’s an element of self-preservation about being direct: I found that laying my thoughts bare could serve as a signal to attract those with whom I’m more likely to form genuine connections.
This approach proved invaluable when life’s pace made time precious, despite seeming abundant. In cities like London, especially in my twenties, social dynamics shift rapidly. Opportunities abounded, but so did barriers to lasting friendship. The anxiety of my youth evolved into a struggle to find a signal amidst the noise of countless interactions. Directness became part of the strategy to cut through the noise and chaos. It was pivotal in forging connections that would ultimately defy time and distance, anchoring me in an ever-shifting social landscape.
My fascination with finance grew alongside the value I attached to directness. I found in markets a companion: I even anthropomorphised them to escape the office politics at an old job into ‘Ms Market’ — a hard-to-get, often misunderstood lady who offered the ultimate test in brutal honesty (below is an AI-generated depiction based on the description that follows).
You cannot turn up the charm in the hope that Ms Market will hand out her secrets and best trades; but she will be relentless in her feedback, with no respect for egos, status or chips on the shoulder. Depending on your school of thought, you might believe it futile to try to chase her, but she will definitely teach you a lesson or two if you try. Ms Market can be kind in her own way: she bears no grudges, even if you choose to ignore her. She remains fiercely independent, accessible, and coherent in her role and rules, while at times also magnanimous in her gifts. She is more likely to reward you for strong convictions, hard work and taking more risks, rather than be lured by cheap words. She is also fair, as she will not use your efforts for her own gain and she won’t blame you for more than your shortcomings. She will also never talk behind your back, even though many will do that to her. Those who try to discredit her by peddling stories of disloyalty, overcomplexity, intellectual snobbery and unreliability are more likely to be showcasing their own insecurities, entitled behaviour and hidden agendas. In reality she is incredibly social, and only ever wants to be liked for bringing people together, helping mediate difficult situations and being a loyal confidante who can listen without judgement. In practice, markets may technically be a zero-sum game, but only ex-post, as no investor goes into a trade hoping to lose. The market allows people with different perceptions of risk to come together in a mutually beneficial exchange, even if this comes at a cost to some and at different times.
I’ve developed something of a crush on Ms Market, akin to a patient’s admiration for a therapist. The one thing that Ms Market truly changed my mind about, impacting my everyday life, was understanding that directness is merely a by-product of building resilience to rejection. Rather than focusing on being direct, a better approach is to be as receptive to signals from others as I am at providing them. These mutual signals of willingness to grow and build shared narratives increase the odds of turning rejection into growth opportunities, nurturing critical thinking. Like savvy investors seeking alpha, we should prioritise connections with those who engage in this two-way exchange over those that merely validate our existing views. It’s equally crucial to be wary of those who shy away from confronting ideas, yet insist on controlling narratives about themselves and others behind the scenes — they’re the market manipulators of the social world. The real profit in life’s market comes not from avoiding every rejection, but from bouncing back stronger, armed with the resilience and critical thinking that Ms Market so brutally, yet fairly, teaches to the ones who care to listen.
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