"We cannot know what the future holds, and history cannot tell us. But awareness of that limitation is a key lesson in itself. Mastering it increases our likelihood of investment success." -Howard Marks
Looking for Easy Games: How Passive Investing Shapes Active Management - by Michael Mauboussin, et al. (LINK)
Kyle Bass’s Hayman Capital Rides Bond-Rout Bet to 24.8% Gain for 2016 (LINK)
Venkatesh Rao Interview with Real Vision Television (video) (LINK)
Related book: The Undoing ProjectFreakonomics Radio (podcast): The Men Who Started a Thinking Revolution (LINK)
Starting in the late 1960s, the Israeli psychologists Amos Tversky and Danny Kahneman began to redefine how the human mind actually works. Michael Lewis's new book The Undoing Project explains how the movement they started -- now known as behavioral economics -- has had such a profound effect on academia, governments, and society at large.