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...Counter-intuitive as that history may make this proposal, it is consistent with the history of the Nobel prize. It is, after all, funded by money made in dynamite. If any group wants its legacy to be that organizations, governments and companies need to pay more attention to how humans operate in the real world, it’s this one. Officially, the Riksbank prize was for Thaler’s work on “the consequences of limited rationality, social preferences, and lack of self-control, he has shown how these human traits systematically affect individual decisions as well as market outcomes.” Unofficially, Thaler, perhaps more than anyone else, is best described as the father of behavioural economics. ...Live Mint on Oct. 9, 2017, 10:17 p.m.
...That is a simple question. Yet it has surprisingly complex meanings and ramifications. It comes up today because of several seemingly unrelated news items that are actually deeply entwined. The first is a New York Post article with the headline, “Warren Buffett Wins $1M Bet Made With Hedgie A Decade Ago” (which came out several days ago while I was away on vacation). The second was The Wall Street Journal’s report about Harvard’s endowment with the headline, “Harvard Endowment Chief: 8% Return Is ‘Disappointing’.” By now, you have surely heard about “The Bet”, especially if you work in money management. A decade ago, Buffett endorsed inexpensive passive-index investing over expensive and active hedge-fund management. ...Live Mint on Sept. 24, 2017, 11:42 p.m.
...This is critical for investors to keep in mind because our internal thought processes are so filled with potential for bias and error that unless we are vigilant, we are easily fooled by our own narratives. More From Livemint » I was reminded of this earlier today when I saw a chart at CNN Money. It may not be fake news, based on the definition used by the president, but it is one of those things that gets passed around despite being deeply flawed. The chart encapsulates the conventional story that markets are rallying on expectations of tax cuts, infrastructure spending and deregulation—in other words, adoption of the Trump legislative agenda. It is a tale that doesn’t stand up to scrutiny. First there is the tendency of markets to ignore the dysfunction in Washington—as they have for most of the past decade. ...Live Mint on July 25, 2017, 10:51 p.m.
...It is easy to ignore not only the speed at which disruption caused by technology is affecting society, but the acceleration in the pace of change. This acceleration and its effect on markets, companies and labour is astonishing. I was reminded of this during the holiday weekend, when I saw the film The Big Sick. Loosely based on the real life of Kumail Nanjiani, perhaps best known for his role as Dinesh on HBO’s Silicon Valley, it accidentally reveals how quickly things are changing. More From Livemint » Nanjiani plays an aspiring stand-up comedian who now is also an Uber driver during the day. Much of the film is based on events that took place a decade earlier. It’s noteworthy that during this period, Uber did not yet exist. The iPhone, also a minor reference point in the film, had recently been introduced and was far from the near-ubiquitous device that it is today. ...Live Mint on July 10, 2017, 2:49 a.m.