Do markets really move as suddenly as the headlines suggest?

Short-term explanations often dominate during periods of uncertainty. They may contain elements of truth, but they rarely explain the full picture.

🚀 SpaceX and xAI are merging to create the biggest IPO in history! The master plan?

Space-based AI data centres powered by unlimited solar energy and with zero water-cooling costs!

JP Morgan manipulating silver? Make billions, pay fine in millions.

Confidence is high, scrutiny is low, and the belief that nothing bad can happen takes hold.

This is how the Winner’s Curse tends to appear near the end of the cycle.