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The mere threat of One Nation will be enough - Fat Tail Daily
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The mere threat of One Nation will be enough - Fat Tail Daily
“Show me the incentive and I’ll show you the outcome,” said the investment legend Charlie Munger. It’s probably the most important maxim for understanding humans. If you want to know what someone is going to do next, you only need to know what trade-offs they face. Then it becomes obvious. Fund managers benefit from assets under management, not returns. CEOs commit fraud because they want to make a quick buck rather than exposing the problems th…
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