Latest news with #DouglasAdams
Fast Company
11-07-2025
- Business
- Fast Company
What's your investment psychology?
Douglas Adams' brilliant novel The Restaurant at the End of the Universe describes Milliways, the fine dining establishment built in a time bubble and projected forward to the precise moment of the End of the Universe. Meals at such a singular restaurant are ridiculously expensive–but diners can easily pay for them. 'All you have to do is deposit one penny in a savings account in your own era, and when you arrive at the End of Time, the operation of compound interest means that the fabulous cost of your meal has been paid for,' Adams wrote. When I read this novel as an impressionable 12-year-old, the Milliways-approved investing process appealed to me. With a little bit of money and a whole lot of time, compound interest could do the work for me while I sat back and looked forward to a truly world-shattering meal. I was reminded of this recently when my spouse asked if the investment decisions we had set-and-forget several years before were maximizing our returns. Instead of jumping at the chance to ensure our finances were living up to their potential, I was annoyed at the prospect of having to make changes to a system I'd already set up. Until that moment, I thought I had a handle on my financial psychology. But apparently, I have some quirks of investment psychology that I wasn't even aware of. As do you. Here's how your investment psychology may be misdirecting your investing decisions—and what you can do to get back on track. What is investment psychology? Although we think of finance and investing as a 'rational' activity, we are likely to react emotionally to money. This is partially because of mental shortcuts known as cognitive biases. These are systematic patterns in thinking that can lead us to irrational decisions or behavior that runs counter to our goals. For example, my preference to set-and-forget my investments is partially due to a cognitive bias known as the status quo bias. This cognitive bias describes a preference for the current state of affairs to remain the same. I don't like to think of myself as a stick in the mud, and I could have given my spouse a rational-sounding reason why I don't double check that our investments are maximized. But I can see that my lack of interest in revisiting old decisions reflects something about my investing psychology: I prefer to make a decision once and stick to it. That's the specific aspect of the status quo that I don't want to change. This preference for once-and-done decision making isn't necessarily a bad thing, but it can cost me. If my spouse hadn't asked about our returns, I never would have thought to check and we could have lost years' worth of potential returns. After this experience, my spouse and I have realized that he needs to occasionally nudge me to check back on old investing decisions. That will help me avoid the complacency of my status quo bias. Common investment psychology biases There are a number of cognitive biases that may be keeping your investments from growing. Which of these biases sound like you? Action bias The action bias could be seen as the opposite of the status quo bias. If you have this cognitive quirk, you will feel the need to do something– anything! –rather than nothing. If your portfolio drops in value, your action bias might lead you to sell in order to avoid a larger loss. Unfortunately, taking action at that time is often the worst option, since most losses are temporary, and selling makes the loss permanent. To avoid the action bias, commit to waiting 24 to 48 hours before taking any action with your portfolio. This will give the market some time to recover from momentary dips, and will not make a significant difference if action is called for. Additionally, find a trusted adviser or friend who can help you determine when action or inaction is appropriate. This can help keep you from developing an itchy trading finger. Disposition effect This cognitive bias describes the phenomenon where investors tend to sell a winning investment too soon while holding onto a tanking investment for too long. When you are experiencing the disposition effect, which combines a fear of losing out (in case the tanking investment suddenly goes gangbusters) plus a fear of regret (in case the winning investment takes a dive), you are trying to hedge your losses in both directions. But evidence has shown that selling the losing investment and holding onto the winning investment is the smarter strategy. The disposition effect is making an emotional decision to hedge loss, rather than a rational choice to try to maximize your returns. Researchers have found the best way to avoid the disposition effect is to implement long-term investment goals. Investors with a clear financial target not only successfully avoid the disposition effect, but they exhibit a reversal of the effect, selling the losing investments and keeping the winners. Familiarity bias Also known as the mere exposure effect, this cognitive bias leads investors to overinvest in assets they are familiar with. Specifically, American investors are more likely to put their money in domestic stocks, bonds, and funds, rather than getting international exposure in their portfolio. The familiarity bias can go even further, with investors buying shares of companies they recognize, or even the company that employs them. (You might remember that Lehman Brothers' employees owned 30% of the company's shares at the time of the bank's collapse.) But just because an investor is familiar with an asset doesn't make it the right investment for their portfolio. Diversification is typically the best way of combatting the familiarity bias. This may require the help of a financial adviser if you don't feel comfortable picking diverse international investments or other assets outside of your sphere of exposure. Don't panic: a rational guide to investing Humans aren't great at making rational investment decisions, but we're very good at lying to ourselves about that fact. To improve your investment choices—not to mention your returns—start by recognizing the ways in which your investing psychology may be leading you astray. Perhaps, like me, you suffer from the status quo bias, and prefer to avoid revisiting any decisions you've already made. Or you might experience the opposite quirk, the action bias, which tells you to do something! anytime there is the slightest movement in your portfolio. You may fall victim to the disposition effect, where you hold onto a stinker and sell a winner, despite it being a losing strategy. Or you might just stick with the familiar companies, asset classes, and investments you know, rather than diversifying your portfolio. Here's the good news: once you know your brain is taking these shortcuts, you're better prepared to avoid them. As for me, I'm still keeping my Milliways savings account open. I've got the time.
