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 Journal
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The ongoing saga of Valeant and its capacity to make dickheads out of apparently the hedge fund industries best and brightest intrigues me because it displays the power of the narrative over rational decision making. Consider that hedge fund managers are the highest paid individuals in the world and for their multi billion dollar salaries…
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Here is my idea for running a hedge fund – open the fund- take everyone’s money – buy an index ETF and then bugger off. I will be hailed a genius because I will trounce 99.9% of all other hedge fund managers. More hedge funds closed their doors in 2015 than at any time since…
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Piss poor reason for selecting people to serve on boards. Not entirely surprising when you consider the closed ecology of board memberships domestically Golf buddies aer_may_2016 2 from Trading Game Pty Ltd
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Last year (been waiting a few days to say that) I wrote about the lies we tell ourselves in order to successfully navigate our lives. Unfortunately, the propensity we have towards delusion means that we are also subject to the delusions of others. My guess is that this is part of the the in-built crowd…
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One of the more interesting things about following hedge funds is the behaviour of those who run them. At various times they will get into wonderfully childish slanging matches with one another that generally take on the following dialogue. Hedge Fund Loser One – The stock you own is bullshit… Hedge fund Loser Two –…
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The problem is not so much that there is a Nobel prize in economics, but that there are no equivalent prizes in psychology, sociology, anthropology. Economics, this seems to say, is not a social science but an exact one, like physics or chemistry – a distinction that not only encourages hubris among economists but also…
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It sounds like the sinister plot of some straight-to-DVD movie. Since 2009, Volkswagen had been installing elaborate software in 482,000 “clean diesel” vehicles sold in the US, so that the cars’ pollution controls only worked when being tested for emissions. The rest of the time, the vehicles could freely spew hazardous, smog-forming compounds. Suffice to…
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