The Swedish Behavioural Economist

Author Archives: Ulf Löwenhav

We are so used to our surroundings that we do not appear to notice that the equity market has gradually lost its original function and turned into a non-scientific and highly unnatural bogus arrangement. It is of benefit only to the parasites being advisors and calling themselves “the market”. I confess to being a low-life parasite.


At the outset, entrepreneurs met investors in one-off arrangements. This worked well when a voyage to east India was being financed but it becomes unsuitable for long-term ventures like an on-going enterprise. The equity markets turned into stock exchanges and is now a digital and global animal. Along the way, the markets switched its focus from financing to the trading of shares in large companies, entities that does not need financing.

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All societies have their own specific culture and moral standing. In Sweden there is a terrible mill culture (Bruksmentalitet in Swedish). Corporates have their own morals and culture as well; usually relating back to the original entrepreneur.

IKEAWhen great entrepreneurial companies grow, they hire legal staff and build a HR-department and this is the tipping point; this is where the adaptability stops.

Today the IKEA founder (a young look-alike, think-alike) Ingvar Kamprad would not be hired by IKEA. The reason is simple: He is a free thinker. He does not fit in.

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Putting complicated matters in a numerical environment makes it easier to deal with. There is safety in numbers and although it feels really good you end up being making stupid decisions most of the time.


Ulf Hamburgare

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Our knowledge about the workings of the human mind has taken a gigantic leap forward over the last few decades. There is a growing body of evidence piling up, suggesting something that most of you will probably already know; human beings are not at all as rational as they would like to be.

To read more, please visit EQapital


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