Money and Finance
Don’t try this at home: seek professional advice. A sound maxim, one might think. Unless you know something about electrical wiring, get an electrician in; go to a doctor rather than diagnosing yourself. And, since you are a fallible investor, choose your financial portfolio with the help of an investment adviser.
- Tim Harford: An Astonishing Record – Of Complete Failure
Link to article: An astonishing record – of complete failure ‘In 2008, the consensus from forecasters was that not a single economy would fall into recession in 2009’ In the 2001 issue of the International Journal of Forecasting, an economist...
- Prospect Magazine Interviews Tim Harford
Link to interview: Big data, bad prophets and Brian Cox: An interview with Tim HarfordYou write about economics for a wide audience, is that because you believe there’s some benefit in wider economic literacy? I do, but I also just find it fascinating....
- Are Retail Investors ‘fleeing’ Stocks? – By Jason Zweig
Make no mistake: Individual investors are selling more U.S. stocks than they are buying, as my colleague Jack Hough pointed out this weekend. But it’s wrong to rely on mutual funds as the sole or primary indicator of retail flows into or out of U.S....
- Read History
An additional quote from Bob Rodriguez’s recent speech worth posting: “I met Charlie Munger in my USC graduate school investment class and had the opportunity to ask him this important question, “If I could do one thing to make myself a better...
- The Tortoise Vs. The Hares - Top Adviser Over Last 30 Years Is Largely In Cash Right Now
This reminded me a little of Nassim Taleb's barbell strategy, although I believe Taleb's barbell strategy recommended 85-90% invested in safe cash/short-term treasuries and the other 10-15% in many high-risk ventures.Slow and steady wins the race....
Money and Finance
Valuable advice on investment advisers - By Tim Harford
Don’t try this at home: seek professional advice. A sound maxim, one might think. Unless you know something about electrical wiring, get an electrician in; go to a doctor rather than diagnosing yourself. And, since you are a fallible investor, choose your financial portfolio with the help of an investment adviser.
But do typical investment advisers give good investment advice? Three economists recently published research exploring this question in an intriguing fashion – they mixed the experimental methods of a double-blind controlled trial with the latest behavioural economics, all seasoned with a dash of tabloid sting.
The researchers recruited professional mystery shoppers and asked them to seek advice from a variety of financial advisers in Massachusetts. Each mystery shopper was equipped with one of four imaginary portfolios.
- Tim Harford: An Astonishing Record – Of Complete Failure
Link to article: An astonishing record – of complete failure ‘In 2008, the consensus from forecasters was that not a single economy would fall into recession in 2009’ In the 2001 issue of the International Journal of Forecasting, an economist...
- Prospect Magazine Interviews Tim Harford
Link to interview: Big data, bad prophets and Brian Cox: An interview with Tim HarfordYou write about economics for a wide audience, is that because you believe there’s some benefit in wider economic literacy? I do, but I also just find it fascinating....
- Are Retail Investors ‘fleeing’ Stocks? – By Jason Zweig
Make no mistake: Individual investors are selling more U.S. stocks than they are buying, as my colleague Jack Hough pointed out this weekend. But it’s wrong to rely on mutual funds as the sole or primary indicator of retail flows into or out of U.S....
- Read History
An additional quote from Bob Rodriguez’s recent speech worth posting: “I met Charlie Munger in my USC graduate school investment class and had the opportunity to ask him this important question, “If I could do one thing to make myself a better...
- The Tortoise Vs. The Hares - Top Adviser Over Last 30 Years Is Largely In Cash Right Now
This reminded me a little of Nassim Taleb's barbell strategy, although I believe Taleb's barbell strategy recommended 85-90% invested in safe cash/short-term treasuries and the other 10-15% in many high-risk ventures.Slow and steady wins the race....