“It only took 4,209 days, but I am finally even!!!” So declared Stephen Bearce, now a broker at Wells Fargo. He had taken a flier on 100 Bear Stearns shares amid its epic collapse from $171.51 — its record closing price on Jan. 12, 2007 — to where Bearce bought it at $30 a share on Friday, March 14, 2008.…
Smart people are not only just as prone to making mistakes as everyone else—they may even be more susceptible to them. This idea has been dubbed the Intelligence Trap. It explains the flaws in our understanding of intelligence and expertise, and how the decisions of even the brightest minds and talented organisations can backfire. More…
While many in their 80s and 90s may be starting to take it easy, 85-year-old track star Irene Obera is at the other end of the spectrum. Setting multiple world athletics records in her age category, she is one of a growing band of “master athletes” who represent the extreme end of what is physically possible later…
Mozart was a celestial genius, but he struggled like a mere mortal during his teens and early twenties. Though already a prolific composer, he had to work as an organist and concertmaster in his native Salzburg to make ends meet. Underpaid, unfulfilled, and hemmed in by his frustratingly average gigs, he felt a burning desire…
Kenneth Libbrecht is that rare person who, in the middle of winter, gleefully leaves Southern California for a place like Fairbanks, Alaska, where wintertime temperatures rarely rise above freezing. There, he dons a parka and sits in a field with a camera and a piece of foam board, waiting for snow. Specifically, he seeks the sparkliest,…
Eventually in everyone’s trading career will come a time when you question the decision you have made to become a trader. This is a natural part of the journey and it is a watershed moment because those who understand their own motivations will have sound concrete reasons for continuing. Those who do not or whose…
PS: Depressing to think that Norway’s SWF is ten times the size of our Future Fund despite Australia being one of the most resource rich countries in the world. Chalk another failure up to stupid narrow-minded self-interested politicians.
You know that blur of movement on Christmas morning when children meet presents and presents meet children, scraps of wrapping paper fly into the air and float down, confetti-style, all over the living room? Five minutes later, the presents are all unwrapped, the children sit panting, and everyone wonders what to do next. It does…
“Always remember: Your focus determines your reality.” Jedi Master Qui-Gon Jinn shares this advice with Anakin Skywalker in Star Wars, but in our hyper-distracted work world, it’s advice that we all need to hear. Technology has undoubtedly ushered in progress in a myriad of ways. But this same force has also led to work environments that inundate people with a relentless…
I am going to do a more extensive year in review in the next day or so but here is a primer.
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