Reread: The Things They Carried

I first read The Things They Carried right after high school. As a soon to be conscript, the book struck a deep chord in me in a way none of the books that were assigned in school as "literature" ever did. The book was so raw, so filled with reality while acknowledging that some stories cannot be told correctly, no matter how many times the author circles back to his material, that it spoke to me in a way that no mere novel could provide. Over the years, I've given away so many copies of the book that I've lost count, and over several moves, I've never managed to recover any of my personal copies. When the Amazon Matchbook program listed this book for me at $2.99, I jumped on it so that I could have my very own copy, which cannot be given away or lost as long as Amazon stays around.

Many books lose their power over you as you age. The intensity of emotion that I had as a youth has no parallel in me today, but this book brings back those memories in ways that even reading my own writing from 20 years ago cannot. O'Brien brings home the nastiness of being a soldier in South East Asia, where even the weather and climate will bury you despite all the technology at your disposal (though remembering that the war was fought in the 60s, there wasn't actually that much technology).

What strikes me the hardest this time around, however, is the lack of fulfillment you sense in O'Brien throughout the novel. It's palpable in the way he retells the stories over and over again, sometimes from a different angle, sometimes in the same way but in a different context, and other times to make a completely different point. Together, the stories in this book form a mosaic that lets you get at the essence of the truth in O'Brien's past and his trauma, and explains why 20 years later, he is still telling these stories.

One of the big differences between the USA of today and the USA of Vietnam is that since switching to an all-volunteer army, the gulf between the elite and the soldiers who fight on behalf of the country are wider than before. As a result, books like this are more important than ever. I highly recommend this book, but more importantly, if you're a US citizen or green card holder, you need to read this book:

‘’If you don’t care for obscenity, you don’t care for the truth; if you don’t care for the truth, watch how you vote. Send guys to war, they come home talking dirty.’’

Review: Uncharted - Golden Abyss

If I had any doubts that my purchase of a Playstation Vita would be a waste, Golden Abyss has dispelled them. Despite my having owned a Playstation 3 for several years, I had somehow avoided playing any of the Uncharted games on that console, and now I regret not having done so, especially since Golden Abyss is frequently cited as the weakest of the series.

The gameplay is basically that of a platform shooting game translated into 3D. Nathan Drake, the protagonist, jumps, climbs and bounces around levels as though he was in a Mario game, but rather than jumping on his enemies to dispel them like the plumber, he acquires and uses a variety of weapons and shoots at enemies via cover. There are also several puzzles, none of which are particularly challenging intellectually, but do break up the flow of the game so that it's not a series of action sequences.

The graphics behind this game is gorgeous. There are many times when I'd be traversing a canyon, a cave, or some set piece, and I'd want to stop just to rotate the view and enjoy the scenery. The colors pop, and the scenery is well put together and real.

What blew my mind, however, was how well the game used all the features of the Vita. The most compelling section came when the characters came across a blank piece of paper. You're asked to hold up the paper to a light, and sure enough, when you hold the Vita up against a light bulb, letters appeared on the parchment in a slow reveal. This is a cool use of the rear camera, and gave me a feeling of "wow" that none of the other games I've played on real game consoles have provided. When you're asked to do a charcoal drawing, you actually use your fingers to rub against the touch screen. Very sweet. When you're asked to take a photograph, you can hold your Vita just like a real camera, and control how you snap pictures that way. Not all the interfaces were as smooth as that particular piece. For instance, using the touch screen for hand-to-hand combat felt like a miss compared to using the physical buttons. Using the rear touch sensor for holding and rotating an object didn't feel natural, and neither did using the gyroscope to control a sniper rifle. Fortunately, most of the time you could also use the joysticks (which are a delight to use).

The story is well put together, and it's worth reading Bend Studio's post-mortem on the game to see what tweaks and changes they had to make in order to make the female lead likable to most players. Unfortunately, as with all games of this type, the story usually has you feeling like you're on rails. For instance, there's a scene in the game where Drake is hiding behind a pillar watching one of the villains have a conversation with a lackey. There's no PC in D&D history that wouldn't just take a headshot at the villain there and then and save himself a lot of trouble later. But this being a computer game that's on rails, the game takes control away from you for that scene, which might not be frustrating if you're used to the game doing so, but for me, just jarred me out of the immersion mode that the game otherwise worked so hard to put me into.

The game's difficulty setting on Easy (I didn't use "Very Easy") was perfect for an out-of-touch gamer. I died often, but not so often as to become frustrated, and in general I had a lot of fun.

In any case, playing this game made me immediately go out and download Uncharted 3 to my PS 3 (it's a free game this month on Playstation Plus). I doubt if I'll get through that game as quickly as this one, because having something on the Vita makes it so much easier for me to sneak in 15 minutes of gaming here and there when I have time, rather having to be at home and having to power up the TV the console and taking over the living room.

In any case, Golden Abyss is highly recommended and I definitely felt like I got my money's worth from the Vita just based on this game.

The Only Reason to Buy Individual Stocks

I recently wrote about why I no longer buy individual stocks. I will now detail my one exception to this rule. If I was working at Google, Facebook, or owned large amounts of those stocks that I couldn't or didn't want to divest myself of (very common in the case of RSUs that aren't vested), then this is what you need to do.

For the rest of your portfolio, when you're buying indices, you can custom construct an index such that those individual stocks are left out. While it only makes sense to do this if your portfolio exceeds a certain amount, the net result is that your overall portfolio is better balanced because you don't have to own Google again, for instance, both in the index and in individual holdings.

What's the portfolio level at which this makes sense? At one point, the only solution was Parametric Portfolio Associates, at a minimum of $5M. However, today, Wealthfront has dramatically lowered the entry level to $500,000. Once you've got such a custom index built, as Wealthfront has detailed, you can now do tax-loss harvesting at an individual level, bringing your tax loss harvesting potential up even further. This is a huge incentive for high networth individuals to use Wealthfront, as their fees are substantially lower than Parametric's, for instance. In fact, once you build a custom index, you no longer have to pay Vanguard's management fee, for instance, so Wealthfront's equivalent portfolio costs come close to Vanguard, and the additional tax-loss harvesting delta will tip the edge in Wealthfront's favor.

In How to Interview a Financial Advisor, I explain why most Googlers who were offered the opportunity turned down Parametric's offer. The problem is that if you fire Parametric, now you're stuck with a portfolio of 499 individuals stocks, and now you have to either manage that portfolio yourself, or find someone willing to do it for you. As you can imagine, unless you're about to write your own software to do this, that effectively makes Parametric/Wealthfront a roach motel, where you can always check in, but you can never leave.

When I spoke with Wealthfront about this latest feature, I proposed a solution to this issue. It's very much technically feasible, and I look forward to seeing if Wealthfront will implement it. The nice thing about being a Silicon Valley startup is that they can move forward far faster than the stodgy banks on Wall Street used to big fat margins.

As for myself? I will continue to move more assets over to Wealthfront as they free up elsewhere. The additional bonuses from what they're doing at higher asset levels is just too much even for this DIYer to pass up.

