The Illusions Markets Believe

Ledger Domain

The cognitive traps, behavioral patterns, and strategic illusions that shape how markets move. Finding signal in the noise of human decision-making.

behavioral finance

The Consensus Factory

How Wall Street's earnings estimates became a coordination game — and why 'beat by a penny' tells you nothing about the company that just reported. A ...

2026-03-15By Equicurious

behavioral finance

The Twelve-Dollar Prophets

In 1999, two academics built a stochastic model that valued Amazon at $12.42. The market said $76. Then the market lost 92%. This is the story of the ...

2026-03-13By Equicurious