The DSM-5 says that roughly 15% of people meet the criteria for a personality disorder. And most of them are never diagnosed. Now you’re not a psychiatrist and neither am I, so we shouldn’t run around diagnosing people… But we can learn enough to recognize if someone is a “high-conflict person”, reasonably give a diagnosis of “no good for…
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In May of 2013, the Stanford University neurosurgical resident Paul Kalanithi was diagnosed with Stage IV metastatic lung cancer. He was thirty-six years old. In his two remaining years—he died in March of 2015—he continued his medical training, became the father to a baby girl, and wrote beautifully about his experience facing mortality as a doctor and a patient.…
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………..Investors have to face fear every day, although more so on some days than others (nobody complains about volatility to the upside), and don’t often face it very effectively. To quote Jason Zweig paraphrasing Mike Tyson, “investors always have a plan until the market punches them in the face.” Real fear comes with names, faces, and a story.…
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I want to ask you a question. How many hours per day do you think? “I never thought about that.” So let me get this straight. You’re thinking all the time, and yet, you never think about how much time you spend thinking. That sounds like an addiction to me. I know, because I’m addicted to thinking too.…
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Overconfidence can have a profound impact on our decision making, but can be difficult to acknowledge and even harder to rectify. It also seems likely that overconfidence is a particularly pernicious bias in the investment industry, for the following reasons: – Selection bias: There is probably a selection bias into front office investment management roles…
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I have always been a fan of Decision Theory – the notion of how we make decisions with varying amounts of information has always been fascinating to me. This should seem obvious since trading is a profession that straddles both normative and descriptive decision making. Normative decision is about making decisions with incomplete information whereas…
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‘I plan for the 6th order effect and I do it in about half a second.’ If I had heard that from anyone other than another fighter pilot, I would’ve laughed them out of the room but, from my buddy, Jim – I knew it was true. I flown with him many times before. He…
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I have thought and continued to think a great deal about the relationship between critical thinking and cynicism — what is the tipping point past which critical thinking, that centerpiece of reason so vital to human progress and intellectual life, stops mobilizing our constructive impulses and topples over into the destructiveness of impotent complaint and embittered resignation, begetting cynicism?…
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