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Premium"My Models Are Extremely Negative": Goldman's 1-Delta Desk Warns 'Reflexivity Remains Key'
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Reflexivity (the process in which something refers to, reflects on, or influences itself, creating a feedback loop between observation and the thing being observed) is a topic that popularized in finance and economics by none other than George Soros in his 1987 book 'The Alchemy of Finance'. Since then it has become a key non-linear thought process for some of the world's top investors, arguing that participants' biased perceptions and market prices form a two-way feedback loop..
