Thursday, January 3, 2019

Get the Edge
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How not to be stupid (Link)

"Stupidity is the cost of intelligence operating in a complex environment. It’s almost inevitable. Seven factors that lead to stupidity: being outside your normal environment or changing your routines, being in the presence of a group, being in the presence of an expert or if you, yourself, are an expert,  doing any task that requires intense focus, information overload, physical or emotional stress, fatigue. All seven factors are present in U.S. hospitals. All seven factors. This will astonish you. In the United States every year, there are roughly 30,000 fatalities from automobile accidents. That is a benchmark. How many deaths accidentally occur, accidentally, in hospitals every year? In other words, you go in with a broken arm and you don’t come out. Not, you died as a result of what you went in for. You died because of error, human error. I would tell you the current best estimate—this is deaths, mind you, not injuries—is 210,000 to 440,000 people die every year in the United States from hospital error."

Canada can and should be a leader in managing the impacts of climate change (Link)  

"Canada's responsibly produced oil and natural gas can mitigate the impact of climate change globally.  The Trans Mountain pipeline, if constructed, would transport roughly 590,000 b/d of oil, produced with leading environmental and social standards, to global markets.  If Canadian standards were recognized and applied worldwide, the amount of GHG emissions from producing a barrel of oil would fall by 23%, the equivalent of removing approximately 100 million cars from the road.  By approving and constructing the Trans Mountain pipeline, Canada will be reducing global GHG emissions."

Japan's return on equity and price to book value discount vs. world