How to Interview A Financial Advisor now out in paperback

My latest book, How to Interview a Financial Advisor is now out in paperback. For this book, I'm enrolling in the Matchbook program, which means that for $2.99, you can get the digital copy of the book as well as the paperback if you buy the paperback. I loved the Matchbook program, and I was happy to sign up this bookf or it, both as an experiment and also because I feel it's a great way to provide a discount: buy a copy for your friend, and keep a copy for yourself!

Review: Fables #17 and #18

I was so disappointed with Fables #16 that I didn't bother reading the books at all last year. I finally picked up Inherit the Wind and Cubs in Toyland this year and read them through in a couple of nights. This part of the story involves Snow White and Bigby Wolf's family. They grapple with the loss of the North Wind and the selection of the future god of winds from the young wolflings.

Inherit the Wind is easily one of the weakest volumes in the series thus far. There's a lot of distraction, and the graphic novel tries to set up yet another long-running plotline as part of the side story, leading to the main story suffering from both neglect and no small amount of ennui.

Cubs in Toyland is a much stronger work. We see the fate of two of the Bigby's Scions, as they grapple with being transported to a fantastic new world with a hidden, deadly secret. The problem with the resolution of this story is that while it's shocking, it's impact is mostly on characters we're not invested in, so that dilutes the impact. The story is also a bit derivative, with the newness focused on the world Willingham's created just for this story, and the world is too simple for us to also derive much satisfaction from it.

The volume closes with a final story about Bigby Wolf, which does bring back Willingham's original story telling powers. It's a great short story, and I wish the rest of the work was like it. If not for this last section, I would have said that Willingham should have ended the series with the end of the first arc. Recommended, but only for people who have read the rest of the series. Otherwise, start at the beginning.

Review: Amazon Playstation Vita Holiday Bundle

It's not a secret that in recent years, the iPad and other tablets have become the most ubiquitous video game platform. However, the games for the platform are pretty sad. Much of this has to do with the touch interface: there are precious few games that can do it justice.  So far, Space Station Frontier and Strikefleet Omega are the only two games that I think use the touch interface for maximum effect and fun game play. Most of the other games are either marred by extensive in-app purchasing business models or just absolutely terrible UI. For instance, The Dark Knight Rises uses a touch-based joystick and it's pathetically unplayable. Even Clash of Heroes, which is a port from the Nintendo DS suffers from playability problems due to the touch interface.  One would think that the tower-defense genre would be perfect for the touch interface, but even then, none of the games I've tried come close to Defense Grid.

The net result is that for an immersive experience, I have to play on a PC or game console. Yet both of these are relatively heavyweight operations. For instance, the PS3 lives in the living room, and the gorgeous experience does mean that it takes up everyone's attention while it's on. The PC obviously requires boot up time, and while it provides a nice interface, it's still a little less satisfying than the dedicated game consoles. And the biggest defect is that when on the PC, I feel guilty about doing anything other than working on the next book!

Amazon has an exclusive holiday bundle for the PS Vita bundled with a small memory card and 3 games, so I picked it up. One reason to pick up a PS Vita this year as opposed to waiting for yet another price drop is that next year, the Vita will lose its OLED screen and switch to an LCD screen instead.

After unboxing the unit, I downloaded Uncharted Golden Abyss, and started playing. It's a beautiful experience. The screen disappears from the unit, and the controls are responsive and quick. While not a full-screen movie experience Drake's Deception is on the PS3, it's was for me an incredible hook and motivated me to download Drake's Deception on the living room console after getting started on Golden Abyss. If you're used to tablet games, the games on the PS Vita are a revelation. For one thing, there's no in-app purchasing, in-game advertising, cross-promotions for other products, etc. You paid for the game, you get to play. It's great. And unlike even PS3 games, there's no constant need to download patches, new content, etc. (I was shocked that Drake's Deception after a 40GB download, required another 500MB patch to start) The interface is intuitive, though some are gimmicky (in particular, melee combat using the touch screen is as pathetic as it would be on a tablet).

One of the best deals in gaming is the Playstation Plus membership. If you get in on the holiday deals, this is about $30/year for effectively 2-3 free games every month on all your platforms (PS 3, PS 4 -- currently out of stock online, PS Vita).  During the holiday season, Sony's promising a free game a week. For a  light gamer, this is more games than you'll use, and is an outstanding deal, even if many of the games would not be to your taste.

The PS Vita can also act as a remote gaming console for your PS3. I tried this on Shadow of the Colossus, and it's an impressive piece of work, streaming audio/video to the Vita from the PS3. There aren't that many games that support PS Vita remote play for the PS 3, but if you do upgrade to the PS 4, the story is that Sony has required that all games on that platform support the Vita.

The best way for me to describe the Vita is that it's like a Kindle for video games. Video games are a lot like books in that the time it takes to finish reading one is substantial, and for adults with children, the only way to consume them is in sips rather than binges. In that sense, an instant-on, always available device that lets you get in a few minutes here and there makes it well worth the entry price. Recommended.

Review: MSI Radeon HD 7870 2GB Video Graphics Card

The best thing about being a PC owner is that you can actually upgrade your hardware. In the old days, this didn't matter much, because CPUs/motherboards were getting so much faster year after year that within 3 years it was time to retire the old motherboard and buy a whole new machine. In recent years, that has changed.

For instance, for video games, the bottleneck is no longer the CPU. 2009's Intel i920 quad core processors are about half the performance of the latest Haswell machines, but that's still plenty of power to drive any video game. The bottleneck is the GPU. While CPUs have gone faster by only about 100%, GPUs have sped up by about 200% over the same time period. The reason for this is that GPUs are extremely parallel machines, and therefore process improvements from 40nm to 28nm enable that many more parallel computations simply through replication.

A recent sale got me to buy the MSI Radeon 7870. The way you shop for a GPU is to visit Tom Hardware's Graphics Card Performance Hiearchy Chart. They recommend not upgrading if the proposed upgrade is less than 3 levels above your current hardware. Since I'm not as enthusiastic as they are, I waited until the sales generated upgrades 6 tiers above the old Radeon 4850 that came with my machine.

Replacing the hardware was both straightforward and annoying. The straightforward part is ripping the old card out. Some idiot at HP thought he was working at Apple and zip-tied the graphics card to the motherboard, giving me conniptions until I noticed the tiny zip-tie. One snip with a pair of scissors and it was gone. The next level of annoyance came when I realized that the new card came with 2 mini-display port outputs, 1 HDMI output, and 1 DVI output. My old setup depended on 2 DVI outs. OK, no problem, one of my monitors has one of the new-fangled display port inputs. I duly bought a 3m display port cable and plugged in to discover that it didn't work. Then I read the Display Port FAQ and realized that display port is unreliable over 2m cables for high resolution displays. So I returned the display port cable, and bought a mini display port to DVI cable. Note that this only works for lower resolution displays that don't need a dual DVI input, but fortunately, my secondary display was one of those.

So now I can play Arkham City at 1440p with detail level set to "high" and never drop below 30fps. I tried overclocking the GPU, but had one glitch during a game, so I'll hold off on doing that for now. If you don't run high resolution screens like I do, you probably can get 40-50fps without problems, but then you probably wouldn't ever get the urge to upgrade the GPU on your machine, either.

