November 24, 2020 |

reflections. 1/ the most improtant thing in markets and life is to be adaptable' the ability to adopt a way of life to the prevailing circumstances, the ability to find a way of achievingdesirable ends to the prevailing circumstancesn " the ability to siove a problem"

the adaptability qutoe is from Man on earth a fascinating sooy of how all different peooplel and occuarpions and geilgraphy adapt to their particular circumstances. 2 it brings to mind Barton Biggs excelletn book wealth war and wisdom. he gives numerous examples biggs shows how when darkest inworld war 2 an and t the us was losign battlbe iliek Pearl Haarbor and Rommel was mopping upp and fdr ad inaugurated to pessimism like we have wintessed the market looked ahead and went up amid a max of pessimsm

3 the psycholoogy of speculation harper 1926 containsmorewisdom about spec than alllthe nobel prizes that have come down the road for cognitivsbbiaes etc. Here a typical quote" the sold out bulll becomes wretchedly aware that he has dropped otuof the race before the course

sold out bull . 3 was completedand so has thrownout an opportunity to make milllions more " and to make matters worse thay want to make it in the same way thye missed it the first time 

4. the progressives areholding theirfire about meeing with acertain group espousing " matters" the understand that most votes feel that nowadsy ther is more like to be a bias for preference than discrimination. the progressives wailt until they settle in.then the deluge

the vaccination tests seem like their cost benefit is neg. i assume 25000 lacebo that had 100 positive versus2 5000 that had readl vaccine with only 5 who had disease. thus 0.4. % you get disease. and if you get it , chances are 2 you have sympoms. so for

100000 that didnt have test thhey 2 willl get symptoms the disruption to 99998 the time spent the possible side effects of the 99950 that take the vaccine would seem to be more han the net negative to the 2 who ddint take it. let's say im off by factor of 5 or 10. same conlsn.

many chemo drugs extend your life by 6 months at teh cost of 6 month to a year of misery and side effects and vistis away from home to hospital. ifis it worth it?

half of 45000 in study received placebo. so my figures seem to order of 5 or 10 to b3e correct


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