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What Trade Hurts the Most People? 27 Aug 2013 | 03:13 am
Back in my trading days, we often played What If?, a game that took a real or supposed major event and called on the players to postulate what would happen and, more importantly, what trade should be ...
*Very* Sobering 24 Aug 2013 | 02:33 am
New York magazine has a fascinating article (from last month) examining the truly terrifying economic analysis of Northwestern’s Robert Gordon. If nothing like the first and second industrial revoluti...
Picasso, Skill and Luck 23 Aug 2013 | 11:46 pm
In 2007, Newsweek named a 1907 painting by Pablo Picasso that came to be known as Les Demoiselles d’Avignon (shown left) as the most important painting in the previous 100 years. But when the then mo...
A Terrific Honor 23 Aug 2013 | 07:18 pm
The good folks at Financial Social Media yesterday honored The Best of the Best: Top Blogs That All Financial Advisors Should Be Following. I am very grateful to be included.
Finding Our Way 16 Aug 2013 | 08:10 am
Long before GPS, people traveled vast distances using only their highly developed observation skills, the clues they could find in their surroundings, and some simple instruments. In his wonderful boo...
“Assume a Spherical Cow” 15 Aug 2013 | 08:38 pm
Anyone who has managed money for more than about a nanosecond recognizes that the idea that the markets are efficient is a myth, especially in times of crisis, real or perceived. Despite claims of sci...
Hooters, Bob Filner and my hometown 14 Aug 2013 | 03:46 am
I live in Rancho Bernardo, a section of the City of San Diego. As reported in Slate, the RB Hooters has posted the following sign, apparently without irony, prohibiting embattled San Diego Mayor Bob ...
The Demographic Wave 14 Aug 2013 | 03:20 am
The following animation (from Calculated Risk, using Census Bureau data), which updates every second, shows the wave of demographic changes from 1900-2060. The additional numbers of older Americans (a...
Joe Walsh and the Narrative Fallacy 14 Aug 2013 | 12:55 am
In 1975, Joe Walsh replaced Bernie Leadon as a guitarist for the Eagles. His guitar “duels” with Don Felder were a highlight of every subsequent Eagles concert. In Part I of Showtime’s terrific Alis...
Happy Birthday (or not) 13 Aug 2013 | 01:55 am
Today’s Google Doodle, reproduced below, directs us to honor physicist Erwin Schrödinger (1887-1961) on the occasion of the 126th anniversary of his birth. How many of you recognized that? The dead an...