All in all, it was a bit of a hassle but I think the upgrade was worth it. Recommended.

First Impressions: Dell Venue 8 Pro

I gave my wife a Dell Venue 8 Pro for her birthday. Last year, she got a Nexus 10, but she found that the 10" form factor led to it not getting used much, and Bowen ended up being the primary user of the device instead. As a result, she asked for a smaller device. While I've been pleased with the Nexus 7, all the indications are that the latest Intel Bay Trail processors run circles around their ARM equivalents, so I took a leap of faith and bought the Dell when it became available for $230. If you shop around on Black Friday I'm sure you can find similar deals for this device.

The best thing about the Dell is that it's a Windows box.  That means, for instance, that I can back it up using the Windows Home Server that I use for backing up other PCs. This is a great feature, since the default Nexus/Google tablet backup doesn't seem to back up as much as it ought to. (Switching devices, for instance, usually means a massive reinstall of Amazon stuff)

Unlike Google, Dell doesn't suffer from as much Apple envy. As a result we get a microSD card slot. What this means is that even though I bought a 32GB device, an additional 32GB costs only $18, with the prospect of very cheap upgrades to 64GB and 128GB storage options in the future. This type of future proofing means that the additional $5 premium over the latest generation Nexus 7 is well worth it.

On top of that, the Dell device comes with a full license of Microsoft Office, and can run any of the applications that a regular Windows machine can. That means the contortions I used to get the Nexus 7 into a partially decent photo-editing tool are obsolete: I can just run Lightroom! Or Picasa. None of those have Android equivalents, and it truly is amazing to have them available in this form factor.

The device is fast! After using it as a web-browser during Black Friday to do some online shopping, the Nexus 7 feels slow. What this means is that while buying from Amazon is straightforward on the Nexus 7, any other site (such as Newegg) is agonizing. The Dell, however, feels just like my desktop. Everything behaves like it should, and pages load fast and snappily.

What's more, Windows 8.1 really does make use of all the power of the device. For instance, I wife discovered she could run two "metro" apps side by side. That's a power-user feature, but she found out about it quite naturally by simply playing with the device. And of course, Windows has had multi-user support for ages, so everything works like you expect. For instance, installing Chrome for one user automatically installs it for all  users as long as you use administrator privileges to do so.

There are cons to the device: Windows 8.1 is not quite fully adapted to the world of touch devices. So for instance, at times, the on-screen keyboard will block the input field that you're entering into. That's annoying. Unlocking requires typing in a password instead of using gestures or a pin. That's potentially a security hole if you use it on a plane and share the same password as on your regular desktop, which Microsoft encourages because you're supposed to login using your hotmail account.

At 1280x800, the Venue 8 Pro has pretty much the same resolution as last year's Nexus 7, instead of the new 1920x1200 that the Nexus 7 spots. The reality though is that if you need to pop to the desktop for any amount of time, the lower resolution means your fingers aren't as fat. So that's not as big an issue as you might imagine.

And of course, there's not the rich ecosystem of "apps" on the Windows 8 store. But who cares? Since you're running full Windows with a real web-browser, applications like Amazon Instant Video which aren't available on the Google Play store can simply be run on the device like a native PC. Anybody who faults this device for the lack of apps simply doesn't understand that it's a real PC, not a tablet.

All in all, this device is the tablet that Microsoft should have launched last year, instead of foisting Surface RT on us. It's as cheap as an Android tablet, but has much much more functionality. Highly recommended.

PSA: 30% off any printed book at Amazon (Expires Dec 1st)

Until December 1st, if you enter the coupon code BOOKDEAL while buying any printed book at Amazon.com, you get 30% off the highest price book. The blatant self-promoter in me obviously wants you to buy any or all of my books, but another high priced item would be The Complete Calvin and Hobbes. Amazon says that that collection normally requires a shipping charge but gets free shipping today. There's an upper limit of $10 for the discount, so the $50 collection would still cost you $40.

Note that to qualify, the books must be on paper, rather than in electronic format, so unfortunately, Kindle versions of my book don't qualify for this deal.

College Savings

If you're an immigrant like I am, the American college financial aid system looks completely bonkers. Those of us from Asia, which has a more or less egalitarian elementary, middle, and high school education system roll our eyes about the "need-based" financial aid system. Most of Asia runs on merit-based system, because none of the insanity about property-taxed based local schools exist there. The property-tax based school system in the U.S. ensures that the poor remain poor, without much opportunity to qualify for higher education.

That being what it is, if you're a relatively high earner in Silicon Valley, it means that you do have to consider financial planning an essential part of preparing your child for college. Schools like to brag that 50% of their students receive some form of financial aid, which means that the other 50% essentially pay for college out-of-pocket in one form of another. Colleges also frequently include student loans as part of their financial aid packages, and I don't know about you, but I consider loans not "aid", but rather indentured servitude.

The first rule of financial planning for college is to fund your retirement accounts first! This is important because parental assets that are sequestered away in IRAs and 401(k)s cannot be considered in the financial aid planning formulas. Neither are primary residences most of the time. So that means if you're lucky enough to live off a $10M IRA and live in a $5M mansion in Menlo Park, all you have to do is to minimize withdrawals during the years your children are in college and you'll be treated like a trailer-park parent living off social security for the purposes of financial aid. Note that if you were to somehow manage to sequester everything away into your retirement plans and still end up having to spend some money on your child's education from the IRA, IRA withdrawal for paying higher education expenses are not subject to the early withdrawal penalty, though any withdrawal would still be subject to income tax.

The next tax shelter is the 529 account or the ESA. Most Silicon Valley high earners won't qualify for the ESA, but the 529 is available to anyone. The problem with ESAs in any case is that there aren't many low cost options for investing in them. Vanguard, for instance, has discontinued their ESA line of products. My wife writes about some interesting properties of the 529 here. Not only are 529s considered parental assets and therefore aren't as disadvantageous for financial aid purposes as a UGMA/UTMA account in the case where you do qualify for some financial aid. The big feature of the 529 is the tax-free compounding of assets as well as the tax-free withdrawal of gains for the purposes of paying for college education. It's relatively flexible and worth considering.

The final consideration is the UGMA/UTMA custodial account. The advantage here is the the child's investments get taxed at the child's rate. The problem here is that if the child accumulates a lot of assets, that will reduce his or her eligibility for financial aid at a much faster rate than if the assets were accumulated in the parental IRA or 529 accounts. However, if you're confident that your child is not going to qualify for financial aid no matter, then this is a viable strategy for the tax reduction.

Ultimately, of course, none of this matters if your child doesn't want to go to college or ends up being so highly sought after by colleges that they all offer him or her a free ride. In which case you should still fund your retirement accounts first!

Why I no longer buy individual stocks

Every time I'm tempted to buy an individual stock, I have to remind myself that I shouldn't do so. Now, vast fortunes have been and are being made in individual stocks today, so it's not because you can't make money that way. Similarly, I've bought and sold individual stocks in the past, and even made money doing so, so it's not because I'm not capable of making money that way.

