Sprinters who have taken on Usain Bolt in the 100-meter dash often describe a moment in the second half of the race when the world’s fastest-ever human just runs away from them. One minute they are shoulder-to-shoulder with Bolt, believing that this will be the nightthe legend will be toppled. The next they are staring…
Now that I have settled in following my trip to Sydney I have had a chance to unpack and to clear out my junk mail folder. My junk mail folder is used to collect any manner of financial dross and it is a veritable treasure trove of hyperbole, breathless overstatement with a slight dash of…
The most scenic way to find truth on the internet is to drive north of Los Angeles on the Pacific Coast Highway, blue ocean foaming to the left, sunlit hills cresting to the right, until Malibu Canyon Road, where you take a sharp right and wind for a few miles through the oak-lined knolls and…
The chart below has been doing the rounds today. It shows the S&P 500 versus analysts expectations for the index, as you can see analysts are a wildly optimistic bunch. Source – Bloomberg The reasons this has caused so much angst is that it now seems to portray Wall Street as being bearish because the…
Using tools gleaned from behavioral economics to help people make better decisions is all the rage these days. This work is built on the theory that behavioral biases – like the sunk cost fallacy, status quo bias, or the tendency to give outsize attention to very unlikely events – are cognitive mistakes that are holding…
The numbers in this are staggering as are the number of missed opportunities. More here – Visual Capitalist.
Why Inexperienced Investors Do Not Learn: They Do Not Know Their Past Portfolio Performance from Trading Game Pty Ltd
The post I did just now on luck got me thinking about the role of luck in trading – specifically the luck of your starting date. This ties in with a bit of playing around with annualised returns I have been doing in markets that have been rubbish. One of the issues with looking at…
This is a photo of Jimmy Nicol sitting by himself at Essendon airport on June 15 1964. For those who are not up with their music history Nicol sat in for Ringo Starr for eight concerts whilst Starr was ill with tonsillitis. Apparently he played the drums as well as Starr – the only thing…
A new study of over 1 million people finds that doing at least one hour of physical activity per day, such as brisk walking or cycling for pleasure, may eliminate the increased risk of death associated with sitting for 8h a day. Physical inactivity is linked to an increased risk of heart disease, diabetes and…
The quick answer from the paper embedded below is no. The executive summary is very enlightening in that it states – Has CEO pay reflected long-term stock performance? In a word, “no.” Companies that awarded their Chief Executive Officers (CEOs) higher equity incentives had below-median returns based on a sample of 429 large-cap U.S. companies…
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