The Independent
08-07-2025
- Entertainment
- The Independent
Enjoy audiobooks all summer long with 3 months free Audible this Prime Day
A good book can offer escapism like nothing else. Be it a fantasy adventure, a cosy romance or a gripping thriller, there's stories out there that can stay with you for a lifetime. But sometimes, life can get in the way and finding the time to read can be easier said than done. This is where an audiobook can be the booklovers saviour. Audiobooks can be enjoyed handsfree, wherever you are, whatever you're doing. As well as keeping your Goodreads backlog in check, an audiobook can bring a book to life, immersing you in the story in ways that just reading the pages can't match. You can power through your forty-two household chores as you listen to Douglas Adam's Hitchikers Guide to the Galaxy or ponder whodunnit on the drive to work with Richard Osman's Thursday Murder Club. If you're looking to get stuck into the world of audiobooks, we have a Prime Day deal you won't want to miss. Audible is offering three months free of their premium plus membership for Amazon Prime customers throughout July. Meaning you can listen to your favourite books (or discover your next) all summer long. Get 3 months free Audible now What is Audible Audible is one of the leading audiobook platforms, with a massive library spanning every genre you can think of as well as whole host of podcasts and original content. Whether you're reliving your childhood listening to Stephen Fry narrate the Harry Potter series while you do the laundry or engrossing yourself in the bestselling Onyx Storm by Rebecca Yarros while walking the dog, Audible has an audiobook for everyone. It's all accessed via their app which is packed with features made to make enjoying your favourite audiobook as effortless as turning a page, including playback speed controls, timers for when you're multitasking or getting ready to sleep and car mode which enlarges icons to make controlling your audiobook while driving easier. An Audible subscription gives you full access to a library of thousands of free to listen to audiobooks, podcasts and original content from instantly recognisable voices including, Alan Partridge, Mel Giedroyc, Jamie Dornan and more. You can also claim one free audiobook a month from their bestseller or new release lists. This is perfect for when a new book comes out that all your friends are talking about. Even better, your monthly audiobook pick is free to keep forever. Joining Audible couldn't be easier. All you need is an active Amazon Prime subscription and to be a new member to Audible. Your first three months are free, after which you can either cancel at no cost, or carry on for £8.99 a month, renewing automatically. But hurry, this deal is only available until 31 July.
