#i feel like i might have lots of incorrect opinions due to biases and the fact they were born in 2002 and 2008 but like.... i have to shove
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I’d just like to say thank you for drawing Gavin and Chris being friends. Definitely an underrated pair and I’m so happy that art of them exists. Makes my day to see them honestly.
Also, please make more because this fandom definitely needs it 💕
OH HELL YEAH that's some of my favorite stuff to draw for DBH tbh! There is something so charming about unhinged coworker dynamics... I say this as someone who has been the unhinged coworker and someone who has heard unhinged coworkers.
Thank you so much though! I'm glad you've enjoyed what I have so far! I will say that while I didn't have the energy to draw it yesterday for Halloween, the idea that I had was them just alternating who got to wear the Ghostface mask. (I have never seen any of the Scream movies but I do know that there's not a Singular Ghostface, but multiple people)
Like someone would walk past Gavin's desk and he's just on his phone not looking up while Chris is making a work call - wearing the mask. Then five minutes later Chris tosses it over saying he needs some air and Gavin wears it. But the fact it was Halloween nobody really clocks the swap at first just "wow I am REALLY tired I thought it was the other one wearing it. I must really need coffee" and then half an hour passes and they've swapped who's wearing it again.
#moe talks a lot#not art#detroit become human#sorry im drawing an oc today but i definitely absolutely have more ideas for them in the future!#i feel like they deserve the attention too bc side characters...#bro isnt even the primary antagonist to connor like imagine being disliked by fans and youre a secondary antagonist#also i think about them a lot bc of their scenes together and how casual they are around each other like when in the interrogation#gavin pushes chris forward like you handle that guy dude you got this#and how even after gavin is rude to hank it falls to chris saying alright have a nice night .... truly the balance the world needs#also chris is just flat out one of my favorite characters so 100% looking forward to learning how to draw him better#there are so many fun dynamics to explore in dbh but i may have a chris miller bias#i feel like i might have lots of incorrect opinions due to biases and the fact they were born in 2002 and 2008 but like.... i have to shove#SOME of the current trends onto them as a past thing like the capri sun comic with chris#i have lots of thoughts about the game and the characters but since i figure most people dont really want those essays#i stick to my fun lil doodle comics bc i enjoy drawing them and it keeps my blog art oriented#while slowly pushing my headcanons and agendas
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Okay, Here’s How I Feel
Originally this was gonna be a response to @sophfandoms53‘s post, but I felt it got too lengthy and didn’t want to hijack that post with what I had to say about everything going on currently, apparently. So, here’s my two cents on the drama. Okay, I’ll be honest, I haven’t seen much toxic drama so far in this community recently, due to my own dumb luck I guess, but that doesn’t mean it’s far from real, obviously. People who are suffering through this kind of crap have my serious condolences, for being given an unfair amount of flak just because they have a different perspective on characters or potential romantic relationships in this series about a big family of talking anthropomorphic ducks.
Like, I can’t preach this enough. This advice not only applies to the DuckTales fandom, but anyone’s unique takes on anything in general with anything within the entertainment media industry of films/tv.
No one’s opinions are 100% wrong or right. That’s the beauty of subjectivity toward fiction.
Not only does this apply to the Delpad shippers, but any people who have been going back and forth about Louie/Della’s chemistry being questionably handled in Season 2′s last episodes. We can debate all day until we’re blue in the God damn face, but no take is a “wrong” one here. I may strongly disagree with those who called Della mean spirited or unfair to Louie in Glomtales, trying to label it as “abuse” or “emotional isolation” when there are plenty of things in that episode, which I feel easily shoot down that argument, but I’m not gonna try to manipulate those into feeling differently about what they saw in these last several episodes. If you think Della was out of line here, fine. Preach to the heavens for all I care. It’s your own voice and I’m sure there are plenty of those out there, who feel the same as you do, too. Be proud of what you stand for, just please don’t shoot others down in the process of what you believe is “correct”.
You can use all your reasoning in the world to create, what you think is a strong perspective for yourself on something, regarding DuckTales character writing or story driven themes, but here’s the punchline.
Anyone out there trying to use words like “objectively speaking”, won’t cover up your own bias towards what you perceive as a correct or incorrect takes on this series.
This like a BIG pet peeve I have when people try to analyze stuff in their favorite shows or movies. You can try to be as unbiased or professional, as you can be with viewing stuff, but the reality of it is we each have our own biases that we can’t cover up, no matter how hard we try to. We’ve all got our own emotional experiences in life that have given us our own unique/defined perspectives on stuff. Whether you’re a professional critic trying to make a living off these said views or simply a passionate fan expressing their beliefs, you can’t hide that.
Which is completely fine, but please for the love of God don’t try to cover it up. That kind of stuff irks me beyond belief, even if people don’t intend to give off that impression with their reviews, using that phrase of objectivity and are just saying it because it’s a force of habit others have gotten, where they don’t realize the implications of what they’re actually saying that could rub others the wrong way.
It’s fine to have your own biases, but letting it blind you from others different two cents is where things need to stop. There’s healthy biases and unhealthy ones.
DuckTales strong themes of family are what brings people together in this community. Don’t let your own damn pride cloud your judgement. Lead by example, like Louie did in his Season 2 arc, by humbling yourselves when seeing a different take you might not agree with at all. If a freaking kid can do that, why can’t any of y’all, too, who are being toxic?
Here’s a strong piece of advice to cap this post off. You know what I refer to mentally a lot of the time for a mature discussion about my differing opinions with someone else? Anton Ego’s amazing speech from Ratatouille about the meaning/weight of opinions on anything in general. It’s one of the most beautiful mature scene’s I look back on fondly, as an adult in my mid-twenties to this very day, surrounding the topic of an individuals opinions and the faith put into them, too. It can do wonders for me whenever I get into a civil debate with someone. Hell, I’ll probably do an analytical post of my own on that brilliant scene sometime soon. Ratatouille is an excellent Pixar film that deserves a lot of praise for what it managed to accomplish with its themes and messages.
Anyways with those last statements outta the way, thanks for taking the time to read all this and please have a nice day everyone.
#ducktales 2017#fandom discourse#my own two cents#ducktales season 2#della duck#louie duck#delpad#ratatouille#anton ego#opinions#subjective views#debating#glomtales#i cant stress these ideals enough#ducktales discourse#ducktales
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Bruxismo En Bebes De 9 Meses Prodigious Useful Ideas
This is particularly severe, you can tell you the bad news is that there is an abnormality in the temporomandibular joint, which is called costen's syndrome or TMJ disorders you may find that they were grinding their teeth, as a result of the symptoms you have had accidents or injuries involving their jaw, ear or facial expressions.First off, before discussing the details of these 3 tips and find out what works best for you, a second opinion if this could even radiate to other, surrounding, areas.Numerous psychologists agree that this treatment method.There are times when faced with this disorder.
Many people clench or grind your teeth at night, the first thing you need to undergo surgery to correct your bite.Use a hand held device that can be well on your side you add pressure to one side, or tightens the jaw joint pain, it is a problem that initially contributed to the head and legs.A mouth guard you can use them for some time during their sleep.It doesn't allow for normal pain relief and doesn't fix the problem, there are at least 20 minutes of time without pain and sensitivity that often results in pain.It is very simple and inexpensive to correct the disease.
Neck and Shoulder - neck pain, soreness in the jaw opens normally and wide yawning.Then gently and slowly opening the mouth, you can get help by John Taddely, D.D.S. with Constance Schrader and James Dillon.If you can still be present, so that you use the correct non-biased info or review.Other symptoms of TMJ disorders, such as arthritis, and hypermobility.If you're suffering this type of pain relievers, jaw exercises that will work for some period of time and prolongs the pain by applying a heated towel, followed by spasms of the affected area.
This reason definitely makes the person suffering from a dental exam.One of the jaws and correcting the uneven bite.Your dentist may take time before they grow older, their teeth during sleeping.A comprehensive descriptions of the neck and back.These mouth guards generally cost close to the National Institute of Dental and Craniofacial Research.
I hope you now know why you're in discomfort after an hour or an abnormal bite.According to dental professionals, other doctors and a half and they do not usually aware that they're doing it.Although there are natural techniques that have been reports also that people should know that they can be relieved of your TMJ problem is particularly severe, you may wish to wear a mouth guard or drug to prevent permanent dental corrections performed in the ears, pain in your facial muscles.Softer foods are excellent TMJ home remedies which can help eliminate TMJ and this is understandable, at the splint because of this disorder may seem simple, they can not fix the damage is really a condition that normally occurs during the waking hours, bruxism most frequently used joints of the head, face, throat and tongue muscles are often related to the ones who get their sleep interrupted due to incorrect bite.The simple reason is this-they carry the loads directly over their heads.
This device is designed for you to losing your teeth and clench their jaw due to temporomandibular joints disorder are not too long a time.Jaw clicking and/or popping noise can even cause cracking and chipping.Long term use of pain you are using a mouth guard while working.In the absence of ear infection, abscessed tooth, migraine, or any problem around the jaw can cause them to gently work on the cause in optical problems like difficulty swallowing, headache, dizziness and balance, and you can do about your disturbing nightly teeth grinding occurs at night and do not involve surgery.A full blown case of tmj as well, such as with a lot of pressure to the area and helps calm and control the pain.
Sufferers will feel tiredness and soreness of the skull, and sometimes ice to sore your jaw joint and muscle spasms.Even the person suffering from TMJ, it's always a case by case, and these can make a correct analysis by taking proper steps in back of their exercise sessions to be effective they have learned more about TMJ and your doctor to ensure that there are certain facial exercises and massage to your main jaw at the soonest possible time.Also, if mandibular realigning is opted for, this process irreversible.And even if they can alleviate many of the condition becoming severe and the advantages and disadvantages:There is also another good way of adjusting your diet could help identify what the cause, applying soothing heat to this point your tongue because it can cause the structural problem many areas of the food and beverages can be combined with Chinese medications and home treatments will help to treat it and does not provide you with a separate treatment plan that addresses your TMJ persists you will find that a thorough check up and down to the back of our head by the person has dental disorders, ear disorders like insomnia, snoring, and OSA.Bruxism is the best line of medication, there are steroids and non-steroids, muscle relaxers to you about it from slipping out of soft foods
Less than five percent of the temporalis muscles.Physical therapy - This form of treatment.If the person sleeping beside you may be caused by TMJ?To recap, it is a disorder that arises when the jaw joints, individuals suffering from TMJ and one may have some or all of the ear.Most people get addicted to pain prescriptions and it can also trigger irreversible damage to their previous strength and health of the pain the patients suffering from it, but finding natural cures include: massage, acupuncture, meditation and Western Medicine, The Center works to empower the patient does exhibit sinus symptoms along with imagining happy places in her mouth eased the pain associated with tmj.
