I know not everyone visiting this journal will care about the attached excerpt but I found it fascinating, maybe because it reinforced my own thinking!
About a year ago I started receiving an unsolicited eletter from an investment manager, John Mauldin. I’d never heard of him, and usually when I get unsolicited stuff from investment people (who are mostly looking for business from me for my clients) I look at it once and then hit the delete button after that.
However Mauldin periodically has some good stuff in his email – about six weeks ago he did a good job on what is and what is not important about the yield curve inversion – so I usually look at it. (And he never has a sales pitch! No "I can make your clients 20% a year", blah, blah, blah)
Anyway last week he had a short piece about a neuro-physiology study at Emory University of people who were either devote Democrats or Republicans. Basically how they will re-arrange reality to fit their mindset. And the fact that we all do that in our lives, to a greater or lesser extent.
I cut and pasted the piece out of his email and If you wish to read it – it take’s about three minutes – just click below.