Tatler Asia
03-07-2025
- Entertainment
- Tatler Asia
Reading list: what Dakota Johnson, Dua Lipa, Natalie Portman and more celebrities are reading this month
Dakota Johnson's pick: 'The Hitchhiker's Guide to the Galaxy' by Douglas Adams Dakota Johnson's TeaTime Book Club revisits this beloved science fiction classic, proving that great books deserve rediscovery. Douglas Adams's absurdist masterpiece follows Arthur Dent's intergalactic adventures after Earth's destruction, blending philosophical wit with cosmic humour. This genre-defining novel offers escapist entertainment with depth, exploring life's meaning through delightfully ridiculous scenarios. Johnson's choice reflects her appreciation for storytelling that balances intellectual curiosity with pure joy, ideal for readers looking for both laughs and contemplation. Natalie Portman's pick: 'A Different Kind of Power' by Jacinda Ardern Natalie Portman's book club selection champions this memoir from New Zealand's former Prime Minister. In A Different Kind of Power , Jacinda Ardern reflects on her extraordinary political journey, from becoming the world's youngest female head of government to navigating global crises with empathy and authenticity. This intimate account explores leadership through a feminine lens, offering powerful lessons on staying true to one's values while wielding political influence. The memoir is perfect for readers seeking inspiration from leaders who redefined what political power can look like. Don't miss: 8 celebrity book clubs for readers of various tastes Emma Roberts's pick 'Notes on Infinity' by Austin Taylor Emma Roberts's Belletrist champions this extraordinary debut novel about Harvard students Zoe and Jack, who believe they've discovered the cure for ageing. When their promising antiageing research leads them to drop out and form a biotech startup, they're thrust into a world of investors, magazine covers and national attention. But success brings devastating accusations that threaten everything they've built. The novel explores young love, scientific ambition and the recklessness of early success, asking how far one would go to achieve immortality and dreams. Reese Witherspoon's pick: 'Spectacular Things' by Beck Dorey-Stein If you're craving a sweeping family saga that will break your heart, Reese Witherspoon's pick delivers with a poignant tale of sisterhood set against the backdrop of women's football. Spectacular Things follows sisters Mia and Cricket Lowe in small-town Maine, where responsible Mia becomes a caregiver while talented Cricket pursues football stardom. The emotionally charged story dives into the impossible choices we make for family and ambition. Now read: From screen to your stove: 6 star-studded celebrity cookbooks worth trying Jenna Bush Hager's pick: 'Happy Wife' by Meredith Lavender and Kendall Shores Jenna Bush Hager recommends this thriller, which she describes as 'the perfect combination of drama, romance and mystery'. When 28-year-old Nora Davies marries prominent lawyer Will Somerset after a whirlwind romance in wealthy Winter Park, their fairy tale shatters when Will mysteriously disappears following a lavish party. With Nora as the prime suspect, this twisty whodunnit alternates between their romance and a present-day investigation filled with secrets, wealth and rich people behaving badly. Credits This article was created with the assistance of AI tools
The Guardian
31-05-2025
- General
- The Guardian
Which galaxy is on a collision course with the Milky Way? The Saturday quiz
1 Who opened a Fossil Depot in Lyme Regis in 1826?2 Which galaxy is on a collision course with the Milky Way?3 Which creatures make up a fifth of all mammal species?4 Which sci-fi writer was the first person in Europe to buy a Mac computer?5 What machine gun was named after a Czech city and London suburb?6 At 410 miles, what is the UK's longest road?7 Which band did Quincy Jones call 'the worst musicians in the world'?8 Notker the Stammerer was an early biographer of which emperor?What links: 9 Derwent, Derbyshire in 1944; Capel Celyn, Gwynedd in 1965?10 Observatory Circle resident; reclusive New Hampshire author; Tim Martin's pubs; Wardle and Makin's shops?11 Mijaín López (5); Vincent Hancock, Katie Ledecky, Carl Lewis and Michael Phelps (4)?12 Cassandra in Troy; Martha Mitchell in Washington DC?13 Annoy; computer glitch; minor illness; small insect; spying device?14 Behind the Candelabra; Green Book, Impromptu; Ray; Rocketman; Shine?15 French butterfly; German chess knight; H2O; Pulp singer; Restoration monarch? 1 Mary Anning.2 Andromeda (in about 4.5bn years).3 Bats.4 Douglas Adams (Stephen Fry was the second).5 Bren gun (Brno and Enfield).6 A1.7 The Beatles.8 Charlemagne.9 Villages 'drowned' to create reservoirs.10 JD: JD Vance; JD Salinger; JD Wetherspoon; JD Sports.11 Consecutive golds by modern Olympians in one event: Greco-Roman wrestling; skeet; 800m freestyle; long jump and 200m medley.12 Warnings/prophecies not believed: Trojan priestess in Greek myth; Watergate conspiracy.13 Various definitions of bug.14 Films about pianists: Liberace; Don Shirley; Chopin; Ray Charles; Elton John; David Helfgott.15 Types of spaniel: Papillon; Springer; Water; (Jarvis) Cocker; King Charles (II).
Geek Girl Authority
25-05-2025
- Entertainment
- Geek Girl Authority
Towel Day Archives
Categories Select Category Games GGA Columns Movies Stuff We Like The Daily Bugle TV & Streaming It's Towel Day, folks! Celebrate Douglas Adams, his genius, and The Hitchhiker's Guide to the Galaxy by bringing/wearing a white towel with you everywhere you go today. Why? We explain it here.