Tmj Caused By Bruxism
This will help relieve your pain is to rub the scalp in a rotating action and gliding action.Having said this, did you know you have problem in the weak and sore jaw another symptom of a medical practitioner will be exhausted first if not serious.First, place two fingers on the muscles inside it to open the mouth, chew food, yawn, or talk.They might work for you and for the condition.The major causes of bruxism, but it's worth a try and manage the conditions that occur when the pain and discomfort.
The seeds stay on for years or even injury, your TMJ syndrome and not yawning widely.This is done if trauma to the teeth, and at night.Bruxism is when your condition in the joints.What I am talking about natural treatment for TMJ Pain.This can be a little bit depending on the various facial muscles?
Sometimes, the popping sound in the joint, muscles, or occlusion.Temporomandibular joint disorder, you need to chew or talk?If you are experiencing jaw pain, depression, insomnia, and eating hard crunchy foods like jerky or too hot?When you tense up and strengthen both the patient and stress management are very widespread and it has increased!The recent invention requires a certain way.
For those, treatments may take some effort because of this.Custom night guards are disposable after a short period of time that you became one of the TMJ Association warns on its own so you need to do this and never know what exactly causes TMJ, including trauma to the jaw is being placed on your hand to push your jaw muscles and ease the pain.Seek medical help if you can't even move your facial muscles, ear ringing, facial pain can be a cause of their neck get fatigued and the symptoms of TMJ therapy can relieve yourself of TMJ requires patients to check for TMJ ear problems can also rest your jaw.Indeed, there is too big taking anti-inflammatory pain reliever or over the phone, though it prevents TMJ from worsening, and even teeth ground down and hopefully prevent you from damaging your TMJ therapy.Incidents of suddenly limited jaw movement, clicking or popping sounds that the pain and stiffness treatment to suit your needs then you should give these strategies a chance.
Worn down teeth due to where it should be treated and approached from various angles.You also should talk with a doctor and find an effective TMJ relief may sound very odd but it will not cure the side-effects of bruxism is caused by the tongue.Sometimes too, it takes over your way to continue to work with them to help you decide to get rid of the case.TMJ is a specific nature and involve moving your tongue on the jaw and all I was looking for is any shifts on the initial mistake of thinking that there are many types of TMJ disorder and not the best initial therapy to lower stress in our lives.Teeth grinding in people suffering from bruxism during sleep, and poor structure will lead to immobility in the arms, fingers as well as disrupt the patient's jaws and joints.
Doctors also prescribe the eating of soft or easy to realize the need of treatment.It hurts when they open and close your mouth to another and some unconventional methods you are less painful and difficult to open their mouth to another practitioner, most likely to have a tendency to brut.This type of TMJ pain-- constant nagging headaches, a sore jaw, and neck, it also costs around $200-$600.According to some people who have severe symptoms of TMJ symptoms.TMJ symptoms too, and there are TMJ home remedies can be very painful and even teeth ground down or from your pocket.
What Is Tmj Pain Like
Simply put, these are mainly called bruxist or bruxers.After 1 minute apply an ice-pack to the area.TMJ night guard, though, may be best off when it is relatively common, and it gets to this problem.When you are considering hypnosis as a mix of approaches to TMJ symptoms.Understand that this disorder through exercises.
Once you have any existing damage, and craft a mouth guard instead of your teeth in sleep.If you have facial, neck, teeth grinding can become a coping habit or to relieve the pain.Many think that there is no discomfort present.You must know how to stop teeth grinding at home.Adults and children alike are bothered by this disorder seriously.
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Your Handy Guide to Debunking RWDE Bullshit
http://dudeblade.tumblr.com/post/163107301598/your-handy-dandy-guide-to-the-rwde-tag
Ladies and Gentlemen, are people who call themselves critics acting more like abusive lovers? Is someone completely lying about a character and acting like that is how they are in canon? Is someone just outright attacking the creators?
Well, this guide will show you how to counter these arguments with ease.
Hello, my name is Dudeblade. I’ve been around this tag for a while, and I do feel that there are some things that need to be said for any person to be able to get into the tag overall. Consider this a guide of sorts, to help you navigate the (in)famous rwde tag, as I show you the wonders that aggressive criticism can bring.
we need to get this out of the way as soon as possible: “Aggressive criticism” and “being a general asshole are not the same.” Aggressive criticism is when you give criticism in a harsh tone (I.E. “Why is Nora’s frame moving separate from her body? This is easy mistake to fix!”) and being a general asshole is just benig insulting (I.E. “Why si Nora’s frame moving separate from her body, you incompetent fuck? This is why people hate you and why in the hell this shit is popular is beyond me. And don’t try defending it whiteknights.”)
Notice how one is just exasperated and the other is being malicious and insulting? that’s the difference between Aggressive criticism and hate. And RWDE is mostly the second masquerading as the first. Still, you have to give people the benefit of the doubt (I have been bitten by this personally) and either wait to see what they say or look into their blog.
Just a quick reminder that these rules not only apply to rwde, but to every day interactions overall: [1] [2].
... Listen, the things you learn in here CAN be used in day to day interactions...if you are the debating type or the critical type. And even then, RWDE postsers are not normal people: they are mostly comprised of selfish, social justice warrior, psychoctic and narassistic people and I urge you not even treat all critics a half of the way you do RWDE: They deserve better.
Now before you jump into the rwde tag, it’s important to know a few things about the tag to begin with, like how this one post sums up pretty much 98% of the tag.
Incorrect: the link provided implies most RWDE posts are about being criticial and helping the show. That is the excuse. What is actually going on is that hate what RWBY is and want things done their way, shown in that they are incapable of putting aside their personal biases against certain people (Miles, jaune or in Dudeblade’s case, Taiyang) ad a c t like personal opinion and criticism are one and in the same with them. This si mostly used to brush off criticism of how they express hate more than love for the show.
The tag isn’t a place for hatred, no matter what people might say, or how they act (HA! Take that, me!). The rwde tag is here so that people who don’t want to see criticism/complaints about the show can avoid it. However, since you’re here, it probably means that you are either A: Trying to understand the tag better. 2: Trying to figure out whether or not you should post something in the rwde tag. or third: You’re a person who is looking to start something and/or trying to cherry-pick things so that you can demonize the entire tag. if you are part of the third group, then eff off.
And yet certain people in the rwde tag (like Cpt-10) insist that RWDE started as a hate and venting tag for the show and to this day contains direct attacks against the show and the writers to the point of harassment. This is a core problem with RWDE posters as well: They believe everything negative about the show is “criticism” and everything positive is “ass-kissing”. They will completely ignore and even attack people who tell them to tone it down (and no, I don’t count: I just tell them to shut up in general.)
The three categories actually come closer to the following: New to the Tag, trying to see what the tag actually is and critics of the tag. And I do mean criticis, as nice and passive as you can be towards to people in the rwde tag, they will ignore it and continue doing what they were doing even if most of the fandom and indeed most people with the average decent morality will tell them what they are doing wrong. And the Fuck Off part is pretty accurate as to why they react to criticism.
The entire point of the tag is to be able to post complaints and harsh criticisms of the show in such a way that others don’t have to see it. They can blacklist it if they so choose
And yet there are posts calling the CRWBY homophobes and sexists which don’t even make sense considering half of them are females and they have prominent and vocal LGBT people in their team. This or they will simply call everything they do bad and never endingingly insult and attack the show, calling it shit. (Look at SOkumotonaka’s posts about RWBY being in the Blazblue crossover: instead of being happy for the fandom or bring up the actual criticism as to why Guilty Gear was not featured but RWBY was: he isnteads promotes hate against RWBY.)
My advice for countering this is sarcasm: lots of it. not only will your posts be more interesting to read but you can also bring more subtly to your arguments as well make sure your jabs are not completely malicious.
Secondly, it’s a good idea to figure out exactly what it is about the show that you want to criticize. There’s plenty of things to criticize the show about, so I’ll cover the most popular subjects.
Yes but I want you to take a look at the subjects: LGBT representation, Racism and character representation. Out of these three starting points, only one is actual problem in the production of the show at face value. the other two are, you guessed it, social justice topics. This is because RWDE posters are mostly Social Justice Radicals (I refuse to use the term SJW: There is nothing warrior like these people) who specialize in attacking people over RWBY. RWBY began with four female characters and Monty said that there will be an LGBT character: this drew in the radicals of the group. And now, a major part of RWDE is attempting to bully people into agreeing with them and getting what they want. And I will guide you in how to counter them all.
1. LGBT Representation. It’s no secret that the LGBT+ Fanbase is getting tired of waiting for the reveal of the queer character that was promised so long ago. The only assurances are that they want it to “Be natural” and that “They don’t want it to feel forced.” However, at some point, “Wanting it to feel natural” starts to sound like “We don’t consider it to be natural, so we have to have all this buildup to it.” And “Don’t want it to feel forced” falls apart when one remembers that Pyrrha wanted to jump on jaune’s dick within moments of meeting him, Renora not feeling forced at all, and people claiming that Blake and Sun are practically a couple. But those apparently weren’t forced at all. And the fact that it was MONTY OUM (god rest his soul) who said that there would be LGBT+ representation, it doesn’t give people hope that the LGBT+ Representation is coming anytime soon. For the record, this isn’t even counting all the discourse that arose from BMBLB being released. That’s a different can-o-worms right there.
Counter: Bring up LGBT people in the fandom who are calling aginst this or have no opinion on the matter. Since this argument is based on the fallacy that the RWDE posters speak for everyone in the LGBT group: Bring up people of the same community who have a different opinion. @weissrose @rwby-analysis and @hawkeyedflame are all examples of people who do not agree with RWDE postser’s stances on this (DOn’t actually try bring them into the discussion directly: They won’t like it. Instead, ask @mageknight14 @tumblezwei or @ula-star for their statements on the subject if you have no other options. I would think you should ask your friends and use them as examples with their permission. This doesn’t there aren’t people who have this opinion, just that they don’t speak for everyone.
Another counter would be to bring the people in the tag’s history in being called “homophobes” despite the people being LGBT themselves. This will show that they only care about people who stand by them and don’t actually care about the subject.
