I came across this interesting piece on the British Psychological Society website. You can read the article in full at your leisure but I wanted to look at one particular piece of the article. In short the article looks at the gamblers fallacy – that is the notion that after a series of losses that…
I might have to break out the textbooks and get my arse into gear….. SARAH FERGUSON, PRESENTER: 93-year-old Elisabeth Kirkby has just about done it all. She was a soapy star in the risque 1970s hit TV show, Number 96. She then became a member of Parliament for the Democrats and received the Order of…
Try not to be that person. To relate that to social class, consider this experiment. You’re standing on a corner in downtown San Francisco. It’s a four-way stop, meaning cars are supposed to pause before entering the intersection. As you’re sipping your latte, you look to your left before stepping off the curb. The car…
Then, in 1975, Henry’s father died. Suddenly, at 26, he was back in Arkansas and running a 1,000-acre farm. Farmers often guard against volatile crop prices by buying futures contracts to hedge risk. Henry began purchasing soybean and corn futures and soon realized he was more interested in futures trading than farming. As Seth Mnookin…
Let’s say you’re sitting in an audience and I’m at the lectern. Here’s what I’ve likely done to prepare. Four hours or so ago, I took my first half milligram of Xanax. (I’ve learned that if I wait too long to take it, my fight-or-flight response kicks so far into overdrive that medication is not…
I came across this image on Bespoke – those folks who generate arrays of dazzling data very few of which are in any way helpful to market participants. It shows the daily change on the S&P 500 since January and I have no idea why this would be of interest but I thought I would…
Talk is interesting – host is a pain in the arse.
Apparently I have far too few screens and need to pull up my socks
Henrique de Castro was booted as COO by Marissa Mayer after she personally poached him from Google about 15 months earlier. Mayer said de Castro “was not a fit and that’s a regrettable conclusion,” but he still walked with $58 million in salary, bonuses and stock. Source – Time I could be twice as incompetent…
I believe it was the American writer HL Menken who once said you will never go broke underestimating the intelligence of the American public. A statement that is probably a bit harsh on the Yanks but one that can definitely be applied to those who invest in hedge funds. 2013 was another great year for…
I try to maintain fairly diversified reading habits. I am a believer that some of the best books about trading never mention trading but rather deal with people and their fallibilities and their successes. I have just finished The Dirt – a biography of 1980’s hair metal band Motley Crue. The back cover of the…
This is brilliant and perfect for trolling something like Facebook simply click the Reionize electrons button to be served a fresh dose of New Age Bullshit.
The New Yorker is getting a bit of a workout this morning – I must be bored. Are speculative bubbles good for the economy? With much of the developed world still suffering the after-effects of the great housing and credit bubble, it might sound like a trick question. On Friday, however, at the annual conference…
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