Health & happiness. The rest is overhead.
Pursue what matters most to your well-being, not to your appetite. 
To understand is to be free.
 Spinoza recognized that learning is as necessary to a free life as oxygen.  
If it is in equilibrium, it must be dead.  
John Holland's famous remark underscores the fact of complexity.
The New Mexico Securities Division produced a series on investment fraud. This documentary is based on real life events that affected real life people. Watch it.
"Mediation offers some clear advantages over adversary processing: it is cheaper, faster, and potentially more hospitable to unique solutions that take more fully into account nonmaterial interests of the disputants."
"Mediation is best understood as an extension of the negotiation process. It is an informal process based on principles of individual sovereignty and self-determination. In the context of mediation practice, this means that the parties affected by a dispute decide the outcome of the dispute."
"Professor Robert A. Baruch Bush and I began asking the core questions about what mediation should be and what would make mediation practice consistent with the values the field professed. Our effort was aimed at aligning practice with an underlying ideology that would preserve its core values. This ideology about mediation practice stems from the same roots as the ideology that has influenced social science research. The transformative model of practice is a shift away from the problem-solving vision of what practice is to a much more interactive, communication-based view of what conflict is and what productive changes in it look like."
Alternative Dispute Resolution (ADR) methodologies, arbitration, negotiation, mediation, etc.
"As compared with other forms of dispute resolution, the mediation process can have an informal, improvisational feel. Here are some bargaining strategies to overcome impasse at the negotiation table in alternative dispute resolution scenarios as well as an outline of the mediation process."
"Arbitration, mediation, and the dispute resolution process – how negotiators can effectively use alternative dispute resolution (ADR), conflict management and conflict resolution techniques to resolve disputes, repair relationships, and find opportunities for value creation at the bargaining table."
Academic research shows that people are bad at finance. Most professional advisers and money managers don't beat the market, and choose riskier selections than are required under most circumstances. Fortune 500 corporations often find the need to modify or correct their financial reports. Banks go broke. Pension trusts reneg on promises. Cities and States reorganize. National budgets don't balance. As Isaac Newton said, “I can calculate the movement of stars, but not the madness of men.” 



ON TRUST 1998.pdf
Much of how we decide to do anything depends on like and trust. If we don't like or trust the people, products, or positions, we pass. Evolution and culture have us wired to behave in common, fundamental ways. 



Most business owners have no good idea what their businesses are worth. They usually decide price based on nonempirical standards or a simple formula chosen from the IRS or accounting models. There are no easy, right formulae.  
No one thinks a fraud can happen, except to others. The Madoff case shows clearly how like and trust can work against the unsuspecting. Anyone can be had.
If no planning is done, no reasonable expectation may be held.
The public tends to take a dim view of finance, stoked by the media and excessive behavior of the financiers themselves. The industry is to blame, its arrogance real and perceived only serving to stretch the distance between it and the consumer to almost impossible extremes. But finance is the life blood of commerce and government.  


Warren Buffett is one of the most highly-regarded investors in the world. He has a singularly simple way of expressing complex concepts, especially about his approach to identifying good investments and managing risk. If you can't do what he does - and few can - then do seek competent counsel and a world-class, low-cost platform.




In this Journal of Financial Economics paper, noted financial authors Eugene Fama and Kenneth French develop empirical models to explain the effects of company profitability and investment on stock returns.




There is a recent resurgence of argument in favor of market inefficiency, notably by the so-called behavioral finance adherents (and Warren Buffet, who has always been against the Efficient Market Hypothesis). Nobelist Gene Fama lays waste to common criticisms of EMH.



You cannot know if you do not learn and learning is an activity, not a state. 



















































































































































































































































































Carmel Valley CA        




tom at tpkco dot com


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