Ignore the airy fairy, crystal rubbing, tree hugging, knitted wool beanie feel of the site and concentrate on the message. In one study on gratitude, conducted by Robert A. Emmons, Ph.D., at the University of California at Davis and his colleague Mike McCullough at the University of Miami, randomly assigned participants were given one of…
By the end of his life, Ovshinsky had established a new field of science: the study of “amorphous” materials, messy solids that have no regular atomic structure. He published around 300 academic papers on the subject. His inventions gained more than 400 patents. All this from a man who taught himself physics using books borrowed…
Whilst my views on Economics as a pseudoscience are well known I am not certain about this piece in Psychology Today In 1776, Adam Smith famously wrote: “It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own…
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Trading or investing (I use the terms interchangeably) is at its core an information processing profession. The job of a trader is to take the information they receive and distil it into a cohesive, coherent format from which they can derive a decision. The expected end point of this decision is that the trade that…
I was preparing a piece for the Australian Investors Association when I came across this quote. The story telling mind is allergic to uncertainty, randomness, and coincidence. It is addicted to meaning. If the storytelling mind cannot find meaningful patterns in the world, it will try to impose them. In short, the storytelling mind is…
Interesting juxtaposition between the Dow and the Russell 3000. You cannot argue with new highs….although some people do.
Whilst away for a strategy meeting last week part of the conversation drifted to the notion of working for yourself as a lifestyle choice. A subset of that discussion was simply why the f#%k would you willingly work for someone else. We all tried to work out the premium that would be required for us…
Interesting long article about the demise of alpha – that is a positive return over and above what the market can intrinsically produce. I would probably add that there has never been a situation in history where money managers have en masse produced alpha, so the situation being described is not new. Fund managers have…
