Some of the most fascinating topics covered this week are: Health (Why have many of our recent viruses come from bats?), Lifestyle (David Sinclair on how we can stop aging), Society (8 life lessons learned from best writers), Technology (Employers are adding high-tech solutions to solve sleep problems), Environment (One war that humans can't lose) and Book Review (Deep-dive into Media, Gender and the Neo-liberal Indian State)
At Ambit, we spend a lot of time reading articles that cover a wide gamut of topics, ranging from zeitgeist to futuristic, and encapsulate them in our weekly ‘Ten Interesting Things’ product. Some of the most fascinating topics covered this week are: Health (Why have many of our recent viruses come from bats?), Lifestyle (David Sinclair on how we can stop aging), Society (8 life lessons learned from best writers), Technology (Employers are adding high-tech solutions to solve sleep problems), Environment (One war that humans can’t lose) and Book Review (Deep-dive into Media, Gender and the Neo-liberal Indian State).
Here are the ten most interesting pieces that we read this week, ended February 28, 2020:
1) The pitfalls of early success – a personal history [Source: rationalwalk.com]
Everyone today wants to be successful. No matter what they try to pursue. And that’s not different for the people in the stock market. The investing profession tends to attract individuals who have a healthy sense of self-esteem. After all, anyone who actively invests is essentially saying that their views regarding investments are superior to the collective wisdom of the rest of the market. Many won’t believe, but random luck plays a major role in one’s life experiences and prospects for overall success. As Warren Buffett often says, he won the “ovarian lottery” by being born into a successful and prominent family in the United States in 1930. His unusual numeracy at a young age served him extremely well whereas it would have been of limited value had he been born into a small hunting and gathering tribe in Africa in 3000 BC.
Similarly, Howard Marks, in his book Mastering the Market Cycle, makes many such observations. But the most important and intriguing point pertain to the role of human nature and emotion. We always need to remember that when we make the decision to buy or sell an investment, we are making an affirmative statement that we know more than the market and that even though the market often seems “crazy”, it is made up of thousands of investors just like us who are trying to achieve the same objective – outperformance. We must always be thinking about what makes our views better than the market consensus – in other words, what is our edge?
Clearly, the timing of one’s career plays a big role in the type of opportunities available. However, the experiences of a particular era probably have an even greater impact on how we see the world. In the context of the stock market, if we start out in a bull market, we are likely to see the world much differently than starting out in a bear market. Even the author of this piece thought that he was an investing wizard. Only to be grounded, as he underperformed the S&P 500 by nearly 21% in 2009. This experience forced him to reassess his strengths and weaknesses and to be more introspective regarding his abilities. In retrospect, his early success with a small capital base in 1999-2000 resulted in a level of overconfidence and hubris that made him think that he had the ability to time the market in 2008-09. Well, everybody thinks that way, till the market gets them to ground reality.
2) Why have so many of our recent viruses come from bats? [Source: rationaloptimist.com]
Matt Ridley, the author of this blog, says that bats are the root cause of most of the diseases that humans suffer from. We now know that the natural host and reservoir of the new coronavirus, Covid-19, is a bat, and that the virus probably got into people via a live-animal market in Wuhan. This is not the first disease bats have given us. Rabies possibly originated in bats. And so did, Ebola, Nipah, Sars, Mers, etc.
Why are bats responsible for so many recent zoonoses (posh Greek for infections acquired from other animal species)? First, bats are mammals, meaning they are sufficiently closely related to us for some of their viruses to thrive in our bodies. Second, bats have never been domesticated. On the whole, we have already caught the diseases of cows and pigs and dogs. Measles, smallpox, anthrax and tuberculosis were all gifts from our farmed animals. Third, unlike most other mammals, bats live in huge flocks — just as we do.
Fortunately, the modern world not only makes us a tempting target for new diseases, it also gives us new tools to combat them. It took years to sequence the genome of HIV, weeks to sequence the genome of Sars and days for Covid-19. Our ability to diagnose the disease is therefore rapidly catching up, and the chances are that a vaccine will soon be available, while quarantine and strict self-isolation may yet keep the virus from going global. Lastly, the author of this piece has 2 advices: 1) stop bringing wild animals into markets alive (if at all): viruses do not survive long in dead bodies, even if not refrigerated. 2) Let’s keep our distance from bats. Definitely don’t eat them.
3) David Sinclair: "Lifespan: Why We Age and Why We Don't Have To" [Source: YouTube; Talks at Google]
Everybody wants to stay young forever. If not everybody, at least most of us want to stay healthy and young. Do things that only young people can do. Go trekking, go running, look younger than our age, etc. There are many who can pay an arm and a leg to become young again. But, can we actually become or stay young for an elongated period of time?
We always thought that aging is a normal process of life and we all have to go through it. But, not as per David Sinclair, professor of genetics at Harvard Medical School. And in this talk, he discusses his new book, “Lifespan”, which distills his cutting-edge research findings on the biological processes underpinning aging. He asks and answers whether we can slow this process and reset it. He says that it’s surely possible with a few lifestyle hacks.
Mr. Sinclair talks about his recent experiment with the aging of mice. He was able to scratch the DNA of these mice and age them faster. So he says, if we can age them faster, we can also reverse this process. Also, he says that one of the ways to improve our longevity is to eat less. Mr. Sinclair himself skips meals. Exercising 10 minutes a day and skipping a few meals a week can make us live longer.
4) The fight to fix the fault in our audits [Source: Livemint]
The quality of audit in India is surely a cause of concern. The list of companies in which auditors were caught napping over the last decade alone is a long one: IL&FS, Yes Bank Ltd, Satyam Computers, Manpasand Beverages Ltd, Vakrangee Ltd, among others. Recently, the Indian ministry of corporate affairs (MCA) began its latest push in a months-long battle to fix the faults in India’s corporate audit system. It came in the form of a discussion paper that proposed sweeping new changes.
As regulators began tightening the screws, the markets could smell that something was brewing. In the first half of 2018, nearly 32 auditors quit from listed firms. And the last straw was the near-collapse of Infrastructure Leasing and Financial Services Ltd (IL&FS) in September 2018, leaving a ₹99,000 crore hole in the country’s financial system and sent the non-banking financial company sector into a tailspin.