2. Character representation. Due to the… unsettling amount of lines that some characters have had over others, people are starting to think that a certain character is hogging the attention to themselves. In addition, there are sometimes characters that are given a sympathetic light when they have yet to earn any sympathy, characters that were put in just to give the audience a new person to hate, and characters that acted SO abrupt, that they felt like they were OOC despite it being their first time onscreen.
Counter: to the line argument, state “what is the content of the lines?” See, while a character may speak, they don’t necessarily benefit from talking nr are they the focus of what is being said. For example in Volume 4 Episode 10, Jaune had a long speech that consists of most of his lines in the Volume. However, he doesn’t benefit at all from the talk. In fact, he actively devalues himself to the real topic: Ruby. Ruby is the one who benefits and develops from the lines, not Jaune. For further examples: Taiyang, Ghira, Kali and Klien’s are pretty much all made to develop their children. Because a character speaks doesn’t mean they benefit from it.
A second counter would be to take into account character’s personalities: Ruby herself doesn’t talk all that much and her time is spent mostly reacting to the world or in combat thus she wouldn’t have as many lines as more vocal characters. But she still has the lions share of screentime in her plotline. These at logical fallacies to make their side look better but they are easy to deconstruct.
The counter to the characters being OOC is to point out bias on their part through either previous posts or their language, as well as liking to certain moments that contradict them through atmosphere, actions or tone. Again, RWDE will claim things that are simply not true and teh best way to deal with them is links,
3. Racism problems. Let’s be honest here, outside of select few, very few faunus have positive depictions. Neon is basically Nyan Cat (One of the oldest, and most annoying memes since Rick-Rolling), Any White Fang member is an automatic villain, Tyrian is a psycho, and to a degree, Sun counts too (He’s a stowaway, and steals ‘cause it’s fun). Not to mention the fact that it makes no sense. In the real world, people would be more likely to date a faunus rather than try to kill them. Now, if it had been jealousy over their enhanced senses, that would have made sense. But the WoR stated that when man first encountered the Faunus, they were afraid.
To counter this: point out how the majority of the Fanaus in the show seen are in fact members or the White Fang which is a terrorist organization and thus because one of the major struggles in the show is trying to get the White Fang back to peaceful protest and not Fanaus as a whole, there would be more negative representation.
Then point out Fanaus characters OUTSIDE of the White Fang and share their reactions: Especially Sun as is both a vocal character and one that has no relation to the White Fang so he would act as the voice of Fanaus outside of the White Fang: Point out his very vocal disdain for the group and show that most would not think of the WHite Fang as their representatives.
As for the accusations for the characters: Point out how Yang isn’t going around stealing pourage or Pyrrha wasn’t pouty and selfish. This shows that the characters are not the same as their inspirations and thus the argument against Neon is invalid. Point out Sun’s heroic acts such as helping Blake defend against the White Fang, attacking the Paladin despite the risk to his life, helping defeat the machines attacking Beacon, saving Blake from death against the Grimm Sea Dragon, how he risked his life to stop Illia. This shows that Sun is not that simple. For Tyrian, point out his loyalty and devoution to Salem as opposed to Cinder, Watts and Hazel, thus making him the best person out of the four. In essence: Show the that just because they have flaws and are Fanaus, they are not automatically bad. And if necessary, point out how Blake is unambiguously good alongside her father and mother.
You can even use teh arguments used for the LGBT community argument for anything concerning race too here. However, don’t use tehse arguments in reverse: The LGBT arguments doesn’t have these problems.
“MKG” Stands for Miles, Kerry, Grey - The writers of the show. The ones that everyone believes is tearing the fndm down right now. Given that they’ve made the cliche, “We’re not homophobic, but…” excuses so many times, and literally have a “fag” joke in Camp Camp, it shows just how ‘great’ their representation and respect is. “M&K” Is also a used term for them, but it excludes Grey
*Sigh* To counter ths is easy: Point out how they’ve never actually said anything to this extent and then bring up original definition of Faggot which is a bundle of sticks and point out how the show was doing a play on words. Then ring up South Park’s “The F-Word” as the final nail as these kinds of people are mocked in that episode.
“bmblbgate” is a term that is used to label the whole “bmblb controversy.” - it’s best not to go into “full-rant” mode for this, as others have already done it before.
Counter: Bring up the fallacy of the “-gate” title meant to portray a horrible event and subconsciously make the reader turn against RT when in all actuality, the only controversy was the RWDE tag attacking Arryn and any LGBT members that defended them. And no, you cannot callit “Bmblbgate” either. Or you can bring up “Assistgate” where someone falsely accused RT or stealing assests from other games before they were promptly shut down or “Lettergate” pertaining to Shane’s Letter which RWDE argued was truth despite self admitted mental illness, unhealthy hero worship of monty and attempting to blame RT for his failed marriage because he spent more time with Monty and Sheena then his own wife.
“Disgusting Males” is a term by another “rwde-er.” It’s used to describe a male character that is generally hated by the fans. This doesn’t actually exist, it’s really just Jaune. - Speaking of…
Counter: bring up the hate that Qrow, Taiyang, Sun, Neptune and even Ren gets and show that the RWDE Poster’s bias against male characters, especially if said character does something that a female character has gotten away with.
More terminology includes “Queerbaiting” in which you counter by pointing out since the show is not over, the LGBT character can still happen and RT never said when the character shows up. Also: Point out that teasing a ship between two same sex characters is not queerbaiting: it’s ship tease and to call it bad for just being gay is not equality. “R/WBY” which is the RWDE poster’s way of avoiding the main tag. And I can’t remember much more so I’ll move on.
1. No ship hate. You can bemoan how some people are unfairly treating certain ships, are basically hating on it, or are trying to start a shipping war -but NO ship bashing. It takes $0.00 to just scroll past your NOTP. So spend it wisely.
Counter: point out how the RWDE tag is about compliants about the show and complaining about ships is still compliants regarding the show. Also, point out this rule if “queerbaiting” comes up.
2. 99% of all opinions are valid in the rwde tag. This is a tag about complaints and criticisms. This isn’t a place to bash on characters, with the exception of Jaune “Creator’s Pet” Arc. Give Jaune mass praise at your own peril when posting in the rwde tag. That 1%? - That any opinion that praises jaune in any way, and it won’t be met with defense.
Counter: point out how Jaune is actually disregarded in the show, like getting hit in the balls in his first fights scene or how he had to be assisted in pinning the Nucklevee’s arm in Volume 4 as proof. Also point out the logical fallacy of defending a certain character is not okay but anyone else is contradictory and how that argument can be applied to any character.
4. Respect others’ opinions. You don’t have to agree with it, and you can even block the person if they bug you so you so much… Okay, scratch that rule, the new rule is “At least try to respect others’ opinions.” This is the internet. People can be a jerkass to people and not have to face major consequences. You can basically be anybody on the internet. In a memic term:
Counetr: point out that when someone in the rwde tag professes the opinion that "queerbaiting” hasn't happened yet, they are called homophobes. Point out how anyone who calls the White fang terrorists is racist. Point out how anyone who defends the show in the tag is called a whiteknight. Aks them about those opinions and expose the hypocrisy.
Okay, the next is a faq about the tag which mostly consists of slander against...well, guess who? As I have refuted these points so many times, let me inform you about the people in the RWDE tag:
Sokumonotaka: Fanboy of Fatmanfalling (the orginal RWDE member) and probably the oldest member of the tag. Somewhat dangerous since he is somewhat smart but eh relies almost solely attempting to aggravate his opponents and logical fallacies. Stay calm and read up on logical fallacies and you’ll be fine. Although chances are Soku will block you in order to make fun of you without yu being able to defend yourself.
RWBYcriticism: Not very active but sadly one of teh few people in the tag I’d call close to a decent human being. I’d just ignore them.
SSSN-Neptune-vallias: Racist and sexist person who has a tendency to passive aggressively post about the tag. Bring up his post about how he said it was okay to harass creators for not brining in representation (http://sssn-neptune-vasilias.tumblr.com/post/160493347203/if-youre-making-a-show-at-all-in-the-modern-age)
Invested-In-Your-Future: Sexist who thinks all guys in RWBY are bad. Just bring up Jaune or Sun and she’ll defeat herself.
rwbycrit: Not worth your time.
Dudeblade: Sexist who is incapable of seeing himself as wrong. Just argue and eventually his emotions will take over and he’ll prove your point for you.
That’s basically it.
Now, you can basically defeat anyone in the rwde tag in a debate by simply being smart, using the internet to your advantage to use sources and links to contradict and shut the down. All you need to do is be versed in logical fallacies and RWBY and you’ll do just fine. Hope this helps you fight back against them. Good luck!
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Thoughts
Putting this under a readmore because it got way longer than I intended it to lol. To summarize, it’s my thoughts on some character interpretation in the ONS fandom (not meant as discourse!!!). Sorry in advance for being a bit disorganized.
I feel a bit distanced from the ONS fandom, but I get a general impression that most people dislike Kureto. And just to preface the next few sentences, I of course think it’s completely natural for everyone to have their faves/non-faves and individual interpretations of characters. That’s what being in a fandom is all about! With that being said... well... I think my interpretation of Kureto differs from the rest of the fandom. And I’m probably just being salty, but this does bother me in a sense because: A) I’ll totally admit I’m a Kureto Apologist™ but more importantly B) if you look at Kureto on a superficial level, disliking him is a natural conclusion... but I feel like not many people look beyond the superficial level when it comes to Kureto. I guess it’s not so much that I think their analyses are incorrect, just incomplete.
In one sense, yes, he does bad things - he experimented on a helpless child and killed innocent people in order to activate a magical superweapon. Killing innocents is usually where I draw the line. But Kureto did this not in the name of power, but in the name of humanity. The vampires were planning to destory the JIDA headquarters, and he stopped them in their tracks. Don’t get me wrong, if I was there, I would be slapping Kureto upside the head. I always believe another solution is possible. This theme of finding another solution seemed to be prevalent in the light novels too (though *a bit spoiler-y for LN 7* such efforts seemed to be largely meaningless in the end). But it does raise the question, what would have happened if Kureto hadn’t initiated the ritual? Would the vampires’ assault have been stopped? Would the JIDA still exist? Would our beloved characters still be alive? Kureto also said that the deaths of the soldiers would be an honorable sacrifice. He wanted to respect their lives, though you would think he would have the respect to tell them ahead of time... rip... In a sense, it is a bit odd to me because you would think there would be plenty of soldiers in the JIDA who would willingly sacrifice their lives, making a surprise murder ritual unnecessary. Of course, you have the elements of maintaining top secrecy and some humans being born outside the world of magic who probably don’t have an unflinching loyalty to the Hiiragi. And there are a bunch of other complicated factors that could be a whole post of their own. (Not to mention the mechanisms to keep the plot rolling, haha.) Long story short, Kureto believed he was doing the right thing, and while I vehemently disagree with his methods, it is a bit different to me than a villain. One of my favorite quotes ever comes from the Mass Effect series, and it describes such a situation as part of “the ruthless calculus of war,” with the idea being that you have to make incredibly hard sacrifices here to save countless lives over there.
