March 29, 2011

Ignorant Certainty: (“I know I don’t like it, even though I don’t know what it is.”)

LISTEN: Ignorant Certainty (11:59min) The French essayist Michel de Montaigne (1533-1592) sagely observed: “Nothing is so firmly believed as what is least known.” Although Montaigne’s comments are more than four centuries old, they still apply today – especially when the topic is cash value life insurance. In the United States, the first forms of cash …

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Getting Slapped by the “Fat Tail”

LISTEN: Getting Slapped by the “Fat Tail” (10:21min) In theory, there is no difference between theory and practice. In practice, there is. Yogi Berra People aren’t rational. That’s the basic conclusion of all sorts of studies in behavioral finance, a discipline which tries to understand what motivates and determines people’s financial decisions. Greed, fear, the …

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