The 1980’s
With them dropping Bond into a box today I thought it was a good time to reflect and reminisce on the 1980’s. One of the good things about having been around so long is that you get a keen sense of the history of the markets – this is one of the things the fly…
Its Friday
This got a run sometime ago but following a conversation I had during the week it deserves another go.
The Mischievous Science of Richard Thaler
Thaler has a mischievous mind. At the same time that he was producing his math-heavy dissertation, he started asking people two questions. The first: How much would you pay to eliminate a mortality risk of 1 in 100,000? The second: How much would you have to be paid to accept a mortality risk of 1 in 100,000?…
Seriously….WTF?
One of the great problems that traders of any size and ilk face is the notion of being taken seriously by friends, family and the community at large. Telling people you are a trader often conjures up all sorts of negativity, this process is not helped by the nonsense things that they read. This morning I…
The Most Valuable Car Collection Ever To Be Auctioned
Someone had done very well for themselves. More here – The Verge
David Byrne Does Paul Simon (“The World’s Biggest Prick” According To Some Dude In Los Lobos)
I have always been a David Byrne fan. More here – StereoGum
Change Your Socks
In late 1950 the Korean War appeared to be heading to what seemed to be an inevitable UN victory. The North Korean army had been shattered and UN forces had moved swiftly through North Korea and were sitting just south of the Yalu River, which marked the border with neighbouring China. In a spectacular failure…
Everyone Wants To Be Happy
As a therapist, the number-one goal I hear from my patients is: “I just want to be happy.” I ask, “What would being happy mean to you?” The answers range from “Everything I wish for will happen” to “I will feel good all the time” to “I won’t ever feel sad or disappointed.” These patients…
What Has The Mentor Program Taken Away From Me
The current crop of mentorees have just finished the first half of their course and are waiting to start to the final three months. One of the new group penned this list of what he had lost courtesy of the program. The illusion of specialness – “Yep I was one on them. I thought things would…
Scientists Dismissed “Hot Streaks” In Sports For Decades. They Were Wrong
Most sports fans and athletes believe in hot streaks. A basketball player who has hit several shots in a row, the thinking goes, has a greater chance of hitting the next one, due to a “hot hand.” Think of Golden State Warriors guard Stephen Curry, who recently hit 77 straight three-pointers in practice. Yet for a long…
What An Ordinary Market Looks Like
During the week I posted a link to some remarkable charts coming out of China. These show what a market in the grip of mania look like. The chart below is what a market that is struggling to get out of bed looks like.
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