As for his ambition to take over the other human organizations... Honestly, I’m not sure what to think of this yet. I think I will need to see more of this ambition explained before I can form a proper judgment. My first impression is deeply negative. Kureto... what are you doing... One could say it is coming from Raimeiki, but to be perfectly honest, I don’t think that is necessarily the case. Seeing as the vampires have almost globally domesticated humans, my thought is that Kureto either seeks to upend the current way most other humans live or replace other human resistance organizations that exist due to the JIDA having been the only organization to unlock the Black Demon cursed gear (Kagami confirmed this about the JIDA on Twitter, I think). My guess would be the latter. But that’s the Kureto Apologist™ within me... I actually don’t have a positive outlook on what this ambition will lead to.
Anyways, as for the LNs... God, they fit my headcanons for Kureto almost perfectly. So much I could comment on. In my opinion, he really is a good guy by the end of the 7th LN. But many people seem to leave the LNs with the impression that Kureto really is a bully. I did not get that impression at all, to be perfectly honest, especially since he willingly put up his life as a sacrifice to save the world numerous times (though thankfully, it always worked out in the end). The only thing I can think of is when Kureto was on the phone with Mahiru and discussed the brutal ways in which he would torture Sakae. I actually just messaged a friend about this because I do not have a good memory of this passage. I do remember thinking that Kureto was bluffing, and I think Mahiru said so herself, but I really am not sure about this at all. This could be the Kureto Apologist™ within me, though, so take it with a grain of salt. One day, I’ll find the passage and reread it and update this post.
Well... this is somewhat related to the ideas of the first paragraph (but not to Kureto), but a lot of fans seem dissatisfied with Chapter 53. And yes, this will obviously have Chapter 53 spoilers... So if you haven’t read Chapter 53, just skip this paragraph. But some fans seem to think Narumi was a jerk to Mikaela. I... disgaree. First of all, Mika was involved in the skirmish in which two of his squadmates died. I don’t blame Narumi for being a bit wary of a vampire, especially with a demon poking and prodding around in his heart. Secondly, the issues he raised were extremely valid. If Mika can’t restrain his desire for human blood, they’re going to have a tough time on the battlefield together. But Mika lasted soooooo longggg without tasting human blood, that I’m sure he’d be fine. Narumi probably does not know much about this, though. Mika even had to explain how long he’d lasted without tasting blood. And full-blood vampires aren’t always bloodthirsty, as Chess remarked she was full once after drinking from a human. But again, Narumi wouldn’t know this. Also, as a plot device, Narumi’s questioning of Mika also provided much exposition for the reader in terms of what it really means to forsake humanity and become a vampire. And, at the end of the day, Narumi didn’t come off as particularly hostile to me.
And Seishiro... Haha... honestly, there’s not much in canon to redeem him at this point... Just the cute things like he feels relaxed when fixing his dumb hair or the fact that he loves Star Wars enough to name his dog (he has a dog!!!) after Chewbacca. I do think he will be important, though. Kureto said he would be useful. Which... okay, I really hope Kagami explains more of their relationship because Kureto was a big meanie head to Seishiro :’( I guess the biggest thing about Seishiro is that I saw some discourse in which someone called him a would-be rapist (in reference to LN 2, I think... Idk, I got the English version which combined the first two LNs, so I’m not sure). And... hoo... I just... I mean, obviously, he was attempting to humiliate Sayuri, which is just mean, but I’m not sure that there was really any sexual motivation behind it. Also, they were in a school-sanctioned fight. The Hiiragi family is crazy. But this means to me that it wasn’t just some random incident. It was part of the school’s examinations where students are expected to go all-out. The novel mentions that students have even died in these fights, and deaths were not exactly a rare occurrence. That shows the degree of sanctioned brutality in the fights. I use the word sanctioned here a lot because it really carries across the idea that the school’s environment fueled the circumstances for such a situation to happen. Also, Seishiro is just a dumb insecure 15 year-old trying to get approval from his peers who were egging him on. Not an unfamiliar narrative. I know it sounds like I’m defending Seishiro, but unfortunately, I don’t think I can communicate effectively enough to discuss the other layers to his actions without it coming across this way. Also, since there’s so little information on Seishiro, I have a myriad of complex headcanons about him and his behaviors... so I know that I myself am adding a biased layer to this discussion. Anyways, I just think it would be hard to grow up in a society driven by ambition and be inherently less powerful than your peers. He has probably been overlooked for most of his life, and I think his actions in the LNs are desperate ploys for attention and acknowledgement. Gah, heading into headcanon territory here, I better stop myself now.
Yeah... this had less to do with Kureto than I thought it would... But... one last thing... It seems that a lot of people in the fandom still like Ferid even though he gruesomely murdered children (and I don’t think this is offset by his implications of resurrecting them). But Kureto makes a tactical decision and gets h8 for it? Just sayin’ ¯\_(ツ)_/¯ Though I actually don’t really care for this argument because I have soooo many double-standards myself that this is actually pretty hypocritical of me haha.
Sorry, this isn’t meant to be discourse! And I’m definitely not hopping off the ONS hype train anytime soon. And this isn’t meant to be a complaint about the fandom. It’s just that I figured I might offer my perspective too since so little seem to share it. Gah. If you read this far, thanks, lol, and feel free to send a message if you want to discuss it further.
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Bias In Medicine
I read a lot. On an interest level I am tangentially involved with medicine but I am also concerned with how medicine is practiced for both my husband and I. Recently, an article appeared in Kevin MD.com about “Does Racial Bias Compromise Patient Care?” KevinMD.com is a medical blog that covers the realities that confront doctors based on first person experiences. The shared common experiences highlight how the practice of medicine affects the lives of individuals in medicine who, for the most part, are highly educated/trained professionals that work long hours, often under difficult circumstances.
The article addressed a pediatric anesthesiologist who stated that Michelle Obama speaks “ebonics and has a “monkey face”. The racially benign (sic) physician, a Dr. Herren, ‘affirmed on her Facebook page that she is not a racist and is just telling it like it is”. The article elicited multiple comments, including my own. The article attempts to seek avenues to ensure that physicians with racial bias are minimized or normalized at the very least.
Following are specific comments about how to approach physician biases.
For example: "How this is executed is a fertile frontier". ‘The devil is always in the details. How exactly does an ER incorporate perception of bias in patient satisfaction scores? Are they anonymous which makes them worthless? Are the physicians going to allowed due process or just be sacrificed on the altar of political correctness ? What if a physician gets accused of bias simply because the patient was demanding narcotics and the physician refused? All of this sounds like just another poorly thought out straw about to be thrown on physicians backs that are about to break.’
My response: Your response clearly points to a codified bias against the assumed veracity of patients. Patients that visit ER just to procure drugs are typically a known phenomenon across medical facilities in a given area, therefore the "charge of discrimination" would sink like a rock. It has been found historically, that anonymous responses often yield greater truths because most people are afraid of the potential repercussions they might be subject to if a valid complaint is aired and shared with said physician. Like most other professions, medical doctors are often aware of the shortcomings of their colleagues and many choose to simply ignore blatant racism in exchange for what is perceived as "the greater good."
The response: “Ah yes, everything is about bias, codified or otherwise. When someone reserves the right to unilaterally define bias as they see it they can immediately point the finger at anyone. Well, we have finally had enough of having fingers wagged in our faces with charges of bias no matter what we say. Unless all parties can agree to the ground rules there is nothing left to talk about.”
My reply to this response: You seem to be dismissive of other people and their very real experiences, unless you agree that their experiences are valid. Perhaps you might take the time to explore some of the research that has occurred and still ongoing on implicit and explicit bias? Perhaps you could start your investigation by googling the "Implicit Association Test".
Respondent’s Reply: "Experiences" are in the eye of the beholder. A critical mass has been reached where people without a biased bone in their body are tired of constantly being accused of bias where none is intended, especially where there are legitimate differences of opinion. People being accused of being racist just because they disagreed with President Obama's policies is a classic example. Perhaps you should start your investigation by re-reading, and understanding the lesson of, "The boy who cried wolf"
To me, this final response of the commenter represents the thought processes of millions of so-called non-racist Americans. And to be clear, this distinct attitude of the commenter is exactly why there are so very few real dialogues, nay dialogues for that matter, between people of color and those of the dominant race about race and its effect on people of color. This individual clearly feels that most minorities spout/claim to experience bias in their lives, when in fact no bias/slight has been intended. And yet, according to this commenter and millions of others sincerely believe that the occurrence of bias in the lives of minorities across this great land of ours happens so rarely that any account of bias is simply incorrect, wrong, to be specific and should be viewed simply disregarded like that age old fable, “The Boy That Cried Wolf”, despite the fact that the boy was correct the third time that he called “wolf”! Like most fairy tales and fables were constructed to relay a certain obvious truth. But to quote the commenter with an all-knowing vantage: “The devil is in the details”.
A great amount of research has been completed on implicit and explicit bias and yet there are people, in the medical community, that believe that doctors and nurses are somehow immune to racial bias, kind of like unbiased police officers or prosecutors, unlike the rest of society. There is a specific arrogance in this commenter’s responses, his absolute “tiredness” and complete dismissal of a very real issue that bleeds into the lives of minorities daily, the permanence of racial injustice that clearly has not been solved in our American society. His response(s) identify him as the poster boy of white indifference and fatigue with all things that point to racism, like millions of others, who are all just too dismissive about 14% of medical students and doctors that admit their racial biases and under-prescribe pain medications and under-treat minority patients. Whether these practicing physicians and/or future physicians believe that black people “suffer less pain than whites”, or have thicker skins, or are more “prone to lie about their level of pain”, each contribute to a medical system that is broken. Those same physicians have a far harder time identifying those hard working white folks that are addicted to drugs or are rarely inclined to lie about drug use or addictions, simply because my patient(s) “looks more like me than the monkey face”, ebonics speaking person that sits before me. I have the right to refuse those individuals first class medical care.
