A profound failure of an industry to adapt – click the image below for the full story. For a good look at the role adaption plays in corporate life I would recommend Tim Harfords book Adapt. More here – The Wall Street JournalDetails
In the late 1940s, the United States air force had a serious problem: its pilots could not keep control of their planes. Although this was the dawn of jet-powered aviation and the planes were faster and more complicated to fly, the problems were so frequent and involved so many different aircraft that the air force…Details
Terry Jones presents Boom Bust Boom. The result of a meeting between writer, director, historian and Python Terry Jones and economics professor and entrepreneur Theo Kocken. Co-written by Jones and Kocken and featuring John Cusack, Nobel Prize winners Daniel Kahneman, Robert J Shiller and Paul Krugman, the film is part of a global movement to…Details
LB showed me an email she received the other day that contained a chart of the All Ords purporting to show that the markets long term support had held. The only problem with this chart was that it had more lines on it than the ancient carvings at Nazca. This is the default setting of…Details
Science and medicine have done a lot for the world. Diseases have been eradicated, rockets have been sent to the moon, and convincing, causal explanations have been given for a whole range of formerly inscrutable phenomena. Notwithstanding recent concerns about sloppy research, small sample sizes, and challenges in replicating major findings—concerns I share and which I…Details
So I am sitting in the pointy end of an old Ansett bus waiting to be ferried back to Melbourne. A few hours earlier I had been wandering around the offices of a very large and well known Sydney based broker. They had flown me up to talk about setting up a derivatives trading desk. Apparently,…Details
IN 1990 hedge funds were still rare birds; 500-odd funds managed around $40 billion, mostly for rich individuals. Few people understood what they did or bothered to find out. By the end of 2015, the sector had mushroomed to include nearly 9,000 funds managing roughly $3 trillion. Along with private equity, the industry was classed…Details
How do vaccines cause autism?