And instantly, I think to myself: 1. Can't trust the allegation. Whistleblowers get money for revealing fraud and they might think the "juice is worth the squeeze" 2. There's an incentive for the banks to overstate the profitability of their assets
Not sure how to articulate this idea: As I age, I find myself taking large bodies of information and mentally summarizing it into very simple concepts. For example, I saw this article where a whistleblower is alleging that there is fraud in mortgages.https://www.propublica.org/article/whistleblower-wall-street-has-engaged-in-widespread-manipulation-of-mortgage-funds …
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Then I synthesize these two things together and just say to myself: "It's a wash, there's no way I can know what is happening here." And then I file this information in this general mental category that is my repository of "finance is full of bullshit" stuff.
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So yeah, tl;dr, I distill large bodies of information into simple concepts, usually focussing on incentives and delete almost all information that comes into my head as soon as it does for the purposes of focussing on the core simple driving concepts.
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I think it's worth describing this type of shit because 1. I always love learning from people wiser (who tend to be older) than I am 2. I've come to recognize that my brain works very very veyr differently from the median human and it's useful to know the differences.
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