tag:blogger.com,1999:blog-4185740361476149540.post8939494343556776260..comments2024-02-15T00:40:37.565-08:00Comments on The Biz of Life: Gambling with Other People's MoneyThe Grouchhttp://www.blogger.com/profile/16355057736314451831noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4185740361476149540.post-38047931685883938032010-05-05T05:52:09.810-07:002010-05-05T05:52:09.810-07:00The Encore Career Telesummit is by far the largest...The Encore Career Telesummit is by far the largest and most comprehensive event of its kind, ever. The lineup of world-class speakers, information-packed presentations, and jam-packed weekend event is guaranteed to draw thousands of listeners from all over the globe.<br /><br />Visit <a href="http://www.encorecareerinnercircle.com/public/Encore_Career_Telesummit_Affiliates.cfm" rel="nofollow">Encore Career</a>Lin Schreiberhttp://www.encorecareerinnercircle.com/public/Encore_Career_Telesummit_Affiliates.cfmnoreply@blogger.comtag:blogger.com,1999:blog-4185740361476149540.post-12774778420577175762010-04-28T13:13:32.359-07:002010-04-28T13:13:32.359-07:00When I get the time I'm going to read this bec...When I get the time I'm going to read this because the subject fascinates me and incentives are always worth analyzing. I, of course, have my own theories and like many others they point to Greenspan and Bernanke.<br />One area, though, I don't think is well appreciated is the herd instinct and it is a bit more subtle than people think. When markets go crazy and you're an institutional manager it is very difficult to do what you feel is right because you are in a performance derby and it puts a lot of pressure on you. A good example is 1999. Many people felt that the market was way overdone as it was gaping upwards but if they sold stocks and the market craziness persisted their performance would suffer, it would be widely reported by the consultants and accounts could be lost - big accounts! The safe way to play it is to go along with the crowd.<br />The same thing happened in 2006 and into the fall of 2007. <br />When I left the institutional business and focused on managing my own money where I didn't have to answer to anyone it was a big relief.DIY Investorhttp://rwinvesting.blogspot.comnoreply@blogger.com