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Still Want to Invest With George Soros?

Bummed that George Soros has closed his fund to outside investors and will no longer use his 2 and 20 from your cash to destroy America? The SEC has been thinking about your problem, and have come up with something that could be good both for your PA and for your love life.
Solution: marry George, or one of his children or nephews. If that doesn’t sound very appealing, you could also keep your eye out for any “lineal descendants (including by adoption, stepchildren, foster children, and, in some cases, by legal guardianship) of a common ancestor (who is no more than 10 generations removed from the youngest generation of family members).”

Under new SEC rules, that will let you invest with George without subjecting him to irksome regulations. On the downside, your shiftless relatives can’t co-invest, and you’re out in the cold again if you get divorced.

[T]he new rules are causing a commotion with family offices, who used to be able to serve in-laws, distant cousins and even ex-wives of the family but now can’t. …

For instance in-laws no longer count as family — which may be happy news

Traders Make Decisions based on Probabilities

Most traders take price swings personally. They feel very proud when they make money and love to talk about their profits. When a trade goes against them they feel like punished children and try to keep their losses secret. You can read traders’ emotions on their faces.

Many traders believe that the aim of a market analyst is to forecast future prices. The amateurs in most fields ask for forecasts, while professionals simply manage information and make decisions based on probabilities. Take medicine, for example. A patient is brought to an emergency room with a knife sticking out of his chest – and the anxious family members have only two questions: “Will he survive?” and “when can he go home?” They ask the doctor for a forecast.

But the doctor is not forecasting – he is taking care of problems as they emerge. His first job is to prevent the patient from dying from shock, and so he gives him pain-killers and starts an intravenous drip to replace lost blood. Then he removes the knife and sutures damaged organs. After that, he has to watch against infection. He monitors the trend of a patient’s health and takes measures to prevent complications. He is managing – not forecasting. When a family begs for a forecast, he may give it to them, but its practical value is low. (more…)