Avoiding Bad Decisions

1. We’re unintentionally stupid We like to think that we can rationally process information like a computer, but we can’t. Cognitive biases explain why we made a bad decision but rarely help us avoid them in the first place. It’s better to focus on these warning signs that signal something is about to go wrong. Warning signs…

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The Usefulness of Our Delusions

The story of Donald Lowry and the “Church of Love” is weird and captivating: a balding, middle-​aged writer in a small Midwestern town had assumed the personas of dozens of fictitious women. He had written love letters in their voices to tens of thousands of men. Each woman had her own unique writing style, vocabulary…

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Headline Of The Day

From today’s Age. Brokers are apparently whinging about having to do a compliance (read competency) test to stay in the industry. Find me an industry that doesn’t require some form of test of competency to be in it. Some of the nation’s most prominent stockbroking firms are railing against a mandatory ethics test that has…

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Following Instructions

On the 22nd of August 1985 British AirTours flight, 28M was sitting on the runway at Manchester Airport. Loaded with British budget holiday makers who were no doubt looking forward to their holiday in Corfu wherein the tradition of English tourists they would get legless most nights, complain a Greek Island didn’t have food like…

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