Less Facts, More Analysis
MOOSE:
Enron, National Security, Nazi Germany,Using All Available Information, Fact Gathering v. Analysis, Yale Law Professor's Law Review Articles, and some students from Cornell. A little something for everyone from America's most interesting writer.
http://www.newyorker.com/printables/fact/070108fa_fact
posted by UCLaw98 @ 2:55 PM
4 comments
4 Comments:
TODD
I can only say that I found this very interesting. I will now spend the next two weeks misrepresenting what he actually said. Moose, did you read Tipping Point?
I read both Tipping Point and Blink. I liked -- not loved -- both of them. I prefer his essays and articles over his books.
-Moose (from India)
See, I kinda saw the point of the article that if everything was out in the open, did they really do anything wrong?
It seems to me that one way to solve the problem is that investors ought to leave investing to the experts.
These weekend traders are taking their financial lives into their own hands by thinking that they can outsmart the professionals.
Similarily I would never trust some broker who relies on "hot tips" etc. That type of investing is more akin to gambling than investing.
Then the liable parties will be the investor consultants (i.e. traders) who are derelect in their duty (i.e. pushing "hot" stocks without performing due diligence and/or staying away from companies who engage in too-complicated-to-be-rational business practices).
The other solution is (if you're like me) to just invest in a few well-diversified mutual funds which are not actively traded; ideally index funds.
As a relevant aside, companies ought not be able to gamble with employee's pensions. While not mentioned here, my understanding is that Enron enticed their own employees to over-invest in Enron. This scheme to over-whelm the uninitiated is unconscionable and ought to be able to be cured with a few small regualtions (e.g. passive 401K-type pension money must be put into broad based investments).
-Moose
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