One of the most effective methods for changing our behaviour is to alter the level of friction we face when making a decision. If we want to encourage an action, make it simple. If we want to restrict it, put up obstacles. We use this method intuitively in our everyday life – when we are…
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In 1987, while many of his classmates at Harvard were out partying and living the stereotypical college life, a student named Ken Griffin was already focused on building his future. The 19-year-old was busy developing the skills and laying the groundwork for what would eventually become a financial empire, amongst the largest such firms in…
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Japanese billionaire Yusaku Maezawa revealed Sunday he regrets day-trading stocks and losing 4.4 billion yen (roughly $41 million) as the coronavirus pandemic fueled strong market volatility. The founder and former CEO of e-commerce firm Zozo said in a tweet he fell into the trap of short-term trading before learning more about the practice. He also lamented how…
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Macquarie Group has paid $6 million to settle a five-year legal dispute with Ballarat businessman Brendan James who accused its investment advisers of artificially inflating the price of a small mining company and encouraging him to buy more shares when it proved to be worthless. An adviser at the nation’s largest investment bank then sold…
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Two Macquarie Group executives repeatedly drugged a colleague with valium and laxatives during a business trip to South America in a “malicious” attempt to discredit him. Within hours of the dangerous prank, several photographs of the unconscious man had been emailed from Chile to Australia, where they were circulated among Macquarie stockbrokers in Melbourne and…
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