What if the rich get richer because they know how to invest their money more effectively? New research shows that this may be a factor behind the rise in inequality. Different investors have different levels of sophistication. Why? It might come from varying levels of education. For example, I know what diversification is, and why…
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While you may not remember life as a toddler, you most likely believe that your selfhood then—your essential being—was intrinsically the same as it is today. Buddhists, though, suggest that this is just an illusion—a philosophy that’s increasingly supported by scientific research. “Buddhists argue that nothing is constant, everything changes through time, you have a…
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Whilst I am not an economist nor am I even a macro trader – I am still vaguely sensible enough to spot a relationship… It is intriguing how little attention this gets on the sell side of economics (namely politics) and the implied problems this creates for the local economy.
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One of the biggest barriers to understanding others is excessive egocentrism. You can’t see into the mind of others because you can’t get over yourself. You can’t overcome your own experiences, beliefs, attitudes, emotions, knowledge, and visual perspective to recognize that others may view the world differently. Copernicus may have removed the Earth from the…
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You can guess what happened cant you….. The key players: Ed Crooks, energy editor of Financial Times, @Ed_Crooks Chris Nelder, energy futurist and author of “Profit from the Peak,” @chrisnelder Steve Levine, Washington correspondent of Quartz and author of “The Powerhouse,” @stevelevine Russell Gold, Wall Street Journal senior energy reporter and…
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I am very fortunate in where I live because I am surrounded by trees and parks and it is only a two minute ride to bike paths that will take me into town or out to the burbs (why the hell I would want to go there I have no idea) Being near a bike…
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As you can see in the chart above, the most competent individuals tend to underestimate their relative ability a little, but for most people (the bottom 75%) they increasingly overestimate their ability, and everyone thinks they are above average. I sometimes hear the effect incorrectly described as, “the more incompetent you are, the more knowledgeable…
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