“…This effect is well-known and forms the basis of the anisotropic optical properties of ferrofluids subjected to an external field. Since the first discovery of magnetic birefringence and dichroism in these liquids [18,19], substantial research efforts have been focused on elucidating the origin of the magneto-optical properties and exploring their possible application as active optical devices, such as shutters, switches, polarizers and phase-changing elements [20][21][22][23][24][25][26][27][28][29][30].…”