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Optimism and pessimism go hand in hand. In finance, we are told to save like a pessimist and invest like an optimist. The short term is full of setbacks, problems, breakages, depressions, pandemics, errors, but if you can stick around long enough, you can experience long-term growth....
An important lesson from history is that big events are more complicated. It makes forecasting difficult, politics nasty, and lessons to learn from it harder.
We may demand simple answers to explain outlier events. However, it's almost impossible for something big to...
The risks we talk about are seldom the most important in hindsight. The real risk is what no-one sees coming. For example, September 11th, Pearl Harbor, The Great Depression. These events surprised nearly everyone and instantly shoved the world in a new direction.
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History is a treasure-house of learning, and as many books teaching us lessons from history point out, what was true in the medieval ages is often true even now, though the circumstances, technology and society have gone through a sea of changes.
The things that are worth knowing a...
Often leaders have chosen to stay on when they should have bowed out. Without intending to, they often undo much of their own work and cause problems for their successors.
An increasingly frail Winston Churchill should not have tried to be prime minister again in 1951. His government...
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