On this day in history, December 4th, 1907, Well-known psychiatrist W.H. Rivers presents his report The Repression of War Experience, based on his work at the Craiglockhart War Hospital for Neurasthenic Officers, to the Royal School of Medicine, on this day in 1917. Craiglockhart, near Edinburgh, was one of the most famous hospitals used to treat soldiers who suffered from psychological traumas as a result of their service on the battlefield.
By the end of World War I, the army had been forced to deal with 80,000 cases of “shell shock,” a term first used in 1917 by a medical officer named Charles Myers to describe the physical damage done to soldiers on the front lines during exposure to heavy bombardment. It soon became clear, however, that the various symptoms of shell shock, including debilitating anxiety, persistent nightmares, and physical afflictions ranging from diarrhea to loss of sight were appearing even in soldiers who had never been directly under bombardment, and the meaning of the term was broadened to include not only the physical but the psychological effects produced by the experience of combat.
Huh, you learn something new every Friday.
Economic Data Today:
News of the Day:
U.S. job growth slows sharply; long-term unemployment rises – https://www.reuters.com/article/us-usa-economy/u-s-job-growth-slows-sharply-long-term-unemployment-rises-idUSKBN28E0IB
Stimulus hopes power S&P 500 to record high – https://www.reuters.com/article/usa-stocks/stimulus-hopes-power-sp-500-to-record-high-idUSKBN28E1IV?il=0
U.S. infections soar amid deadliest three-day stretch of the pandemic – https://www.washingtonpost.com/nation/2020/12/04/coronavirus-covid-live-updates-us/
Plane makes emergency landing on US highway – https://www.bbc.com/news/av/world-us-canada-55184326
Nasa to pay company $1 to collect rocks from moon – https://www.bbc.com/news/business-55170788
Other News & Blogs:
Check this out!! – Investor Amnesia Historical Resources – https://investoramnesia.com/2020/09/25/traveling-back-in-time-historical-resources/
Tweeter thread about Direct Indexing – https://twitter.com/patrick_oshag/status/1334885607924002818?s=20
The Irrelevant Investor – The Biggest S&P 500 Addition Ever – https://theirrelevantinvestor.com/2020/12/02/the-biggest-sp-500-addition-ever/
Weekend Podcast Recommendations:
Animal Spirits, Talk Your Book – Direct Indexing – https://open.spotify.com/episode/3qJnL3zYBCJrYOlBK6ANTD?si=Svi4wWZiQuS7cIgD8xjGKA
Throwback! (Video) – The Psychology of Human Misjudgment by Charlie Munger – https://www.youtube.com/watch?v=pqzcCfUglws
Invest like the Best – How Government Works – https://open.spotify.com/episode/4Ov0prCxtswONNDBp1gej6?si=A4vCHZtiQtOXT4Lln6_2Ng
No Stupid Questions – Do checklists Make People Stupid? – https://open.spotify.com/episode/6u39BGZ6iYcu8bjdBQMKNU?si=2wKq6hXrRTqJS1srnY3qDA
Animal Spirits, Talk Your Book – Investing in Bitcoin – https://open.spotify.com/episode/3F9367NtJhkK0aTs6bPJiJ?si=t081b1IYTW2YXhlGVVhONA
End all taxes and buy bitcoin.