July 19, 2018, 11:20 am
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1 Philippine Peso = 0.0687 UAE Dirham
1 Philippine Peso = 2.01833 Albanian Lek
1 Philippine Peso = 0.03442 Neth Antilles Guilder
1 Philippine Peso = 0.51646 Argentine Peso
1 Philippine Peso = 0.02528 Australian Dollar
1 Philippine Peso = 0.0333 Aruba Florin
1 Philippine Peso = 0.03741 Barbados Dollar
1 Philippine Peso = 1.57108 Bangladesh Taka
1 Philippine Peso = 0.03151 Bulgarian Lev
1 Philippine Peso = 0.00707 Bahraini Dinar
1 Philippine Peso = 32.75309 Burundi Franc
1 Philippine Peso = 0.01871 Bermuda Dollar
1 Philippine Peso = 0.02527 Brunei Dollar
1 Philippine Peso = 0.12832 Bolivian Boliviano
1 Philippine Peso = 0.07203 Brazilian Real
1 Philippine Peso = 0.01871 Bahamian Dollar
1 Philippine Peso = 1.27899 Bhutan Ngultrum
1 Philippine Peso = 0.19255 Botswana Pula
1 Philippine Peso = 374.4856 Belarus Ruble
1 Philippine Peso = 0.03737 Belize Dollar
1 Philippine Peso = 0.02464 Canadian Dollar
1 Philippine Peso = 0.01868 Swiss Franc
1 Philippine Peso = 12.20576 Chilean Peso
1 Philippine Peso = 0.12563 Chinese Yuan
1 Philippine Peso = 53.5578 Colombian Peso
1 Philippine Peso = 10.55649 Costa Rica Colon
1 Philippine Peso = 0.01871 Cuban Peso
1 Philippine Peso = 1.77142 Cape Verde Escudo
1 Philippine Peso = 0.41506 Czech Koruna
1 Philippine Peso = 3.32024 Djibouti Franc
1 Philippine Peso = 0.11972 Danish Krone
1 Philippine Peso = 0.93303 Dominican Peso
1 Philippine Peso = 2.19981 Algerian Dinar
1 Philippine Peso = 0.25129 Estonian Kroon
1 Philippine Peso = 0.33389 Egyptian Pound
1 Philippine Peso = 0.51106 Ethiopian Birr
1 Philippine Peso = 0.01606 Euro
1 Philippine Peso = 0.03917 Fiji Dollar
1 Philippine Peso = 0.01429 Falkland Islands Pound
1 Philippine Peso = 0.01431 British Pound
1 Philippine Peso = 0.08962 Ghanaian Cedi
1 Philippine Peso = 0.88982 Gambian Dalasi
1 Philippine Peso = 168.66816 Guinea Franc
1 Philippine Peso = 0.14005 Guatemala Quetzal
1 Philippine Peso = 3.88103 Guyana Dollar
1 Philippine Peso = 0.1468 Hong Kong Dollar
1 Philippine Peso = 0.44747 Honduras Lempira
1 Philippine Peso = 0.1187 Croatian Kuna
1 Philippine Peso = 1.26057 Haiti Gourde
1 Philippine Peso = 5.20183 Hungarian Forint
1 Philippine Peso = 269.36027 Indonesian Rupiah
1 Philippine Peso = 0.06796 Israeli Shekel
1 Philippine Peso = 1.28159 Indian Rupee
1 Philippine Peso = 22.25963 Iraqi Dinar
1 Philippine Peso = 813.69248 Iran Rial
1 Philippine Peso = 1.99588 Iceland Krona
1 Philippine Peso = 2.43547 Jamaican Dollar
1 Philippine Peso = 0.01325 Jordanian Dinar
1 Philippine Peso = 2.11107 Japanese Yen
1 Philippine Peso = 1.8771 Kenyan Shilling
1 Philippine Peso = 1.27484 Kyrgyzstan Som
1 Philippine Peso = 75.70146 Cambodia Riel
1 Philippine Peso = 7.90311 Comoros Franc
1 Philippine Peso = 16.83502 North Korean Won
1 Philippine Peso = 21.15413 Korean Won
1 Philippine Peso = 0.00566 Kuwaiti Dinar
1 Philippine Peso = 0.01534 Cayman Islands Dollar
1 Philippine Peso = 6.4508 Kazakhstan Tenge
1 Philippine Peso = 157.22035 Lao Kip
1 Philippine Peso = 28.15189 Lebanese Pound
1 Philippine Peso = 2.98915 Sri Lanka Rupee
1 Philippine Peso = 3.00412 Liberian Dollar