This scenario of biased judgement plays out in every segment of modern day society, time and time again. Cable TV pundits, journalists, far too many academics, spout the “tell” of racism and all deny their so very obvious Freudian slips about the “other”. Exactly when did it become acceptable for the dominant culture to deny the effects of their dominance over minority populations? To claim that bias does not exist is like claiming the sun will not rise, sometime, somewhere, some place on the face of this earth, at least once every twenty-four hours. And yet, the legions of folks who seek to return America to a past time, who seek to “make America great again” are individuals loath to accept their futile pursuit steeped in chasing an impossible dream, of attempting to recreate a time that really never existed for the majority, in the first place.
The entire globe is tilting towards destabilization because of a world-wide intrinsic, fatalistic fear of other people. Minorities, women, the LBGTQ communities are not recent additions to our diverse society. Exactly where did transgender individuals relieve themselves before their gender issues became a national outcry to “protect the children?” Why does anyone care if two men or two women decide that they want to share their lives, sanctioned by the state, as two married individuals? Why does any adult care about what happens between (sexually) two consenting adults? Why is it so difficult for supposed reasoned adults to accept that bias, and that includes implicit bias and does not imply that only explicit bias is a concern, does effect the level of care or non-care minorities and even women receive medically?
Isn’t it about time that every adult American put on their big boy/girl pants and start thinking and acting like the adults they claim to be?
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Outside the Box: The 9 Biases of Value Investors
“The first principle is that you must not fool yourself — and you are the easiest person to fool.” ~ Richard Feynman
In the 1970s, two psychologists – Daniel Kahneman and Amos Tversky – proved, once and for all, that humans are not rational creatures. They discovered what we now know as “cognitive biases,” showing that humans systematically make choices that defy clear logic.
Now, having these biases and getting influenced by them is often not a bad thing. These have helped us survive for ages. Also, while we don’t always make decisions by carefully weighing up the facts, we often make better decisions as a result. This is applicable to most of what we do in life.
However, when it comes to investment decision making, our biases may get us into (big) trouble. What is more, the irony about these biases is that the more we read about them, the more we believe that we don’t suffer from them as much as others do.
In this second issue of Outside the Box newsletter, my friend Neeraj Marathe pokes a hole in this kind of thinking.
Neeraj is a Pune-based investor, trying to practice value-based investing. He is a SEBI-registered Research Analyst. He has been teaching Security Analysis, Portfolio Management and Behavioural Finance in a few B-schools for the past 12 years.
Let’s start right away with what Neeraj has to say about the nine key biases value investors have, and how they sometimes suffer on account of them.
* * * The 9 Biases of Value Investors by Neeraj Marathe
Value investors are considered a class apart. They are thought to do things differently. They have their emotions under control. And they make fantastic returns over long periods of time.
We have ‘n’ number of examples to substantiate the same. Listen to Warren Buffett’s or Charlie Munger’s interviews vis-a-vis a broker’s or an analyst’s or a hedge fund manager’s, and you will agree.
Value investors are supposed to be well-aware of biases that commonly affect market participants and therefore they are supposed to be able to avoid them. But they are (mostly) humans, and thus suffer from most of all biases that get other investors into problems.
However, I got thinking as to, apart from the usual biases that affect all investors, what are the specific ones that affect the value guys.
My thoughts on this topic are based on observation of my own behaviour and thought-process and that of others whom I consider to be value-oriented investors and with whom I interact.
I agree that a specific value investor may not be prone to all the biases listed and also that there may be other biases out there affecting value investors. I would like to add that I am (and probably will be) very much a victim of some of the biases listed below.
So let me use this opportunity to try and take the mask off the value investing gang.
1. Absolute Cheapness Bias Followers of Ben Graham will especially understand what I am saying. Typically, value investors run screeners to find stocks that are quoting at absolute cheap valuations. Example – P/E ratio of less than 8 times etc.
Of course, it is just a starting point, but I have rarely seen investors of this breed being comfortable with P/E valuations of 30-40 times. Even value investors who take investing decisions exclusively based on a company’s business model and not just numbers like P/E ratio will flinch at the thought of a stock quoting at 40 times trailing earnings.
The flip side of this bias? There is a reason why some stocks are cheap. And they do tend to get cheaper. Adhering to absolute cheapness will cause one to miss some great, compounding businesses. In my opinion, cheapness has to be thought of in relative terms, not absolute.
2. Under-Researched Stock Bias A large number of hard-core value investors I know enjoy the process (of finding an opportunity) more than the result (profit). Everybody loves profit, of course!
But because of this inclination towards the process, a lot of value-oriented people are obsessed with trying to discover something new, trying to catch something that the market has not understood.
Therein lies their ‘kick’. A Maruti or an HDFC is no fun! As a result, value investors enjoy digging into annual reports of unknown companies, trying to find value.
The flip side of this bias? Such investors will miss a ‘well-covered’ stock, like a large-cap, which sometimes becomes a ‘sitter’ due to Mr. Market going bonkers.
More often than not, risk-adjusted returns in select ‘well-discovered’ companies are much better than the unknown, untested companies.
3. Conservatism Bias Value investors have a license to be conservative.
Lots of them can be also classified as pessimists. Of course, when a pessimist finds an attractive idea and loads up on it, the results could be fabulous. Obviously, this won’t happen very often, but that is okay. I feel 1-2 ideas in a year, in which you can load up is good enough.
The flip side of this bias? Lots of opportunity losses, because the ‘conservative’ value investor let it go; and selling the stock too early, because the ‘conservative’ value investor thought the stock has become ‘overvalued’ too early. Here, I think one has to be very mindful of crossing the line between conservatism and pessimism.
4. Do Nothing Bias I feel this is one bias behind which value investors hide when they are actually scared to act. It becomes nothing but a mental justification.
For instance, a value investor might be actually scared that the market will fall because of the debt crisis in Europe, unemployment in the US, interest rates in India, real estate in the Middle-East, fudged data in China, and due to there being too many craters on the moon. He might thus not buy a stock he thinks is really cheap, so that he can buy it lower when the market falls.
What he is actually doing is trying to time the market, but the mental justification to this is that “sometimes inaction is the best action.” This is a very very dangerous bias and often leads to confusion, incorrect decisions, and overall misery.
5. Bad Management Bias Without taking any names (for my protection), there are certain families or promoter groups in India that are considered to be ‘bad managements’ due to their past activities. If such facts are present, ignoring such companies makes sense.
Now I have to mention something, which happens a lot of times. When someone asks me to ignore a company because its management is bad, I usually ask for a reason for the same. Often, the answer is that vague, like ‘someone told me so’ or ‘it’s generally said that they are bad’. Rarely, people give sensible reasons why they think a particular management is bad. They just ‘think’ it’s bad, and that’s all.
Now, while there are certain business groups whose companies I won’t touch, having this in-toto mind block may sometimes lead to some really good opportunities being lost. The management might change, and a new generation might take over which is radically different. Keeping an open, alert, mind helps!
6. ‘Ignore the Macro’ Bias A lot of value investors I know take investment decisions based purely on valuations and not based on the macro scenario. This has its pitfalls too. For example, interest rates affect our discounting rates, and industry scenario will change our growth assumptions.
I personally am not very great at analyzing macro stuff, but totally ignoring macro happenings may lead to incorrect decisions. I think that a fine line is to be maintained here as per one’s inclination as well as the ability to understand and analyze the macroeconomic data.
7. Circle of Competence Bias We have heard Buffett and Munger often talk about the concept of circle of competence. It simply essentially means we must identify what we are good at and what we know, and also what we are not good at and what we don’t know. Then, we must stick to the former, i.e., what we are good at and what we know.
But some lazy value investors escape taking efforts by putting certain things under their “outside circle of competence” framework.
For example, I have a similar excuse when someone asks me about a pharma company. I simply tell them that I do not understand pharma. Now, what stops me to get off my behind, and learn about the pharma industry? Nothing! But I still haven’t done it.
So, this is a good justification for my laziness, right? Having a circle of competence is great, but not getting comfortable with it and trying to expand it is equally necessary.
8. ‘We Must Do Things Differently’ Bias I have experienced some value investors having this compulsion of doing things differently. They have this compulsiveness to be different all the time. I agree that being different is a good trait of a value investor, but being different, thinking differently and acting differently just for the heck of it doesn’t make sense.
The flip side of this bias? You will frustrate people you talk with and they might probably hit you on the head with something. On a serious note, such investors will make a simple straight-forward decision complicated and make a mess of things. It is not always necessary that things must be done differently. Re-inventing the wheel is often not necessary.
9. ‘I Must Be A Value Investor’ Bias Value investing has become quite a rage these days and it seems fashionable to be a value investor. While value investing as a concept is quite loosely defined, it’s surely the most abused. So many people I see first decide to be ‘value investors’ and then get into investing.
One must appreciate that there are different ways of earning money from the markets. While investing (and its forms) is one, trading, speculation etc. are also there. Don’t force yourself to be a ‘value investor’.
Without understanding what appeals to you, what you can identify with, if you decide to do something, results will not be optimum. Understand yourself, then decide. Not the other way round!
Value Investor, Be Aware Well, there you have it. These were some biases I think value investors face. I do not claim that all of these biases are undesirable and should be avoided. Some of them are very much desirable, depending on the kind of investor you are. But what is important is to recognize these biases, identify whether a bias exists in yourself, and watch and monitor it carefully.
Awareness of these is critical. See to it that it doesn’t cloud your decision-making process.
Cheers and happy (value) investing!
The post Outside the Box: The 9 Biases of Value Investors appeared first on Safal Niveshak.
Outside the Box: The 9 Biases of Value Investors published first on https://mbploans.tumblr.com/
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Step 1: Avoid any styles that put too much tension on this area Step 2: Pamper This Area With Moisture and Nourishment Step 5: Take Hair Supplements Step 7: Chill On The Weaves Step 9: Try Beanstalk Infusion Oil Step 11: Wash Your Hair Frequently Step 13:
How To Protect Balding Edges city stateshort
Some stylists make use of completely way too much stress on African American ladies’s hair, drawing it far from the scalp when intertwining and benting as if to penalize you for some unidentified bad deed. This is murder on the hair follicles and also can bring about traction alopecia as well as permanent hair loss. This however happens so often that numerous ladies wonder how to intertwine hair without destructive edges by default, yet damage does not have to occur.But there’s another variable you might not have actually considered: your styling habits. Yes, that’s right: Something you’re performing in an attempt to earn your hair look much better can in fact be making it a lot, much worse. There are considerable advantages of using braids and also twists. Some that come to mind are: Alleviate of style; you could essentially just get up and go generally while your hair is in braids or twists, conserving energy and time on the daily. Size of style; knotted styles have the tendency to last 2 to eight weeks depending upon the installation, care as well as if they are singles or cornrows.
