In 2005 Rick Santorum, a senator from AccuWeather’s home state of Pennsylvania and a recipient of Myers family campaign contributions, introduced a bill that would have written this idea into law. The...
In 1980 only 23 percent of state pension money had been invested in the stock market; by 2008 the number had risen to 60 percent.
If you wanted to predict how people would behave, Munger said, you only had to look at their incentives. FedEx couldn’t get its night shift to finish on time; they tried everything to speed it up but...
Fracking—to take one example—was not the brainchild of private-sector research but the fruit of research paid for twenty years ago by the DOE. Yet fracking has collapsed the price of oil and gas and l...
Don’t worry. You gave him the right answer. Actually, Michael was after something more important than the fate of his Briarcrest teammate. I wanted to see what type of person he was, he said later. If...
Dark pools were another rogue spawn of the new financial marketplace. Private stock exchanges, run by the big brokers, they were not required to reveal to the public what happened inside them. They re...
Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment. The authors, Brad Barber and Terrance Odean,
Belief in the Law of Small Numbers teased out the implications of a single mental error that people commonly made—even when those people were trained statisticians. People mistook even a very small pa...
Anti-intellectual resentment is common in all of American life and it has many diverse expressions. Refusing to draft college players might have been one of them.Bill James
Why did investment banking pay so many people with so little experience so much money? Answer: When attached to a telephone, they could produce even more money. How could they produce money without ex...
The world’s not just a stage. It’s a casino, and our lives are games of chance. And when people calculate the odds in any life situation, they are often making judgments about similarity—or (strange n...
It actually went pretty well, until they got onto the topic of marijuana. So you got caught smoking weed your freshman and sophomore years, said the Rockets interviewer. What happened your junior year...