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February 02, 2013


Tim Bassett

Ironically one of the areas where MPT is almost always mis-applied is equities. Equities are not simple financial assets being a combination of assets liability and contingency. MPT works better if applied to whole 'firms' rather than the equity tranche especially with highly leveraged vehicles such as banks.


"Why are religious people often happier than others?"

They're not. Where society is more religious, people who are excluded from the mainstream of society because of their lack of religion are less happy:



So I take it that (1) suggests that retirement is a bad idea, and that holding three jobs is better than just one? Also I understand that work-related distress is a common phenomenon. My guess is the pain comes from the social stigma.

On (2) I wonder how much is cause vs consequence. People who have reason to be unhappy may find relief in various creative outlets, and television is the default for those who have none. Same may be true for over-eating, and I wouldn't be so sure that food causes unhappiness.

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