Here's the deal: the overall stock market is a representation of corporate earnings in the USA. Over time, that growth is very much predictable: you can pretty much count on a 3% annual real return. Back when inflation was 3%, that meant 6% a year. You might have heard about the average 10% growth per year, but I believe that's excessively optimistic, and a result of bad math. For instance, if your portfolio dropped by 50% one year and then grew by 30% for the next two years, your portfolio would end up around 84% of where it was at the start of year one. In other words, it takes much more growth to overcome a big down year than simply taking the arithmetic mean of the growth would imply. The entire market is quite capable of doing such big swings, as most of us who've lived through the 2001 and 2007 crashes know.

An individual stock is even more volatile. Yahoo! for instance gave us quite a ride over the last 10 years, and is right now regaining the peaks it achieved in 2005, during the proposed Microsoft buyout. Is this because new CEO Marissa Mayer is going to jazz up the earnings? No, not really. It turns out that Yahoo's Alibaba stake is what's causing Yahoo stock to go up. So taking a bet on Yahoo is like taking a bet in the pre-IPO Alibaba. And in case you do want to bet on Alibaba, you should know that Yahoo's stock has already been bid up because of this!

In any case, I have no idea where Yahoo is going to go, and neither do most folks. Since that's the case, I have no business owning the individual stock. It gets even worse when it comes to stocks that you think you know something about, because that's when it's very easy for you to get caught up with the story you want to build and ignore poor performance. For instance, many techies hate Microsoft, and would want it to fail. Yet there's an argument to be made the Microsoft could be the next Apple. Don't believe that slide deck? Neither do I. Then again, I didn't want to believe that Apple would be the next Apple, since my personal bias is that the world would be better off if Apple didn't exist. (I bought Apple at $9/share and sold it at $50/share after deciding I couldn't trust Steve Jobs)

There is one stock I exempt from this rule, which is Berkshire Hathaway, which I consider to be a mutual fund run by Warren Buffett. During the 2008 crash, I found myself buying in, because the economic environment was one that Warrren Buffett is known to do very well in. I was right. But even then, I have a lot of trouble figuring out what to do with holdings now. Buffett is now very old, and who knows if he will kick the bucket soon, at which point I'll take a loss. So even in this case, I have my doubts as to whether what I did was wise.

The big difference between investing and gambling, therefore, is having a long term plan in place, and sticking to it. That's why despite all these stories about stocks being about to crash 40-55% (which I can believe in), I'm still sticking to my asset allocation. As John Maynard Keynes writes:

I would say that it is from time to time the duty of the serious investor to accept the depreciation of his holdings with equanimity and without reproaching himself.

Now this quote isn't relevant because everyone will lose money at some point or another. It's also there to remind yourself that the discipline to stick to your asset allocation is important, and overrides any desire to outsmart the market or yourself. The problem comes if you don't have the discipline, which then behoves you to hire someone else to drive the car while you get drunk.

Book Launched: How to Interview a Financial Advisor

As of this morning, my latest book, How to Interview a Financial Advisor, is now available at the book's website as well as the Kindle store. The paperback isn't ready because we're revising the cover (thanks, Scarlet). Rest assured the paperback copies will ship in plenty of time for any holiday giving you have in mind.

The book has a launch price of $9.99 on the Kindle store or on my web-site. My past books have been larger, and appealed to a narrower audience than this one would, hence the lower price. My hope is that this would prove useful to more people than the usual people who read this blog. The paperback will price at $19.99.

2014 Book Reviews

Update: Books of the Year 2014 have been selected!

Non Fiction

• Unaccountable
• The Everything Store
• Do You Believe in Magic?
• The Emperor of All Maladies
• Ghost in the Wires
• The Rise of Superman
• Caffeinated
• Aggressive Tax Avoidance for Real Estate Investors
• How to Win Friends and Influence People
• If You Can
• A Troublesome Inheritance 
• The Great Inversion
• All Joy and No Fun
• Sailing A Serious Ocean
• A Fighting Chance
• Capital in the 21st Century
• The Flash Boys

Fiction

• Silent Echo
• The Things They Carried
• The Speed of the Dark
• Soy Sauce for Beginners
• NOS4A2 
• Circle of Sorcerers
• Super Powereds: Year 1
• Super Powereds: Year 2
• Tunnel Vision
• Locked In
• The Dark Defiles
• The Inquisitor's Apprentice
• The Magician's Land
• Life With A Fire Breathing Girlfriend

Comics

• Fables #17 and #18

Review: Silent Echo

Silent Echo is J. R. Rain's short mystery novel. The premise is intriguing: our protagonist/detective is retired in a hard way: he's dying from cancer. However, one of his friends comes by and asks him to investigate an old flame's disappearance, which he can't resist, so he comes back for one last case.

The problem with the novel is that Booker does a lot of moping and self-pitying. He's not a very likable person, and the moping doesn't move the plot any further. The other problem is that with the limited mobility and fragility of the Booker, the author can't do very much with him. As a result, the list of prospective murderers are small, and you pretty much know who did it when you realized you're halfway through the book and there's only a handful of characters that have been introduced.

The reveal, when it comes isn't much of one, and I think only die-hard fans of the author would like it. Don't waste your time otherwise.
Disclosure: I got this book free through Kindle First.

Books of the Year 2013

This was an unusually poor year for reading, with family crisis, and other things getting into the way. I only read 51 books this year, which falls just a bit short of a book a week, and none of them were graphic novels.

On the non-fiction side, the winner is clear: The Story of the Human Body is the best non-fiction book I've read all year. It's a rich story, well told, and nearly every page will teach you something new about the origins of humanity and how it came about. It's well worth the money. The biggest impact on my life, however, is Modernist Cuisine at Home. This book has thoroughly changed what I thought was possible at home as far as home cooking is concern, and it continues to change what we eat and how we eat on an almost daily basis. Honorable mentions go to Nate Silver's The Signal and The Noise, as well as The Sports Gene.

On the fiction side, this has been a less than stellar year. The Hydrogen Sonata, for instance, didn't turn out to be a great Culture novel. Ghost Spin was good was a great novel, however, and lived up to my expectations for it. Every Day has a great voice, and is a lot of fun to read, except that the ending sort of ruined it. Even Zen and the Art of Motorcycle Maintenance wasn't as good as I remembered it, though it's still a still at the amazing price of $2.99 on Amazon. Don't get me wrong. All of these books are worth reading, and I would recommend them to anyone, but compared to last year's Hugo Winners? This year's batch of novels just aren't up to snuff.

Nevertheless, if there's one novel that stands out, it's Ghost Spin. Don't read it straight off the bat, though. Read Spin State and Spin Control first. The evolution of the characters and the setup of the context is worth it, and Chris Moriarty is one of the most under-rated writers in the business.

Review: Whirlpool 1.9cu ft Over-The-Range Microwave

My wife was unhappy with a crack in the microwave door, so we decided to replace the microwave with a different model. I'd become increasingly unhappy with the LG products in our house, so we made a point to avoid LG this time. The big feature that drew me to the WHM32L19AS was the big fan: 400CFM!

