Archives of “short term memory” tag

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JOHN KENNETH GALBRAITH ON STOCK MARKET MEMORY LOSS

  
  Education
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Where else but in the markets can short term memory loss be both beneficial and profitable?

John Kenneth Galbraith, an economist, says the financial markets are characterized by…

“…extreme brevity of the financial memory.  In consequence, financial disaster is quickly forgotten.  In further consequence, when the same or closely similar circumstances occur again, SOMETIMES IN A FEW YEARS, they are hailed by a new, often youthful, and always extremely self-confident generation as a brilliantly innovative discovery in the financial and larger economic world.  There can be few fields of human endeavor in which history counts for so little as in the world of finance.” [emphasis mine].

JOHN KENNETH GALBRAITH ON STOCK MARKET MEMORY LOSS

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #

Where else but in the markets can short term memory loss be both beneficial and profitable?

John Kenneth Galbraith, an economist, says the financial markets are characterized by…

“…extreme brevity of the financial memory.  In consequence, financial disaster is quickly forgotten.  In further consequence, when the same or closely similar circumstances occur again, SOMETIMES IN A FEW YEARS, they are hailed by a new, often youthful, and always extremely self-confident generation as a brilliantly innovative discovery in the financial and larger economic world.  There can be few fields of human endeavor in which history counts for so little as in the world of finance.” [emphasis mine].

Four is the 'magic number', not seven

  
Analysis, Education
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Four, not seven, is the “magic number” when it comes to items of information the mind can cope with before confusion sets in.

 A new analysis by a leading Australian psychiatrist challenges the long-held view of psychological lore of seven being the number, suggesting it might actually be four.

In 1956, American psychologist George Miller published a study in the influential journal Psychological Review arguing the mind could cope with a maximum of only seven chunks of information.

The study paper, “The Magical Number Seven, Plus or Minus Two. (more…)

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