That human beings can be mistaken in anything they think or do is a proposition known as fallibilism. Stated abstractly like that, it is seldom contradicted. Yet few people have ever seriously believed it, either. That our senses often fail us is a truism; and our self-critical culture has long ago made us familiar with…
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Napoleon Hill is the most famous conman you’ve probably never heard of. Born into poverty in rural Virginia at the end of the 19th century, Hill went on to write one of the most successful self-help books of the 20th century: Think and Grow Rich. In fact, he helped invent the genre. But it’s the…
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Interesting piece that looks at the precision of judgement as one ages, in this instance precision refers to the confidence that is brought to a given decision. It turns out that as we age we become more confident in believing we know the truth. This leads to a somewhat intractable problem of both overconfidence and…
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IN THESE UNCERTAIN economic times, we’d all like a guaranteed investment. Here’s one: it pays a 24-cent dividend every four weeks for 60 weeks, 15 dividends in all. Then it disappears. Unlike a bond, this security has no redemption value. It simply provides guaranteed dividends. It involves no tricky derivatives or unknown risks. And it…
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I first heard of Naval Ravikant from his appearance on the Tim Ferriss podcast. It was an onslaught of knowledge. Just as you hear one nugget of wisdom, another one smacks you on the head, and you completely forgot what you were thinking about. It was almost too much to take in. So I wanted…
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I do enjoy it when people email me to ask me about something they have read in the media. My enjoyment comes from the simple fact that I dont read business publications. I find them irrelevant, stupid, depressing and generally lacking in original thought. However, in the spirit of being polite I did take a…
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Interesting snip from the abstract of this piece – We show that investors base their decisions on perceptions of the responsible investment manager shaped by manager-written texts. Relying on a novel dataset of a European social trading platform including self-descriptions from portfolio managers, we show that a positive emotional tone of these descriptions lowers portfolio…
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