400CFM is big enough that you can feel the difference when you turn it on. There's less grease on the ceiling from cooking, there's smoke all over the place, and the machine is quite powerful. Reheating food used to take much longer than it does now.

The big downside is the reliability of the machine is suspect. After less than 6 months, it's already been broken. And not a cheap easy broken-ness, but a magnetron breakage. I asked the repair man how much it would have cost to fix it, and the answer was around $300, which meant that it would have been cheaper to buy a new one than to fix it. I asked how long he expected the new magnetron to last, and the answer was: "I've seen them die as quickly as in 6 months to a year." He added that the over-the-range hood microwaves get all the grease that used to be on my ceiling, and that when he pulled our magnetron it was very greasy.

Great. Just great. Why not just seal the darn thing better? My LG lasted much longer and had no problems. Worse, both the installation and repair was incredibly poor service. I'm no longer buying any products from Lowe's.

Not recommended. Next time, I'm just going to get a separate hood and a combi-oven microwave instead.

Review: Dear Mr. Watterson

I watched Dear Mr. Watterson in the hopes of gaining some insight about Calvin and Hobbes, easily one of my favorite strips. Since Bill Watterson's pretty much a recluse, you're not going to see him in this movie. However, you do get to see a lot of other cartoonists, including Bill Amend (Foxtrot), Berkeley Breathed (Opus).

You do get to see the place where Watterson grew up, and if you have good memories of the strip, that's going to be very evocative. You do see some Calvin and Hobbes originals, but unfortunately, the choice of shallow depth of field means you don't actually get to see what the folks in the movie talk about, like the white-out in various panels, etc. The strips, when they are displayed, are shown in MTV-style. Rushed pans, and single focus which basically means you never actually do get to read a strip to remind you in case you haven't gotten every strip ever done memorized.

All in all,  the director squeezed a 90 minute picture out of a 30 minute picture. Avoid. Spend your money on the book collections instead.

4 Months of Modernist Cuisine

It's been a while since I last posted about Modernist Cuisine, which is still my go-to book for cooking at home. For me, at least, it's significantly transformed my food preferences as well as the amount of cooking I'd do at home. I've done Creme Brulee, 72-hour short ribs, pressure cooked chicken adobo, and used the pressure cooker and sous vide machine far more than I ever expected to. I've applied to pressure cooker to even some of my favorite recipes outside the book, such as beef rendang and Japanese curry, to good effect---the time it takes to make those dishes have been cut down dramatically and the food quality has improved.

As for the Sous Vide Supreme Demi, I found myself appreciating it more after borrowing a DorkFood setup from a friend of mine. First, it's useful to have a second sous vide machine because while you have a 72 hour short rib cooking for 3 days, you might want to cook other stuff. But second, the slow cooker variants are slow! With the Sous Vide Supreme Demi, I can dump water straight from the tap into the machine and expect the machine to come up to temperature within 30 minutes even if it was ice cold water. No such luck with the DorkFood. You could pour boiling water into the slow cooker and still have to wait for hours for the temperature to come up if you're making Creme Brulee because most of the energy goes into heating up the cold porcelain of the slow cooker! The time saved from using the purpose built device has already paid for itself. Not to mention that DorkFood is loud!

By far the best recipe is the 72 hour short ribs. Those are to die for. If you've not had them, you need to try them. They freeze well, so it's not unusual for me to cook $50 worth of short ribs to freeze them for later use. The most common use for the sous vide machine has to be for chicken. At 66C for 2 hours, you can cook up the best chicken most people have ever tasted at relatively short notice.

All in all, I've found myself using the oven less and the sous vide machine has become the second hardest working machine in my kitchen. (In case you're wondering, the hardest working machine is the rice cooker!) Recommended.

Review: Jabra Journey Bluetooth Car Speakerphone

I got used to the Scion's built-in Bluetooth integration with my phone, so I ended up buying a Jabra Journey Bluetooth Car Speakerphone. You expect these 3rd party after-market solutions to be much worse and kludgey than say a built-in OEM solution, but you'd be wrong. The Jabra outperforms the Scion's Bluetooth integration significantly.

The Scion, for instance, only pairs with one phone at a time. The Jabra will pair with two phones at once. That's really useful, since sometimes both of us get in the car at the same time, and the Scion would inevitably pair with the wrong phone while the Jabra never has that problem. (The passenger can always click the Bluetooth button on a call to call basis)

What's great about this unit is that I expected to have to constantly recharge it. It does turn out that the 45 day standby time is correct. We've had to recharge it a couple of times since we purchased the device, but it's never run out of juice. What's amazing is that the auto-on-off works. Just getting into the car and closing the door is enough to trigger the device to power on and connect to our phones.

Voice clarity is variable, and I suspect it has to do with the phones involved much more than the device. When the phone is streaming Google maps directions, for instance, we can always hear it loud and clear. But if the voice call is iffy or noisy, for instance, why would you expect the Bluetooth speakerphone to work better than the earpiece?

Since the Journey supports A2DP, streaming music or Google Maps directions works automatically and magically. It's very cool, and in this respect is way better than the Scion's integration, where you'd have to switch the audio channel manually to see it.

All in all, I've been very impressed by this piece of technology, and would highly recommend it.

Review: The School For Good And Evil

Sophie and Agatha live in the town of Galvadon, a story book town where once a year, the Schoolmaster kidnaps two children away to attend The School for Good and Evil. These children will then end up in fairy tales and be written about for posterity.

Sophie is blond, fair, and pretty, and seems (to herself) to be a shoo-in for the school for Good. Her friend Agatha, dresses in black, and lives next to the cemetery, but doesn't believe in either the school or the fairies, and has no desire to be kidnapped. When they end up being kidnapped and Agatha ends up at the school for Good and Sophie at the school for Evil, the plot revolves around Agatha trying to get both of them home and Sophie trying to swap places with Agatha while winning her prince.

The book plays up to all the story book cliches, where the school for Good has classes like "beautification", "talking to animals", etc., and the school for Evil teaches "Uglification" amongst others. The story is funny and entertaining, especially as Sophie demonstrates her twisted ideas about what it means to be good.

Unfortunately, the author writes himself into a corner and ends up with a disappointing ending that fails to take advantage of the milleu. The big reveals turn out to be not all that interesting, and the characters never end up being very fully developed. Ignoring the ending, however, it is a fun read and can be mildly recommended for airplane reading.

Review: The Temple of Gold

William Goldman, who wrote The Princess Bride, wrote The Temple of Gold as his debut novel. I'm a big fan of The Princess Bride, so when I saw they shared the same author and Amazon offered it for a low low price of $1.99, I jumped on the novel and bought it.

I shouldn't have. This is an awful, awful novel. The lead character is unlike-able, and does so many stupid things that at one point I just stopped reading because I just couldn't stand reading a novel about someone this stupid. This isn't even about him being an anti-hero, this is just stupidity. For instance, he recognizes when someone's really good for him in a relationship, but abandons the relationship anyway.

