Quote Of The Day
Do every day or something for no other reason than that you would rather not do it, so that when the hour of dire need draws nigh, it may find you not unnerved and untrained to stand the test.” – William James.
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Hindsight Is The Perfect Investment Tool
It is often the preserve of finance journalists to suffer from the almost terminal affliction of hindsight bias – this sort of creeping determinism that some things were obvious all along. Recently I came across an excellent example of this whilst trawling for an online chart on Yahoo Finance. The piece breathlessly claims How buy and…
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Watching People Tells You So Much
I enjoy watching people – from afar off course because their actions tell you so much about both them and their lives. For example I have just returned from my local shopping centre which was packed to the rafters with people who had obviously just woken up and realised that tomorrow is Mothers Day and…
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For Those Addicted To The Evening News
My guess is the same sort of editorial decision making progress applies to all aspects of what passes for news.
Off With Their Heads
I came across this chart the other day – it shows the collapse in the income of the bottom 50% of the population versus the gain of the top 1%. I am not certain who actually thinks this sort of thing is sustainable.
WHY MOST FINANCIAL MEDIA HINDERS, RATHER THAN HELPS, INVESTORS
At the end of a two-day investment conference sponsored by Dimensional Fund Advisors in Los Angeles last month, I couldn’t stop squirming. The final workshop included a slide show highlighting articles from major business publications across the country conveying a range of dire investment messages. Some spouted warnings of impending market calamity. Others urged investors…
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Bragging Rights: Does Corporate Boasting Imply Value Creation?
Abstract We examine all S&P 500 firms over 1999-2014 that publicly characterize their annual performance with extreme positive language. We find that only 18% of such firms increase shareholder value, while nearly 75% have insignificant performance, and the remaining 7% actually destroy shareholder value. Our evidence suggests that firms often base their positive claims on…
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Why Are Journalists So Stupid?
I suppose such a question should really just be phrased as a rhetorical since it is a given that the majority seem to be dribbling idiots with the IQ of a turnip. The reason for this tirade is a series of news reports I heard this morning whilst heading to my regular Wednesday morning yoga…
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The Role of Luck in Life Success Is Far Greater Than We Realized
What does it take to succeed? What are the secrets of the most successful people? Judging by the popularity of magazines such as Success, Forbes, Inc., and Entrepreneur, there is no shortage of interest in these questions. There is a deep underlying assumption, however, that we can learn from them because it’s their personal characteristics–such as talent, skill, mental toughness,…
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