You can enable subtitles (captions) in the video player
Hello, I'm Katie Martin. As you may have read online, I'm the founder and chief investment officer at Vomiting Camel Asset Management, except I'm not. This whole thing has got out of hand.
The vomiting camel -
A vomiting camel -
The vomiting camel.
This is how the vomiting camel works.
Vomiting camel formation -
In the interest of fighting the scourge of fake news, the FT needs to put the record straight. This tale starts with technical analysis, a very serious discipline for very serious people in financial markets, that involves looking at charts, drawing lines on the charts, spotting patterns in the charts, and deciding the patterns mean that the market is heading either up or down. Ah, a head and shoulders pattern, bearish. A death cross, super bearish. And itchy marcu cloud - well, the market must be range bound. A cup and handle formation, now that's bullish. I'm not even joking.
So a few years ago I started drawing vomiting camels onto charts - they're bearish, you know - and tweeting them out, just for fun. It's just a joke. To my genuine surprise, some people seem to have taken this a little too seriously. In 2014, CNBC pointed out that a vomiting camel formation had appeared in gold.
The camel will then go off the cliff into the splat zone.
Now, bitcoin enthusiasts have picked up on that report and they're describing me online as the head of Vomiting Camel Asset Management. They're even teaching people to spot the pattern for themselves.
Your first hump of the camel, right - now the second hump. Then it just starts throwing up.
The serious lesson here is to take pretty patterns drawing on charts with a bit of a pinch of salt. Personally, I'm wondering how to put the vomit back in the camel. I fear it may be too late.