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The meanderings of the financial markets must often seem quite arbitrary to observers. One of the central theses of Yuval Noah Harari in Sapiens is that humans have climbed to the top of the evolutionary ladder by way of a predilection for story-telling. We want to make sense of things, and so we crave a narrative, ideally a linear one which proceeds according to the principles of logic. There is a natural demand on the part of investors and uninvolved onlookers alike to make sense of the apparently impenetrable. To account for the otherwise baffling Brownian motion of asset prices, financial media step in to “help” fill the void.

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