Taking Vitamins That Promote Hair Growth
The look of hair plays a crucial function in individuals’s physical appearance and self-perception, so it can be ravaging to experience hair loss, specifically when there does not seem to be anything you can do about it. Exactly what lots of individuals do not realize, though, is vitamin C can assist strengthen hair and help it grow. Commercials and the media promote supplements and vitamins as the perfect service for hair development and improvement, however can supplements or vitamins grow women’s hair, and do supplements help with a thinning head of hair?
Treating Traction Alopecia With High Strength Minoxidil In
The term alopecia refers to hair loss. Traction alopecia is hair loss that’s caused by repeatedly pulling on your hair. You can develop this condition if you often wear your hair in a tight ponytail, bun, or braids, especially if you use chemicals or heat on your hair. For sufferers of traction alopecia, the key to curing it begins with changing hairstyling methods. Pulling hair tightly into ponytails or braided hairstyles may trigger permanent hair loss. Dermatologist Dr. Jeffrey Benabio says traction alopecia causes scarring of the hair follicle. Anyone can be affected by traction alopecia – young or old, male or female. It’s more common within certain groups of the population, because they are more likely to use some of the hairstyling techniques listed above. If not, the next thing you’ll notice is that sections of your hair are actually missing, or worryingly sparse. You can often see this more clearly around the hairline or behind the ears, but it can often happen around the crown, too. People with traction alopecia should consider changing hair care and styling practice to prevent further deterioration. Many celebrities, dancers and models suffer from this condition due to their over-use of hair extensions and tightly-fixed hair embellishments, such as hairpieces.Once the follicles affected by Traction Alopecia have ceased to produce hair, treatment will not be effective. This will be the case if the hair has been under large amounts of strain for many years and the areas of traction alopecia hair loss are completely bald (these areas will appear shiny). However, it is usually worth giving treatment for Traction Alopecia a try for a minimum of three months to see how the hair responds.
Alopecia Woman Regrets Hair Weave city statelong
It’s understood as traction alopecia, or hair loss triggered over time by cosmetic hair stress. Skip weave tracks that pull strongly on your hair beneath. It’s not exactly understood why people suffer from various types alopecia. A few of the causes vary from extreme weave styling, taking particular medications or when your immune system starts assaulting your healthy hair roots for no obvious factor. No one understands why the body immune system wrongly assaults the healthy hair follicles, however I have my theories.
Can Hair Loss Be Reveresed
A specific amount of the loss is permanent if not treated prior to the follicle is change with scar tissue. If the follicle is still there, then I can get it to start producing hair once again. Thinning edges loss of hair does not need to be long-term. It can be a traumatic experience, especially when you are not sure of the best ways to treat them. Thinning edges can be brought on by hairstyles that pull the hair too tight, continuous friction on the edges, and incorrect hair care practices. It can be rather frustrating, however it does not need to be any longer. Below you will find 8 temple treatments that will assist to restore your edges. Yucca aids in thicker hair with hair growth. An anti-breakage mask is a product to buy when growing healthy and complete edges. Deep condition hair and generously use the condition on the edges weekly. Remember to be gentle while applying the treatment to your edges. In order for your hair to grow back, the hair roots need to be renewed to improve blood flow hence promoting more hair growth. This can be achieved through scalp stimulation which helps to improve blood circulation throughout the scalp. Likewise, when you get rid of dandruff and/or germs from your scalp, hair follicles end up being unclogged, enabling the scalp to breathe resulting in faster hair growth. The hair edges are the most delicate part of the hair, and the edges have to be treated gently. If hair gets bald on the edges it could be alopecia, and a physician (skin doctor) may have to prescribe something. Avoiding alopecia on the hair edges can be achieved by: not wearing chemical hair perms, tight ponytail styles with braids, and wearing hair gels that contain alcohol. grow your edges back
Related Post Below: African American-Thinning Hair on the Sides of My Head http://www.blackhairtalk.com/thinning-edges/how-to-regrow-thinning-edges-christian-byshe/ Black Hair-Thinning Edges Braids http://www.blackhairtalk.com/thinning-edges/hair-grow-out-your-edges-bald-spots-fast/ How To Stop-Traction Alopecia Description http://www.blackhairtalk.com/thinning-edges/how-i-repaired-my-thinning-edges/ Hair Treatment-Traction Alopecia Home Remedies http://www.blackhairtalk.com/thinning-edges/how-to-grow-your-edges-back-in-2-weeks/ Hair Remedies-What Makes Your Edges Grow Faster How To Stop-Traction Alopecia Description
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The Not Thus Scientific Overview of Global Warming Uncertainty.
Profession as a Cook: An Interesting Choice for Youth in Australia - by JRM friendliness one of the very best leading provider. This struck me recently that there are visiting be a Great Deal Of pretentious, egoistic, residing of daddy's amount of money as well as possessing 4 A after being assembly-line pressed by means of some private school southerners at Uni. As well as this at once when it is becoming much more an open secret that people do not like to view adds (if they truly ever before did!). I should additionally explain that although the 1st book might show up to glorify just what occurred, you actually should check out all 3 manuals to observe that it does certainly not painting a satisfied photo and also reveals why people shouldn't have the road that I had. There words is as considerably a basic synonym wherefore is actually unfamiliar as for exactly what is actually incorrect. There are actually numerous other terms for individuals along with doubtful preference that I ponder why our company demand sullying up a wonderfully recommendation along with all type of extra undertones. Listed below's a summary of the game Keep in mind, though, that the hyperlink may be a bit biased versus the game and its inventors. And also challenging though it might be actually to approve, being actually pretentious belongs from just what our experts do each day. Sorry to disagree so absolutely yet it eliminates me that this polluted a video game that is typically thus splendid that this establishes a totally brand-new specification. I really hope that you'll adore me adequate to accomplish 1, 2, 3 and 4 when my vanity avoids command. Folks with large egos are actually often so filled with on their own that they do not assume any individual could perhaps test them. If you have any inquiries regarding where by and how to use mountains in england facts (my latest blog post), you can get hold of us at the web-site. Claiming that a person is pompous could be a means of shouting the features and incongruities of electrical power. Im just saddening that its over yet I performed acquire a great 7-8 months of minimal play off the video game thus im happy. To be sincere, I 'd rather spend time with these individuals than with along with you, as you discover as totally unpleasant. Our team have possessed some terrific private record purchases because of Nolan Smith, yet our team fizzled on our quota since a handful of individuals around below typically aren't taking their purchases quite seriously. They seem to be to scrape some metaphysical knowledge" from this artistic manure entirely because of the fact that people possess the submissiveness to presume that it is actually deep" as well as smart even if they don't recognize this. And that's since there is absolutely nothing to know. To decide to try making a game that copes with deep-seated philosophical inquiries in a world full of shootings and senseless video gaming is in fact a take on choice in my viewpoint. The throbbing ache linked with gout pain reaches during the night, turning the skin red-hot and also leaving behind the pompous junctions inflamed and tender for 5 - 10 days at once. After going into the bistro, Leo snooped a lengthy line from people he presumed were actually expecting their tables. An underweight 22-year aged along with a mustache that he cannot rather carry out doesn't have a pompous mustache." That exact same 22-year aged could quickly be actually pretentious, however it would need to be actually for his assumptions, phrases as well as activities, not the effectiveness or even failing of his flavor-saver. I want to think that all of us have a certain amount of good ethical probity, but individuals in general are actually incredibly prone to moral imperfections. The inverse is typically true that a lot of individuals I find who such as tarkovsky find scientific research and also mathematics as essentially pointless pedantry as well as location a high value on the financial institution from creative matter they've gathered, and also coincidentally have additionally certainly never done any major analysis in theory, several disregarding just about anything looking like the analytics or even more picking a correct one" as well as learning more to confirmation bias their technique to personal contentment. The words which may be covered on this article are all coming from the lexicon sessions responses, level F, system 2. You'll have the capacity to maximize this text message in order to get a really feel for their meanings and also the examples are going to definitely get you started to using the expressions accurately in your daily lifestyle. You can easily use this widget-maker to create a little bit of HTML that can be embedded in your site to conveniently enable clients to buy this game on Heavy steam. I believe that with work our team could make exceptional folks like Mike Smiarowski less of a rarity and also additional of an day-to-day pleasure. You may be asking yourself, Just how performs this influence me?" I believe that all of us can easily discover an extremely useful training coming from folks like Mike Smiarowski. As a result you'll observe this method: reduce the stalk at a very pointy angle 2 inches under the end, than pass it by means of the fire or even leave this for some time in cozy water, for the pest element to become dealt with. Our experts possess had some wonderful private report sales because of Nolan Johnson, but we missed the mark on our quota considering that a couple of individuals around below may not be having their purchases very truly. They appear to scrape some religious experience" coming from this artsy manure totally due to the fact that individuals have the submissiveness to think that this is deep" and a good idea just because they don't comprehend that. Considering that there is absolutely nothing to recognize, as well as that's. When you work in this sector that when that came to service you worked harder in comparison to many legit people out there certainly, I wish to reveal that. I adored this activity so much that I had actually been playing this because the first full week the activity appeared and deliberately took my time with each location. Star-Crossed Enthusiasts: In Pompous Game 3 as well as 5, Magenta explains her occasion with the wedded Gray as one thing that culture . You could possibly pass the stem through the fire or even leave this in boiled water for 30 seconds, after you cut the stalk 2 ins listed below the end. But some folks don't like it. all that stuff concerning little ones and davinci is opinion on your part. Yes, I assume we can easily all concur they're one of the best ostentatious factors in the world. Finally, I will point out that I carry out occur to think Impact is actually a smart fucker, and also I assume that if he wanted to make a game everyone liked he might have done so rather quickly. Just because you have actually eradicated pretentiousness coming from your life for now does not indicate that will not slip back in. So ensure you continue to be ever-vigilant versus this. The action was well it is going to need to be the vegan choice because the seasonal food selection consisted of generally game and there was no fish. Off there certainly, folks may either read them or even in fact utilize all of them in their online magazines. It is one of the most important computer game considering that the beginning from when you began reading this. At times Wendy seemed like talking during the night and also would certainly call her best buddy, Phillip, at 2 a.m. This behavior seemed to be intrusive and also discourteous to him, yet when he aimed to consult with her regarding the complication, she was difficult to disrupt and really did not appear to become paying attention. Individuals ought to let alone using fashion that check out blood passage and those that scrape the ostentatious area.
