In Part I of Dante Aligheri’s Divine Comedy, Inferno, there goes a quote that says something to the effect of:

so full was I of slumber at that point where I abandoned the true way. (Canto I)

I am reminded of this when I read R’s Market Commentary today, in which he says this:

SGX Market Commentary
Published July 27, 2011

STOCKS
STI continues to anticipate Wall St
Index advances 15 points despite Monday retreat in US markets; turnover subdued at $1.2 billion

By R SIVANITHY
SENIOR CORRESPONDENT

ON MONDAY we discussed the possibility – also raised before in this column – that the Straits Times Index tends to move ahead of Wall Street and not necessarily in response to the US market. Whether due to institutional front-running or intelligent algorithms, this hypothesis is based on markets being mainly forward- and not backward-looking and applies most – but ...