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Thursday, 24 February 2011

Hanging Ten With The Momentum Surfers

I've not read "The Big Mo" yet, but I've put it on my list following a review I read in the FT. It's said to preach the evils of “herd behaviour whereby people blindly and irrationally follow those around them and work themselves up to a frenzied panic” or "momentum surfing".

I hope I have to eat my words, but I'm not expecting much more than some insight into exactly why it is that the leaders of our institutions don't get this, rather than how they might be induced to think critically and take a contrarian view when the evidence suggests that's appropriate.

The author, Mark Roeder, may have some direct experience of the former problems, having been "head of global advertising" at ill-fated UBS between 2004 and 2009. But for a real guide to the value of critical thought and adopting a contrarian stance "The Big Short" and "Fooling Some of the People All of the Time" will take some beating.
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