How many traders realize that the better models of decision making rely on a foundation of subjectivity? In other words, don’t most of us on or around Wall St. think that we are supposed to be trading via a maximum value, maximum utility or “rational man” model? I mean that surely is what I thought [...]
Fortunately or unfortunately, I am old enough to remember this song. Unfortunately or fortunately, my memory however isn’t completely sure whether it was Karen Carpenter or not…. But in any event, the point I want to make is that Mondays and particularly Mondays after a holiday sit within one of the many special contexts of [...]
We have a tendency not to notice that our emphasis on numbers and logic leaves out a crucial part of the thinking processes we actually engage in to make decisions. In order to make the best decisions – and to perform at our highest levels – we need to get logical about the gap between [...]
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