The ongoing saga of Valeant and its capacity to make dickheads out of apparently the hedge fund industries best and brightest intrigues me because it displays the power of the narrative over rational decision making. Consider that hedge fund managers are the highest paid individuals in the world and for their multi billion dollar salaries…Details
Not my philosophy but remarkable longevity in an industry where most are transient and leave after a few years if they have not made it big. As she nears 100, Irene Bergman has some advice for enjoying a long career on Wall Street: Don’t do anything stupid. Consider investment returns, the financial adviser at Stralem…Details
Today I wanted to share my top wealth creating insights from our premier property training event – our 5 day Wealth Retreat. You see…property money As I start preparing the curriculum for this year’s event that will be held on the Gold Coast at the end of May, I’ve been reviewing my notes from last…Details
Here is my idea for running a hedge fund – open the fund- take everyone’s money – buy an index ETF and then bugger off. I will be hailed a genius because I will trounce 99.9% of all other hedge fund managers. More hedge funds closed their doors in 2015 than at any time since…Details
What surprised me was how little space real estate occupies.
There is an old saying that goes along the lines of be careful what you wish for, it might come true. From my recent conversations with traders it seems as if this philosophy has started to creep into their psych. The local market seems to have stabilized and commodity prices seem to be moving in…Details
Although bullshit is common in everyday life and has attracted attention from philosophers, its reception (critical or ingenuous) has not, to our knowledge, been subject to empirical investigation. Here we focus on pseudo-profound bullshit, which consists of seemingly impressive assertions that are presented as true and meaningful but are actually vacuous. We presented participants with…Details
In the late 1940s, the United States air force had a serious problem: its pilots could not keep control of their planes. Although this was the dawn of jet-powered aviation and the planes were faster and more complicated to fly, the problems were so frequent and involved so many different aircraft that the air force…Details