1 Philippine Peso = 0.24822 Lesotho Loti
1 Philippine Peso = 0.05703 Lithuanian Lita
1 Philippine Peso = 0.01161 Latvian Lat
1 Philippine Peso = 0.02573 Libyan Dinar
1 Philippine Peso = 0.17723 Moroccan Dirham
1 Philippine Peso = 0.31076 Moldovan Leu
1 Philippine Peso = 0.98373 Macedonian Denar
1 Philippine Peso = 26.78638 Myanmar Kyat
1 Philippine Peso = 45.80995 Mongolian Tugrik
1 Philippine Peso = 0.15122 Macau Pataca
1 Philippine Peso = 6.64048 Mauritania Ougulya
1 Philippine Peso = 0.64347 Mauritius Rupee
1 Philippine Peso = 0.29125 Maldives Rufiyaa
1 Philippine Peso = 13.40105 Malawi Kwacha
1 Philippine Peso = 0.35353 Mexican Peso
1 Philippine Peso = 0.07589 Malaysian Ringgit
1 Philippine Peso = 0.24819 Namibian Dollar
1 Philippine Peso = 6.7153 Nigerian Naira
1 Philippine Peso = 0.58586 Nicaragua Cordoba
1 Philippine Peso = 0.15284 Norwegian Krone
1 Philippine Peso = 2.04293 Nepalese Rupee
1 Philippine Peso = 0.02753 New Zealand Dollar
1 Philippine Peso = 0.00719 Omani Rial
1 Philippine Peso = 0.01871 Panama Balboa
1 Philippine Peso = 0.06114 Peruvian Nuevo Sol
1 Philippine Peso = 0.06073 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.39618 Pakistani Rupee
1 Philippine Peso = 0.0692 Polish Zloty
1 Philippine Peso = 106.97905 Paraguayan Guarani
1 Philippine Peso = 0.06809 Qatar Rial
1 Philippine Peso = 0.07472 Romanian New Leu
1 Philippine Peso = 1.18 Russian Rouble
1 Philippine Peso = 15.95267 Rwanda Franc
1 Philippine Peso = 0.07015 Saudi Arabian Riyal
1 Philippine Peso = 0.14747 Solomon Islands Dollar
1 Philippine Peso = 0.25122 Seychelles Rupee
1 Philippine Peso = 0.33483 Sudanese Pound
1 Philippine Peso = 0.16573 Swedish Krona
1 Philippine Peso = 0.02554 Singapore Dollar
1 Philippine Peso = 0.0143 St Helena Pound
1 Philippine Peso = 0.41538 Slovak Koruna
1 Philippine Peso = 153.38571 Sierra Leone Leone
1 Philippine Peso = 10.68088 Somali Shilling
1 Philippine Peso = 393.68313 Sao Tome Dobra
1 Philippine Peso = 0.16367 El Salvador Colon
1 Philippine Peso = 9.633 Syrian Pound
1 Philippine Peso = 0.24845 Swaziland Lilageni
1 Philippine Peso = 0.62252 Thai Baht
1 Philippine Peso = 0.04952 Tunisian Dinar
1 Philippine Peso = 0.04351 Tongan paʻanga
1 Philippine Peso = 0.08966 Turkish Lira
1 Philippine Peso = 0.12587 Trinidad Tobago Dollar
1 Philippine Peso = 0.57159 Taiwan Dollar
1 Philippine Peso = 42.49906 Tanzanian Shilling
1 Philippine Peso = 0.49158 Ukraine Hryvnia
1 Philippine Peso = 69.56977 Ugandan Shilling
1 Philippine Peso = 0.01871 United States Dollar
1 Philippine Peso = 0.58277 Uruguayan New Peso
1 Philippine Peso = 145.09914 Uzbekistan Sum
1 Philippine Peso = 2239.05724 Venezuelan Bolivar
1 Philippine Peso = 431.12608 Vietnam Dong
1 Philippine Peso = 2.04265 Vanuatu Vatu
1 Philippine Peso = 0.04883 Samoa Tala
1 Philippine Peso = 10.52881 CFA Franc (BEAC)
1 Philippine Peso = 0.05051 East Caribbean Dollar
1 Philippine Peso = 10.52881 CFA Franc (BCEAO)
1 Philippine Peso = 1.90591 Pacific Franc
1 Philippine Peso = 4.67265 Yemen Riyal
1 Philippine Peso = 0.24818 South African Rand
1 Philippine Peso = 97.07258 Zambian Kwacha
1 Philippine Peso = 6.76955 Zimbabwe dollar

Dogs, cats and wave theory

In the wake of February’s downturns on Wall Street and the New York Stock Exchange (NYSE) that spawned serial crashes of capital markets all over the world, deservedly smug Elliot Wave theorists started keying in on their tablets their versions of “I-told-you-so’s”, their doomsday predictions apparently vindicated and validated by what appears as the start of a great cyclical depression not since experienced since almost a decade ago.

The last time we looked the Dow Jones Industrial Average was still down. So was Standard and Poor’s (S&P) 500 though the latter not quite as low. Smaller stocks at NASDAQ recovered and so did Japan’s Nikkei 225 somewhat and Europe’s Stoxx Europe 600. But the United Kingdom’s FTSE 100 was still on a downward trend.

To explain wave theory, or the world according to Elliot -- a credible sub-sector of analytical hypotheses employed by a select group of economic forecasters who study and divine historic cycles rather than linear events to predict the future -- allow us a bit of light-hearted humor before we jump into gobbledygook terminology and technicalities.

We received the following in one of our social media inboxes shared among a group of Ateneans, stock analysts and investment bankers. Viber posts, like Tweets, WhatsApp and Facebook entries are raw, unadulterated, sometimes anonymous. This one however mirrors some if not all of the critical movements in the economic environment surrounding the capital markets. 

We decided to take this one seriously. 

Besides, it’s funny. It provides a light skinny on the superiority of economic wave theories over the longer haul and over most linear models used by government economists. Moreover, far more relevant, it explains the complexity of the recent capital market crisis.

The post stated a distinctly linear depiction of capital market activity that results from immediately proximate predicates: 

“The volatile stock market affects human beings and their best friends. Last month, the market was good and my dog ate what I ate. Last week, the market a bad, so I ate what my dog ate. Yesterday, the market crashed, so I ate my dog.”

“After three days, I ate my neighbor’s dog after he ate my cat.”

“The lesson of the story - Hunger triggers wars.”

Technically when we think of forecasting techniques the foregoing exemplifies the kind of methodology employed by most economists. The methodology of choice is linear. It’s easy. It simply picks up from points recently left off. It then factors in present variables that might change the course, if there are any. In the foregoing, one unexpected variable was the cat we previously did not know existed.

In linear mathematics there are only two axes, the X and the Y. When a line is drawn those are in relation to X and Y. When a slope is drawn those are coordinates lying along the hypotenuse whose value is determined by the Pythagorean Theorem. As confusing as this is starting to sound, it is still very basic and still very simple. Even Pythagoras referred only to X and Y.

When a variable comes out of nowhere and starts shifting what should have been a straight line such as the unexpected appearance of the cat that was not in the original picture then the influence tends to create a slope. One might imagine the slope to complicate matters. It doesn’t. A slope is merely the sum of different hypotenuse, all computed by the Pythagorean Theorem successively. It’s still linear and two- dimensional.

Even where it slopes and curves, a line is subject only to runs and rises. It is not the same should a circle be plotted. More variables enter the picture such as the infinite coordinates along the circumference of a circle, the diameter and radius, not to speak of Pi. Following the obvious linear thinking paradigm where causality is based on previous events, most economic forecasters simply draw a line and extend that into the near and foreseeable future.

Economists who base their forecasts on circles and cycles however are allowed far longer views into both the future and the past. For businessmen and for those whose horizons extend farther than the next year these allow for greater relevance. Here’s why

The logic of cycles, while employing a great deal more variables than do simplistic linear models assumes that certain events repeat. A circle comes around and cycles come full circle. While cyclical forecasters admit that an event cannot repeat at exactly the same point they introduce the concept of progression. Thus there are expansions of the circle. What mathematicians might describe as expanding cycles.

While the basic Pythagorean Theorem rules slopes, rises and runs for linear forecasting, where economic cycles are concerned, we turn to the Fibonacci sequence.

The Fibonacci formula determines the next value in a cyclical sequence and is a phenomenon  that is constant in nature such as natural cycles found in flora and fauna. The sequence is seen in plants such as the branching of trees or the spirals of sunflowers. You also see the very same pattern in galaxies and nebulae. In the animal world, the very same equation is found in shellfish, mollusks as well as in the appendages of living creatures.

The sequence is so constant that it can be relied upon as a rule.

By applying the Fibonacci sequence to economic events, wave forecasters are able to extend their perspective much farther than linear economists. And because the sequence has an expansion factor through the Fibonacci Formula, not only can wave forecasters predict events with a great deal of accuracy but they can likewise determine its severity and impact thus establishing wave theory as more relevant for a businessman’s longer term perspective.
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