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Johnathan Bi — Girard, Desire, and Modernity (EP.116)
Infinite Loops
The Price to Magic Ratio
An asset that has a series of cash floes attached to it is a very different beast than one that is relying on the as another friend of mine calls it, the price to magic ratio. Price to magic is essentially where every one ascribes value to the asset if and only if magical things actually occur. The other thing that is really interesting that illustrate this idea about what actually drives prices, for good or for bad, was that at the time of the south sea trading bubble, people actually wrote poems about the stock.
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