November 2024 Roundup: What I am Reading, Watching and Listening To
What I Am Reading:
My colleague Nick Maggiulli talks about this topic a lot on his blog and on social media and I brought it up during a recent podcast interview: Nothing about your asset allocation is going to move the needle the way your career will. There is very little reason for anyone in their 20’s to be concerning themselves with the intricacies of portfolio management if they don’t have their work situation figured out. Because the difference between reaching peak earnings of $250,000 and $750,000 ten years from now is going to have a major impact on where you can live, what you can drive, how much you can save for the educations of your children, what sort of vacations you’re taking and whether or not your spouse will need to work full-time, part-time or not at all.
Watch water form out of thin air
For the first time ever, researchers have witnessed — in real time and at the molecular-scale — hydrogen and oxygen atoms merge to form tiny, nano-sized bubbles of water.
We’re Entering Uncharted Territory for Math
Terence Tao, a mathematics professor at UCLA, is a real-life superintelligence. The “Mozart of Math,” as he is sometimes called, is widely considered the world’s greatest living mathematician. He has won numerous awards, including the equivalent of a Nobel Prize for mathematics, for his advances and proofs. Right now, AI is nowhere close to his level.
Wisdom is a Virtue, But How Do We Know if Someone Has It?
Our team explored who is considered wise in cultures with contrasting philosophical traditions. The results surprised us Imagine you’re facing a life-altering decision. You have been offered a once-in-a-lifetime job opportunity abroad, but it means leaving behind your partner who can’t relocate. Torn between your career aspirations and your commitment to the relationship, you start wondering what the wisest way would be to make such a decision. Should you approach the dilemma with a cold mind and weigh all the pros and cons in an analytical and logical manner, or would it be wiser to tune into your feelings and make a decision in line with your heart? Moreover, which one of these ways to handle the dilemma would your friends and family perceive as wise?
What I am Watching:
How to Think About Risk with Howard Marks
Oaktree co-chairman Howard Marks explores the true meaning of risk in a new ten-part video course. He discusses the nature of risk, the relationship between risk and return, misconceptions about risk, and much more.
We take it for granted that thinking helps us to understand the world and make good decisions. And to think is to reason. But there is a risk this is not the whole story. Studies into flow states where individuals are single mindedly focussed on a single task, without self reflection or reasoning, have identified that less deliberation rather than more leads to better performance.
A McKinsey study of top executives found them to be five times more productive and better decision makers when in such states. While researchers have also shown that scientists rely as much on 'tacit skills' and experience as on logical thought. Should we abandon our focus on reasoning as the best means to determine action? Should we give priority to practical experience over theory, and body over mind? Or at a time when public debate is ever more divisive, is it essential we double down on rational thought to rule out mistaken and dangerous proposals?
What I am Listening To:
No one understands the moral urgency of this moment better than my friend and guest today, Douglas Murray. Douglas Murray isn’t Jewish. He has no Israeli family members. And yet it is Douglas Murray who understands the stakes of this war and the moral clarity that it requires. Douglas’s work as a reporter has taken him to Iraq, North Korea, northern Nigeria, Ukraine, and most recently, to Israel. Douglas remained in Israel for months as he reported back with clarity, truth, and conviction. Douglas is the best-selling author of seven books, and is a regular contributor at the New York Post, the National Review, and here at The Free Press, where he writes our beloved Sunday column: “Things Worth Remembering.”