I eventually kept reading because I was stuck in a situation where I had nothing else to do, and kept hoping for a note of redemption in this novel. Unfortunately, there was none. Stay far far away from this book. I can hardly believe that the same person wrote The Princess Bride. Now I will hesitate to ever pick up another William Goldman novel again.

Review: The Ages of the Investor

The Ages of the Investor is the first book in William Bernstein's "investing for adults" series. It's unusual in that it provides an unconventional series of recommendations that I don't necessarily agree with, but makes good fodder for thought.

Bernstein looks at lifetime retiring savings as a human capital/financial capital trade-off model. In other words, when you're young, you have plenty of human capital in terms of future earnings growth, but very little in savings. When you're old, the reverse is true. He acknowledges that this view of things is simplistic, in that a young person can nevertheless fall ill, decide to have 12 kids, or do lots of other things to impair their future earnings growth, while his model of financial wealth includes all the risks involved in holding financial securities.

One of the earliest points of the book is that series risk is important. In other words, during your investing career, if you get to take advantage of low stock prices early on, it's a really big advantage, whereas if you get the penalty of a booming stock market in your early years, you don't get to buy stock at low prices, at which point any market crash can really nuke your savings. He points out, however, that if you get a lump sum and invest it all at once, you get to neutralize all series risk, and you avoid extreme outcomes and get to use the market average. This insight doesn't help much, Bernstein admits, because unless you get a big inheritance (or got rich from an IPO), there's no way to find this large lump sum.

Bernstein then examines folks at the beginning of their investing career. This part is not controversial. It's well known that young investors are unnecessarily conservative in their investments (mainly because it takes time to understand financial markets as well as how they react during a downturn), and should actually leverage themselves, as opposed to putting their money in a stock/bond mix. The problem is that most people don't want to use leverage, and even if they did, could quickly panic during a downturn. Bernstein recommends using a DFA-type portfolio instead to increase the risk that they take in their early years.

Then end game is where Bernstein's recommendations are controversial. His thought here is that once you've reached your "magic number", you should avoid taking further market risk. Well, the problem here is that there really is no avoiding market risk except by taking on inflation risk, and for any 30 year period, inflation risk is really high. He suggests a ladder of TIPS (Treasury Inflation Protected Securities), but doesn't point out that TIPS have really poor tax characteristics, and are also paying record low interest rates at this point. He also recommends purchasing an inflation adjusted annuity, but also points out that those have historically been very poor deals. He suggests value stocks, but again, those don't eliminate market risk.

Here's the thing, buying a ladder of government bonds during a period of unusually low interest rates is very likely to send you to the poor-house. Furthermore, once inflation returns, the interest generated from your portfolio would be insufficient to live on. This advice worked well for Robin & Dominguez, but they retired in the 1980s during record high interest rates. I'm not sure Bernstein is doing his readers a favor in 2013 by suggesting a similar route.

The only uncontroversial recommendation he makes here is to delay taking security as late as possible if you're in good health so as to get a great "annuity" from your social security income stream. Of course, if you're a die-hard libertarian I don't expect you to take that advice. Even worse, his examples don't note that those who have their assets in mostly taxable accounts actually have an advantage over those who have most of their assets in tax-sheltered accounts, which is the ability to control taxation through judicious use of when to take capital gains as well as substantial advantages to be found in using tax-loss harvesting. I'm not quite sure what to make of this omission.

All in all, the book makes a bunch of good points and gives you lots to think about, but I find Bernstein's recommendations here thin and not really very strong compared to the resources say, at The Retire Early Home Page. He doesn't even address those issues, or the very important question of how you would arrive at your magic number. While I think the book was worth the very quick read, I cannot give many of its recommendations my endorsement. Read and apply the advice at your own risk.

Review: Wheat Belly

My doctor actually recommended Wheat Belly, or I wouldn't have picked it up. Cure Your Child With Food, for instance, already mentions that gluten, the protein in wheat, is the source of many digestion problems. That book reported loads of success curing kids by eliminating wheat and anything white from their diets.

The Wheat Belly proceeds to blame almost all modern ills on wheat and wheat products. As in Cure Your Child With Food, he claims that wheat has been so genetically engineered or otherwise manipulated that the nutrition in it is not something that your body can absorb or deal with, leading to a bunch of diseases ranging from diabetes to acne (!!) to early balding in men. The book is replete with anecdotes from his practice where the patient is miraculously cured after eliminating wheat from his or her diet.

Unfortunately, things are not that simple. You see, Doctor Davis doesn't just recommend getting rid of wheat. He recommends eliminating all forms of whole grain and potatoes as well as the sugary fruits. Adopt his program wholesale and what do you get? The Atkins diet. If wheat was the all encompassing evil he claims it to be, then there shouldn't be any need to eliminate all the other foods, so this prescription basically undermines the entire first 2/3rds of the book!

Now, it could very well be that gluten sensitivity (not necessarily celiac disease) is far more prevalent than you might think, and that many people with irritable bowel syndrome could benefit by eliminating wheat. But if you're looking for proof that wheat is the culprit, then this book definitely does not provide it. That said, he does reference lots of interesting data, including Denise Minger's excellent debunking of the China Study. There's a lot of interesting information, though again, since he undermined himself in the last 2 chapters of the book I'm not sure how much I'd be willing to believe anything he says.

Not recommended.

Review: Pyle Waterproof MP3 Player with embedded headphones

I've been forced to swim a lot recently, and have come to the conclusion that lap swimming is the most boring sport in the universe. There's nothing to see, the scenery doesn't change, and you can't even hold a conversation while swimming like you can while you're cycling, running, or doing almost any land sport. I can't imagine doing it for any length of time long term.

After a while, I decided that it would be a good idea to find someway of listening to something while I'm doing my boring laps. If you're an iSheep, then the natural thing would be to pick up the Underwater iPod. These are basically iPod shuffles have been rebuilt with a waterproof resin internally and a waterproof coating externally, and then you can fit a pair of waterproof headphones to them, attach the whole shebang to your googles, and now you have an iPod that can play music underwater.

But I'm not an Apple fan, and $150 for a 2GB iPod shuffle is incredibly offensive to my senses. So I went looking and came up with the Pyle Waterproof MP3 player. At $40, it's more expensive than some other products, but it also had far better Amazon reviews. At 4GB of storage, it's got twice the storage of the Apple equivalents at one third the price, something very familiar to anyone who's familiar with how tech pricing works.

My first couple of swims were disappointing. The sound was muddy and unclear, and the headphone kept coming off. But I finally figured it out: the headphones come with 3 sets of ear pieces for underwater use, and what you need to do is to use the biggest ear piece that will fit in your ear canal. Once I got the right set (which surprisingly was the largest set), the sound was clear and lovely, and the ear pieces don't try to come off your ear. Now, if you do a particularly violent motion or if you knock your headphones with your strokes you still might get some leakage, but by and large the whole thing works and seriously, once I stop needing to nurse my back along I'm not going to swim more than a couple of times a week anyway.

In any case, my swims have gotten a lot less boring, and more than once I've found myself swimming an extra couple of laps to finish the song I've been listening to, so it's definitely changed lap swimming from "boring" to bearable. Recommended.

