When Prices Stop Making Sense Extreme surges in asset prices often reveal more about human behavior than economic fundamentals. Speculative bubbles arise when markets value assets not for their intrinsic…
Financial markets have always been shaped by human behavior. Fear, greed, imitation, and overconfidence are not new forces. What is new is the speed, scale, and coordination with which these…
The year 2025 marked a defining chapter in the history of the Nairobi Securities Exchange (NSE). After several years of subdued performance, weak foreign participation, macroeconomic stress, and valuation compression,…
In financial economics, most theoretical models assume that investors assess risk using the expected utility framework. However, empirical evidence shows that individual behavior and aggregate market outcomes often deviate from…