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...chief investment strategist of Legg Mason Capital Management, Michael Mauboussin's job is to understand the world and then make money off of it. What he's found over the years is that investors, like any other group of people, are prone to make mistakes that stem from faulty approaches to decision-making. In Think Twice: Harnessing the Power of Counterintuition, Mauboussin - also an adjunct professor of finance at Columbia Business School - pulls from fields such as psychology, statistics and complexity science to explain how we might do better. TIME's Barbara Kiviat spoke with...
...typically have some sort of stimulus coming out of a recession," says Maury Harris, chief U.S. economist at UBS, who has yet to finalize his 2011 economic estimates. "What makes it harder than usual is that the stimulus was so much larger than usual." (See pictures of the recession...
...stimulus that makes 2011 a tough year to call. It will also be the year that all the Bush tax cuts expire. And Harris thinks that if a health-care overall gets passed, that could have significant unforeseen effects on the economy as well. S&P's chief economist, David Wyss, says he thinks most economists are tackling the tricky problem of predicting what will happen in 2011 by doing what they always do: predict the economy will do about average. The problem is that what economists have come to believe is average growth for the U.S. economy in recent...
...with the Commonwealth Games just a year away, the city's bad manners have upset a personage no less than the country's Home Minister, P. Chidambaram, who said on Sept. 22 that Delhiites needed an "attitude makeover" in order to "play good hosts" in 2010. Delhi's Chief Minister, Shiela Dixit, readily agreed and said plans are afoot to teach Delhi folks to be "more caring and sharing." She indicated that a Beijing-style program of civic education, like the one rolled out before last year's Olympics, would be launched soon. It's only the third time...
...same time, awareness programs to teach people "manners" on the Delhi Metro have shown that Delhi residents can be taught to stand in queues. The Delhi government has been training police to learn basic English and auto-rickshaw drivers to deal more courteously with customers. But the challenge before Chief Minister Dixit's civic-education program is huge: How do you get Delhi residents to put their best face on for a city they don't even consider to be theirs...