Managed fund fees have come under the spotlight since several academic studies showed that actively managed funds consistently underperform passive index funds. This is simply because all that work in trying to pick winners costs more than it's worth.
Here is a free managed fund fee calculator that you can use to compare the total fees for the lifetime of your investment. Over time, and with large investments the numbers add up quickly.
The great thing about this calculator is that it includes the effects of compounding fund growth and reinvested distributions both of which increase the fund management fee over time. The calculator makes two calculations: first your theoretical gross return with absolutely no fees, then your actual return with all the fees factored in. The difference is how much you lose in fees, inluding the opportunity cost of not investing that money.
I started some time ago using memory palaces to remember the music that I learn. It was great, I could think of a song, go to the memory palace for that song and have it all mapped out for me ready to perform. But soon I found I had a new problem - how to remember what songs I know? Or more generally - how do you remember what you can remember?
Well, as you might have guessed, you can use a memory palace for that too. You just need to connect each location in the new palace to your other ones. You can embed your memory palaces in this way ad finitum so you effectively have one infinite memory palace.
To embed a memory palace I found the easiest way was to add a 'descent' option at each location so that when I visit a location I can choose to pass over to the next location or descend into the embedded memory palace. Other people using similar techniques have used portals or doorways for the same thing, however I found that associating a definite direction (down) made it easier to remember and also easier to go backwards (up).
The descent path needs to be mnemonically linked to the destination memory palace or you will forget where it goes. For example, my memory palace for 'Comptine de un Autre Ete' from Amelie is along the Siene river in Paris. To get there I descend through a letterbox full of letters from Paris. Sounds ridiculous, but it works. Plus I just need to look at that letterbox and I feel like I'm in France.
It's also kind of fun traversing your memory palace like this.
Although I can read music, I hate it. It's slow, uncomfortable, distracting and entirely unnecessary. Music is already quite memorable and only requires a few hacks to get into your long-term memory. Here is the process which I use that has evolved over the past few years.
I hope you find it useful.
1. Find the MOTIVE behind the music.
Your goal here is to determine the reason WHY the artist wrote the piece. Throw out the sheet music and listen to a recording of the piece. Ask yourself the following questions.
It can also be very useful to do some background research about the piece and the artist. What was happening in his or her life when he wrote the piece?
2. Identify the FORM of the music.
Again, just listen to the piece over and over. The most important goal of this step is to identify the tonic and mode (major, minor, blues, lydian etc) of the piece. You will also recognise the genre and structure which are key parts of the music's form.
Once upon a time eggs and sperm where the same size. Or more correctly, once upon a time there were no eggs and no sperm. Just gametes. Equal in size and equal in cost these gametes could reproduce with each other in a happy and fair trade.
Then one day an individual chanced upon a mutation that would change the world forever. His small, undersized gametes gave him a reproductive advantage, allowing him to have more offspring at a lower cost. He was the first male.
His family flourished with the advantage of cheap sex and further mutations drove his gametes smaller and smaller - until one day something unexpected happened: His family could no longer reproduce successfully. Their gametes were too small to create viable offspring.
Meanwhile, on the other side of the pond lived another individual who acquired a mutation that led to large gametes. Costly and burdensome her large gametes were a reproductive disadvantage. Her family was small and struggling. She was the first female.
Recently I've taken up mnemotechnics which I've been using for music and lucid dreaming. One useful mnemonic tools is called PAO or Person-Action-Object. This tool encodes numbers into memorable unique scenarios. For example I have mapped the number 6 to 'Jesus walking on water'. You can then recombine these sequences the encode longer numbers.
If you don't know exactly how PAO works you probably want to read the Art Of Memory wiki first.
Yan from mentathlete.com generously posted a list of 10,000 famous people to use for your PAO system. I've forked his list and resorted it by <First Initial, Last Initial> to make it easier to find people for two digit numbers. I'm planning on updating and maintaining this list and will keep this page updated with the latest version.
If you have any additions you'd like to suggest please feel free to post them in the comments below.
I'm doing Yale's "Financial Markets" course on Coursera at the moment and for one of the assignments we had to review a paper by Eugene Fama defending his theory of efficient markets. It was kind of interesting, so I wanted to post my summary here for you guys...
In "Market efficiency, long-term returns, and behavioral finance", Eugene Fama reports that anomalies which appear to contradict the Efficient Market Hypothesis are in fact predicted by the hypothesis itself. The hypothesis is therefore not falsified by the observation of these anomalies.
Fama discusses several patterns that have been published and seem to reflect an inefficient market:
I had been running up and down a flight of 500 stairs for half an hour listening to music on my phone. As a result, my shirt was drenched in sweat and clung to my chest as I jogged along the wharf on my way home.
When I first saw her she took my breath away. She was walking towards me, alone, dressed beautifully and ... well I've never seen breasts quite like that before. I didn't look at her directly as we got closer, but I could see her eyes shift from my face to my body and a shy smile forming on her face.
She was checking me out.
Possibly the most beautiful woman I have ever seen was checking me out.
So I ran straight past.
My brain was screaming at me to stop.
But I didn't.
The next evening I went back to the place I had seen her and waited. Just maybe it was her regular route home. There was no sign of her. She was gone.
This song makes more sense the more you play it. The images just melt into each other...
And my transcription of the exercises (G3=1) with the images I use to remember the music.
This is how I write down music so I can read it from my phone or notepad or scrap of paper or whatever. I really really don't like traditional notation because it uses absolute pitches which makes everything very complicated.
Okay, so here are the basics:
I've started learning the violin. It's something I always told myself I'd do 'later' (which is a pretty bad way to learn something new). So yeh... I just went to the shop, bought the stupid thing and started.
I found a good set of violin tutorials by Alison Sparrow on YouTube and have written down the first set of drills for you from tutorial 5 (I just prefer my notation to sheet music). There are six exercises and I use an image to remember each one as you'll see below. Firstly, here is the original tutorial: