Legg Mason’s renowned market strategist, Michael J. Mauboussin, has published a new study, The Sociology of Markets. In this thought-provoking piece, Mauboussin says it’s important to know the sociology of financial markets – i.e. the main participants and their objectives, modus operandi, risk preferences, etc.

David Denison, the CEO of the Canada Pension Plan Investment Board, testified before two congressional subcommittees yesterday—along with representatives of sovereign wealth funds from Singapore and Norway—and urged Congress to reconsider calls for protectionist regulations the Board considers a threat to “free flow of capital.”