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Hi Michael,
Thanks for interviewing Eric, great discussion. I’m in the same age category so there’s a built-in affinity.
Thought I’d pass along some info regarding greed, envy, and financial markets. Eric Falkenstein wrote “Finding Alpha” some time ago (and now makes it freely available on his website as a pdf) wherein he proposes a couple of interesting things. First, risk and reward are not “linked” in the way most people think, this leads to the “low-vol anomaly.” Secondly, he puts forward the argument that people are driven by envy rather than greed, and goes on to explain several financial puzzles using this notion (including the home country bias). He stopped blogging several years ago and I have no idea what he’s up to now. I’ve seen a few of his old interviews and he’s a bit of an odd duck, but clearly very intelligent and smart. Think it would be a great interview for your podcast if you can find him.
His two books are worth a read and some of his old blog posts are also fun. Not sure why, but after forgetting about him for years I looked up his stuff again just a few days ago. Hope you enjoy it.
Thanks again,
Victor
Thanks!
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