My fellow-blogger, Barbara, cleverly spotted this week’s ‘Global Traders Summit’ in Singapore. Had this blog been there, it would have mentioned the latest, apparently fool-proof, way to determine stock market turning points, based on bankers’ interest in adultery.
According to Bloomberg, the Illicit Encounters website has a major increase in traffic when either the market collapses, or has a sudden rise. Apparently, when markets are up, traders “think they can have an affair because they feel they can get away with anything. When the market hits the bottom, they are looking for a way to relieve the pressure.”
The site first came to the blog’s attention in December, when the Financial Times reported on its rather lucrative business model – a male membership fee of £119/month ($190). Now it appears to have forecasting potential too.
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