Wednesday, November 30, 2011
Tuesday, November 29, 2011
Monday, November 28, 2011
Sunday, November 27, 2011
Wednesday, November 23, 2011
Tuesday, November 22, 2011
Monday, November 21, 2011
I don’t like Amazon’s disingenuous propaganda. “Look how innovative we are! We’re altruistic geniuses who don’t care about making money! We just want to change the world using our brilliant minds and photos of our authors smiling into the camera with crazy eyes! This totally isn’t a new business model, it’s a new way of thinking!”
I like a lot of the ideas Seth brings up on the Domino site, but if he honestly thinks Amazon is a benevolent steward of innovation, rather than the new boss who simply wants to replace the old boss, he’s deluding himself. Amazon benefits far more from this association than Seth does.
Sunday, November 20, 2011
Friday, November 18, 2011
Thursday, November 17, 2011
Wednesday, November 16, 2011
Tuesday, November 15, 2011
"In today's hustle and bustle of life, when lives change for whatever reason, sometimes as pet owners we contemplate a change... for us, and for our pet ferrets. There is one change which should be weighed very heavily in the hearts of ferret owners, however, that of turning an older ferret over to a shelter...
Yes, in the worldly ferret community we think 'the shelter can provide better for my ferret now,' 'I don't have the time,' etc. Or perhaps the shelter knows what to watch for in an older ferret, etc. However, there is an undeniable action: abandonment. And your ferret will sense this, whatever the reason, whether you think it is for the better or naught."
Monday, November 14, 2011
I Slit My Own Eyeballs
Saturday, November 12, 2011
Friday, November 11, 2011
1. Pad the hoof: “To tramp about. Orig. hobo use.”
2. Pang-wangle: “To live or go along cheerfully in spite of minor misfortunes.”
3. Paper-belly: “A person unable to drink liquor straight, or one who grimaces after drinking.”
Thursday, November 10, 2011
Wednesday, November 9, 2011
Tuesday, November 8, 2011
Affect Heuristic: we use feelings not logic to make snap decisions, even when we don't need to: see Risk, Stone Age Economics and the Affect Heuristic.
Akerlof's Lemons: why the market for used cars doesn't work properly: see Akerlof's Lemons: Risk Asymmetric Dangers for Investors.
Ambiguity Aversion: we don't mind risk but we hate uncertainty: see Ambuiguity Aversion: Investing Under Conditions of Uncertainty.
Anchoring: our habit of focusing on one salient point and ignoring all others, such as the price at which we buy a stock: see Anchoring: the Mother of Behavioral Biases.
Authority, Appeal to: we tend to thoughtlessly obey those we regard as being in positions of authority: see CEO Pay: Because They're Worth It?.
Barnum Effect: we see insightful information in random rubbish: see Your Financial Horoscope.
Beauty Effect: we attribute qualities to people based on their appearance: see Trust is in the Eye of the Beholder.
Benford's Law: in finance numbers starting with 1 are more frequent than those starting 2 and so on: see Forensic Finance, Benford's Way.
Bystander Effect: people waiting for others to take the lead when someone else in is trouble: see A Lollapallooza Effect: Capitalism & The Death of Wang Yue.
Choice Overload: too much choice makes us indecisive: see Jam Today, Tyranny Tomorrow?
Clever Hans Effect: we give off unconscious cues that are unconsciously picked up on: see Market Confidence, Tricks and Placebos.
Cognitive Dissonance: the effect of simultaneously trying to believe two incompatible things at the same time; see Fairy Tales for Investors.
Commitment Bias: once we'e publicly committed ourselves to a position we find it difficult to retreat: see Robert Cialdini and the Weapons of Influence.
Confirmation Bias: we interpret evidence to support our prior beliefs and, if all else fails, we ignore evidence that contradicts it: seeConfirmation Bias, the Investor's Curse.
Conjunction Fallacy: the conjunction of two events is always less likely than a single event: see Behavioral Finance's Smoking Gun.
Conversational Bias: we tend to present ourselves in the best possible light, which has knock-on consequences for the relaying of positive and negative information: see Herd of Investors.
Data Mining Errors: if you mine the data hard enough you can prove anything: see Twits, Butter and the Superbowl Effect.
Data Snooping Bias: see Data Mining ErrorsExploiting the Anomalies.
Denomination Bias: we're more likely to spend small denomination notes than large ones: see Fooled by Fluency.
Disaster Myopia: an in-built tendency to forget really nasty stuff after it's stopped happening for a while: see Black Swans,Tsunamis and Cardiac Arrests.
Disposition Effect: we prefer to sell shares whose value has increased and keep those whose value's dropped: see Disposed to Lose Money.
Dread Risk: an irrational fear of extreme events: see Dread Risk: Investing Outside the Goldfish Bowl.
Dunning-Kruger Effect: some people never learn by experience: see Don't Lose Money in the Stupid Corner.
Economic Reflexivity: the way that the economy changes people's behavior, which changes the economy: see Soros' Economic Reflexivity.
Familiarity Effect: being familiar with something makes you favour it: see The Language of Lucre.
Fallacy of Composition: the tendency for individuals to act in their own self interest and, in by doing so en-mass, to cause themselves to lose out: see Panic!
Fallacy of Frequency: we see regular patterns where none exist: see Deep Time and the Fallacy of Frequency.
False Memory: memory is a construction, not a direct recollection : see Financial Memory Syndrome.
Framing: the way a question or situation is framed can determine your response: see Investors, You've Been Framed.
Fundamental Attribution Error: we attribute success to our own skill and failure to everyone else's lack of it: see Profit from Self-Knowledge.