Dive into the archives.


  • A New Silk Road

    Gradually it has dawned on me that the new Silk Road is rather like dream-time: with tracks everywhere and separate tribal dreamings singing songs with different lyrics but overlapping and similar tunes. OK: so I have Australia on the mind; and the upcoming trip with talks about investor psychology in light of all we know [...]

  • Waiting on Investments

    Retail investment requires two kinds of trust:  one monetary and the other, a trust in expectations. Together, their demand for fulfillment is that the investor must wait. Necessarily, the investor spends a lot of time waiting: waiting for a good market entry point; waiting for a target exit point; waiting for market trends to turn; [...]

  • The Dynamics of Public Blame: BP (and Groupon)

    I’ll be discussing the dynamics of blame and BP at the weekly case conference of the William Alanson White Institute, NYC; on February 22 at 10 AM. Here’s the announcement: February 22, 2011 – Blaming BP: Examining the Psychodynamics of Blame Ian Miller, Ph.D., NYU Postdoc & WAWI Org. Prog. The psychodynamics of blame will [...]

  • The Psychology of Investment “Value”

    Warren Buffett has famously said about equities that “price is what you pay, value is what you get”. Hearing this, the investor nods: yes, it sounds correct— buy cheap, sell dear. But buy cheap, sell dear isn’t so easy. Something must transpire in order for this to happen. That something is the market’s attention and [...]

  • The Essential Psychology Within Financial Investment

    We know corporations are legally bound to maximize self-interest. What about investors? The act of investment is in “laying out money or capital in an enterprise with the expectation of profit” ( wordnet.princeton.edu/perl/webwn). Investment in financial markets occurs through the purchase of financial instruments. Profit is expected is through some combination of interest, income, and [...]

  • It Had Been Awhile and then: Paul Valery

    Blogging friends had warned me that my early enthusiasms would wane. “You’ll stop writing one day,” they said. “There are more addresses out there than there are bloggers.” Ghost writers, or perhaps Zombie sites. And they were right. Consulting projects and teaching assignments claimed my attention. Until, one day, last week, it occurred to me [...]

  • What Banks Know

    Some years ago, before Depression panic gripped the world, I had the opportunity to consult with several members of the banking industry. Each was involved in an obscure area of work, destined to become headline news within a few years. And whether discussing complex derivative trades or the structuring of collateralized debt obligation tranches, each [...]

  • Two Models of Self: Real and Ideal

    Practically, the Self comes in two models: the Self “I know”, or real; and the Self “as advertised”, or ideal. The difference is not simply a walk through the door separating the privately comforting reserve of one’s home from the world of non-intimate others outside it, with its bustle of continuous exchange in buying and [...]

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