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Understanding and anticipating market movements plays a critical role in current capitalist activity. Through the assessment of the present and the engagement in the unknowable future, financial-market participants create financial opportunities. At the heart of this process is the work of experts who claim to provide ‘thorough analyses’ of economic trends and market movements. In this article, I illustrate how analysts – a powerful guild of economic experts – capitalise on ‘feeling’, individualised strategies and storytelling to come up with explanatory narratives about possible future market scenarios. In doing so, I build upon the notion of speculation as a practice that is grounded in imagination and show that narrativization of such futured-oriented images is a vital – yet often neglected – process: it allows to treat the unknowable as if it was anticipatable, uncertainty as if it was calculable risk, and thus speculation as if it was ‘investment’.

Narrative Authority: Rethinking Speculation and the Construction of Economic Expertise