We Aren't Natural Statisticians. What We Are

I'd Stumbled Into A Job At Salomon Brothers In 1985, And Stumbled Out, Richer, In 1988, And Even Though I Wrote A Book About The Experience, The Whole Thing Still Strikes Me Me As Totally Preposterous-which Is One Reason The Money Was So Easy To Walk Away From.

Icelandic People Are Inbred. And They Have A Sense Of Themselves As Genetically Special, And A History Of Risk-taking Because They Make Their Living On The High Seas Fishing. Assets Generally Rose In Value During This Period, And So It Looked Like They Actually Knew What They Were Doing.

That's What Happens When You're Thirty-seven Years Old: You Do The Things You Always Did But The Result Is Somehow Different.

The Incentives Are Still Rotten, And People Are Still Paid To Do Things They Shouldn't Be Doing. The Reforms Did Not Really Address The Incentives, The System Is Still Dysfunctional And There Are Still Behavioural Issues That Need To Be Addressed.

The Men On The Trading Floor May Not Have Been To School, But They Have Ph.d.’s In Man’s Ignorance.