John Maudlin, a great financial writer and consultant, recently wrote a piece about the “Bonfire of the Absurdities”. He was using it as a financial metaphor. The actual book he was referring to is Thomas Wolfe’s “Bonfire of the Vanities.” It was written several years ago about the financial markets. I think it was made into a movie. Nevertheless, that’s not the point of this post but it is a reference marker.