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We proposed the agent-based model of financial markets where agents (ortraders) are represented by three-state spins located on the plane lattice orsocial network. The spin variable represents only the individual opinion(advice) that each trader gives to his nearest neighbors. In the model theagents can be considered as cunning. For instance, although agent havingcurrently a maximal value of the spin advises his nearest neighbors to buy somestocks he, perfidiously, will sell some stocks in the next Monte Carlo step orwill occupy a neutral position. In general, the trader has three possibilities:he can buy some stocks if his opinion change within a single time step ispositive, sell some stocks if this change is negative, or remain inactive ifhis opinion is unchanged. The predictions of our model, found by simulations,well agree with the empirical universal distribution of interoccurrence timesbetween daily losses below negative thresholds following the Tsallisq-exponential.

Universality of Tsallis q-exponential of interoccurrence times within the microscopic model of cunning agents