Must Reads of the Week – January 23, 2019

Must Reads of the Week

Our favorite reads of the week and the quotes that make them worthy…

“But I’m a firm believer in the idea that the longer you extend your time horizon, the better your chances are of having a positive experience in the markets. And my level of confidence is much higher for a diversified portfolio than any single asset class or strategy.”
Diversification is (Almost) Undefeated by Ben Carlson, CFA | A Wealth of Common Sense

“The ability to keep your head when others are losing theirs is a superpower. The world doesn’t always work the way you want to it. People will slight you. You’ll get fired. You’ll make mistakes. People who are smarter than you will compete for your job. And how you respond to all of this will make all the difference.
Samuel Andrews: The Man With the Billion Dollar Ego | Farnam Street

“I’m effectively playing a positive expected value game 40 times over my lifetime with my vacation money. I know I’ll lose sometimes, but on average I’ll win enough to make it worth it. Being zen about the downside cases might be one of my superpowers.”
How One Behavioral Scientist Optimizes His Monthly Cashflow by Dan Egan | Betterment

“We tend to ignore how often luck changes in our lives and end up extrapolating out our most recent experiences. This explains how one negative event can lead to fear and one positive event can lead to greed. The truth is usually somewhere in the middle, but people and markets don’t behave this way.”
Fickle Fortune by Nick Maggiulli | Of Dollars and Data

“That has led to a growing movement of theorists concerned about algorithmic accountability, of ensuring that we both understand how an algorithm makes a decision, and that the decision-making is legally non-discriminatory.”
How do you fight an algorithm you cannot see? by Danny Crichton | Tech Crunch

“Population growth alone, however, doesn’t guarantee growth unless the would-be workers have job skills. Another big draw for employers is Utah’s relatively well-educated labor pool, which has helped nurture a blossoming tech sector, much of it based in the “Silicon Slopes” area comprising Salt Lake City, Provo and Park City.”
Utah Shows How Labor-Force Growth Fuels Economic Growth by Sarah Chaney and Sharon Nunn | The Wall Street Journal

“If the algorithm can withstand these tests, Sohn thinks it could be employed when a neurologist sees a patient at a memory clinic as a predictive and diagnostic tool for Alzheimer’s disease, helping to get the patient the treatments they need sooner.”
Artificial Intelligence Can Detect Alzheimer’s Disease in Brain Scans Six Years Before a Diagnosis by Dana Smith | UCSF

“This is going to sound pretentious, but whatever: I think Ohashi’s routine is a radiant expression of what it means for a human being to be very, very good at something—and to want to share that with everyone. She projects a confidence that only great performers project, whether Olympic champions or concert pianists, that every eye is upon them. Instead of shirking from that, instead of getting rattled, Ohashi rushes toward the moment.” 
A Must-See Gymnast, and the Meaning of Joy by Jason Gay | The Wall Street Journal