You Have To Live It To Believe It Part 2 of 2
By Morgan Housel Apr 9, 2019
Part 2: Can We Ever Learn?
The big question is: Which investing group is better off? The veterans who lived through a crash and came out paranoid, or the newbies who never experienced it and are now willing to take bigger risks?
I don’t think there’s ever a clear answer to that question.
Long-term business and investing skill is the intersection of getting rich and staying rich. Different generations whose formative experience was calm and growth-oriented may be better at getting rich – they’re willing to take risks.
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You Have To Live It To Believe It Part 1 of 2
By Morgan Housel Apr 9, 2019
Richard Held and Alan Hein raised 20 kittens in pitch black darkness. Which is the kind of thing you should only do if it’s necessary to prove a point critical to understanding how the world works. Thankfully they did just that.
The two MIT cognitive scientists, working in the 1960s, showed that seeing the world around you was not enough to understand how it works. You had to actually experience that world to learn how to operate in it.
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Emailed to Recaps:
Sam Oliver: This month, a new section of Basel III came into effect: the status of the gold that is held in the balance sheets of the banking system has received an upgrade.
Gold is now considered a first-class safe asset and will be worth 100 percent of its market value, as opposed to 50 percent so far.
In other words, gold has risen in its financial value at the expense of bonds and securities of various kinds, behind which there is no tangible asset.
Today's analysts are debating whether the world is once again approaching the "gold standard," a policy whereby every dollar is pegged to and backed by actual gold that sits in the basement of central banks.
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KTFA:
MilitiaMan: After Banks Closed on Thursday.. Wow! ~ MM ~ BB
Smalls are available! holy smokes.. If I read that right we are so very very very (fireworks)
They are telling us they have 250, 500, 1,000s and now can effecitvely make change with smalls!! This is for the citizens! This is effectively game over, imo.. I have always said we will know in advance, yet will have to wait to do anything about it.. lol
DELTA: Central Bank Basra branch introduces a window to provide small cash categories
The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000dinars.
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