'Physics envy': How to draw the right lessons from the coronavirus

Which frameworks can investors use to navigate markets?

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Matthew Page of Guinness Asset Management
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Matthew Page of Guinness Asset Management

Economists have long sought 'laws' of the market like the laws of nature discovered by physicists, such as gravity or electromagnetism.

Much financial theory is based on assumptions which are treated like the laws of the natural world - but lack the robustness to be considered even a theory in the scientific sense. Coronavirus is one...

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