Delvewire's coverage of Markets: in-depth, with context and evidence.
Delvewire was founded by Amaya Kavya.
In 1965 India was so short of grain that its Prime Minister asked the country to skip a meal every Monday, and American wheat was being eaten almost as soon as it was unloaded. In Washington, officials were releasing it a month at a time to keep India 'worried'. The answer was a few thousand tonnes of Mexican seed, and its bill is still being paid in Punjab's groundwater.
Markets · 2026-10-02
Eleven months after two of its partners won the Nobel prize, the hedge fund Long-Term Capital Management was handed to fourteen banks in a room at the New York Fed. Its risk models were right about five years of prices. They had no way of knowing how many other firms held the same trades.
Markets · 2026-09-23
More than nine thousand American banks failed between the crash of 1929 and the banking holiday of 1933. In 1934, the first year of federal deposit insurance, nine did. Silicon Valley Bank failed in 2023 because 94 per cent of its deposits sat above the insured limit, which made running the rational thing to do.
Markets · 2026-09-18
For decades the interest rate underneath perhaps 300 trillion dollars of contracts was produced by asking a panel of bankers what they think they could have borrowed at, had they tried. Not what they did borrow. What they could have. Neither submitting the answer nor compiling it was a regulated activity in Britain until after the scandal.
Markets · 2026-09-10
The oldest share certificate in the world was found in 2010 by a student who was not looking for it. What made it a share rather than a receipt was one sentence added to the front page of a subscription ledger in the summer of 1602, and the market that sentence created produced its first bear raid within six years.
Markets · 2026-09-02
Fifteen men went up to Camp David on a Friday afternoon in August 1971 and came down on Sunday morning having ended the arrangement that had priced the world's money since the war. The story everyone tells about what set it off is not what happened.
Markets · 2026-08-26
Thirty-five fishing boats sailed up the Thames in June 2016 to make the case for leaving the European Union, on behalf of an industry that lands about a billion pounds of fish a year, in an economy of well over two trillion. Ten years on, the quota uplift they were promised is real and measurable, and so is everything it cost them.
Markets · 2026-08-22
Pets.com went from a Super Bowl advert to liquidation in nine months, and became the joke that defined an era. Except that shipping heavy bags of dog food to people's doors is now an $11.9 billion business, so the idea was fine and the timing was fatal. That gap is where bubbles live. Here is why they form, why professionals buy in knowing exactly what they are buying into, and why the word bubble may be doing less work than people think.
Markets · 2026-07-28
The firm everyone watched collapse in 2008 was 164 years old, and it started life as a shop in Alabama that let farmers pay in cotton. That is close to how the whole trade began. Nobody sat down and invented investment banking. Merchants who were already moving goods worked out that moving the money was the better business, and then spent six centuries getting better at it. Florence, Amsterdam, London, and a man who sold the American Civil War to ordinary people door to door.
Markets · 2026-07-25
A founder can be thirty billion dollars poorer by Tuesday without selling a thing. A fraud can go from billions to nothing in a year. And some of the richest people alive appear on no list at all. Net worth is a real number and a slippery one. What it measures, and what it hides.
Markets · 2026-07-16
In September 2008 a single investment bank collapsed and nearly took the global financial system with it. The story runs through subprime mortgages, a chain of bets called credit default swaps, and an insurer named AIG that had quietly promised to cover losses it could never pay.
Markets · 2026-07-07
It is remembered as an American tragedy of crashed stocks and dust-blown farms. But the slump of the 1930s circled the planet through gold, debt, and trade, threw tens of millions out of work from Berlin to Santiago, and helped clear the road to a second world war. This is the global version.
Markets · 2026-07-06
The man credited with inventing the index fund published an article in 1960 arguing it would not work, under his grandfather's name. By the time he launched his, a bank in San Francisco had been running one for five years for a luggage company's pension fund.
Markets · 2026-06-25