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 |   As the first blog entry got exhausted. My second book |
| Evolution of Love Part 2 |
| Daniel Kahneman passed away recently. He was a Nobel prize winner for economics. He changed the world of behavioral finance Here are 10 human behavioral patterns he highlighted in his book Thinking Fast and Slow. 1️⃣ Our brain uses two systems: System 1 and System 2 System 1 is fast, intuitive and automatic. It is prone to biases and errors such as overconfidence. System 2 is slow, analytical, and deliberate. It is necessary for complex tasks requiring focused attention. 2️⃣ Irrationality Humans are not rational. We all make a lot of irrational mistakes. 90% of Americans think they can drive better than average and 70% think they are smarter than average. 3️⃣ Prospect theory The prospect theory suggests that people feel losses twice as hard as gains. Many people don't want to play a Heads or Tails game where they can win $100 but risk losing $50. You should take this bet every single day. 4️⃣ The Halo Effect The halo effect is a cognitive bias where your overall impression of a person influences your perception of their individual traits or qualities. If you like someone, you'll overestimate their capabilities and vice versa. 5️⃣ Availability heuristic The availability heuristic is a cognitive bias where you judge the likelihood of an event based on how easily it comes to mind. A good example is 9/11 which made people afraid of flying. 6️⃣ Sunk cost fallacy The sunk cost fallacy appears when you keep investing in something even if it's not worth it, simply because you've already invested resources in it. Think about choosing to finish a boring movie because you already paid for the ticket. 7️⃣ Confirmation bias People tend to seek out information that confirms their existing beliefs and ignore information that contradicts it. As an investor, always talk with people who have opposing views. It will be very insightful. 8️⃣ Hindsight bias The tendency, after an event has occurred, to believe that one would have predicted or expected the outcome. A good example is that after attending a baseball game, you might insist that you knew that the winning team was going to win beforehand. 9️⃣ Framing effect When the way information is presented influences your decisions and perceptions, we call it a framing effect. For example: studies have shown that 75% lean meat is usually preferred over 25% fat meat, even though it's the same thing. 🔟 Anchoring effect The anchoring effect is a bias where you rely too heavily on the first piece of information you receive when making a decision. If you first see a car that costs $100k and then see a second one that costs $70k, you tend to see the second car as cheap. |
Life has changed so much. Social media has taken over like never before and given rise to a new breed of 'fluencers' who seem to multiply quicker than rabbits. Till now, you had the generic one - Influencer. They know every trick in the trade and are able to modify their style to push anything. Going forward, these are some of the specialisation I see happening : Fitfluencer - fitness Travfluencer - travel Beaufluencer - beauty Cuisefluencer - food Clofluencer - clothes Medfluencer - medical This list can go on. So if your kid wants to specialize in Science, Arts, Finance etc....no no - choose one of the above. That's the future. #just #suggesting 🤪😝 |
| The Creator of the universe has designed life in such a way that despite all achievements and successes, the picture of life remains incomplete somewhere. Somewhere in it, the presence of flaws and imperfections reminds us of our humility. In the beginning of March, the world's most expensive wedding ceremonies in India caused a sensation worldwide. It also sparked discussions on Pakistan's social media. Mukesh Ambani, one of Asia's richest businessmen and the eleventh richest person in the world, is the founder and chairman of Reliance Group. The ceremony served the guests with 12,000 dishes for breakfast, lunch, afternoon tea, dinner, and midnight snacks. All the superstars of the film industry were seen dancing at the event. Despite the presence of famous glamorous personalities from around the world, the focus of the event was on the groom, Anant Ambani. Anant Ambani's presence in the event also raised concerns as he is suffering from a severe form of disease which cannot be treated with conventional medicines. He has been continuously given steroids for treatment. One type of steroids, corticosteroids, is known to cause weight gain. This leads to uncontrollable hunger, causing individuals to consume food excessively. Despite having billions of dollars in assets, Mukesh Ambani's beloved and youngest son is suffering from a disease for which there seems to be no solution other than the side effects of steroids. When his son was affected by the disease, resembling elephants, Mukesh Ambani converted acres of land into a safari park filled with facilities for the elephants' treatment, recreation, spa, and massage. Hundreds of tons of dry fruits are fed to the elephants daily in this safari park. This is just a glimpse of Mukesh Ambani's personal struggle with his sick son. He couldn't buy a single day of complete health for his son despite all his wealth. Mukesh Ambani, addressing thousands of guests at the ceremony, said that his life has not been a bed of roses but rather a journey filled with thorns. While Mukesh Ambani was speaking these words, the camera zoomed in on Asia's richest person's face, submerged in deep sorrow and tears streaming from his eyes. The pain and helplessness in those tears, that despite billions of dollars in assets, he couldn't buy a single day of complete health for his son. The Creator has created the world in such a way that the picture remains incomplete. In this incompleteness, it shows us the essence of a being that is complete! So instead of envying Mukesh Ambani's wealth, let's be thankful to our Creator for our incomplete picture of life. *Let's rejoice as we are, and express gratitude to the Creator...* 🙏🏼🌹🙏 |
