In his book – Against the Gods: The Remarkable Story of Risk, Peter Bernstein explains why investing is a logicians trap. Here’s an excerpt from the book: We cannot enter data about the future into the computer because such data are inaccessible to us. So we pour in data from the … Read More
Against The Gods: The Theory Police & When It Really Counts
In Peter Bernstein’s classic investing book – Against The Gods, he discusses how the abundance of market irrationality actually makes the market appear rational. Here’s an excerpt from the book: The evidence presented in this chapter gives only a hint of the diligence of the Theory Police in apprehending people … Read More
Peter Bernstein: The Riskiest Moment In Investing Is When You’re Right!
Here’s a great interview with Peter Bernstein, author of Against The Gods – The Remarkable Story Of Risk, speaking with Jason Zweig in which he discusses managing risk and surviving as an investor. Here’s an excerpt from the interview: Understanding that we do not know the future is such a … Read More