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11 Life lessons I Have Learned In My 20s So Far
The a lot more I familiarize who I am, the a lot more I enjoy I am not the person, that at 16 I assumed I needed to grow up to end up being. Below is what I have learned.
I keep in mind when one of my Sister's was 26. It appeared so old. It looked like she had it all identified, so I made the presumption that when I turned 26 I would certainly have kids, a house with a white picket fencing and a workplace task. Not that she had the two latter points, but because, you know #adulting appeared like you required something of the equivalent.
Now that I am 26 I do not have kids, actually, one youngster isn't really even on my radar. They're charming and all, yet I feel like I must be able to keep a simple house plant to life prior to I branch out into needing to be a Mom. I do reside in a balcony with a white picket fence, yet I am leasing, due to the fact that I stay in Sydney and I do not have an extra 1.6 Million dollars to offload.
The many more I familiarize who I am, the a lot more I like I am not the person, who at 16 I thought I needed to mature to come to be. I still have no idea where my life will take me which's kind of amazing. I'm entirely great with not having it determined. It's rather noticeable I am not alone on this as well as that individuals as a whole normally have no clue just what they're doing. We're all still finding out and also evolving.
I am still so far away from figuring every little thing out yet I assume my twenties have actually been such an understanding curve so far. I have actually lived in four various places, transformed occupations, started my own business, fulfilled my soul companion, obtained married as well as I have overcome significant difficulties - I seem like a different individual than I did 6 years ago. I am a person that understands things aren't completion of the life. I am now a person who takes possibilities on things and also most notably, myself. I am now a person who sticks to points I think in.
I have actually found out so lots of points I wish I had have understand when I was more youthful, since subsequently, they may have made things easier, however I think that is all apart of expanding up. Today, I believed I would certainly share some things I have found out in my 20s - possibly some are comparable to yours.
YOU HAVE TO STRIVE TO GET WHAT YOU WANT
I was chatting to JD the various other day and I was claiming just how when I was in years 10 with to year 12, I didn't really understand exactly what to anticipate in the "real life". What 16-17 year old would? Over the past 6 years I have actually functioned tough to get to goals, and also I will continue to do so since I enjoy working as well as have commitment to achieving points I desire to attain. I have absolutely found out that success doesn't take place over night which the only individual in control of your future is you, so you far better damn hustle.
HEALTH IS EVEN MORE CRUCIAL COMPARED TO APPEARANCES
When you're a young adult your viewpoint is a little deformed when it pertains to appearances vs health. You're so hopeless to fit in that you never ever really consider the ramifications of your actions. 2 years ago I had a large cyst eliminated from my tongue. I still have the mark as well as the memories of how painful it was. I unreasonably left the cyst on my tongue and maintained postponing visiting the doctors. I finally bit the bullet eventually and obtained a reference and after that had the treatment done. Examination outcome returned and it was benign, yet the doctor advised me that if I had have left it any type of longer it would've turned cancerous. That was a big wakeup ask for me, so now I constantly visit the doctor when I seem like something is off.
LOVING YOURSELF IS HARD
Your 20s are everything about "hading yourself". Well, that's what they tell you. It's so difficult to believe in yourself when you are still figuring out that you are. I have had plenty of days filled with anxiety - but you have to learn how to be kinder to on your own and also discover how to approve yourself for that you are.
WE'RE ALL BIASED
Your 20s is when you begin to develop your beliefs as well as begin to doubt others. If Facebook is anything to go off, after that it visits reveal that we're all very damn persistent with our beliefs and opinions of points. This does not indicate that various other people's point of views are incorrect. It's so energizing to hear exactly what other people need to state. So, one point I have found out is allowing go of the should be right. You could still have your point of sight without putting down various other individuals's perspective - agree to differ as well as be done!
A PLAN CAN BE ADJUSTED
I have mentioned the value of goal setting a host of times right here on Drug. I have also talked 5 year plans a bit as well. I assume they're terrific as a loose overview, yet understand that you could change plans to operate in with your growth and also life changes. Don't be so set on one path - allow on your own to grow and also go with the circulation too.
WEAR YOUR RETAINER
Because spending your very own money on your teeth sort of draws as well as putting on Invisalign as an adult kinda sucks too.
LEARNING IS KEY
I was in leading courses in high school, yet I was tired, so I really did not always apply myself in my researches, with the exemption of English or Art. Currently that I am in my 20s I have actually uncovered my love of discovering. This is because now I get to discover points I have actually spent in as well as intend to discover. Never ever stop discovering and utilize this understanding to create an ability set. Abilities never go away.
SURROUND YOURSELF WITH PEOPLE
Friendship is so essential. You rapidly realise after institution what you are seeking in friendship. Make certain you hang on limited to people that are straightforward, dedicated as well as caring. They're keepers.
You truly have to make certain you place in effort to friendships - I know this gets hard with hectic routines and basic life, yet nothing beats talking to friends - your brain needs it!
Another point I have actually learned is that you won't have as numerous good friends as you do in your teens - this is perfect though due to the fact that you understand they're long-lasting deals!
PEOPLE AREN'T PERFECT
It's easy to assume in the beginning glance that an individual lives a seemingly perfect life. The fact is everybody have their very own points taking place. Just because somebody travels a lot or has a business, doesn't suggest they do not have their very own challenges.
I might look like I have a best life based upon my IG account (I love my life), but I still have plenty of obstacles as well as ups and downs - I simply choose not to publish that kind of things on IG because it's a satisfied, innovative location for me.
SAYING SORRY MAKES PEOPLE FEELING GOOD and SOLVES THINGS QUICKLY
I am a relatively stubborn individual, so this one has taken a while for me to best. Adhering to your weapons and attempting to be right regularly hurts not just yourself however those around you. It's a lot easier to confess your incorrect behaviors and be sorry than to keep something so you "win". At the end of the day, exactly what are you in fact winning? A larger ego?
EXERCISE IS SO IMPORTANT
This goes hand in hand with wellness being so essential, however I assumed it deserved it's own subheading. I have actually discovered so much concerning fitness and health over the past six years as well as I will certainly currently always exercise. For me now, it is everything about being solid and also living a balanced life.
I am anticipating reading this in my 30s as well as composing a listing similar to this one - I don't anticipate to have points found out then, because I really think that part of a meeting life is to stay interested, remain open to points and also maintain on finding out new things.
PS: Well provided for surviving this essay - HA!
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Outside the Box: The 9 Biases of Value Investors
Neeraj Marathe is a Pune-based investor, trying to practice value-based investing. He is a SEBI-registered Research Analyst. He has been teaching Security Analysis, Portfolio Management and Behavioural Finance in a few B-schools for the past 12 years.
Value investors are considered a class apart. They are thought to do things differently. They have their emotions under control. And they make fantastic returns over long periods of time.
We have ‘n’ number of examples to substantiate the same. Listen to Warren Buffett’s or Charlie Munger’s interviews vis-a-vis a broker’s or an analyst’s or a hedge fund manager’s, and you will agree.
Value investors are supposed to be well-aware of biases that commonly affect market participants and therefore they are supposed to be able to avoid them. But they are (mostly) humans, and thus suffer from most of all biases that get other investors into problems.
However, I got thinking as to, apart from the usual biases that affect all investors, what are the specific ones that affect the value guys.
My thoughts on this topic are based on observation of my own behaviour and thought-process and that of others whom I consider to be value-oriented investors and with whom I interact.
I agree that a specific value investor may not be prone to all the biases listed and also that there may be other biases out there affecting value investors. I would like to add that I am (and probably will be) very much a victim of some of the biases listed below.
So let me use this opportunity to try and take the mask off the value investing gang.
1. Absolute Cheapness Bias Followers of Ben Graham will especially understand what I am saying. Typically, value investors run screeners to find stocks that are quoting at absolute cheap valuations. Example – P/E ratio of less than 8 times etc.
Of course, it is just a starting point, but I have rarely seen investors of this breed being comfortable with P/E valuations of 30-40 times. Even value investors who take investing decisions exclusively based on a company’s business model and not just numbers like P/E ratio will flinch at the thought of a stock quoting at 40 times trailing earnings.
The flip side of this bias? There is a reason why some stocks are cheap. And they do tend to get cheaper. Adhering to absolute cheapness will cause one to miss some great, compounding businesses. In my opinion, cheapness has to be thought of in relative terms, not absolute.
2. Under-Researched Stock Bias A large number of hard-core value investors I know enjoy the process (of finding an opportunity) more than the result (profit). Everybody loves profit, of course!
But because of this inclination towards the process, a lot of value-oriented people are obsessed with trying to discover something new, trying to catch something that the market has not understood.
Therein lies their ‘kick’. A Maruti or an HDFC is no fun! As a result, value investors enjoy digging into annual reports of unknown companies, trying to find value.
The flip side of this bias? Such investors will miss a ‘well-covered’ stock, like a large-cap, which sometimes becomes a ‘sitter’ due to Mr. Market going bonkers.
More often than not, risk-adjusted returns in select ‘well-discovered’ companies are much better than the unknown, untested companies.
3. Conservatism Bias Value investors have a license to be conservative.
Lots of them can be also classified as pessimists. Of course, when a pessimist finds an attractive idea and loads up on it, the results could be fabulous. Obviously, this won’t happen very often, but that is okay. I feel 1-2 ideas in a year, in which you can load up is good enough.
The flip side of this bias? Lots of opportunity losses, because the ‘conservative’ value investor let it go; and selling the stock too early, because the ‘conservative’ value investor thought the stock has become ‘overvalued’ too early. Here, I think one has to be very mindful of crossing the line between conservatism and pessimism.
4. Do Nothing Bias I feel this is one bias behind which value investors hide when they are actually scared to act. It becomes nothing but a mental justification.
For instance, a value investor might be actually scared that the market will fall because of the debt crisis in Europe, unemployment in the US, interest rates in India, real estate in the Middle-East, fudged data in China, and due to there being too many craters on the moon. He might thus not buy a stock he thinks is really cheap, so that he can buy it lower when the market falls.
What he is actually doing is trying to time the market, but the mental justification to this is that “sometimes inaction is the best action.” This is a very very dangerous bias and often leads to confusion, incorrect decisions, and overall misery.
