The sad news of the passing of Roger Bannister, the first human being to run a four-minute mile, got me thinking about his legacy — not just as one of the great athletes of the past century, but as an innovator, a change agent, and an icon of success. As it turns out, when he broke…
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It is often claimed that negative events carry a larger weight than positive events. Loss aversion is the manifestation of this argument in monetary outcomes. In this review, we examine early studies of the utility function of gains and losses, and in particular the original evidence for loss aversion reported by Kahneman and Tversky (Econometrica …
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What has been the single greatest obstacle stopping you becoming financially free? Why do I ask? Well…last week I was conducting a private client function and had the good fortune to have conversations with a number of our Wealth Retreat graduates. I was talking with them about their experiences since attending our 5 day workshop,…
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