As mentioned yesterday, I’ve not been writing lots, poetry or prose, due mostly in part to power learning investing in the stock market. It’s long, long overdue I should have done this and lost a lot of opportunities in not having done it earlier, if I had generally taken the “safe” route. Mind you, what I learned recently wasn’t easily, and possibly as nicely, available just several years ago, so I might have been disastrous at it for all I know. Hence, I won’t berate myself too much on the cost of my procrastination as lately as the winter of 2020 when I was going to do this, and ended up learning all the world art history available on Khan Academy. But now that I feel I have a good grasp of things, I’m going to write about it. Why? CERTAINLY NOT to give advice! That’s for sure! No. Why I’m going to be writing about it is from a Chinese philosophy near and dear to my heart, which says you don’t truly know something until you can teach it. Now, I’m not going to “teach” all of investing in this and future posts about investing. No. Far from it! There are great full courses online like Wall Street Survivor where you can get all the info. I’m just going to “teach” my approach, which pulls out the most essential information from all that craziness, and why it’s “good”. Hopefully, with time, I’ll also be able to prove it with data on my outcomes, because getting rich slowly isn’t hard. It’s only trying to get rich quickly that is. So let’s get started!
A couple of really interesting ideas in this podcast that I totally buy into.
The first is to get rid of tenure. This I had already concluded many years ago. It’s generally giving job security to people in the least productive stretch of their careers, then passing that on to students who’d have to pay more. The productivity statement is a generality, of course, meaning it applies to most, but not everyone. However, it’s the same problem governments face with inefficiencies due to the fact they are challenged to fire staff, especially unionized staff.
A related point is the increase of international students who pay the full tuition, huge increases in numbers in some schools. More and more international students are being let in not mostly for diversity’s sake, but for the cash they bring to the schools’ coffers, especially schools that get government funding that fails to meet their wants. That’s also been obvious to me. Having some international students is definitely good, of course, but we have enough diversity in our culture to keep our campuses diverse, if only we’d also remove some systemic barriers to admitting them. Now, whether those massive increases in international student numbers decrease seats to local or national students, or decrease education quality due to class size, the major benefit to huge numbers of international students is for the endowment funds of the schools, not to the students or campus quality.
The second is to tax post-secondary school endowment funds if seats available at those schools funds don’t grow proportionately to the fund growth. Simple argument is that those schools with endowment funds become a for profit entity rather than a not-for-profit because they are hoarding cash and/or spending it on extravagances rather than essentials.
Some other interesting topics regarding better measures for success are also discussed.