Reading Time: 4 minutes What if I told you that this evening you’d get an audience with some of the greatest founders, money managers, authors, researchers and Nobel prizewinners of all time in our industry? People like Robert Shiller, Rob Arnott, Michael Mauboissin, Ben Inker, Rajiv Jain, Cliff Asness, Ray Dalio and even Jack Bogle? You’d be pretty happy … More The 10 Best FinPod Episodes of 2019
Reading Time: 5 minutes I started off with the idea of writing a blog on the worst habits of investors. And whether we’re talking individual investors or institutions it’s not hard to quickly come up with a long list of bad habits that have eaten away at returns (Ben Carlson already did a pretty good job of this here … More The 5 worst habits of the investment industry
Reading Time: 2 minutes “Investing is the perfect example of a complex problem with no known solution. There are no secrets.” – Nick Magguili (Of Dollars and Data) So what really matters most in the volatile, uncertain and ambiguous environment of investing? Better models? Research? Skilled managers? Access to deals? These things can and do matter, and fortunes have … More The Four Most Important Things in Investing
Reading Time: 2 minutes I’m not exactly ahead of the curve here talking about podcasts in 2019 (here’s an interesting blog that talks about the surprising recent rise of this relatively simple and humble medium), given it feels like almost everyone has one, or has appeared on one. However with the huge amount of stuff out there, there is … More Podcasts taking over the world
Reading Time: 4 minutes Human longevity is always somewhat of a double-edged sword for those tasked with paying a defined benefit pension: increases in healthy lifespan are of course welcome from a human perspective, but make the job of providing a pension for life that much harder. And longevity has been very hard to forecast with any accuracy: from … More Living Longer, and Prospering
Reading Time: 4 minutes In finance 101 you learn all about the two types of risk: systematic (market) and non-systematic (idiosyncratic) risk, but conventional teaching tends to ignore a third risk – Behavioral risk, which can be the most important. >> From @danielcrosby ‘s excellent book The Behavioral Investor which provides both a new taxonomy of behavioral biases from … More The Mis-behaving Investor
Reading Time: 3 minutes Authors Cass Sunstein and Reid Hastie have put together an excellent and readable taxonomy of the “bugs” that can afflict group decision making and cause groups to blunder in their book Wiser. In the first part of this blog I discussed their dissection of the causes of group decision making failure. How can we make … More [Books] Wiser (part 2) – getting past groupthink to better outcomes
Reading Time: 5 minutes I’m sure you can picture the scene. A group sits down to make a critically important decision. Much discussion follows. One person after another lays out their views, lots of points are made. There are some clear areas of agreement. Nods all round. The answer starts to become clear. With a few changes a consensus … More [Books] Wiser – how group decisions can let us down
Reading Time: 7 minutes So this is about strategies and tactics to understand and get past I am right you are wrong type situations and get to better outcomes. Specifically I am going to address this through three vignettes. But before we start I’d like to ask you to picture a recent example of a disagreement. I’m sure you can … More I am right, you are wrong…
Reading Time: 6 minutes What I read this summer Stumbling on Happiness The pursuit of happiness is built into the very definition of human desire. We treat our future selves as though they were our children, spending most of the hours of most of our days… volatilityviewpoint.w… The Inevitable From one of our leading technology thinkers and writers, … More What I’m reading summer 2017
