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Crowd Money: A Practical Guide to Macro Behavioural Technical Analysis by Eoin Treacy

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Chapter 18: Governance is Everything

What we will cover in this chapter

  • Emerging and developed market designations are outmoded. It is more appropriate to speak of progressing and regressing markets.
  • Governance is not an absolute designation. Whether it is improving or deteriorating is a more important judgement call.
  • Governance tends to be cyclical. Hubris is the enemy of all great success stories. It is also largely unavoidable and ensures the cyclical nature of governance.
  • If deteriorating governance coincides with loosening of regulations or aggressive monetary easing it can have a short-term bullish effect on markets but will be a long-term headwind.

DAVID FULLER HAS long professed that “in emerging markets, governance is ...

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