Saturday, March 20, 2010

About the $100 Bill Auction

OK so I'm going through Games People Play: Game Theory in Life, Business, and Beyond, and it mentions a game involving hundreds of (allegedly elite) Wall Streeter groups that resulted disastrously. Yeah, I'm talking about the $100 Bill Auction.

Basic rules: Everyone bids for the $100 bill, and the highest bidder pays the bid, and gets the bill. The catch: the 2nd highest bidder must pay the bid, and get nothing.

The average winning bid: $400 (where the top bidder loses $300, and 2nd top bidder $395~)

Attempting to "win", these "titans of Wall Street" ended up taking huge losses. As a corollary, why are these people managing other people's money? Who the heck's managing your KiwiSaver account (New Zealand version of 401k)? The level of incompetence is scary within the industry.

Monday, March 8, 2010

MA in Marketing horror story

The world has changed. You really need to consider where skill demands are while making education related choices. Apparently, a Masters in Marketing isn't enough for this person.

This is from CNN Money

I graduated with my M.A. in marketing July 2007 in London... I moved back to the U.S. in June 2008 and spent a few months coming to terms with moving back in with my parents -- since then I've applied for 759 jobs, have heard back from 23, and interviewed with two...

So much for the "recovery" rhetoric. People need JOBS!

(Steve Jobs)

Friday, March 5, 2010

"ANZ subsidiary linked to Cambodian army" WHAT???

Yeah, ABC News mentioned it!

Cambodian prime minister Hun Sen announced the initiative last week and said more than 40 partnerships had been established to provide food...

Another on the list was ANZ Royal, a joint partnership between Australia's ANZ Bank and one of Cambodia's biggest business conglomerates, The Royal Group...

'The charity hasn't just been supported today, it's been years already. It's just that they have been assigned it so that the people understand who they help.'

What is this, the twilight zone?!