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Superbly written. Genius stuff. Have a great 2023 !!

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well written as always. The madness of mobs triggered the views of Le Bon. May be the split personality of the schizophrenic Mr. Market, may also be characterized by Dr. Jeckyll and Mr.Hyde. Knowing , when (broadly) , when Hyde or Jeckyll is 'on' / 'at play' will help our chances to outperform.

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All I could read and feel in this post: SCHADENFREUDE! :) Stuff that people can rationalise will put analysts and quants to shame.

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"on sanity prevailing, not insanity continuing."

You sure about that? :)

Excellent essay. Thank you.

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Brilliant Anand, though the final decisions can't be through consultations and committees but having a close sensible group around is absolutely essential to staying sane, in this multiverse of markets.

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