Pacific Investment Management Co. paid its former Chief Investment Officer Bill Gross a bonus of about $290 million in 2013, a year in which his Total Return Fund (PTTRX) trailed a majority of peers, according to documents provided to Bloomberg View by someone with knowledge of Pimco’s bonus policies. Mohamed El-Erian, 56, the former chief executive officer who previously…
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I have to admit that for some reason I find it hard to feel sorry for these people. It is a sad event that people are conned out of their hard earned money. However, you have to posses a remarkable naivety to believe that someone else can make you 1% per day on your capital.…
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At the risk of sounding crass – f@3k yes…… It’s an age-old question: Can money buy happiness? Over the past few years, new research has given us a much deeper understanding of the relationship between what we earn and how we feel. Economists have been scrutinizing the links between income and happiness across nations, and…
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I have been thinking about the marshmallow test and whether there was an equivalent that could be done in 2014 and I think there is. The protocol is simple, take an adult, lock them in a room with their smartphone and access to their Facebook account and see if they can resist taking a photograph…
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The chart below is currently doing the rounds. It is from JP Morgans Guide to Retirement and it is being repeated without critical comment over various sites. It offers the standard line of the need to be fully invested in markets all the time because if you are not fully invested then you miss the best…
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Throughout the late 1960’s and early 1970’s Stanford psychologist Walter Mischel conducted what became known as the marshmallow tests. This test looked at the phenomena of delayed gratification in children. as part of the testing protocol children were offered either a small reward immediately or a larger reward if they waited 15 minutes. Interestingly…
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I have clearly been exercising incorrectly my entire life. Hang around till the one minute mark……
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I have only seen the abstract of this article so far. However, the abstract as usual does give away the plot since it states – We provide direct evidence on the effect of financial expertise on investment outcomes by analyzing private portfolios of mutual fund managers. We find no evidence that financial experts make better investment decisions…
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