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How Russian opposition
leader Alexey Navalny was poisoned?
John Le Carre passed away last week. Here is a real
life incident happening now which Le Carre would have been proud to write.
A Russian agent sent
to tail opposition leader Alexey Navalny has revealed how he was poisoned in
August — with the lethal nerve agent Novichok planted in his underpants.
disclosure from an agent who belonged to an elite toxins team in Russia’s FSB
security service came in a lengthy phone call following the unmasking of the
unit by CNN and the online investigative outfit Bellingcat last week.
In what he was told
was a debriefing, Konstantin Kudryavtsev also talked about others involved in
the poisoning in the Siberian city of Tomsk, and how he was sent to clean
Good old decency pays
Decency is one of
the attributes that leaders should possess. The core message in David Bodanis’
book, “The Art of Fairness”, can be found in the subtitle: “The power of
decency in a world turned mean”. The Empire State Building was constructed in
just 13 months, and that included the dismantling of the Waldorf-Astoria hotel
that sat on the site. Paul Starrett, the builder, treated his workers rather
well by the standards of the time, paying much attention to safety and paying
employees on days when it was too windy to work. Daily wages were more than
double the usual rate and hot meals were provided on-site. The concept is known
as “efficiency wages”. Companies that compensate workers well and treat them
fairly can attract better, more motivated staff.
The bank robbery capital of
In 1980s Los
Angeles, a bank was robbed every hour of every day. Between 1985 and 1995 the
approximately 3,500 retail bank branches in the region were hit 17,106 times.
1992, the worst year of all, there was an almost unimaginable 2,641 heists, one
every 45 minutes of each banking day. On a particularly bad day for the FBI
that year, bandits committed 28 bank licks.
With more than six
million vehicles and more than 1,000 miles of freeway upon which to roam, Los
Angeles has created a landscape ideal for bank robberies. By hitting a bank
near a freeway onramp, a holdup man can jump on and off and be anonymously
cruising surface streets miles away in a completely different police
jurisdiction before the cops even get to the crime scene. Switch to a cold car
or swap your stolen plates for legal ones and… see ya.
Why behavioural economics is
We spend too little
time questioning our understanding of the decisions or observations other
people make. If we believe they are in error, we should first question whether
the error is ours. we need to inject some humility into our assessment of other
people’s decisions. We need stop underestimating the intelligence of other
people. We need to tone down the glee we have in communicating sexy,
counterintuitive experimental findings that demonstrate errors by others. We
need to stop making glib assumptions about what other people want and how they
can best achieve their objectives. And importantly, we need to stop being lazy
storytellers who don’t subject ourselves to the same critique that we would
apply to someone else.
Compound capital over long periods
of time for wealth creation
Buffett’s secret is
that he’s been a good investor for 80 years. His secret is time. Most investing
Once you accept that
compounding is where the magic happens, and realize how critical time is to
compounding, the most important question to answer as an investor is not, “How
can I earn the highest returns?” It’s, “What are the best returns I can sustain
for the longest period of time?”
That’s how you
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