Review: The Story of The Human Body

The Story Of The Human Body is written by evolutionary biologist and Harvard Professor Daniel Lieberman. It's not just a boring history of how your various body parts evolved, but it's also an exploration about how mismatch diseases come about: diseases caused by the mismatch between your relatively old genes and the relatively unusual state of civilization today.

Midway through the book (page 173), there's a list of mismatch diseases that hold a few surprises even for me. For instance, apnea, ADHD, OCD, and chronic constipation are all considered to be mismatch diseases. I'm very familiar with Apnea, and I was surprised to find it on this list. The explanation is surprising: if you grew up on relatively soft processed or cooked food, you didn't have to chew very much or very hard, so your jaw ends up being a bit too small, which is one of the conditions that causes apnea. Lieberman suggests allowing kids to chew gum a lot as a way to help correct this deficiency, and I wonder if Singapore's ban on chewing gum could contribute to a rise in the number of children who end up with sleep apnea in the future as a result.

Which brings me to another interesting point about this book. Because mismatch diseases have long lead times and are caused by conditions in which the child grows up in, but the disease itself doesn't show up until in late adulthood, this book also doubles as a parenting manual of things that you as a parent should do, but might not have realized are important. For instance, he suggests letting kids run around in bare feet as much as possible to prevent future incidences of flat feet. This goes against the norms of civilized society, and parents should take note. Other little tit-bits from this book:

• Growing up in a hot environment will cause your child to develop more sweat glands. This may or may not be a good thing, depending on your point of view.
• Baby fat is not necessarily benign: even if the kid grows out of it, being fat at a young age causes your body to have more visceral fat cells, which can lead to being more easily fat as an adult.
• Myopia could be caused by spending too much time indoors, and insufficient variety of visual stimuli. Having a wide variety of visual stimulus is important for normal vision.
• If your kids get antibiotics, it might be necessary to follow up with a dose of probiotics to help the stomach flora return to normal.

If you don't have kids, there are lots of other fascinating topics that are relevant to you:

• Sitting is very bad for you.
• Human beings are basically the fattest primates around, but there are good reasons why.
• Why do men get prostate cancer?
• Why do you tend to get back pain as you age?

These questions all have lots of fun answers in Lieberman's book, plus a huge dose of evolutionary history which explains why if agriculture was such a hard life compared to being a hunter-gatherer, humans adopted it anyway.

Lieberman ties off the book with a bunch of policy suggestions as to how to prevent many of the mismatch diseases he describes. I have a very pessimistic outlook on those suggestions, as the long feedback cycle (40 years or so before diabetes begins to show up) ensures that much like global climate change, there's no real incentive for government to do anything about it.

I thoroughly enjoyed this book and found it incredibly informative. It's very likely to be the best book I've read all year. Highly recommended.

Review: Skating to where the puck was

Skating to Where the Puck Was is part of William Bernstein's series called "Investing for Adults". I did not consider the previous book I read in the series, Deep Risk, to be worth the trouble, but I have a different opinion of this book.

Bernstein points out that in many cases, by the time an asset class is widely accessible to the masses for investing, it has lost most of the attractive properties it used to have, therefore rendering the asset class much less interesting. The first example he uses is from David Swensen's Pioneering Portfolio Management: the Yale Model, with its reliance of alternative assets, including hedge funds and other such, returned outsized success until it became widely known and copies, at which point it stopped yielding those outsized returns.

Similarly, he points out that recently, an individual investor could make outsized gains in the housing market by buying up houses and renting them for profit, but doing so would have required that you make a full time job (or serious side job) out of it, not by merely investing in an REIT. Similarly, the Japanese stock market returned incredibly high yields when John Templeton bought into it very early. So early, in fact, that when he first bought shares in the market, they could not even be taken out of the country! By the time generalized Japanese stock funds became available, the return on those funds going forward was dismal. The result, Bernstein says, is that:

if your portfolio looks like the Yale Endowment's, then you're likely to find yourself chairless when the music stops. Diversifying is easy; doing so early is difficult.

The solution? Boring old asset allocation and staying in the market for the long haul. There a really is no Santa Claus, and no tooth fairy, unless you're the next John Templeton and have the courage to get in ahead of the crowd. (And even then, there's no guarantee that you're not the next Bill Miller instead)

The book repeats stuff you probably already know as an investing adult, but the stories inside are worth a quick read and the book is cheap. Recommended.

Review: 3M Command Strips

I never really was into hanging photos or artwork on the walls, even photos I took myself. It wasn't until recently that I figured out what. It turns out that nailing holes in the wall is a somewhat permanent act, and I didn't like the irrevocability of putting a photo up.

One of the helpful folks at Orchard Supply inadvertently pointed that out to me when I asked about buying hanging fixtures. Thinking that I rented an apartment, he told me about 3M Command Strips, which are essentially matching sets of Velcro backed by sticky tape. The clever thing about the Command Strips is that there's a tab on the back of the sticky tape which stretches the glue in the sticky tape so that the entire strip comes cleanly off the wall when done.

A few things are necessary to get these to work right. First, you should use them only as recommended for their weight ratings. Secondly, you need the surfaces to be clean. Lastly, you actually have to follow the directions. We've hung a mirror and 2 pictures with these trips, and I'm very happy with them. I haven't actually tested the removal, but judging from the Amazon reviews, that's not actually a problem.

Recommended.

Review: Cure Your Child With Food

Cure Your Child With Food is a book about nutrition and the impact nutrition has on children's health and growth. It's an interesting book in that it's organized with each chapter meant to be read independently, which leads to a lot of repetition.

For instance, my impression of the first half of the book is that she's a one-trick pony. She seemed to have only two solutions for the patients who come to her: get rid of the diary in the diet, and ditch the gluten. Get rid of the American "white diet". That's it.

The second half of the book, however, does demonstrate that she doesn't just prescribe one thing for all patients. For instance, one patient came to her with sleep problems and an otherwise healthy diet. Getting her onto 0.5mg of melatonin supplement an hour before bedtime meant she could sleep through the night. She explains why melatonin is a good solution and why it is not addictive. Another patient came to her from a vegetarian background with muscular development issues. Adding choline and fish oil to his diet resolved his issues. She does caution that sometime fish oil by itself isn't enough and that other forms of intervention are required. She diagnosed one case of a patient ingesting pesticide from fruit.

She presents interesting theories about why there's been a recent rise in gluten sensitivity (not the same as celiac disease): the amount of gluten in wheat that has been harvested has gone up, due to "improved breeding" and other interventions. She also explains why she recommends fish oil supplements over just adding more fish to the diet: the risk of mercury poisoning.

While the book is wordy and repetitive, I found it useful in thinking about children's nutrition. For instance, once you take your kid off infant formula, you should think about where his Omega-3 is going to come from. In our case, it was more palliative than anything else, but it's not quite a "one trick pony" book that the first half of the book presents itself to be. Recommended.

