Join 📚 Josh Beckman's Highlights
A batch of the best highlights from what Josh's read, .
I intended for them to playact a state of communal bliss. As it turned out, the girls didn’t have to pretend. They jumped and half-skipped around each other each time we descended from the car and trekked into spaces of make-believe.
Girl Pictures
Justine Kurland
Yes, right, if you have a foreign-exchange derivative product that carries “lucrative fees,” that *means* that the customers don’t understand it. (If they understood it, they’d demand lower fees.) If you have a product like that, you will naturally be tempted to sell it to as many customers as possible. And then every so often, something will go wrong, and you’ll have to spend a year or two resisting that temptation and having contrite no-materials meetings with the customers to make them feel better.
Money Stuff: UBS FX Trades Were Too Good
Matt Levine
History is mostly the study of surprising events. But it is often used by investors and economists as an unassailable guide to the future. Do you see the irony? Do you see the problem? It is smart to have a deep appreciation for economic and investing history. History helps us calibrate our expectations, study where people tend to go wrong, and offers a rough guide of what tends to work. But it is not, in any way, a map of the future.
The Psychology of Money
Morgan Housel
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