Make Fewer Decisions
One powerful and often overlooked corrective to poor decision-making should be obvious – make fewer decisions.

Markel’s silver year
Notes from Markel’s 25th anniversary brunch.

Muppet Portfolios
We were discussing yesterday how 1 in 10 of our new accounts come in with portfolios holding literally 100s of positions. Mind you, this is not a family office with $150 million dollars, but rather a portfolio 1% of that size. There is no rational reason for these sorts of assemblages to be holding 100+ positions.

Simpson’s Paradox
If the effect of the observed explanatory variable on the explained variable changes directions when you account for the lurking explanatory variable, you’ve got a Simpson’s Paradox.

European Commission Graph of the week: Ageing report
This infographic highlights the major demographic changes projected to take place over the next 50 years and their impact on public finances. 2 workers per pensioner by 2060.

Source: European Commission
Source: European Commission
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