How can we tell if someone is a scientific crank? Gardner offers this advice: (1) “First and most important of these traits is that cranks work in almost total isolation from their colleagues.” Cranks typically do not understand how the scientific process operates—that they need to try out their ideas on colleagues, attend conferences and…
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Sprinters who have taken on Usain Bolt in the 100-meter dash often describe a moment in the second half of the race when the world’s fastest-ever human just runs away from them. One minute they are shoulder-to-shoulder with Bolt, believing that this will be the nightthe legend will be toppled. The next they are staring…
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Now that I have settled in following my trip to Sydney I have had a chance to unpack and to clear out my junk mail folder. My junk mail folder is used to collect any manner of financial dross and it is a veritable treasure trove of hyperbole, breathless overstatement with a slight dash of…
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Courtesy of the good Dr Joe via Business Insider
The most scenic way to find truth on the internet is to drive north of Los Angeles on the Pacific Coast Highway, blue ocean foaming to the left, sunlit hills cresting to the right, until Malibu Canyon Road, where you take a sharp right and wind for a few miles through the oak-lined knolls and…
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The chart below has been doing the rounds today. It shows the S&P 500 versus analysts expectations for the index, as you can see analysts are a wildly optimistic bunch. Source – Bloomberg The reasons this has caused so much angst is that it now seems to portray Wall Street as being bearish because the…
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Using tools gleaned from behavioral economics to help people make better decisions is all the rage these days. This work is built on the theory that behavioral biases – like the sunk cost fallacy, status quo bias, or the tendency to give outsize attention to very unlikely events – are cognitive mistakes that are holding…
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The numbers in this are staggering as are the number of missed opportunities. More here – Visual Capitalist.
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