This Game of Thrones speech is a perfect metaphor for markets
We're in the long summer
Game of Thrones is likely the most-watched television show in history. It has a huge following right around the world and even if you don't watch it, the speech makes a great point about getting ahead.
In this week's episode there is a reference to a speech that was made back in season 3. In it, Littlefinger and Varys have different views of chaos. For Varys, it's something that pulls everyone down into a chasm; for Littlefinger, chaos is a ladder and an opportunity to climb.
"Chaos isn't a pit. Chaos is a ladder. Many who try to climb it fail and never get to try again. The fall breaks them. And some are given a chance to climb, but they refuse. They cling to the realm or the gods or love. Illusions. Only the ladder is real. The climb is all there is," he says.
We're in a long bull market at the moment -- the long summer. But 10 years ago the chaos was starting and many were pulled into the pit but others -- like John Paulson -- embraced the opportunities in the madness and made billions.
Times of disorder come all the time in markets -- elections, referendums, black swans. Most will run away from markets then but if you really want to get ahead, those are the times to get on the ladder.