Indian value investor and adjunct professor at MDI Gurgaon, where he taught Behavioral Finance and Business Valuation; writes the Fundoo Professor blog.
In his excellent book “Deep Simplicity,” John Gribbin describes the Red Queen Effect in terms of an imaginary species of frog that feeds on an imaginary species of fly.
Bakshi explains the Red Queen Effect and where he takes the illustration from.
In her excellent book, “Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger,” the author, Janet Lowe, relates the 1967 story:
Bakshi introduces the Blue Chip Stamps float story in part two of his series on insurance float.
The above village story was adapted from John Paulos’ excellent book, Once Upon a Number and was repeated in his, other, also excellent, book, A Mathematician Plays the Stock Market.
Bakshi’s closing note crediting the village parable he used to explain market crashes.
The above village story was adapted from John Paulos’ excellent book, Once Upon a Number and was repeated in his, other, also excellent, book, A Mathematician Plays the Stock Market.
Same closing note; Bakshi calls Paulos’s second book also excellent.
Let me end, though, by quoting Michael Aronstein, who, in the excellent book, Five Eminent Contrarians, pretty much agreed with my own views on the subject, by saying:
The closing of Bakshi’s post on valuation paradoxes and financial engineering.
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