On Randomness

It is human nature to attach meaning to randomness. So, it is often believed that someone who has had several years of investment success, for example, is more skillful than others with less success. However, it is quite likely that it is instead a lucky streak. There is an excellent…

More on South Australian Electric Madness

I wrote last month on the insanity of South Australian politics. Clean, efficient coal-fired power stations were shut down to be replaced by subsidised wind mills. It didn’t work, so the state imported electricity from the neighboring state of Victoria, electricity generated by burning coal. They then engaged Elon Musk…

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