Monthly Archives: December 2014
Okay. Much has been written about resolutions for the New Year. And fancy that, New Year’s resolutions seem to repeat themselves on a yearly basis. That is: not only the resolutions themselves seem to repeat themselves again and again, but also the topic as such. Hm.
What does that say about our creativity? – Anyway. I thought, I would be a little more creative this year (we are still counting the year 2014 CE).
A couple of years ago I happened to be in India over Christmas. Although it wasn’t the first time for me to be abroad during that time it certainly was the first time to have Christmas explained by a Swami – a most wondrous and authentic experience. The love he expressed for Jesus Christ and the Glory of God clearly manifested his own authority on the subject.
The other day the press had fun bashing economists in general. So, let’s talk for moment about some economic beliefs.
One thing I learnt during the years studying economics at University was that everything depends on something (inter-dependancy being a key word) and that the universe will always naturally seek to find a sustainable equilibrium; the less we try and control and influence this “invisible hand” the quicker and less painful the equilibrium will be able to find itself.
Last week Basel, Switzerland was in the focus of the international press as Switzerland was the host for the year-end OSCE-conference (Organisation for Security and Co-operation in Europe).
The OSCE led a very quiet and in the public eye less known life until the crisis in the Ukraine revived its status. As a “lucky coincidence”, the OSCE was chaired by Switzerland. Some say a very happy constellation indeed, as of course Switzerland has a long history in providing a platform for differing parties to come together and discuss their issues on neutral ground. This was not always the case though. Continue reading
One of the issues that can be observed especially in the financial industry is the “herding” phenomenon. Already during 80s it was perceived as one of the main causes for the then ensuing international debt crisis, that kept the industry busy for the next decade.
What does the “herding” phenomenon mean? Today we would say that people are following a financial “Guru” that then transmits into the whole industry thinking and acting alike. We could also say that there are a few strong, charismatic and rationally intelligent people in the industry that got it right in terms of where the market is heading.
Hence, because these financial “Gurus” got it right a few times in the past, people tend to believe that they will always get it right… Continue reading