Heisenberg Macro The Greek poet Archilochus wrote a parable with the moral - "The fox knows many things, but the hedgehog knows one big thing." The Oxford philosopher, Isaiah Berlin, made this phrase famous in his essay titled "The Hedgehog and the Fox" in which he divided thinkers into two categories, hedgehogs and foxes. The hedgehogs base their thinking on a big idea while the foxes are more accepting of nuance and open to using different approaches to different problems. Analyzing past central bank cycles, certain actions like the response post-GFC or post-Covid, BOJ QQE after Abe’s election, Draghi OMT announcement can be distinctly characterized as hedgehog policies whereas certain other ones like delay in the Fed's 2015 hiking cycle, the Fed's mid-cycle adjustment cuts of 2019 are clearly fox-like.
The Hedgehog and the Fox
The Hedgehog and the Fox
The Hedgehog and the Fox
Heisenberg Macro The Greek poet Archilochus wrote a parable with the moral - "The fox knows many things, but the hedgehog knows one big thing." The Oxford philosopher, Isaiah Berlin, made this phrase famous in his essay titled "The Hedgehog and the Fox" in which he divided thinkers into two categories, hedgehogs and foxes. The hedgehogs base their thinking on a big idea while the foxes are more accepting of nuance and open to using different approaches to different problems. Analyzing past central bank cycles, certain actions like the response post-GFC or post-Covid, BOJ QQE after Abe’s election, Draghi OMT announcement can be distinctly characterized as hedgehog policies whereas certain other ones like delay in the Fed's 2015 hiking cycle, the Fed's mid-cycle adjustment cuts of 2019 are clearly fox-like.