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What Do Heart Attacks And Trading Have In Common?

Here are some interesting statistics from the Baker IDI Heart Attack and Diabetes Institute survey of 1000 heart attack survivors.

1. One in 10 survivors admitted to smoking.

2. Six out of 10 don’t have a healthy diet.

3. Four out of 10 didn’t follow their doctors advice to improve their health.

4. Three in 10 had cholesterol and blood pressure levels above recommended targets.

5. Women are worse than men when it comes to changing lifestyle (this is the opposite of what I would have expected)

So what is the relationship to trading?

It shows that the default setting for the majority of humans is to be an idiot that is lacking in self control and any modicum of discipline. My understanding of heart attacks is limited but my guess is that you are lucky to survive one,  your chances of having another one go up and your chances of surviving the second one goes down.

Is it any wonder traders cannot follow a trading plan when people who are faced with a life threatening situation cannot follow what is fairly rudimentary advice to improve their chances of survival.

It is interesting to me how most of the important things in life can be reduced to a few simple concepts that are really quite easy to follow. The problem is that the majority of people are completely incapable of adhering to these simple concepts.

Growing Up

Its Friday

 

Courtesy of a mate of mine

 

Apparently Undergraduate Finance Students Believe in ESP

This explains a lot about many of  the people I have met….

  1. Fourth-year finance students in Barcelona have no clue about the independence of coin tossing events.
  2. FYF students like to play mind games with their professors.
  3. FYF students believe in telekinesis.
  4. FYF students believe in supernatural forecasting abilities. (N.B. This would explain much Wall Street behavior.)
  5. FYF students in this class didn’t really understand the experiment.
  6. FYF students are skeptical sorts and figured there was a trick involved in all this.
  7. The sample size was too small to be meaningful.
  8. Something else about the methodology invalidates the results.

 

More here……

What Happened At The End Of Trading Places

Ten Minutes With Tate – Who Are You Calling An Amateur?

What You Should Focus On

I get these nifty little graphics dropped into my in box once a week.

You can subscribe to them via Behaviour Gap

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