It turns out, that other person who you hate so much and is so wrong and so awful, has a heartbeat and limbic system and feelings and fears and vulnerabilities too – just like me and you. Markets taught me that every transaction has a buyer and a seller with data and research and factsRead more
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When we take noble silence, we attempt to totally quiet our minds, and do so by not interfacing with the world. I set a goal of absolutely no human interaction, including eye contact. I do not speak, even to myself. I do not listen to music, read, nor use any form of technology. It isRead more
Our habits do not define us, they confine us.
In portfolio management, the tendency is to chase. We chase performance, always judging ourselves against a benchmark and making huge efforts to outperform. If something is not working, we fix it immediately. If something is going well, we double-down. But markets have a way of tricking us – they entice us to chase, though itRead more
Everyone is trying to do their best. We get so angry with others – hating or labeling or both. And even if someone is being immoral, they are still doing the best with the hand they were dealt. It takes so much humility to see it. I struggle with it often. But recognizing weRead more
Self-reflection is an activity that seems unrelated to finance. But markets taught me a lot about looking within myself. When investment performance is not as desired, we blame CEOs, politicians, other countries, other investors, financial professionals, and just about anything we can fixate our brains on. Blame is much easier than responsibility. But it isRead more
When asked what transformational document was created in 1776 that produced the world’s only superpower of today, many Americans would answer, The Declaration of Independence. And they would be correct in the year this historic document was signed. But these same citizens of the world’s largest economy would actually be wrong in their answer. TheRead more
I have participated in various ETF.com conferences over the years and respect their work to educate professional and individual investors. Being asked to speak at Inside ETFs Europe 2016 was an honor and responsibility. This conference, held in Amsterdam from 13 -15 June and attended mostly by European industry professionals, was an opportunity to speakRead more
We think we are so advanced and intelligent with our smartphones and self-driving cars and social media and apps and Bluetooth technology and similar, but our behavior often suggests otherwise.
As markets react over a British vote to exit the European Union, the word “control” comes to mind. Certainly Brexit was not driven by economics, but by emotions. When humans are confronted by uncertainty, we react by grasping for anything that makes us feel in control. Sometimes this manifests itself in bad habits such asRead more
