Archives of “January 2019” month

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Daniel Kahneman: The riddle of experience vs. memory -VIDEO

  
Education, Video
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Using examples from vacations to colonoscopies, Nobel laureate and founder of behavioral economics Daniel Kahneman reveals how our “experiencing selves” and our “remembering selves” perceive happiness differently. This new insight has profound implications for economics, public policy — and our own self-awareness

 

Permutations & Trading

  
  Education
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I am reading a math book now and came across a section regarding permutations. I thought it relevant in looking at various markets and the possible combinations like a ranking. If you had 10 markets for example, I was curious how many possibilities there are of those 10 when the order is noted. Turns out there are 3.6 million combinations for just those 10 markets. The formula is P(n,r) = n! / (n – r)! where N is a set of items and R a sub set of selected items. In my example both N and R are 10. Intuitively I would have guessed much lower and shows how my brain at least is not very good estimated very large numbers. Math experts please educate me if I have erred.


 

Quotes from -Walter Isaacson’s biography on Steve Jobs

  
Education, Life
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For those of you who have never followed or read about Steve, this book may be a shocker. He was not a nice man, but he did get things done and was very successful. CEOs view him as a visionary business leader. I found some really great quotes that I like to highlight and share.

On motivation:

(Y)ou should never start a company with the goal of getting rich. Your goal should be making something you believe in and making a company that will last.

On impressions:

People DO judge a book by its cover. We may have the best product, the highest quality, the most useful software etc.; if we present them in a slipshod manner, they will be perceived as slipshod; if we present them in a creative, professional manner, we will impute the desired qualities.

A great Jonny Ive quote:

Steve and I care about things like that, which ruin the purity and detract from the essence of something like a utensil, and we think alike about how products should be made to look pure and seamless.

On Apple stores:

Jobs decided that Apple stores should have only one entrance, which would make it easier to control the experience.

On problems:

If something isn’t right, you can’t just ignore it and say you’ll fix it later,” he said. “That’s what other companies do.

On how ruthlessly focused he was:

“What are the ten things we should be doing next?” People would fight to get their suggestions on the list. Jobs would write them down, and then cross off the ones he decreed dumb. After much jockeying, the group would come up with a list of ten. Then Jobs would slash the bottom seven and announce, “We can only do three.” (more…)

Ten Destructive Trading Thoughts

  
  Education
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  1. That resistance is way too close, I really shouldn’t have taken that signal. 
  2. I should definitely trade that breakout. My method doesn’t trade breakouts,but that’s areally good-looking trade.
  3. I’m long, this is a downtrend.  What the heck was I thinking?
  4. This going to be a loser, for sure.
  5. Price has ripped so far away from me – please don’t turn into a signal.
  6. This is clearly in a congestion range.  I’m going to ignore that signal and wait for a breakout.
  7. Buying spikes – this short is doomed.  See ya, money.
  8. Yippeee! It’s not turning into a signal!
  9. Ooh, nice profit – I should take that while it’s still there.
  10. Take the profit. TAKE THE PROFIT.  TAKE THE DAMN PROFIT!!!!!
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