Putting on my The Big Short hat, I'm wary of the sophisticated tools Wall Street traders can now bring to bear on our most essential resource. When the CME's water market launched in late 2020, most of us were watching for Covid vaccines, but investors couldn't help but notice the $1.1 billion price tag on the first bucket of contracts. I grew up a few subway stops from Wall Street, and I've been watching its reaction to water trading. With a new wave of interest in water trading, facilitated by the Chicago Mercantile Exchange and NASDAQ listing water as a tradeable commodity, I'm very eager to get Lewis' take on what he sees. I'm a big fan of author, reporter and overall sharp-eyed observer Michael Lewis, author of Liar's Poker, The Big Short, Moneyball and other explorations of the depths of economics and humans' capacity for brilliance.and greed.
0 Comments
Leave a Reply. |