I saw the supply chain disruptions coming and made final preparations for it, I saw layoffs coming in my aviation-related job so I updated my resume, took a good severance package, and found a new, remote-based job with significantly higher pay. And yes, I also significantly re-balanced my portfolio and took advantage of the crash early this year. In all, I expect about 40% additional income/unrealized gains this year than last. To me that’s more than minimal.
Rationalists that were paying attention get the 1st chance of understanding the implications and making moves (big or small) before a mass of people finally took it seriously in the US. I’ll admit part of it is certainly luck since I can’t really time the market or precisely know how gov’t policies and actions will affect my stocks.
It’s also hard to know how much of that on my part was explicit reason, I was certainly reading up on the literature about it, but there was not a ton of data. I did use some social cognition based on the Chinese response under the presumption that they knew more about it since it originated there.
I don’t think the COVID response is even the best measure to judge the benefits of being rational, it’s just one part of it. If you want to solve problems, you have to be rational… being irrational is a bad way to solve problems.
I saw the supply chain disruptions coming and made final preparations for it, I saw layoffs coming in my aviation-related job so I updated my resume, took a good severance package, and found a new, remote-based job with significantly higher pay. And yes, I also significantly re-balanced my portfolio and took advantage of the crash early this year. In all, I expect about 40% additional income/unrealized gains this year than last. To me that’s more than minimal.
Rationalists that were paying attention get the 1st chance of understanding the implications and making moves (big or small) before a mass of people finally took it seriously in the US. I’ll admit part of it is certainly luck since I can’t really time the market or precisely know how gov’t policies and actions will affect my stocks.
It’s also hard to know how much of that on my part was explicit reason, I was certainly reading up on the literature about it, but there was not a ton of data. I did use some social cognition based on the Chinese response under the presumption that they knew more about it since it originated there.
I don’t think the COVID response is even the best measure to judge the benefits of being rational, it’s just one part of it. If you want to solve problems, you have to be rational… being irrational is a bad way to solve problems.