Word: moneyitis
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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...
...taught me so much, but he wouldn’t take any consulting money,” she said...
...Penn gave us a run for our money, but we were able to rebound in the second round and end up on top,” the Quincy resident said. “If we continue to focus on our own play, we will continue to perform well...
...been easy. His advisers told him the number, based on unproven assumptions, was too wobbly to survive a legislative debate. The truth was, they said, nobody knows exactly how much money could be saved by reforming health-care-delivery systems, as Obama and both houses of Congress have proposed. All they knew was that such reforms, which aim to restructure payment systems, decrease costs and increase the quality of care, are the only promising path forward to save the country from fiscal Armageddon. "You have never done it before, so how are you going to quantify it?" says Peter Orszag...
...China's problem is that the recent state-directed deluge of bank lending has resulted in a recovery in GDP growth but the money is not filtering down to the SME sector. Loans are going mainly to politically connected state-owned enterprises, which now comprise just 40% of the economy and create only a quarter of jobs. It's an entrenched situation that dates back to the days of economic central planning, and something that China's communist rulers do not seem to have the political gumption - or indeed the desire - to change. (Watch a video about China?s knockoff...