Sunder’s List: Luck by Chance

Roundup: S&P -0.36%, Dow -0.41%, Nasdaq -0.26%, Gold $1246.70, London -0.25%, Germany +0.10%, France -0.09%. At pixel: Nikkei +1.64%, Hang Seng -0.49%

Note the reversal of fund-flows before and after the “no-taper” decision (FT):

A huge chunk of the time we spend online is spent consuming stuff that we don’t pay for. Economically, this makes for an odd situation: digital goods and services are everywhere you look, but their impact is hard to see in economic statistics. (NewYorker)

No budget for booze: India’s liquor companies have seen growth slide for three years in a row because of increasing prices and slowing economic expansion. Last year, rising prices and regulatory changes in key states resulted in a surprise drop in the demand for vodka, once the fastest growing liquor in India, with drinkers moving to cheaper alcohol such as brandy. (LiveMint)

Ajay Shah on the Bangalore ATM attack: When a policeman says that the police cannot deliver safety, I would suggest that the policeman should resign. If you can’t deliver safety, don’t be in the police. (AS)

Michael Wheeler on the luck factor in great decisions: Once we acknowledge how much depends on luck, we do two things differently. First, we study decision making differently, no longer assigning brilliance to every decision that, viewed retrospectively, worked out well. Second, we might focus on different skills as important to important decision points, such as the flexibility to capitalize on changes in luck versus the ability to predict in advance how things will play out. (HBR)

Good luck!

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