Every Price Gets Revisited (Arcsine Law), from Rocky Humbert
After a long journey, one notes that platinum is back at a premium to gold this morning. As I am fond of saying, every market price (except 0 and infinity) gets seen at least twice. The only uncertainties are how long it takes… and how far prices move before being revisited. Next on the arcsine law agenda (with statistical apologies to Dr. Phil): The WTI / Brent oil spread….