Whenever you play a game, there are different phases. The way you play in the beginning is different than how you play in the middle and the end.
In chess, these phases are even given names – opening, the middle game, and the end game. In the opening, you want to develop your piece (move them from their initial spots). In the middle game, your pieces should be out and you should now be positioning them into ideal squares and finding tactical opportunities. The end game is really about preparation and how much you’ve studied various positions.
Not everyone plays chess but you’ve probably played Monopoly, right? In the beginning, you try to acquire all the properties you land on. Eventually, you need to trade up for monopolies so you can build houses. Houses are a limited commodity so it turns out the ideal strategy is to buy up four houses per property and not move up to hotels because then your opponents can’t build houses!
So the strategy changes as the game progresses… but the rules don’t.
In life, the rules can change as you play the game. It’s frustrating and it feels unfair but that’s life.
Today’s articles are all about how the rules can change on you.
How to Get Out of The Box [The Financial Graduate] – “Grad school sucks. At least it did for me. On the day of my defence I stood in front of a committee of professors whose job it was to challenge every aspect of my thesis. […] I really don’t remember much from this experience, except for one critique. It came from a professor of computer science who, many may argue, is kind of a ‘big deal.’ After several rounds of reasonable questions and comments this professor suggested that I learn to think ‘out of the box.'” Schooling is very much like a train on a single track until it isn’t. For the Financial Graduate, everything was on the tracks until it wasn’t. A good discussion on how to get out of the box.
Most Americans go to college in the hopes of a secure financial future. Many don’t get it [CNBC] – “… half of the country’s schools in 2018 left the majority of their former students earning less than $28,000 a year, which is what the typical high school graduate makes. The finding comes from a new report by Third Way, a think tank in Washington, D.C.” A college degree used to be a huge differentiator among job candidates but today a degree doesn’t provide as big of an advantage, and in many cases, certainly not at the cost of massive student loans.
Requiem for a Sports Bettor [The Ringer] – “Gambling on sports has never been more high-stakes or more accessible. But with the invasion of Europe-based companies in the game, the pros are feeling squeezed and routinely getting banned from plying their trade. Is this the end of the professional sports bettor?” If you’re too good at gambling/winning, casinos will kick you out!