The US has a disproportionate lock on the world economy. People look to the US first.
“From the psychological analysis of what expertise is, it’s very difficult to imagine that you can develop true expertise in say, predicting the stock market. But you cannot, because the world isn’t sufficiently regular for people to learn rules. However, that doesn’t stop people from confidently predicting financial outcomes based on their experience.”
“Inflation has been a little naughty, but not entirely misbehaved.”
“The single best advice we have in framing is broad framing. See the investment decision as a member of a class of decisions that you’ll probably have to take.”
“From the psychological analysis of what expertise is, it’s very difficult to imagine that you can develop true expertise in say, predicting the stock market. But you cannot, because the world isn’t sufficiently regular for people to learn rules. However, that doesn’t stop people from confidently predicting financial outcomes based on their experience.”
“Inflation has been a little naughty, but not entirely misbehaved.”
“The single best advice we have in framing is broad framing. See the investment decision as a member of a class of decisions that you’ll probably have to take.”