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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Are Your Pots Past Their Prime?

Category : Stocks

MISSION, KS–(Marketwired – Apr 18, 2013) – (Family Features) Mealtime can be a daily challenge no matter the size of your household. Part of that challenge can be having the right cookware. More than simply tools in the kitchen, cookware is a way to enjoy the process of cooking and bring family and friends together. The notion of upgrading your cookware may be far from mind, but having the right pot or pan will keep family and friends coming back for more.

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Humans are very stupid – but we’re smart enough to know it | Henry Porter

Category : Business

Neuroscience shows we’re hard-wired for stupidity. Happily, we can change habits, and must do so if we are to survive

We are getting smarter, aren’t we? Or perhaps not. In a speech at the London Library, the novelist Sebastian Faulks expressed dismay at the collapse of knowledge in young people; and in my own life I don’t see much evidence of the improvement. Each morning starts with my dropping an egg into boiling water and neglecting to note the time, so I end up with a hard boiled or runny egg. The kettle steams up my glasses, if I have remembered to bring them down to read the newspapers. The toast burns two out of seven mornings and the fire alarm goes off maybe once a week. Instead of reading the article that is useful to me, my mind wanders off on one of its pointless excursions.

I am prisoner of idiotic and clumsy habits, the worst of which is the faith, renewed with each night’s sleep, that I can time the egg by instinct. My life is full of ludicrous self-confidence; for example, that this article will take one hour, rather than four, to write; that the fuel in my petrol tank will expand according to my need; that butter will not make me fat and that trains and planes are flexible in their departure times.

This is fine because I am not running a government or a bank. But look at the collapse of HBOS, and you will realise that the same stupid habits and hopeless optimism filled the heads of Lord Stevenson, former chairman of the bank, James Crosby, its megalomaniac former chief executive and his successor Andy Hornby. They weren’t merely rash and greedy; they were stupid, because they ignored one of their own experts, Paul Moore, who warned about the risks that led to a bailout of £20bn and their own richly deserved humiliation.

An organisation that succumbs to this kind of failure suffers from “functional stupidity”, a syndrome that requires such individuals as Mr Moore, who was fired from his job and eventually testified about HBOS to parliament, to stifle their criticisms and go along with the groupthink of powerful individuals. The same functional stupidity gripped the Blair and Bush governments as they went to war with a country that was not conceivably involved in the 9/11 attacks, and the groups of climate-change deniers who, for self-serving reasons or personality-driven prejudice, determine that all the evidence of a warming planet is cooked up by fantasists.

We are dumb beyond words in making the connection between our behaviour and well-understood outcomes – the links between smoking and cancer, fatty foods and obesity, driving fast and death on the roads, impulse buying and going broke, gossipy tweets and losing friends and esteem. We know the likely results but we are convinced we can defy norms with impunity, while denying ourselves nothing but the truth.

The literature on our stupidity seems to expand by the day. Every book on neuroscience and the choices we make seems to underline the reality that we are not in control, that “the two biological bags of fluid” as David Eagleman describes our brain in his book Incognito, are hard-wired for stupidity, or at least the triumph of emotional over rational systems.

Jonathan Haidt’s book The Righteous Mind, an exploration of the psychological reasons for political and religious divisions, denies the existence of the effective force for good and sensible outcomes that we call reason. “Anyone who values truth,” he writes, “should stop worshipping reason” in the social context, because it evolved not to help us find the truth of a matter, but to aid “argument, persuasion and manipulation”.

The scientific thinking does force us to come to terms with the limitations of the two sacks of fluid. Research by the Nobel laureate Daniel Kahneman in Thinking, Fast and Slow shows that we are given to all sorts of short cuts that lead us to the wrong conclusion. He divides the mind, like many others before him, into two systems – one that operates automatically and quickly, with little effort and no voluntary control; the other that allocates attention to mental tasks and requires a high degree of effort. System one frequently suggests solutions that are not always right, but have a ring of truth about them. Greater knowledge of the way we think is a good thing, yet the reductionism seems to ignore the dazzling chambers of the human mind, which produced the first art in Europe 30,000 years ago, the Antikythera mechanism, the world’s first computer, 2,100 years ago and today performs extraordinary feats of reasoning about the nature of the subatomic world and space-time.

The human brain is one of the most awesome objects in the known universe and the evidence, despite everything, is that we are getting smarter. For a start, the number of highly intelligent people alive is far greater than at any time in human history. If we take population growth since the second world war, we can assume that number of gifted individuals has risen proportionately, from roughly 2 million to 6 million – which, incidentally, happens to be the estimated total human population of the world at the end of the last ice age. We live in a more complicated world, which undoubtedly requires the brain to make more connections at greater speed. And potentially we have unlimited access to the sum of the world’s knowledge at our fingertips.

