March 3rd, 2020

Key Takeaways

  • Probability of rare events (Black Swans) is impossible to predict
  • Only seeing white swans does not disprove the existence of black swans.
  • Instead, focus on preparing for consequences rather than try to predict/time probability


If there is one thing I have learned through studying economics and social human behavior, it’s that we do not like uncertainty.

So much so that experts in nearly every field will consistently produce forecasts about the future and build complex narratives or models to make sense of this randomness in life.

Cited as one of the most influential books ever…

For years I’ve thought that the way to truly be successful and influential in your field(s) was to specialize — experts would always best Jack of all trades, masters of none.

Yet I quickly realized I had so many interests, genuine passions, for so many different fields that didn’t necessarily coordinate well together.

In high school, I’d be deeply interested in chemistry and math classes and how the world worked, my favorite class still was acting, and yet I received the top English award.

After class, I’d balance basketball practice with musical theatre rehearsals and violin orchestra practice. I constantly…

Climate change has finally become trendy.

A recent Yale poll indicated that 73% of Americans accept that global warming is happening, and 72% now say global warming is personally important to them—the highest values since the polls began in 2008. However, no positive result is without triviality, as a University of Chicago survey further revealed that only 53% of Americans would pay at least $1 per month to combat climate change, illustrating the significant dichotomy between rhetoric and action.

It's easy to talk the talk, but we aren't too great at walking the walk.

This dichotomy is what economists call…

Originally published on Down to Finance, February 4th, 2020

The fact of the matter is, when you want to invest in truly innovative and industry-disruptive technology, you will most likely be drawn to companies with valuations that don’t necessarily make fundamental sense. Instead, we invest to change the world.

In the past year, we’ve seen Tesla (TSLA) stock dip to nearly $170/share in June 2019, to exploding now to $880/share as I write this (Feb. 4, 2020). …

Happy Thanksgiving to those that celebrated last week.

Black Friday/Cyber Monday also recently passed us, and I’d be lying if I said I didn’t do a little bit of personal shopping.

As much as I enjoy clicking the ‘add to cart’ button on those new deck of playing cards or limited edition basketball shoes, I also am very conscious about the economics and particularly the psychology of consumerism, and that’s what I want to talk about today.

Conspicuous spending

Conspicuous spending is defined as the purchase of goods and services primarily for showcasing one’s status and economic wealth to society. …

Photo by DAVIDCOHEN on Unsplash

[Daily Blog Post #601]

It’s easy to be a critic

It’s easy to be negative

When society sees someone going down the road less traveled, or going along a road that’s never been traveled, our instinct is to condemn the individual for being irrational

But realism and optimism are not polar opposites

In fact, a realistic optimist is the best type of person

They see an opportunity, and instead of simply dreaming about the potential, they actively take steps towards realizing that opportunity

But when someone is too optimistic, they are condemned, or criticized, or surrounded by negativity

Extreme optimism…

The History of Hong Kong as a British colony dates back to the first opium wars. But in 1997, Hong Kong was handed by to China under the “One Country Two Systems” declaration that would allow Hong Kong to remain independent from Beijing until 2047. However, it is 2019, and China doesn’t want to wait until then.

If you’ve followed the news, you’ll know that in the past few months, we’ve seen several demonstrations by Hong Kong people in opposition of a recent China Extradition Bill that would give Beijing more power over Hong Kong people, who see this Bill…

On June 16th, over 2 million of the 7.3 million Hong Kong population turned out in demonstration against the China Extradition bill as well as the recent police brutality during previous demonstrations, a day after Carrie Lam, Hong Kong’s Chief Executive, placed a pause on the passage of the bill. That ratio is crazy: 2/7. I cannot even imagine 100 million Americans showing up to protest something.

In the month of June 2019, there were 7 demonstrations held by Hong Kong residents in opposition to the China Extradition Bill.

But this article isn’t about the specific protests about the bill…

In 1973, the U.S. Supreme Court re-established the right to legal abortion in every state in a landmark decision in Roe V. Wade. Every woman now had the right to choose whether or not to have an abortion within the first two trimesters (up to 28 weeks).

Don’t be in a rush

My first advice is this:

if you are in college, you are probably anywhere from the age of 18–22.

Now imagine this. If you are 20, you could do NOTHING right, and fail at everything you try for the next 10 YEARS. And you’d still be young

So don’t be in a rush.

Next, Find the variance.

I dropped my double major in the business school and opted to pick up a Philosophy major in the College of Liberal Arts near the end of my sophomore year.

Actually, it’s not officially declared, but I intend…

Jeff Wang

Hi. My name Jeff, and I write about my personal life as well as business & finance-related content. I am a magician, student, writer, reader, overthinker.

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