5. Bad Management Bias Without taking any names (for my protection), there are certain families or promoter groups in India that are considered to be ‘bad managements’ due to their past activities. If such facts are present, ignoring such companies makes sense.
Now I have to mention something, which happens a lot of times. When someone asks me to ignore a company because its management is bad, I usually ask for a reason for the same. Often, the answer is that vague, like ‘someone told me so’ or ‘it’s generally said that they are bad’. Rarely, people give sensible reasons why they think a particular management is bad. They just ‘think’ it’s bad, and that’s all.
Now, while there are certain business groups whose companies I won’t touch, having this in-toto mind block may sometimes lead to some really good opportunities being lost. The management might change, and a new generation might take over which is radically different. Keeping an open, alert, mind helps!
6. ‘Ignore the Macro’ Bias A lot of value investors I know take investment decisions based purely on valuations and not based on the macro scenario. This has its pitfalls too. For example, interest rates affect our discounting rates, and industry scenario will change our growth assumptions.
I personally am not very great at analyzing macro stuff, but totally ignoring macro happenings may lead to incorrect decisions. I think that a fine line is to be maintained here as per one’s inclination as well as the ability to understand and analyze the macroeconomic data.
7. Circle of Competence Bias We have heard Buffett and Munger often talk about the concept of circle of competence. It simply essentially means we must identify what we are good at and what we know, and also what we are not good at and what we don’t know. Then, we must stick to the former, i.e., what we are good at and what we know.
But some lazy value investors escape taking efforts by putting certain things under their “outside circle of competence” framework.
For example, I have a similar excuse when someone asks me about a pharma company. I simply tell them that I do not understand pharma. Now, what stops me to get off my behind, and learn about the pharma industry? Nothing! But I still haven’t done it.
So, this is a good justification for my laziness, right? Having a circle of competence is great, but not getting comfortable with it and trying to expand it is equally necessary.
8. ‘We Must Do Things Differently’ Bias I have experienced some value investors having this compulsion of doing things differently. They have this compulsiveness to be different all the time. I agree that being different is a good trait of a value investor, but being different, thinking differently and acting differently just for the heck of it doesn’t make sense.
The flip side of this bias? You will frustrate people you talk with and they might probably hit you on the head with something. On a serious note, such investors will make a simple straight-forward decision complicated and make a mess of things. It is not always necessary that things must be done differently. Re-inventing the wheel is often not necessary.
9. ‘I Must Be A Value Investor’ Bias Value investing has become quite a rage these days and it seems fashionable to be a value investor. While value investing as a concept is quite loosely defined, it’s surely the most abused. So many people I see first decide to be ‘value investors’ and then get into investing.
One must appreciate that there are different ways of earning money from the markets. While investing (and its forms) is one, trading, speculation etc. are also there. Don’t force yourself to be a ‘value investor’.
Without understanding what appeals to you, what you can identify with, if you decide to do something, results will not be optimum. Understand yourself, then decide. Not the other way round!
Value Investor, Be Aware Well, there you have it! These were some biases I think value investors face. I do not claim that all of these biases are undesirable and should be avoided. Some of them are very much desirable, depending on the kind of investor you are. But what is important is to recognize these biases, identify whether a bias exists in yourself, and watch and monitor it carefully.
Awareness of these is critical. See to it that it doesn’t cloud your decision-making process.
Cheers and happy (value) investing!
The post Outside the Box: The 9 Biases of Value Investors appeared first on Safal Niveshak.
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Outside the Box: The 9 Biases of Value Investors
Neeraj Marathe is a Pune-based investor, trying to practice value-based investing. He is a SEBI-registered Research Analyst. He has been teaching Security Analysis, Portfolio Management and Behavioural Finance in a few B-schools for the past 12 years.
Value investors are considered a class apart. They are thought to do things differently. They have their emotions under control. And they make fantastic returns over long periods of time.
We have ‘n’ number of examples to substantiate the same. Listen to Warren Buffett’s or Charlie Munger’s interviews vis-a-vis a broker’s or an analyst’s or a hedge fund manager’s, and you will agree.
Value investors are supposed to be well-aware of biases that commonly affect market participants and therefore they are supposed to be able to avoid them. But they are (mostly) humans, and thus suffer from most of all biases that get other investors into problems.
However, I got thinking as to, apart from the usual biases that affect all investors, what are the specific ones that affect the value guys.
My thoughts on this topic are based on observation of my own behaviour and thought-process and that of others whom I consider to be value-oriented investors and with whom I interact.
I agree that a specific value investor may not be prone to all the biases listed and also that there may be other biases out there affecting value investors. I would like to add that I am (and probably will be) very much a victim of some of the biases listed below.
So let me use this opportunity to try and take the mask off the value investing gang.
1. Absolute Cheapness Bias Followers of Ben Graham will especially understand what I am saying. Typically, value investors run screeners to find stocks that are quoting at absolute cheap valuations. Example – P/E ratio of less than 8 times etc.
Of course, it is just a starting point, but I have rarely seen investors of this breed being comfortable with P/E valuations of 30-40 times. Even value investors who take investing decisions exclusively based on a company’s business model and not just numbers like P/E ratio will flinch at the thought of a stock quoting at 40 times trailing earnings.
The flip side of this bias? There is a reason why some stocks are cheap. And they do tend to get cheaper. Adhering to absolute cheapness will cause one to miss some great, compounding businesses. In my opinion, cheapness has to be thought of in relative terms, not absolute.
2. Under-Researched Stock Bias A large number of hard-core value investors I know enjoy the process (of finding an opportunity) more than the result (profit). Everybody loves profit, of course!
But because of this inclination towards the process, a lot of value-oriented people are obsessed with trying to discover something new, trying to catch something that the market has not understood.
Therein lies their ‘kick’. A Maruti or an HDFC is no fun! As a result, value investors enjoy digging into annual reports of unknown companies, trying to find value.
The flip side of this bias? Such investors will miss a ‘well-covered’ stock, like a large-cap, which sometimes becomes a ‘sitter’ due to Mr. Market going bonkers.
More often than not, risk-adjusted returns in select ‘well-discovered’ companies are much better than the unknown, untested companies.
3. Conservatism Bias Value investors have a license to be conservative.
Lots of them can be also classified as pessimists. Of course, when a pessimist finds an attractive idea and loads up on it, the results could be fabulous. Obviously, this won’t happen very often, but that is okay. I feel 1-2 ideas in a year, in which you can load up is good enough.
The flip side of this bias? Lots of opportunity losses, because the ‘conservative’ value investor let it go; and selling the stock too early, because the ‘conservative’ value investor thought the stock has become ‘overvalued’ too early. Here, I think one has to be very mindful of crossing the line between conservatism and pessimism.
4. Do Nothing Bias I feel this is one bias behind which value investors hide when they are actually scared to act. It becomes nothing but a mental justification.
For instance, a value investor might be actually scared that the market will fall because of the debt crisis in Europe, unemployment in the US, interest rates in India, real estate in the Middle-East, fudged data in China, and due to there being too many craters on the moon. He might thus not buy a stock he thinks is really cheap, so that he can buy it lower when the market falls.
What he is actually doing is trying to time the market, but the mental justification to this is that “sometimes inaction is the best action.” This is a very very dangerous bias and often leads to confusion, incorrect decisions, and overall misery.
5. Bad Management Bias Without taking any names (for my protection), there are certain families or promoter groups in India that are considered to be ‘bad managements’ due to their past activities. If such facts are present, ignoring such companies makes sense.
Now I have to mention something, which happens a lot of times. When someone asks me to ignore a company because its management is bad, I usually ask for a reason for the same. Often, the answer is that vague, like ‘someone told me so’ or ‘it’s generally said that they are bad’. Rarely, people give sensible reasons why they think a particular management is bad. They just ‘think’ it’s bad, and that’s all.
Now, while there are certain business groups whose companies I won’t touch, having this in-toto mind block may sometimes lead to some really good opportunities being lost. The management might change, and a new generation might take over which is radically different. Keeping an open, alert, mind helps!
6. ‘Ignore the Macro’ Bias A lot of value investors I know take investment decisions based purely on valuations and not based on the macro scenario. This has its pitfalls too. For example, interest rates affect our discounting rates, and industry scenario will change our growth assumptions.
I personally am not very great at analyzing macro stuff, but totally ignoring macro happenings may lead to incorrect decisions. I think that a fine line is to be maintained here as per one’s inclination as well as the ability to understand and analyze the macroeconomic data.
7. Circle of Competence Bias We have heard Buffett and Munger often talk about the concept of circle of competence. It simply essentially means we must identify what we are good at and what we know, and also what we are not good at and what we don’t know. Then, we must stick to the former, i.e., what we are good at and what we know.
But some lazy value investors escape taking efforts by putting certain things under their “outside circle of competence” framework.
For example, I have a similar excuse when someone asks me about a pharma company. I simply tell them that I do not understand pharma. Now, what stops me to get off my behind, and learn about the pharma industry? Nothing! But I still haven’t done it.
So, this is a good justification for my laziness, right? Having a circle of competence is great, but not getting comfortable with it and trying to expand it is equally necessary.
8. ‘We Must Do Things Differently’ Bias I have experienced some value investors having this compulsion of doing things differently. They have this compulsiveness to be different all the time. I agree that being different is a good trait of a value investor, but being different, thinking differently and acting differently just for the heck of it doesn’t make sense.
The flip side of this bias? You will frustrate people you talk with and they might probably hit you on the head with something. On a serious note, such investors will make a simple straight-forward decision complicated and make a mess of things. It is not always necessary that things must be done differently. Re-inventing the wheel is often not necessary.
9. ‘I Must Be A Value Investor’ Bias Value investing has become quite a rage these days and it seems fashionable to be a value investor. While value investing as a concept is quite loosely defined, it’s surely the most abused. So many people I see first decide to be ‘value investors’ and then get into investing.
One must appreciate that there are different ways of earning money from the markets. While investing (and its forms) is one, trading, speculation etc. are also there. Don’t force yourself to be a ‘value investor’.
Without understanding what appeals to you, what you can identify with, if you decide to do something, results will not be optimum. Understand yourself, then decide. Not the other way round!
Value Investor, Be Aware Well, there you have it! These were some biases I think value investors face. I do not claim that all of these biases are undesirable and should be avoided. Some of them are very much desirable, depending on the kind of investor you are. But what is important is to recognize these biases, identify whether a bias exists in yourself, and watch and monitor it carefully.
Awareness of these is critical. See to it that it doesn’t cloud your decision-making process.
Cheers and happy (value) investing!
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