ETFs, Earnings Drift, and the Myth of Market Fairness

Every reporting season, we see the same pattern. A major company posts weaker-than-expected results, and its value plunges; the media quickly blames exchange-traded funds (ETFs) for the turmoil. The argument runs that passive investing has “broken” market discovery. It sounds neat, but it oversimplifies a complex reality. Unfortunately, this is the case with this piece…

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Why We Have Rules

In the popular imagination, traders are often portrayed as instinct-driven mavericks, reading flickering charts with a gut feel honed through adrenaline and caffeine. Movies and media amplify this mythology—traders shouting into phones, making deals on impulse, riding the chaos of the market. But the reality—at least for those who survive and thrive in the markets—is…

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