Terry Jones presents Boom Bust Boom. The result of a meeting between writer, director, historian and Python Terry Jones and economics professor and entrepreneur Theo Kocken. Co-written by Jones and Kocken and featuring John Cusack, Nobel Prize winners Daniel Kahneman, Robert J Shiller and Paul Krugman, the film is part of a global movement to…
It seems that criminals and dishonesty are the theme of the week. The things you find on the internet. Abstract: Is there any return to education in criminal activities? This paper is one of the first to investigate whether education has not only a positive impact on legitimate, but also on illegitimate activities. We use…
I was do a bit of additional reading on the article I posted the other day regarding the seemingly robust secondary market for brokers who had been involved in some form of malfeasance when I came across this excellent analysis of the article by Michael Kitcess. The entire piece is well worth reading. The analysis includes…
LB showed me an email she received the other day that contained a chart of the All Ords purporting to show that the markets long term support had held. The only problem with this chart was that it had more lines on it than the ancient carvings at Nazca. This is the default setting of…
Mmmmmm….not certain, I know lots of grumpy pricks who are successful. Have a read and see what you think.
But how should you go about finding a direction? How to settle on a purpose that fits your current life stage? One technique turns out to be immensely valuable – and yet most people ignore it. If you are searching for a direction or purpose, interview your future self. There are in fact a host…
I have copied the abstract of this paper below. In a nutshell it says that financial misconduct of advisors does have a cost. However, the cost is not as severe as you think since advisors are able to find employment at other firms after being disciplined. The downside of this for the consumer is that sooner…
I am calling bullshit on this one – it is presented as a hero’s tale of one man standing firm with his opinion against the might of hedge funds. For those who have not followed the story Valeant is a Canadian based pharmaceutical company with a twin business strategy of charging exorbitant prices for essential…
Science and medicine have done a lot for the world. Diseases have been eradicated, rockets have been sent to the moon, and convincing, causal explanations have been given for a whole range of formerly inscrutable phenomena. Notwithstanding recent concerns about sloppy research, small sample sizes, and challenges in replicating major findings—concerns I share and which I…
To meditate mindfully demands ‘‘an open and receptive, nonjudgmental awareness of your present-moment experience,’’ says J. David Creswell, who led the study and is an associate professor of psychology and the director of the Health and Human Performance Laboratory at Carnegie Mellon University. One difficulty of investigating meditation has been the placebo problem. In rigorous…
So I am sitting in the pointy end of an old Ansett bus waiting to be ferried back to Melbourne. A few hours earlier I had been wandering around the offices of a very large and well known Sydney based broker. They had flown me up to talk about setting up a derivatives trading desk. Apparently,…
One of the most devilish conundrums faced by traders is what to do when an instrument they are following gives a valid signal but this signal is either at an all time high or low. Such a situation has recently occurred with wheat, which according to my system gave a valid sell signal as it…
Biased Shorts: Short sellers’ Disposition Effect and Limits to Arbitrage from Trading Game Pty Ltd
