Shiller Says `Easy to Beat the Market’ Long Term
Talk is interesting – host is a pain in the arse.
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Careful Who You Let Into Your Head
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…
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ARE SPECULATIVE BUBBLES GOOD?
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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What Next For Behavioural Economics?
The past decade has been a triumph for behavioural economics, the fashionable cross-breed of psychology and economics. First there was the award in 2002 of the Nobel Memorial Prize in economics to a psychologist, Daniel Kahneman – the man who did as much as anything to create the field of behavioural economics. Bestselling books were…
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Manipulate Me: The Booming Business in Behavioral Finance
It’s hard to find a place today where concepts of behavioral finance aren’t being applied to real-world situations. From London to Washington to Sydney, governments are experimenting with the psychology of decision-making and trying to “nudge” citizens toward better behaviors, whether that means saving more for retirement or signing an organ donation card. Meanwhile, businesses…
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A Nods As Good As A Wink
A new study led by the University of Exeter and Swansea University has pinpointed the changes in the brain that lead gamblers to react in the same way to near-misses as they do to winning. The research shows that near-misses are underpinned by increases in the brain’s electrical activity, particularly in the theta frequency range…
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Grit And The Secret Of Success
“Inspiration is for amateurs — the rest of us just show up and get to work,” Chuck Close scoffed. “A self-respecting artist must not fold his hands on the pretext that he is not in the mood,” Tchaikovsky admonished. “Show up, show up, show up, and after a while the muse shows up, too,” Isabel…
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Shiller: On Bubbles & Busts
Nobel laureate Robert Schiller talks about bubbles, busts and what he thinks drives markets.
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