EVEN AFTER I STARTED to make money, I still had some hang-ups: In my pantry, you’d find around 20 boxes of cereal. After eating Homebrand cardboard-tasting cereal for so many years, having yummy cereal somehow represents prosperity. I don’t mind earning the money, but I have an aversion to seeing how much money we’re forking…
IN 2004, A LUCKY SINGLE mother won $10.5 million in the Ontario lottery. Her name was Candy Adams. What did that windfall do for her life, her goals and her values? Surely she parlayed that into incredible success? Well… no. After becoming a millionaire overnight, she spent all that lovely money on designer clothes, parties,…
Long story made short – fund managers from poor backgrounds make better fund managers than those from wealthy backgrounds. Which does make sense when you think about it not only in terms of drive and the will to succeed without a safety net but also a greater understanding of the need to husband resource. Abstract…
I found this neat little chart on the total market cap of all crypto currencies. Since January the market has lost about $584B. So much for replacing money as we know it. The only similarity between cryptocurrencies and money as it is currency defined is that the saying a fool and his money are soon…
This is not a new observation but rather one that has simply been reinforced via observation over the last little while. We will all if given the opportunity find the mechanism of our own self destruction.
Apparently according to financial journalists the Shanghai Composite is now officially in a bear market because it has fallen the mandatory 20%. I do wish they would pay attention to what is actually happening. The first chart below shows my usual value of $1 invested i the index. As you can see the glory days…
Trading is a decision making profession – every day traders are forced to make decisions. We either have to choose between instruments we are going to trade or simply choose not to trade at all. Its quite a simple binary profession that is hopefully governed by some form of structure that guides your decision making…
Abstract Prediction markets have been an important source of information for decision makers due to their high ex post accuracies. Nevertheless, recent failures of prediction markets remind us of the importance of ex ante assessments of their prediction accuracy. This paper proposes a systematic procedure for decision makers to acquire prediction models which may be used…
Two interesting snips from the Knight Frank Classic Car Edition
Scientifically speaking, “detoxing” isn’t a thing. Your body doesn’t retain so-called toxins ingested via food or drugs or plastic dishes, or breathed in through air. You don’t sweat them out at yoga, get rid of them via special massage, or purge them through colonics. As writer Dara Mohammadi put it in a scorching takedown of the dominant wellness watchword…
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