Found in 1 comment on Hacker News
kqr · 2021-07-07 · Original thread
On this subject, almost every textbook is wrong. Well, I shouldn't say wrong, but their models fail to predict and explain easily observed real-world behaviour in futures markets.

I can strongly recommend Williams' The Economic Function of Futures Markets[1]. It gave me a lot of those "ooh, now that makes more sense" experiences after having heard the faulty model used in textbooks over and over.


Fresh book recommendations delivered straight to your inbox every Thursday.