The Surreal Weekend

The world has changed over the past few weeks in ways that are likely to leave lasting scars for years to come. In the United States, the atmosphere can only be described as surreal. The Coronavirus pandemic has almost completely

Thoughts on the Coronavirus Correction

Financial markets have finally come to the realization that Coronavirus is a story that is not going away anytime soon. As long as the virus was confined mostly to China and other cases could be readily explained, markets in the

In Praise of Irrationality

“The trouble with market research is that people don’t think what they feel, they don’t say what they think, and they don’t do what they say.” — David Ogilvy Beautiful equations are seductive. Mathematics brings logic and structure to a

Farnam Street’s Great Mental Models

“So whatever you wish that men would do to you, do so to them; for this is the law and the prophets.” — The Golden Rule as expressed in Matthew 7:12 Hanlon’s Razor advises us to give others the benefit

The Case for Balanced Skepticism

Social norms govern how individuals interact with each other and with society at large. Many norms have been incorporated into legal systems but most continue to be informal conventions. A significant percentage of the population will fail to adhere to

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