By Vikas Shah (Originally for AllAboutAlpha.com) Modern markets are hugely complex environments. CME Group for example, trades over 3 billion contracts (with a notional value of over U$1 quadrillion) each and every year. Alongside this, many of the world’s largest companies such as Google, Alibaba and Amazon (with market capitalisations…
“Macroeconomics has not done well in recent years…” writes Nobel Laureate Joseph E. Stiglitz, “The standard models didn’t predict the Great Recession; and even said it couldn’t happen. After the bubble burst, the models did not predict the full consequences.” In a hugely relevant recent paper titled “Reconstructing Macroeconomic Theory…
Each and every year, I have the pleasure of judging at the Rice Business Plan Competition. Tens of thousands of enterprising students from around the world compete, with a handful making it to the finals in Houston, Texas. At this incredible event, student entrepreneurs pitch to the crème-de-la-crème of global…
Money is a strange phenomenon. Our modern notion of it mean that (in essence) it is intrinsically useless apart from as a medium of exchange. Our government, regulators, law and communities agree that phenomena (whether a physical banknote or an electronic ledger such as a bank account) have certain value,…
Many of recent history’s most significant market events have manifest in what was (previously) the extreme of the market. These “bubbles” and “crashes” follow power laws, meaning that (in theory) they could reach any size and fundamentally threaten the functionality of the entire financial system. Typical central-bank and policy…
It’s quite conceivable that the grandparents (or even parents) of the future will be made to feel even more archaic as the young of that generation look at them quizzically and state “…are you serious? You used to use bits of paper as money?!” Money is a cultural abstract. It…
The perception that we learn from our mistakes is just one in a long-list of cognitive and behavioural biases that exist in the human mind. As WIRED reported in 2009, “Researchers from MIT have shown that the brain learns more after a success than a failure. This study indicates, contrary…
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They received this 'animal' with no social upbringing and turned me into a human being.
Ageing is malleable, we can control it. 20% of our health in old-age is due to genetic factors, and the rest is due to our lifestyle. We can measure this clock. It's literally measuring chemicals in our own DNA. Here's the good news…. That number can be changed. If you smoke, if you don't exercise, if you eat lots of fatty foods, that number will accelerate and if you do the right things, perhaps even take some medicines, you can slow that number down – even reverse it.
If you asked most people to categorise good trades and bad trades, you would find the answers to be quite simple… If it makes money it's a good trade, and if it loses money, it's a bad trade. That's not true at all… There's a very simple test to see whether something was a good or bad trade. You have to ask the question: 'If I was faced with the exact same information and circumstances again, would I still make the same trade?'. If the answer is yes, then it was not a bad trade.
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