Words are cheap. Actions are expensive.
The politician says the economy is strong. Then quietly moves assets offshore. The executive says the company has a bright future. Then sells stock. The central banker says currency is sound. Then buys gold.
When words and actions conflict, believe the expensive one.
Talk is cheap. Money speaks. Risk, opportunity cost, reputation. Nobody pays that price to signal something they don’t believe.
Don’t decipher the words. Follow the money.
What people risk reveals what they think. What they say reveals what they want you to think.
When their words and wallets point in opposite directions, trust the wallet.
What expensive signals are you ignoring?