According to science: We are bad at making decisions. Our decisions are based on oversimplification, laziness and prejudice. And that's assuming that we haven't already been hijacked by our surroundings or led astray by our subconscious!
Featuring exclusive footage of experiments that show how our choices can be confounded by temperature, warped by post-rationalisation and even manipulated by the future, Horizon presents a guide to better decision making, and introduces you to Mathematician Garth Sundem, who is convinced that conclusions can best be reached using simple maths and a pencil!
Reuters Insider Roadshow Is China in a Bubble : Arthur Kroeber founder of Dragonomics and Marc Faber editor of the Gloom and Doom report :
Charlie Munger's memorable Quotes from this interview: This is the third time that Warren and I have seen our holdings in Berkshire go down, top tick to bottom tick, by 50%, I think it's in the nature of long term shareholding, of the normal vicissitudes in worldly outcomes and in markets, that the long term holder has his quoted value of the stock go down by say 50%. I think you can argue that if you're not willing to react with equanimity to a market price decline of 50% two or three times a century, you're not fit to be a common shareholder and you deserve the mediocre result you are going to get compared to the people who do have the temperament, who can be more philosophical about these market fluctuations.
Charlie Munger is Warren Buffett's long-time business partner, and the Vice-Chairman of Berkshire Hathaway. Like Buffett, he was born in Omaha, but became a lawyer in Los Angeles before meeting Buffett, and becoming a fellow investor. The two spent many hours on the phone together, discussing business, and evolving the approach to investing that has paid off so spectacularly for them both. Today, Munger says he may only speak to Buffett once a week, but his key influence on the success of Buffett's enterprise over many decades is undisputed.