Powerful sports cars

Philip Morgan

Matt Levine has god-like writing skill.Lately I've been dazzled with his ability to make the complex topic of finance interesting and funny on an almost daily basis. If you want to learn by immersion, subscribe to his Bloomberg newsletter: http://link.mail.bloombergbusiness.com/join/4wm/moneystuff-signupHe wrote two things that might be interesting to you.On risk-taking behavior, which is relevant because so many of our decisions are decisions about risk:

Imagine finding that minivan-driving hedge fund managers are reckless maniacs with their portfolios, while a McLaren is a sure sign of a steady conservative approach. You can’t, right? That’s not how cars, or hedge funds, or people, work. Of course the hedge fund managers who own powerful sports cars take more risk. And it is so satisfying to see it in the data.

From https://www.bloomberg.com/view/articles/2018-09-20/if-you-like-torque-you-ll-love-volatilityMaybe I should just ask my clients what kind of car they drive instead of doing a full risk assessment :)And this one had me LOLing:

Still, when you lend the $300 million, and you don’t get it back, and your bosses call you into a room to review the trade, and they are like “how did you not notice that this client was actually three beagles in a raincoat,” your platitudes about appropriate overall risk-taking will not impress them very much. Sure yes even if all of your trades are well-thought-out and have positive ex ante expected value, some will nonetheless default. But this one did default, and now it’s on you to argue counterfactually that it was a sensible risk to take on at the time. That is not a fun meeting.

From <Bankers Want to Do What Bankers Do - Bloomberg>Why do I point you to a finance newsletter? Isn't my list a list about specialization and lead generation and consulting?Yes, and many of you are technologists needing to connect and build trust with a business audience. Back in my days of writing for Microsoft, we called them BDM's. Business decision makers.Any examples of other technicians connecting with a less technical audience might be relevant and helpful, and Matt Levin's newsletter is, I think, a masterclass in doing that. Subscribe for a month and tell me what you think. Again: http://link.mail.bloombergbusiness.com/join/4wm/moneystuff-signupSeparately, I got lots of insider information on bidets from y'all. Thank you.Really, thank you. :)A Scandinavian bidet expert told me the water pressure of the Spanish bidets I encountered while in Spain definitely does not qualify as an power washer of butts. I am saddened, but will persist in mis-using the butt power washer terminology because I like it so much.Others, who grew up around these bidets relayed stories of playing in them as children. Fun! And kind of gross?Still others let me know that the drain plug in the Spanish bidet is there to let you draw a small butt-sized bath just for your butt and butt-adjacent parts.This article, generously shared by a list member, was great, and actually worth a read if you want to avoid my bidet ignorance on your next trip to Europe, The Land of Many Bidets: https://www.theatlantic.com/technology/archive/2018/03/the-bidets-revival/555770/Finally, I published an article of my own.It's called A Framework for Deciding How to Specialize. Boy, I'm going to get a tidal wave of search traffic from that article title! ?Anyway, in it I describe how I approach helping my clients and workshop participants decide how to specialize.Some of you can do this stuff on your own. Your intuition or naturally assertive decision making style will take you there—perhaps with some iteration along the way—without any outside help.This article is for the rest of you: /a-framework-for-deciding-how-to-specialize/Also, somehow this weekend--in between naps and in the midst of the purple haze of jet lag--I managed to record audio of me reading this article. Sort of like a mini audio book. I'll publish that tomorrow as a podcast episode on http://consultingpipelinepodcast.com and link you to it.The approach I describe in this article is the approach I use in /specialization-school/part-1-decision-making-workshop/. There's room in that workshop and a bit of time before the early bird discount expires, so hit REPLY if you'd like to join.-PUpdate: Some dude on the internet going by the handle of Toilet Seat Guru asked me if I would link from this article to his site to help him play the Google SEO game. I figured, why not? Life's been good to me, I can do a random internet Toilet Seat Guru guy a solid! http://projectforhome.com/how-to-use-a-bidet-toilet-seat/