The sun has finally brought Britain’s shoppers out of their post-Christmas gloom – a relief of sorts for those who worry about the damage that Brexit might inflict on the country’s economy. But while I’ve argued before that the despondency has been overdone, the recent spike in gasoline prices does leave cause for concern. Still, to stick with the sunshine ...

Jack Ma just sowed the seed of another decacorn – a startup worth more than $10 billion – on the Hong Kong stock exchange. Largely ignored by analysts, Alibaba Group Holding Ltd.’s health unit suddenly woke from a long hibernation last month, soaring 58 percent in two weeks to reach a market value of $8.7 billion. Most of the rally ...

Like postmodern literature that eschews conventional plot, narrative, and characters, financial markets have become increasingly abstract and remote. Volatility trading offers a good example of why this is so dangerous. In February, Goldman Sachs Group Inc. reportedly made $200 million in profit on a single day from volatility trading. Anticipating increases, Goldman purchased volatility then sold it profitably to investors ...