The last doesn’t necessarily make us brighter, but nor does it make us dimmer. Faulks’s speech suggested that our children’s generation would “capture” and remember far less than ours and that this was a kind of catastrophe for civilisation. I don’t know what evidence my old schoolfriend has, but it seems obvious that the function of memory is being partly outsourced to the internet – what’s the problem with that? – and that the web generation is going to make great leaps of understanding because of the new connectedness of human imagination and endeavour. They are operating in interestingly new ways.

Research suggests global average IQ is rising, but how do we reconcile that with our persistent stupidity, unnecessary wars, damaging inequality and denial of probable catastrophe? What hope is there for humanity if the lazy, self-serving, toast-burning creature of system one cannot change?

The answer, surprisingly, comes from Tony Blair who said when he was being recommended an employee because of their high intelligence, “But does he have good judgment?” After shouting “And well he might”, it’s worth noting that for intelligence to exist, stupidity must be vanquished. That requires judgment, the presence of the other voice in the boardroom or in your head that identifies dumb solutions and customary stupidity. And the good news is that habit can be taught. It will have to be if we are to survive.

Book Early for the Best Holiday Deals

Category : World News

HEMEL HEMPSTEAD, UNITED KINGDOM–(Marketwire – Jan. 25, 2013) - Booking early definitely pays off. Haven holidays have reported that in 2012 12% more guests booked their holiday before 31 January to take advantage of early booking offers. On average they paid £130 per week less than those customers who left it until a few weeks before they went – but for peace of mind Haven also offer a price guarantee. So if you book early you are guaranteed the best deal.

Follow this link: Book Early for the Best Holiday Deals

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IBM up 5%, near all-time high

Category : Business

Big Blue soars after reporting solid earnings. IBM may be the most boring and predictable tech company. But investors don’t seem to mind.

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Paul Tucker hopes luck holds for Bank of England run-in

Category : Business

The deputy governor is favourite to succeed Mervyn King in the top job, so another parliamentary appearance needs to go well

Paul Tucker, deputy governor of the Bank of England, is odds-on favourite to get a promotion – and that’s despite the Financial Times backing him to succeed Sir Mervyn King as boss.

The Pink ‘Un did the same favour for Neil Kinnock just before the 1992 election, but despite what counts as a

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The Wisdom of Psychopaths by Kevin Dutton – review

Category : Business

A convincing study shows that business leaders and serial killers share a mindset

Do you think like a psychopath? It has been claimed that one quick way of telling is to read the following story and see what answer to its final question first pops into your head:

While attending her mother’s funeral, a woman meets a man she’s never seen before. She quickly believes him to be her soulmate and falls head over heels. But she forgets to ask for his number, and when the wake is over, try as she might, she can’t track him down. A few days later she murders her sister. Why?

If the first answer that springs to your mind is some variation of jealousy and revenge – she discovers her sister has been seeing the man behind her back – then you are in the clear. But if your first response to this puzzle is “because she was hoping the man would turn up to her sister’s funeral as well”, then by some accounts you have the qualities that might qualify you to be a cold-blooded killer – or a captain of industry, a nerveless surgeon, a recruit for the SAS – or which may well make you a commission-rich salesman, a winning barrister, a charismatic clergyman or a red-top journalist. The little parable purports to reveal those qualities – an absence of emotion in decision making, a cold focus on outcomes, an extremely ruthless and egocentric logic – which tend to show up in disproportionate degrees in all those individuals.

There is a problem though. When Kevin Dutton, the author of this compulsive quest into the psychopathic mind, tried the question on some real psychopaths, not one of them came up with the “second funeral” motive. As one commented: “I might be nuts but I’m not stupid.”

The admirable quality of this book is Dutton’s refusal to accept easy answers in one of the more sensational fields of popular psychology. He comes at the challenge of deconstructing the advantages and dangers of psychopathic behaviour with two distinct motivations. First, the academic rigour of a research fellow at Magdalen College, Oxford. Second, with the more human need to understand the character of his late father, a market trader in the East End, a man with an “uncanny knack of getting exactly what he wanted”, who could sell anything to anybody, because to him “there were no such things as clouds, only silver linings”. Psychopaths, we learn, are the ultimate optimists; they always think things will work in their favour.

Dutton’s curiosity takes him from boardrooms and law courts to neurological labs. He tries in different ways to get inside the heads of those individuals for whom killing has been a way of life – from Bravo Two Zero‘s Andy McNab to the video game-obsessed inmates of Broadmoor’s secure wards. In his effort to get to their truths he has a tendency to write with the one-tone-fits-all breeziness of the excited enthusiast; at certain points his insistent chattiness jars. Though he demonstrates few of the characteristics of psychopaths himself, none of the limited range of cold fury of Viking “berserkers” or the wilful icy detachment of brain surgeons, he is in thrall to their possibilities. Perhaps, he argues, we all are.

