Global Matters Weekly – 12 October 2020

Ipse dixit? No, thanks
by Lorenzo La Posta, CFA

Pythagoras was a clever man: philosopher, cosmologist, musician and mathematician. His famous theorem within Euclidean geometry is one we all learn at school, despite the 2500 years that have now gone by since the man lived. His opinions were so well respected that his disciples across Magna Graecia would appeal to his assertions, rather than to evidence or reason, as a watertight argument. They would simply use the formula “ipse dixit”, literally meaning “he said so”. We, at Momentum, are no Pythagoreans and do not accept dogmatic assertions from anyone, nor do we blindly trust common knowledge. All we trust is evidence and when this is not given to us, the scavenger hunt begins.

Market Snapshot

  • A strong week for global equity markets which returned 3.6%
  • Optimism grows that a US stimulus deal will be reached
  • Brent crude oil rose 9.1% to $42.8 a barrel
  • Gold rose 1.6% to $1930.4 per ounce