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Rules of thumb are trash

Go look up the purported origins of the phrase “rule of thumb” – and you will know why I look upon that rule and others with such contempt.

Julien & Kiersten agree:

Why financial rules of thumb are trash [Rich and Regular] – “After the last few years of blogging regularly, entrenching ourselves in books, videos, documentaries, podcasts and all things money, if I hear another financial jargon laced rule of thumb based on averages or medians, while disregarding the personal side of personal finance, I might morph into Uncle Sam. Our Uncle Sam… not the meth-addicted Santa looking dude ya’ll made up.”

The rise of the financial machines [The Economist] – “Funds run by computers that follow rules set by humans account for 35% of America’s stockmarket, 60% of institutional equity assets and 60% of trading activity. New artificial-intelligence programs are also writing their own investing rules, in ways their human masters only partly understand.” If you thought Skynet would show up with guns, you will be mistaken.

She Won Athletes’ Hearts. And Robbed Them Blind [Sports Illustrated] – “The same people who years ago entrusted her with millions—from Ricky Williams to Dennis Rodman to Travis Best—wince today at the mention of her name. They’ll tell you how she left them broke. How she’s a “chameleon ghost witch.” How she’s a forgery of the American Dream. And every athlete’s worst nightmare.” Just WOW. This isn’t a “bad business deal” type of scam, this was straight-up robbery.

And check out this piece to leave you with a smile on your face!

I want to be as pleased with myself as that guy!