Albert Einstein once said, “Everything should be made as simple as possible, but no simpler." When it comes to investing, I have always believed that the simplest approach is the best approach. But, in recent years, a new type of investment has, I believe, crossed over into the “too simple” [...]
Working through the uglies
My sons' basketball coach, George, has a favorite expression: He talks about “working through the uglies.” When you're developing a new skill, he says, you shouldn't expect it to be perfect the first time, or even the second. But, if you keep working at it, over time there will be progress, “from [...]
The opposite of Nostradamus
Over the course of his lifetime, the self-proclaimed fortune teller Nostradamus published more than six thousand different predictions. With the benefit of hindsight, it is easy to see that there was little substance or predictive value in all of those prophecies. In fact, in his day, even the [...]
Financial tipping points
In the field of epidemiology, researchers have long used the term “tipping point” to describe how epidemics occur: At first, an ordinary disease moves slowly, not gaining much attention. But then, at a certain point, seemingly overnight, it snowballs into something much larger. Within the world of [...]
Three questions
Not long ago, I ran into my friend Martin, who works as a cardiologist at a local hospital. In the course of our conversation, I commented on the construction equipment outside his facility and asked what they were building. His answer surprised me: “Building? No, they're actually un-building.” He [...]
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