Q: Why are you selling your stocks? A: Because everybody else is selling.

Great to be participating in conferences again. Things have changed, though. My presentation at the fifth Nordic Cyber in Finance conference today was immediately after this one. And, my slides paled in comparison. Need to up my game it seems … it’s all Ted talk style now.

Albert Einstein is reported to have said: “The definition of genius is taking the complex and making it simple.” So, how should we define the taking of the simple and making it complex? Inverted genius?

Best news I’ve see so far today …

Straight-talking from Charlie Munger on crypto … “to me it’s just dementia” …

Everything you wanted to know about the #financialstability implications of #cyberrisk but were afraid to ask 👇 ecb.europa.eu/pub/financial-…

Latest financial stability podcast. Thanks to Katie Ranger 🇪🇺🇺🇦 for the great questions and to Tamarah Shakir for sharing the burden,

Man rises to the occasion. Same procedure as every year.

Many thanks to Katie Ranger 🇪🇺🇺🇦 for spending time to talk about our work on assessing systemic cyber risk. With thanks to the Central Bank Iceland for hosting me at the Nordic Cyber in Finance Conference last September. where I learned a lot.

Efficient markets question: could the fundamentals - aka earnings prospects, properly discounted - of so many businesses have declined as drastically as this in little more than a year? No fancy statistics needed …

Edson Arantes do Nascimento, aka Pelé, 1940-2022. Still have the autograph he signed for me in 1979.

Shocked to discover the story of the Dutch 17th century Tulip mania was just that, little more than a story … and the facts were unable to prevent its’ spreading. A (plausible) story worthy of ChatGPT …. theconversation.com/tulip-mania-th…

Many surprises on this map, especially the number of people who could see themselves moving to Switzerland. Hard to draw a consistent message from it for the future of Europe. My guess is that not only does language matter but second language training is key. Thoughts?

In the annals of financial history, some things remain immutable. KAL's immortal cartoon, first in the Baltimore Sun on 17 Oct '89 after "Black Friday's" 7% Dow plunge, endures as an eternal reminder that market volatility mirrors our own mercurial human nature. #KALcartoon

Hard to disagree with that!

Very much enjoyed doing this @SUERF webcast last week on the latest issue of the ECB Financial Stability Review. Thanks to Prof Dr Ernest Gnan for chairing and Hanna Westman and Cristina Cella for the great discussion! And, we even had a #ChatGPT use case revealed this time!

The movie “Mary Poppins” will be forever remembered for the super-nanny who brings music and adventure to the lives of two neglected children. It also explains bank runs. Great to discuss the #financialstability outlook with Katie Ranger 🇪🇺🇺🇦 on #TheECBPodcast

A financial stability assessment is never complete without an analysis of resilience. The yin should balance the yang. It was a great pleasure to discuss the key findings of the latest #ECB #financialstability review with Stefania Secola.

Congratulations to Mark Carney for his victory in the contest for leader of the Canadian Liberal Party 👏 Little did I know the day this photo was taken - at a meeting of the ESRB General Board - that I would be making a presentation to not one but two G7 Prime Ministers to be.

I was relieved to see my favorite satirical illustrator, Kevin Kal Kallaugher, is still having his work published in The Economist. In view of the absurdity of his recent dismissal from the Baltimore Sun, I have no words, just this AI-generated image of Mona Lisa without a smile.