The Seduction of Inertia
It is often said that there is a relationship between the length of a text message that you receive and the mental stability of the person that is sending the message. Messages that run to only a few words to my mind demonstrate both an understanding of the what the technology is actually for and…
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When Does Work Actually Get Done?
If we’re going to be precise about it, work gets done at 11AM on a Monday in October. At all other times of day, we’re basically slacking from our most productive. Sustaining 8 hours-plus of intense focus year-round is more of a Herculean pipe dream than a reality of the modern day workplace. We come…
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WHEN WILL YOU PARTICIPATE IN AN ASSET PRICE BUBBLE?
Do investors holding an asset in the midst of a price bubble all come to share similar beliefs, even if they did not do so previously? Asset price bubbles are unfailingly supported by a captivating narrative, which is ‘validated’ by price movements, draws in investors and allows for traditional valuation considerations to be discarded. It…
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The Power of (Admitting Your) Mistakes
I once knew a girl whose father had, when she was just a little child, left her mother one night without warning or explanation, who grew up to be a young woman that was always seeking that absent father. She sought him in bad relationships, where neither person could give the other what they needed,…
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How Big is the Hedge Fund Industry?
Over the past 20 years, hedge funds have gained almost mythic status. Loved and loathed, they are held to be sharply distinct from the broader asset management industry. The fortunes of the best-known firms are followed with great interest. There is nothing that definitively marks hedge fund managers apart from other investment managers, however. Instead,…
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