Wednesday, December 1, 2010

W's Awful New Book

Fantastic (scathing) review in the New Yorker of the new book by W:

Every memoir is a tissue of omission and evasion; memoirs by public figures are especially unreliable. What’s remarkable about “Decision Points” is how frequently and casually it leaves out facts, large and small, whose absence draws more attention than their inclusion would have. 
The way W made "decisions" is the opposite of what we try to do in investing.
He once told an elementary-school class, "Is it hard to make decisions as president? Not really. If you know what you believe, decisions come pretty easy. If you’re one of these types of people that are always trying to figure out which way the wind is blowing, decision making can be difficult."
Haha! Maybe from now on, Credit Bubble Stocks will have shoot-from-the-hip investing. "I reckon that Apple stock look purty good." I can't imagine he ever read Kahneman and Tversky's Judgment under Uncertainty: Heuristics and Biases. He would probably look at the cover and say "This is borin'. Let's git us down to Crawford and cut us some brush."

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