In a bear market it can be impossible to escape the pervasive negativity. Not only will our portfolios be falling in value, but there is likely to be an incessant flow of news highlighting the harsh realities of the prevailing backdrop. Dealing with this is not just an uncomfortable experience, it changes how and why we…
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Tina was at a crossroads. Her daughter had recently left for college, and her husband had his own pursuits. And although she’d once enjoyed banking, she now bore little interest in her work. For some time, she had been asking herself whether she should quit. But what would her colleagues and bosses think of her?…
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In the first full length Sherlock Holmes novel ‘A Study in Scarlet’ the brilliant detective’s sidekick, Watson, is staggered to discover that Holmes is apparently not aware that the earth revolves around the sun.[i] Watson cannot comprehend how an astonishingly intelligent individual can be ignorant of such basic facts. Holmes, however, explains that he actively disregards and forgets…
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“There are so many kinds of stupidity, and cleverness is one of the worst.” Thomas Mann. Many words have been expended on the nature of intelligence, while the topic of stupidity is comparatively neglected – even though it is all around us, screwing us up. That’s probably because we assume stupidity is just a lack…
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We’ve all been there, mired in the throes of pessimism when life just doesn’t seem to be going our way. For the lucky ones, this entirely natural, though disconcerting, feeling ebbs and flows, ultimately dissolving into a more balanced, healthier state of mind. For hapless others, though, the extreme negative thoughts and ideation can overwhelm—even…
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IG Markets community blog recently printed an article with the title What Is The Number One Mistake Traders Make? In this piece, the author looked at the impact of Prospect Theory on traders’ decision making and it repeats what I think is the mistake used when applying this to trading. At its core Prospect Theory…
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Nobel memorial prize winner Daniel Kahneman is one of the world’s most famous psychologists, known particularly for his work identifying the role of cognitive bias in everyday decision making. In this edition of More or Less he talks to Tim Harford about his latest book, Noise – A Flaw in Human Judgement, in which he…
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