Michel Pireu Columnist

Berkshire Hathaway vice-chairman Charlie Munger advises students to cultivate multidisciplinary thinking. "I went through life practising the multidisciplinary approach," he tells them, "and that made it more fun, more constructive, and it made me enormously rich." Getting enormously rich while having more fun doing something different is the sort of advice one can relate to, so last week I stopped watching Bloomberg and began watching reruns of old television series to see if they held any lessons for the retail investor, starting with Star Trek. After all, who wouldn’t want to be more like Spock when it comes to investing: logical to a fault, never losing his cool and thus able to make unemotional decisions in the face of great stress. "But while the creature we study in traditional economics is similar to Spock, who found humans to be odd creatures with peculiar weaknesses," says Richard Thaler, "the world is full of people that are more like Homer Simpson — a little chubby, with...

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