Assorted links

1. "Realization utility," by me, for Money magazine.

2. Pick two.

3. The Baseline Scenario, a new web site.

4. Markets in everything: chav-free holidays?

5. Against Candyland.

Comments

On the chav-free holidays bit, I love the handwringing in the UK that accompanies anything class-related.

Compare that to our egalitarian, Brave New World-ish society where everyone now happily detests classes other than their own. Except the upper income left, I suppose, who enjoys getting outraged on the behalf of others; but even that's treated as just something inherent to the NPR class and nothing to get worked up over...

Candyland teaches kids how to stack a deck, much easier to do and to get away with than manipulating dice.

I'd pay extra for a holiday free of chavs. Hell, I have paid extra to go to beach resorts where I was less likely to encounter drunken, foul-mouthed anti-social boors.

Idiocracy may have been a prescient movie, but I have no wish to live it, yet.

Tyler, did you intend to put a great deal of emphasis on the spouse in your article?

In the Money Magazine piece, Tyler writes: "Even buy-and-hold investors sometimes need to admit they shouldn't have bought the darned shares in the first place." Fair enough; and if you bought it at $10/share and it's now worth $1, you'd have to be brain-dead not to "admit" this. But that doesn't mean you should *sell* your shares. For the buy-and-hold investor, no stock "looks [especially] likely to fall further." He takes the same view of all stocks, and so will (rightly, in my view) ignore this advice: "you should push yourself to look at [your dogs] more critically than you normally would." Of course, he won't sell his winners (if any), either.

And why wouldn't one's spouse berate him for *unrealized* losses?

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