That is called a fallacy of composition, where rational actions at an individual level become dangerous and destructive in ...

Extreme mood swings are characteristic of a psychiatric condition called bipolar disorder. Patients can cycle between ...

It’s something that happens automatically and we can usually just ignore. That’s not always the case and can cost you a ...

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We talk frequently about the way central banks and governments affect the economy. In the grander scheme of things, though, whatever the Fed does is more like throwing a hand grenade into a large ...

Today we continue reviewing Ray Dalio’s latest book, How Countries Go Broke. If, like me, you fear that you may soon live in such a country, Ray’s work reads like a guidebook to the future. But in ...

“A speculator is one who runs risks of which he is aware, and an investor is one who runs risks of which he is unaware.” – John Maynard Keynes “The biggest mistake investors make is to believe that ...

“Baby boomers who are counting on the stock market are in trouble.” – Robert Kiyosaki “Pension and health care costs for our employees are going to bankrupt this city.” – Michael Bloomberg Over the ...

Two weeks ago, I opened this letter by noting the election uncertainty, once over, would give way to a different uncertainty about what comes next. That’s where we are now. I fully expected a closer ...

Debt is a curse that can also be a blessing, depending on how the borrower uses it. Sadly, human nature seemingly ensures we often use debt unproductively—and not just as individuals. Governments have ...