Wall Street Oasis
I also write for Wall Street Oasis, a website dedicated to the investment banking and finance community. Below are links to my WSO blog.
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Fear and Loathing on Wall Street
“A study by Boston College has found that the extremely wealthy fear greater things than the beach house having termites, Forbes misspelling their name, or the kids picking up a hispanic accent from the housekeeper. Nor are their innermost fears spilling caviar on their ascot, not being able to find a dessert wine that perfectly compliments the imported goat cheese, or leaving their favorite cashmere cardigan in Paris.”
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“The key finding here is that the students tended to report higher numbers than you’d expect from a fair die. So, for example, 24.5 per cent of participants said they’d rolled a six whereas a fair die should have produced a figure of 17 per cent. The researchers estimated that this means 9 per cent of participants lied about rolling a six. This is substantially higher than the figure obtained in a previous study when participants were playing for their own cash reward and it therefore shows how people indulge in moral relativism. More people seem to think it’s okay to cheat if it’s for charity, than if it’s for their own gain.”
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“This year, the BRICS countries provided 56 percent of world GDP growth, while the share of the richest of seven (G7) is only 9.5. In 2035 the BRICS countries will outrun G7 in terms of the economic potential. The volume of trade within the block grew from $27 billion in 2002 to $250 billion in 2011.”
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Dollar Shaving
“Who else is tired of paying outlandish prices for razors and replacement blades? Being an almost Sasquatch-like guy when it comes to growing facial hair, I begrudgingly pay more to Gillette each month than I do on my internet bill. But what if there were a company that would ship you razors and blades each month, similar to your Netflix subscription? And what if it were only a fraction of the cost of most store-bought razors?”
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“As the world enters the dangerous next decades of the Anthropocene, we must intensify our efforts to achieve a new course, one that ensures poor countries have the right to develop, and all countries have the right to happiness, while simultaneously curbing the human-induced destruction of the environment. It is too late to head off entirely climate change and loss of biodiversity. There is still time, though, to mitigate the damage and to build resilience to the changes ahead. The quest for happiness will be carried out in the context of growing environmental risks.”
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“Piff and his colleagues suspect that the answer may have something to do with how wealth and abundance give us a sense of freedom and independence from others. The less we have to rely on others, the less we may care about their feelings.”
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“Most people don’t know the basic scientific facts about happiness — about what brings it and what sustains it — and so they don’t know how to use their money to acquire it. It is not surprising when wealthy people who know nothing about wine end up with cellars that aren’t that much better stocked than their neighbors’, and it should not be surprising when wealthy people who know nothing about happiness end up with lives that aren’t that much happier than anyone else’s. Money is an opportunity for happiness, but it is an opportunity that people routinely squander because the things they think will make them happy often don’t.”
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“The most important communication you make each day doesn’t depend on what you say as much as it how you appear when you say it. Even the brightest minds can fail to reach success if they have horrible nonverbal communication. Unless you’re counting on finding the rare blind interviewer, it’s therefore important you not only practice the words you’ll use to respond, but also how you’ll physically present yourself. By the time you have entered the room, shook hands, and sat down, the interviewer already has a preconceived perception of you based nearly entirely off of nonverbal communications.”
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“Luck doesn’t fill out a college application for you. Luck doesn’t give you high grades (although during finals many of us end up praying it will). Unless won in a raffle, luck doesn’t take out an auto loan and get you a vehicle. And, unfortunately, luck isn’t likely to find you a date this weekend.”
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“We are all familiar with the term inflation. Most of the time it refers to prices and money supply, and is discussed on a regular basis. But few mention inflation’s ugly stepchild, “panflation”.”
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”The theory is that elevated testosterone levels in the bloodstream of the winner—which in some species last for months—will help him in his next bout. Testosterone doesn’t just boost confidence, it raises the blood’s oxygen-carrying capacity and lean-muscle mass. With each bout the process repeats itself: The winner’s testosterone level keeps climbing, making him fitter, stronger, and more confident, and raising his odds of winning.”
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In addition to your name, Social Security number, birthday, and income, you may soon be asked to provide your Facebook, LinkedIn, and other social network info when applying for a loan.
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For Lack of Better Terms 