“I go with my gut feelings,” says investor Judith Williams. Sure, you might think, “so do I,”— if the choice is between chocolate and vanilla ice cream. But Williams is dealing with real money in the five and six figures. Williams is one of the lions on the program The Lions’ Den, a German television show akin…
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They walk among us, endowed with a superpower invisible to the naked eye. Before an important early meeting, they never have to forgo a shower and settle for dry shampoo and a baby wipe. They rarely wake with a jolt at 10 in the morning and stare groggily at a phone screen with five missed…
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Most people realize that the mind and body are connected into a feedback loop. “A healthy mind in a healthy body” is why psychologists and physicians alike recommend sensible eating and regular exercise. Neuroscientists, however, recommend a different approach. Because they know that body-centric lifestyle changes (like diet and exercise) are difficult to maintain, they recommend starting…
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The topic of loss aversion made an appearance briefly in my reading list again last week and as usual, the author hadn’t really thought about the problem and had merely parroted the usual stuff as to why traders cant take losses. For those who are unfamiliar with the basis for loss aversion it simply states …
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All of trading is a compromise based upon what you want out of the market and what the market can give you at any given time. It is at this early point in my section that people begin to get frustrated because they become obsessed in part by the need for perfection. Trading is not…
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Patience may be a virtue, but it could also be a key economic indicator. Economists are interested in values like patience, altruism, and trust because they play key roles in how people behave. Those individual and collective behaviors can have wide-ranging effects on a nation’s propensity for armed conflict, trajectories of per capita income, and…
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Should investors care about a fund manager’s relationship status? What kind of car they drive? Ask them if they’ve won any poker games lately? Research points to yes. A recent outpouring of academic papers links the investment performance of professional fund managers to their characteristics as individuals — how they grew up, their personality traits,…
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In 1975, researchers at Stanford invited a group of undergraduates to take part in a study about suicide. They were presented with pairs of suicide notes. In each pair, one note had been composed by a random individual, the other by a person who had subsequently taken his own life. The students were then asked…
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