Posts filed under “Philosophy”
Lovely sentiments from Noah Smith on a few of your favorite bloggers, including Josh Brown and yours truly:
Barry Ritholtz: There is a huge amount of financial disinformation and misinformation and just plain bullshit out there in the world. Most financial news is random noise, and some is even worse than that. And there’s a good reason why there is all that bad financial information out there: it makes money for the people who put it out there. Thus, it is kind of a wonder that Barry Ritholtz exists at all.
Barry Ritholtz works in the financial industry, giving people advice and helping them manage their money. But in addition, he offers lots of free advice on his blog, The Big Picture. That in and of itself is highly unusual. Much of his advice is about how you shouldn’t trust the finance industry of which he is a part. That is even more unusual. And when Barry makes a correct prediction – such as when he nearly perfectly called the bottom after the 2008 stock market crash – he attributes it to luck. That is pretty extraordinary. Along with his partner and fellow blog hero Josh Brown (The Reformed Broker), Barry is helping to bring honesty to financial media.
Barry is, to my knowledge, the first popular finance blogger to report extensively on behavioral finance. Since most individual investors (read: YOU) tend to make a ton of investing mistakes – trading too much, chasing trends, being overconfident, etc. etc. – behavioral finance is probably the single most important thing that most blog readers can learn about. Well done.
Truly lovely and humbling sentiments. I will do my best to live up to the philosophy Noah describes . . .
“The intuitive mind is a sacred gift and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift.” ~ Albert Einstein What is intuition and how might it help or hinder an investor’s decision making process? A good philosopher begins with definitions, otherwise they…Read More
Over at Forbes, Jessica Hagy (of Indexed fame) has been illustrating the Art of War, with excellent results. This observation from Ch4 tickled me: “What the ancients called a clever fighter is one who not only wins, but excels in winning with ease.” Jessica Hagy via Forbes
You go to meetings. You process your inbox. You might make a presentation here and there. You certainly seem busy. But I bet if I asked your team what it is you do all day long, most of them would say, “I have no idea”. And come to think of it, do you know how…Read More
Cassandra Does Tokyo is a former hedge fund manager and ex NY Trader, who is now living abroad. ~~~ Freedom To Choose (…to be buggered) Her Majesty’s Post Office, The Royal Mail, has been privatized. As such, it is an opportune moment to evalute past experience, in order to ruminate upon whether, in totality, as…Read More
On Friday, I described a goal of mine: To pursue more signal, and less noise: “Our subject is how to reduce the meaningless distractions in your portfolio (and your life). You want less of the annoying nonsense that interferes with your investing, and more of the meaty data that allows you to become a less…Read More
Its Friday, after what was for me a long and annoying 17 days. But the shutdown is over, US markets are at all time highs, and Bob Shiller got his Nobel (more on this tomorrow). You might think that I would be at peace with the current state of the world, but life is never…Read More
Its Friday, and today is the day I usually like to wax philosophical about a variety of things. It seems this week we have done a good deal of that already (see this and this). Given those posts, let’s briefly discuss the issues investors have with the artificial construct we call Time. What’s that you…Read More