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Byrne Hobart • How Many Trillion-Dollar Companies Should There Be?
Another common error in the psychology literature concerns what is called “mental accounting.” The Thorp, Kelly, and Shannon school of information theory requires that, for an investment strategy to be ergodic and eventually capture the return of the market, agents increase their risks as they are winning, but contract after losses, a technique cal
... See moreNassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
The great art dealers operated like index funds. They bought everything they could. And they bought it in portfolios, not individual pieces they happened to like. Then they sat and waited for a few winners to emerge.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Manias and Mimesis: Applying René Girard’s Mimetic Theory to Financial Bubbles
Tobias Huberdeliverypdf.ssrn.comInvest like the Best • Unwrapping the Gift
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
My training as an economist has been of help in one important way: It convinced me that the only information that is of value in a financial market is information that other people don’t have. This means that I don’t have to pay daily, or even monthly, attention to the stock market, since it tells me nothing about whether I should buy or sell. Henc
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