- I’m not sure through which rabbit-hole I stumbled upon the first link, an anecdote about someone whose code only crashed on Wednesdays, but I really liked it.
…if you dig deep enough; that “unrelated” errors rarely are; and that it’s almost certainly your own damn fault.
- Why the 1% earn so much – from Brookings: one aspect that the article addresses is really picking up steam, people are starting to look at the distortionary effects of barriers to entry in different fields (medicine, law, etc.) and seeing how that creates a world where we have to greatly incentivize people (e.g., with large incomes or prestige) to overcome those barriers. It also limits the number of people who can engage in that job — instead of having 50 doctors, 50 nurse practitioners and 100 nurses, we end up with 75 doctors and 100 nurses.
- Great article from Kitces on rebalancing via either time intervals or ‘variance bands’: it seems obvious that variance bands would outperform the relatively capricious timings of regular rebalances, though there are some surprises, including the outperformance of annual rebalancing versus shorter intervals (see below).
- Myers’ Race Car: A rebuttal from Scott Alexander. Great contrarian piece here, really interesting links between intelligence and all of the other generally desirable traits.
What are the sorts of things we might trade off against intelligence? Perhaps fitness, height, attractiveness, health, longevity, social well-adjustedness?
But in fact none of these trade off against intelligence, many are strongly positively associated with it, and in some the link has been proven genetic!
- Scott Sumner addresses the now oft-quoted statistic that the IMF has failed to predict 220 out of the 220 previous recessions: he also argues that the stock market is neither a leading nor lagging indicator, but that it is coincident, something that I agree with.
Book section:
I finished Dune Messiah, the second book and follow-up to Dune. As it seems is pretty much the norm, the book was okay, but not nearly the amazing piece of work that the original was. I’ll probably finish up with the third book and put the series down for a while.
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