, Columnist
Gaming the Post-Peak Rates World Is No Easy Task
They may come down quickly. Spreading bets is unavoidable, given an unprecedented combination of inflationary and recessionary forces.
Markets need to think several steps ahead.
Photographer: Salah Malkawi/Getty Images EuropeThis article is for subscribers only.
To get John Authers’ newsletter delivered directly to your inbox, sign up here.
The toughest part of games of strategy is the need to think ahead. Rather than just decide your own move, you need to predict what the response will be, and how the game will change as a result. Taking a pawn is self-defeating if it leaves your queen trapped three moves later; a beautiful pot in snooker does nothing if it doesn’t leave the cue ball in a position to make another shot.