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A 'Naive Meritocracy'..

A recent research paper published by Cornell University, examines the real world inconsistency between how wealth and success are accrued to the top 20% of society while talent and competence exhibit a normal distribution, the 'Gaussian' bell curve, with roughly equal numbers of extreme winners and losers.

To Bit Or Not To Bit?

WHAT SHOULD INVESTORS MAKE OF BITCOIN MANIA?

Bitcoin and other cryptocurrencies are receiving intense media coverage, prompting many investors to wonder whether these new types of electronic money deserve a place in their portfolios.

Bond Yields Still Ugly

Comparing Valuations: 1999/2000 to 2017/2018

The US equity market large companies are trading at an average P/E of about 19 today. That looks positively reasonable to valuations at the turn of 1999 into 2000.

How Airlines Price Flights

Everything you ever wanted to know about some flights are expensive and some are not...

Trump: Greatest Ever at Presidential Bad Polling!!

If only presidential approval ratings were enforceable....

One Reason People Gamble: Relative Value

Most people understand that gambling is a low probability endeavor. Bet a little for a chance to win a lot.  With such low odds of success, why do otherwise rational persons 'waste' their money. The answer is relative value.

Regret Minimization

The recent stratospheric rise in the value of Bitcoin has me thinking about how best to think about when to sell a rapidly inflated investment. As many of you know, the new-ish science of 'behavioral science' teaches us to beware of our instincts when trying to make financial decisions.

Santa's Mid Life Crisis

Best Universities in the World - U.C. Berkeley Rated Top Public College - Again!

My alma mater, UC Berkeley, retains its standing as the world’s No. 1 public and fourth-best university overall in U.S.

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