I find this somewhat fascinating since the popular image if hedge funds is one of remorseless money making machines when in fact most are run by complete dickheads with very little ability. The selloff in most of the global markets in the third quarter heavily impacted a large number of hedge funds. In fact, not…Details
“If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on…Details
Fridays overnight action saw most world markets lift – even Greece was up. This pop in prices presents a problem for traders since markets have been ordinary for some time. Lacklustre markets such as the ones we have been experiencing have been characterized by false breaks both up and down. These false breaks have the…Details
If you have had trouble working out what the hell is going on in Europe this may or may not help. Click to image for a ferkin giant version.
I have just been reading an interview with noted psychologist Steven Pinker and three points were worth highlighting from this interview – How do you explain the decline in violence? I don’t think there is a single answer. One cause is government, that is, third-party dispute resolution: courts and police with a monopoly on the…Details
Because our impressions of how well each soldier performed were generally coherent and clear, our formal predictions were just as definite. We rarely experienced doubt or conflicting impressions. We were quite willing to declare: “This one will never make it,” “That fellow is rather mediocre, but should do O.K.” or “He will be a star.”…Details
How does last-place aversion play out with regard to redistribution? In our surveys, we asked Americans whether they supported an increase to the minimum wage, currently $7.25 per hour. Those making $7.25 or below were very likely to support the increase – after all, they would be immediate beneficiaries. In addition, people making substantially more than…Details
A bit of fun