The Magic Of Magical Thinking…
By mistake I caught an item on the news about the ongoing battle of immunisation which to me seems to be a war being fought by people with a deep understanding of risk and the immunological basis of vaccination and idiots. This graphic sums up the later group. Source – This is Indexed This…
Still Think You Can Beat The Market?
One of the most maligned ideas in economics is the efficient market hypothesis, perhaps because what is actually a rather technical statement about financial market returns is conflated with some entirely different claim about the superiority of free markets over government dirigisme. The EMH has various forms, but in brief its message is very simple:…
Iron Maiden Star Dickinson’s Message To Entrepreneurs
Wales Online -Speaking at the Entrepreneurs Wales 2012 conference at Cardiff’s City Hall, the Iron Maiden star and founder of Cardiff Aviation urged delegates to make their businesses something their customers could not live without. “The key thing is to figure out how to make yourself invaluable – to be the ultimate virus – to…
Bill Gates On Enthusiasm And Open Mindedness
Short three minute piece. PS Gladwell is still wrong about the 10,000 hour rule. Talent beats practice anywhere, anytime……
The Value of the Dow In Gold
Here is another one of those charts valuing the Dow in gold. When someone figures how the f$5k this helps in their trading let me know.
Antifragile – How To Make An Unstable World Strong
This is an excerpt from an interview with Nassim Nicholas Taleb the author of Fooled By Randomness and The Black Swan I am not a raging fan of Taleb but this is very well put. Are you saying that capitalism is good, but that 21st-century capitalism has gone too far? What we do today has nothing…
Drive For Show…..Putt For Dough
There are a lot of similarity between golf and trading. Both are fundamentally mental activities and the person who makes the fewest catastrophic errors wins. Golfers are also prone to the same sort of magical thinking that afflicts traders – if I use so and so’s clubs then my game will get better. Which is…
Correction Ahead……Apparently
I offer the following chart and implied prediction from the WSJ without comment….. Well maybe one comment…….
Amazon
Excellent piece on Amazon and its CEO Jeff Bezo. The part that intrigued me was this – Make no mistake, Amazon rewards its teams. It’s just that restricted stock that becomes valuable only over time — and more valuable only if the company succeeds — is the primary reward. For example, Jeff Wilke, who runs Amazon’s…
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