implementation

It also entails understanding something very specific: a situation (in its broadest sense, be it mental, physical, or something as un-situation-like as an empty room) is inherently dynamic. And you, by the very action of entering into it, shift it from what it was before your arrival to something altogether different.

Watson serves as a constant reminder of what errors are possible. As Holmes puts it, “In noting your fallacies I was occasionally guided towards the truth.” And that is no small thing. Even in asking the smallest questions, ones that seem entirely obvious to Holmes, Watson nevertheless forces Holmes to look twice at the very obviousness of the

At its core, a behavioral statement is simply a set of binary conditions that can either be satisfied or not. A typical behavioral statement has five variables that come together into a single sentence: When [population] wants to [motivation], and they [limitations], they will [behavior] (as measured by [data]).

information about the vast plethora of other jams in the world, and good luck trying to figure out which one of the three is best, since they are essentially the same. To find what is right for you, you want an arrangement like strawberry, marmalade, and kiwi—clearly differentiated such that by trying all three, you learn a lot about what works for

Everything is sales. This is usually framed as career advice—no matter what your role in a company is, your ultimate job is to help sales.

In fact, there’s one activity that is almost tailor-made to work. And it is a simple one indeed: walking (the very thing that Holmes was doing when he had his insight in “The Lion’s Mane”). Walks have been shown repeatedly to stimulate creative thought and problem solving, especially if these walks take place in natural surroundings, like the

The Sharpe ratio is actually a special case of the information ratio, suitable when we have a dollar-neutral strategy, so that the benchmark to use is always the risk-free rate. In practice, most traders use the Sharpe ratio even when they are trading a directional (long or short only) strategy, simply because it facilitates comparison across

What are known market effects? Here’s a list:

Momentum - The tendency of assets that have performed well (poorly) in the recent past to continue performing well (poorly) in the near future

Trend - The tendency of asset prices to move in persistent directions over extended periods

Value - The tendency of relatively cheap assets to outperform relatively

That’s all a potential insight really is: the recognition of some potential split and the opportunity to move closer to the utopian end of the spectrum. A potential insight expresses the distance between those two universes and, once validated, allows us to start understanding the gap and how to design interventions that bridge it.