In 1979, psychologist Ellen Langer and her students carefully refurbished an old monastery in Peterborough, New Hampshire, to resemble a place that would have existed two decades earlier. They invited a group of elderly men in their late 70s and early 80s to spend a week with them and live as they did in 1959,…
A little bit of market history…. This week we’re thinking about what it means to be a trader in today’s electronified markets and contrast it with trading in the era of horse and buggies. That’s right, we’re going back in time to talk mule trading and the story of the legendary Ray Lum, who spent…
Someone who clearly doesn’t know me very well sent me this meme. Apparently, it is from one of our many cognitively challenged politicians suggesting that the unemployed should all go into the armed forces. Whilst, it is a profoundly stupid idea as we will see in a minute it will no doubt play well with…
That’s because the area’s wealthiest residents, scientists all, work for the quantitative hedge fund Renaissance Technologies, based in nearby East Setauket. They are the creators and overseers of the Medallion Fund—perhaps the world’s greatest moneymaking machine. Medallion is open only to Renaissance’s roughly 300 employees, about 90 of whom are Ph.D.s, as well as a…
And two why its not. Its got four doors and only six cylinders…. BMW introduced its legendary M3 in 1986. The $64,000 four-door basically created the then-novel “sport sedan” segment. In the years since, it has maintained its dominance with supreme handling, punch-perfect power, and businesslike good looks—and has rightfully been embraced by wealthy professionals as the best…
Trading success does not follow a linear trajectory, success ebbs and flows with good times and bad times. If you trade for long enough you there eventually will come a time when you question the decision you have made to become a trader. It all seemed so easy initially and there was never any consideration as…
How and why did the modern world and its unprecedented prosperity begin? Many bookshelves are full of learned tomes by historians, economists, political philosophers and other erudite scholars with endless explanations. One way of looking at the question is by examining something basic, and arguably essential: the emergence of a belief in the usefulness of…
Both skepticism and wonder are skills that need honing and practice. Their harmonious marriage within the mind of every schoolchild ought to be a principal goal of public education. I’d love to see such a domestic felicity portrayed in the media, television especially: a community of people really working the mix — full of wonder,…
I keep seeing this chart pop up all over the place as evidence that share prices always go up irrespective of what world events assail us. That is not what it is telling you. It is telling you that indices which are wrought with survivor bias and constructed in such a manner as to deliberately…
If 2008 was a sharp reminder that banking matters, then 2016 has reminded us that politics matters too — and, in both cases, the reminder has not been especially welcome. How should economists respond? Until recently, both banking and politics tended to be something of a niche interest in the economics profession. This isn’t quite…
This is an interesting way to look at this issue using an everyday comparison. More here – Visual Capitalist.
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