Behavioral

Can't Stop Using Stops

Can't Stop Using Stops

I'm out in Seattle this week to speak at the stockcharts.com ChartCon 2018.  Excited to be a part of a conference that features many speakers that I consider mentors, including Greg Morris, Martin Pring, and Tom McClellan. So far we've heard from Greg Schell, Dr. Alexander Elder, and Bruce Fraser.  What struck me is that all three of them have discussed the importance of using stops.

Beyond Behavioral Biases

Beyond Behavioral Biases

It's so easy to reduce Behavioral Finance to a bottomless list of biases.  As with many aspects of the financial industry, we get way too focused on labeling things instead of understanding them. A recent article from Behavioral Scientist pointed out the limitations of defining Behavioral Economics (which I tend to use interchangeably with "Behavioral Finance" because as far as I'm concerned they're the same thing) as a series of fallacies.

Now Presenting the Bear Case

Now Presenting the Bear Case

A respected former colleague of mine absolutely loved to play devil's advocate.  Whatever investment thesis was posed, he would always take the other side of the argument. Over time, I began to understand and respect this approach.  Sometimes his challenge would expose behavioral biases such as confirmation bias or the endowment effect, leading us to reconsider our outlook and positioning.

On Driving in Italy

On Driving in Italy

We've fallen into a sort of daily routine for our Spring Break in Sicily.  Lazy morning at home, load the car up around 10:00, go exploring.  Lunch on the fly and a bonus gelato stop when we need a morale boost.  With very little English spoken, every step of this journey has been an adventure.  However, the most hair-rising and invigorating challenge has been driving in Sicily.