This is a curious little malady that makes you believe that you are much better at a task than you actually are but you lack the either cognitive power or self perception to realise how bad you are. Consider of the HRF Hedge Fund Index versus the S&P500. As you can see a simple index…
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Consider the chart below. Leaving aside my thoughts about organic food the chart deliberately confuses causation with correlation. Such confusion is the bane of statistician lives and it plays a role in our investing since in many ways it is the bedrock upon which people build their stories or rationalisations about he market. During…
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Confirmation is an insidious little malady that afflicts everyone at some stage. Our natural desire as members of a herd is to find people who agree with our point of view. In trading this takes the extreme form of overweighting opinions that match ours and underweighting those that disagree with us. The natural tendency when…
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One of the more interesting things about winter in Australia is the return of the various winter sporting codes. This is interesting because it heralds the return of the uniquely Australian obsession with provincial sports and a breathless sporting coverage that attempts to give the impression that people who kick or chase an inflated piece…
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Over the next few weeks I want to start looking at some of the bias’s that make traders stupid and to look at what can be done to overcome these issues. It is important to note at the beginning the problems with your internal language are often not related to intelligence. In fact work by…
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We are only a few hours away from the usual rush of New Year – New Me bullshit that seems to percolate to the surface at this time of the year. This may seem like a somewhat grumpy thing to say during the festive season. Surely the beginning of a New Year is something to…
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For all the time executives spend concerned about physical strength and health, when it comes down to it, mental strength can mean even more. Particularly for entrepreneurs, numerous articles talk about critical characteristics of mental strength—tenacity, “grit,” optimism, and an unfailing ability as Forbes contributor David Williams says, to “fail up.” More at Forbes
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Largely boils down to set goals and read everything you can – who would have thought that….. Although interestingly, Richard Feynman who is one of my academic hero’s was reticent to read existing research in any field he was investigating preferring instead to start from scratch. Source: Online-PhD-Programs.org
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