1) The psychology of prediction
Anything that Morgan
Housel writes is worth reading.
This article
describes 12 common flaws, errors, and misadventures that occur in people’s
heads when predictions are made.
2) Electric vehicles in EU have to sound like
traditional vehicles
I don't know if when
cars were first introduced if it was required to sound or look like horses :-)
But, new electric vehicles will
have to feature a noise-emitting device, under an EU rule coming into force on
Monday. It follows concerns that low-emission cars and vans are too quiet,
putting pedestrians at risk because they cannot be heard as they approach. All
new types of four-wheel electric vehicle must be fitted with the device, which
sounds like a traditional engine.
3) Mauboussin on what he would tell his younger self
(~read more)
The motto of the
Royal Society – “nullius in verba” – roughly translates to “take nobody’s word
for it.” Basically, the founders were urging their colleagues to avoid
deferring to authority and to verify statements by considering facts. They
wanted to make sure everyone would think for themselves.
In the world of
investing, that means constant learning—which entails constant reading. So I
would encourage my younger self to read widely, to constantly learn, and to
develop points of view independent of what others say and based on facts.
Specifically, I would recommend developing the habit of reading. Constantly ask
good questions and seek to answer them.
4) How global money laundering operates
Corruption isn’t something that happens only in
hardscrabble countries led by dictators and plagued by instability. It happens
everywhere. Public money is stolen and siphoned away from poor countries at the
expense of citizens, while private money is invested in wealthy nations where
the well-heeled bask in luxury.
The global financial
system, the international financial system, these offshore centers of finance
essentially provide an open door from their countries to the world, which means
that they can just walk out of their countries with as much money as they like,
stash that money offshore, then spend it without anyone realizing that it’s
them.
Money moves freely
from country to country; law and law enforcement can’t. It becomes very easy if
you’re very wealthy to just put your money wherever you like. That means you
put your money where it will be treated best, where you will get less scrutiny
for it.
5) The anatomy of a fraud
Be wary of companies that are all story and no
numbers. If the story is so great, shouldn’t there be plenty of numbers to back
it up?
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