Links for 22nd May, 2019

  1. “Perhaps the most typical thing about Bergstrom’s gambling was that for him, as for so many others, the money seemed to signify something else. Gamblers often describe how, when the chips are on the table, money is transformed into a potent symbol for other psychic forces. In Bergstrom’s case, the action on the craps table seemed, like a love affair, to be a referendum on his self-worth.”
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    What are the motivations for gamblers? How do they view money? Is it the means to an end, is it a metaphor, is it symbolic? How might the lessons one gleans from reading something like this be applied elsewhere? For these reasons, a lovely read.
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  2. “Virat Kohli, Mahendra Singh Dhoni, Rohit Sharma, Suresh Raina, Dinesh Karthik, KL Rahul, Kedar Jadhav and Ambati Rayudu are all collectors if you go by their IPL batting. I had mentioned in the copy (which later got edited out) that it is worrisome that the Indian batting lineup ahead of the World Cup has a sort of sameness to it.Fortunately, while they all bat the same way in T20 cricket, they are all different kinds of beasts when it comes to One Day Internationals.”
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    Beware of relying too much upon data, but that being said, the cricket fans among you might want to subscribe to this newsletter, which analyses cricketing data to come up with interesting ideas about the upcoming world cup.
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  3. “Well, you know what Graham understood, I think, better than probably anyone who had written about investing before him is that there’s a big difference between what people should do and what they can do. Another way to think about this is that distinction between what’s optimal, and what’s practical. And we pretty much know how people should invest. Investing is – as Warren Buffett likes to say “It’s simple, but it’s not easy.” And dieting is simple, but not easy. In fact, a lot of things in life are simple, but not easy. And investing is a very good example. I mean, if all you do is diversify, keep your costs low, and minimize trading. That’s pretty much it. It’s like eat less, exercise more. Investing is just about as simple, but it’s not easy. And so Graham understood that people are their own worst enemy, because when they should be cautious, they tend to take on risk.”
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    David Perell interviews Jason Zweig, and it is an interview worth reading, and perhaps even re-reading. I have linked here to the transcript, but if you prefer listening, you should be able to find out the link to the podcast.
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  4. “Any time a central bank – unless it has a completely sealed closed economy – raises or cuts interest rates, it is taking currency and interest rate risk vs. the major reserve currencies, even if it is not directly buying or selling foreign currency.”
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    A short, clear and concise article about the RBI’s rupee-dollar swap.
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  5. “Diets have changed most dramatically in Africa, where 18 countries have diets that have changed by more than 25 percent. Sugar consumption in Congo, for example, has increased 858 percent since 1961.”
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    A truly excellent visualization – worth seeing for a multitude of reasons: data about nutrition, visualization techniques being just two of them. And that statistic about sugar consumption in Congo is just breathtaking.
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