Hedge funds run by women have generated returns two times higher than their male counterparts this year, piling further pressure on a sector that has been branded “male, pale and stale” to recruit more female portfolio managers. The HFRX Women index, which pulls together the performance of female hedge fund managers, has returned 9.95 per cent for the first seven months of the year. This compares with 4.81 per cent for the HFRI Fund Weighted Composite index, a broader gauge of hedge funds across all strategies and genders. The strong performance comes despite women being under-represented across the hedge fund and wider asset management industry. It also tallies with previous data that show that hedge funds run by women outperform those run by men over five years.
More here – Financial Times
Forget the Zumba, Pilates, Bikram bullshit….
According to B.J. Fogg, a psychologist and researcher at Stanford University who has studied behavior change for more than 20 years, doing something you don’t enjoy and subsequently failing to make it habitual is actually more detrimental to a mission for change than doing nothing at all. To create a real lifelong habit, the focus should be on training your brain to succeed at a small adjustments, then gaining confidence from that success, he argues. To do that, one needs to design behavior changes that are both easy to do and can be seamlessly slipped into your existing routine. Aim for automaticity.
More here – Quartz
PS: I am also a fan of temptation bundling – that is the pairing of something unpleasant with something enjoyable For example pairing hitting the pool with sitting in the outdoor spa at the end of the session. As opposed to bolting straight for the spa and forgetting the actual work.
Several years ago I wrote a piece on how there was a growing stream of thought lead by the likes of Malcom Gladwell that talent was an overrated commodity and that all it took to be successful was practice. I will save everyone the trouble of reading my initial article and simply say this motion is and always has been bullshit. It can be dropped into the outdoor dunny of stupid lazy ideas such as those promulgated by idiocy such as The Secret where all you had to do was wish for things and they happened. Such notions are bread and butter for the gullible, stupid and lazy among us.
Subscribing to this notion that all it took was practice to make it big was Dan McLaughlin, who became a bit of poster child for this sort of thing with his attempt to practice his way to becoming a professional golfer despite having never played golf before. Unfortunately, for Dan his quest to become a professional golfer on practice along didn’t work out the way he thought it would. It didn’t work out simply because he was not born with the natural ability that all people who are very good at something have from the moment they arrive. This is simply the nature of the world. Every sprinter in the world can practice as much as they want but they will never match the feats of Usain Bolt because you have the unique intersection of extraordinary talent, work, and opportunity.
This does not mean that you cannot get better at a chosen endeavour with practice but it does mean there are limitations on what you can achieve.