| *Kiss in the tunnel* A Commanding Officer (CO), a Lieutenant (Lt), an old woman and her young daughter are traveling in a train and during the course of time get themselves introduced to each other and become temporary friends. The train goes through a tunnel and it gets completely dark. Suddenly there is a kissing sound and then a slap. The train comes out of the tunnel. The women and the Lt are sitting there looking perplexed. The CO is bending over holding his face, which is red from an apparent slap. All of them remain diplomatic and nobody says anything. The Old woman is thinking : “These aging Colonels are all crazy after girls. He must have kissed my daughter in the tunnel. Very proper that she slapped him.” The Young girl is thinking : “The CO must have tried to kiss me but kissed my mother instead and got slapped.” The CO is thinking : “Damn it. My Lt must have kissed the young girl. She might have thought it was me and slapped me.” Now guess what the Lt is thinking. Now hold your breath and read what the Lt is thinking……….. *"If this train goes through another tunnel I will make another kissing sound and slap my CO again. The Boss keeps harassing me all the time".* |
| Reasons why the US (South Korea, Japan) Yellow Sea exercise suddenly came to an end: This is a "feat" that not even the former Soviet Union has accomplished. China's "super" task force is approaching the United States, shocking the world! The United States' so-called largest-scale naval exercise in history was held as scheduled on China's doorstep. The United States' move is to deter China by threatening China's important political and economic centers! It’s only 24 nautical miles away, so dangerous! This also made many Chinese people smell the "smell" of war, which indeed caused concern among the Chinese people! Just when the Americans thought that China would mobilize all its forces to defend the capital, they did not expect that China would not fall into the trap at all! China insists on “you hit yours, I’ll hit mine!” On the eve of the US-Yellow Navy exercise, China actually assembled the largest and most powerful task force in history in the Western Pacific, including the Shandong aircraft carrier, 20 advanced warships, and 4 nuclear submarines! The total tonnage exceeds 200,000 tons! It can be said that China's "super" fleet is unprecedentedly powerful, and some military fans say it is definitely a "nation-destroying" fleet! What is surprising is that the Chinese fleet did not return to defend the Yellow Sea. Instead, after gathering in the Western Pacific, it suddenly broke through the first island chain and headed for the west coast of the United States! This is the rudeness of not reciprocating. Since the United States is blocking the door of China's home, then we should also go to the United States to visit! This move by China has greatly touched the United States. This may be the first time in history that a fleet of this size has approached the U.S. mainland. This also "shatters" the Americans' argument that their homeland is absolutely safe! It really has a huge impact! The current strategy of the United States is actually to copy the World War II model, stay away from the war at home and make a lot of war fortune on the rear! You see, during World War II, the whole world was bombed to pieces, but because the United States was far away from the battlefield, it became the center of world reconstruction. The United States used this to solve the serious economic crisis and surpassed the United Kingdom to become the world's hegemon! As for the Russia-Ukraine conflict, the United States is still copying this model. Europe has been brought to collapse, but the United States has no impact at all. It has made a lot of money from the war and made a lot of money! Therefore, the bottom line for the United States to trigger a war is that the U.S. mainland is not attacked, otherwise it would be meaningless! The Chinese Shandong aircraft carrier formation leads a "super" fleet composed of more than 20 advanced fleets + 4 nuclear submarines to advance towards the west coast of the United States! It is to tell Americans that if a war breaks out, the United States will not be "safe". China has the ability and strength to cause a blow to the United States! China's move will definitely put tremendous pressure on the US military, and it will also make the world soberly aware that China really has the strength to maintain world peace! This is the reason why the US "Yellow Sea" military exercise suddenly ceased, because China really did it |
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Thanks for sharing.