Dutton’s book at any rate supports the idea that to thrive a society needs its share of psychopaths – about 10%. It not only shows the value of the emotionally detached mind in bomb disposal but also the uses of the psychopath’s ability to intuit anxiety as demonstrated by, for example, customs officials. Along the way his analysis tends to reinforce the idea that the chemistry of megalomania which characterises the psychopathic criminal mind is a close cousin to the set of traits often best rewarded by capitalism. Dutton draws on a 2005 study that compared the profiles of business leaders with those of hospitalised criminals to reveal that a number of psychopathic attributes were arguably more common in the boardroom than the padded cell: notably superficial charm, egocentricity, independence and restricted focus. The key difference was that the MBAs and CEOs were encouraged to exhibit these qualities in social rather than antisocial contexts.

As Dutton details this relationship, part of you is left wondering if the judge who recently praised a housebreaker for his courage and resourcefulness, and expressed the hope that in the future he might use his energies in more constructive directions, might have had Dutton’s book by his bedside. Certainly you are left wondering if corporations that really want to find driven leaders might be as well to conduct their recruitment round in the juvenile courts as the universities. In this sense it is hard to know which is more chilling: the scene in which Dutton weighs a serial killer’s brain in his hands and reveals it to be in no way tangibly different from yours or mine, or the research that shows the ability of American college students to empathise with others has, in the past 30 years, reduced by 40%…

MIND CTI Reports Cash Flow From Operating Activities of $1.6 Million for the Second Quarter of 2012

Category : Stocks, World News

YOQNEAM, ISRAEL–(Marketwire – Aug 1, 2012) – MIND C.T.I. LTD. (NASDAQ: MNDO), a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (enterprise call accounting) solutions, today announced results for its second quarter ended June 30, 2012.

Follow this link: MIND CTI Reports Cash Flow From Operating Activities of $1.6 Million for the Second Quarter of 2012

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BioRelief.com Is a Winner of Today’s Caregiver Magazine’s 2012 Caregiver Friendly(R) Award

Category : Stocks

FORT LAUDERDALE, FL–(Marketwire – Jun 21, 2012) – Today’s Caregiver, the first national magazine for all family and professional caregivers, and caregiver.com announce the 2012 Caregiver Friendly® Award recipients. The Caregiver Friendly® Awards are designed to celebrate products, services, books and media created with the needs of caregivers in mind.

Read more: BioRelief.com Is a Winner of Today’s Caregiver Magazine’s 2012 Caregiver Friendly(R) Award

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5 Earnings Short-Squeeze Trades

Category : Business

WINDERMERE, Fla. (Stockpickr) — Short-sellers hate being caught short a stock that reports a blowout quarter. When this happens, we often see a tradable short-squeeze develop as the bears rush to cover their positions to avoid big losses. Even the best short-sellers know that it’s never a great idea to stay short once a bullish earnings report sparks a big short-covering rally.

This is why I scan the market for heavily shorted stocks that are about to report earnings. You only need to find a few of these stocks in a year to help enhance your portfolio returns — the gains become so outsized in such a short timeframe that your profits add up quickly.

That said, let’s not forget that stocks are heavily shorted for a reason, so you have to use trading discipline and sound money management when playing earnings short-squeeze candidates. It’s important that you don’t go betting the farm on these plays and that you manage your risk accordingly. Sometimes the best play is to wait for the stock to break out following the report before you jump in to profit off a short squeeze. This way, you’re letting the trend emerge after the market has digested all of the news. >>Also see: 5 Huge Stocks Breaking Out This Week …

Click to view a price quote on GIII.

Click to research the Consumer Non-Durables industry.

Continued here: 5 Earnings Short-Squeeze Trades

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Though Apple (AAPL) continues to heavily promote Siri – it just hired John Malkovich to do some ads – the voice assistant service, which is powered by Nuance’s (NUAN) voice recognition technology, remains a lightning rod for criticism. Disgruntled…

Category : World News

Though Apple (AAPL) continues to heavily promote Siri – it just hired John Malkovich to do some ads – the voice assistant service, which is powered by Nuance’s (NUAN) voice recognition technology, remains a lightning rod for criticism. Disgruntled user Jon Friedman calls Siri a “gimmick for self-indulgent people with a tremendous amount of time on their hands.” “Steve would have lost his mind over Siri,” a former Apple employee recently told Adam Lashinsky. 7 comments!

Read more: Though Apple (AAPL) continues to heavily promote Siri – it just hired John Malkovich to do some ads – the voice assistant service, which is powered by Nuance’s (NUAN) voice recognition technology, remains a lightning rod for criticism. Disgruntled…

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