Going back to John Exter's inverted pyramid, once a set of dominoes is set in motion, one default begets another and another as the margin clerk requires payment of debt. As items are sold to ...

Exter's pyramid was developed by a central banker a long time ago. Things have changed drastically in the financial world, where central planners struggle to cope with issues at hand in this market.

Here is the year-to-date performance of various regions and asset classes: So far, asset classes crashed in price roughly in the order of Exter’s Pyramid. First, commodities fell sharply early ...

His most famous contribution to economic theory is “Exter’s Inverted Pyramid.” This model illustrates the hierarchy of asset classes based on risk and liquidity. At the bottom Base (Least ...