Advanced Reader Copies of my next book now available

It's called How to Interview A Financial Advisor. It's a short book, about 50 pages, and the first round of beta only has 20 copies available. Since it's currently in beta, it doesn't have a cover yet (I'm waiting for the cover to come in), and the PDF copy doesn't have an index. If you make comments about the book that lead to changes in the book, you'll get to be on the acknowledgements page.

The book is priced low $4.95, and I'm still trying to decide on the final pricing. As a perk, beta customers will also get cheap access to the printed copy when it is finally available.

Review: Aqua Sphere Kayenne Goggle

I've been suffering from some lower back pain due to lifting my toddler at a time when he was struggling. The pain's been bad enough that I've been banned from cycling or heavy lifting, and about the only sport I can indulge in is swimming.

I've been stealing my wife's cheap goggles for those swims, but they're a bit small for me (yes, I know, you're not surprised), and I felt the pressure in my eyes. They also weren't optically very clear, so I splurged and bought the Aqua Sphere Kayenne Googles.

I picked these because (1) they're cheap, and (2) the goggles themselves are wide enough that it looked like the cup around the goggles would be wide enough so that they would spread themselves out over a wide area around my eyes, relieving some of the pressure around my eyes while swimming. At $16 for the cheapest versions they're not super cheap, but they were indeed less pressure than the previous goggles.

They're also optically very clear! I swapped them with my wife one day in the pool and she liked it so much I bought her another pair that were identical to mine. Needless to say, for me to buy 2 of anything means I really like it alot. Recommended.

Review: Invisiblity

Invisibility is a young-adult novel by Andrea Creme and David Levithan. Levithan, you'll recall, is the author of Every Day, and the voice in this novel is very similar to that novel, despite being told alternatively from two perspectives, Stephen and Elizabeth.

The hook in the novel is that Stephen was cursed to be invisible from the day he was born. The novel details all the issues this brings. Stephen seems to have done a good job coping with life as it is, until one day, neighbors move in and Elizabeth is able to see him. We start with a quiet love story, set in New York and its environs, while Elizabeth and Stephen work through their budding romance.

Once Elizabeth discovers that she's the only person who can see Stephen, however, the action revs up and the novel goes into high gear. She quickly discovers why, and starts trying to figure out ways to solve Stephen's problem. At this point, Stephen quickly shifts from being the center of the story to becoming almost a by-stander.

What I like about the novel is that the characters are faced with no easy answers, and have to sacrifice in order to stay together. The authors also do not try to resolve the situation arbitrarily and let the rules they have in place run the climax and conclusion.

While this novel started slowly, towards the end I found myself captivated, flipping pages relentlessly to find out what happens next. That the novel doesn't cheat itself by trying to set up for a sequel (unlike Every Day) is another point in its favor.

Recommended.

Review: Six Earlier Days

Six Earlier Days is a short prequel to David Leviathan's novel, Every Day. It's a light fast read, but doesn't have the heft or development of the novel. It brings together 6 different days of A's life, some of which reveals a facet of his character, and two of which foreshadowing the events to come in the novel. I can only recommend this book if you read Every Day and wanted more.

Review: Deep Risk

William Bernstein has written a new series of short books titled "investing for adults". Deep Risk is one of the series. The book is short, and I wish Bernstein had simply cobbled all the books in the series together as one book rather than trying to sell each monograph separately.

The idea behind Deep Risk is that there are 4 major potential disasters (Bernstein refers to them as the Four Horsemen) that can derail your financial plan. These are: inflation, deflation, confiscation (taxes), and devastation (war). He then analyzes them in terms of how frequently they occur and how difficult it would be to insure against them.

It shouldn't surprise anyone that inflation is by far the most common potential problem for any portfolio. What's interesting about Bernstein's analysis is that he discovers that the traditional inflation protection, Gold bullion, isn't actually very good as an inflation hedge! Rather, stock portfolios tend to do far better as inflation protection even though in the aftermath of an inflation, the stocks could do badly. Bernstein dismisses the potential short term underperformance of stocks as shallow risk: in other words, if you had the fortitude to hang on, you'd recover your portfolio with no permanent loss of capital.

Deflation is much less likely, and Bernstein claims that it has only happened once in Japan since developed countries went off the gold standard. He dismisses Japan as a one off. I disagree, as the U.S. came close to adopting the very same policies that Europe did and could have gotten 10 years of deflation as well. It's also not clear to me that Europe hasn't been subject to the same deflationary problems. Bernstein claims that gold is actually a great deflation hedge, since a big depression triggers a flight to safety, which is what gold traditionally is.

Bernstein defines confiscation relatively loosely. For instance, an increase in tax rates could be defined as confiscation. It seems to me that you could solve the confiscation relatively easily, by moving to a very high tax state with already confiscatory taxes, at which point your risk of further confiscation is relatively low. To be fair, Bernstein does point out the exiting U.S. citizenship would cost you an exit tax, and even holding foreign assets is no protection from the tax man, should we ever get an administration that chooses to enforce such laws. The reality is, if you're a U.S. citizen intending to stay in the U.S., there's relatively little that you can do beyond the existing well-known tax-sheltered accounts and tax-managed funds.

Finally, the threat of war is real, but again, there's relatively little you can do unless you decide to become a survivalist and start building bunkers. In serious threats, what you'd have to do is to stockpile food, guns, and ammunition and build a private army. Historically, people who've done that don't tend to do all that well financially, and the existence of events such as the Waco Seige indicates that even building your own private army doesn't do very good if someone with a real army chose to take you out.

Ultimately, I found the entire book disappointing and lacking in useful action items. The truth is, as a financial observer I've found that far more people have devastated their portfolio by panicking during a crisis than by having their wealth confiscated by a government, war, or even inflation. So rather than writing a series of books called "investing for adults", Bernstein probably should have written a book about how to become an adult, as far as investing is concerned. Not recommended.

Review: The Sports Gene

The Sports Gene is not just a book about athletes. It's also a thorough debunking of books such as Talent is Overrated. If you were to want to debunk that book, you'd want to do this starting with athletes. Pretty much everyone knows intuitively that no on 5' 2" and shorter is going to play in the NBA. The disadvantages that accrue from being shorter than all the freaks of nature playing in the NBA would just be too much for any amount of practice to overcome.

The book starts with Tiger Woods, whose dedication to golf is pretty famous and well-documented. What Epstein points out, however, is that few accounts of Woods' success points out that even at 6 months, Woods was capable of standing on his father's palm while his dad walked around the house! That's innate talent that wasn't taught and can't be taught.

The book then goes on to cover short distance athletes, marathoners, skiers, sled dogs, and ties it all together. What's great is that in the course of covering the genetics of performance, he also discusses certain questions that have always bothered me. For instance, if living at altitude is so beneficial, why aren't the gold medalist sprinters and marathoners from Tibet and the Nepal Himalaya instead of being from Africa? It turns out that there's an optimum altitude for hemoglobin creation (5000-7000'), beyond which it's difficult to train hard. Furthermore, the sherpas and other high mountain people developed a different genetic pathway towards altitude acclimation rather than the metabolically expensive hemoglobin creation.

There's also a great discussion of Superbaby, how the success of a breed of alaskan Huskies proved that even motivation has a genetic component (they bred a breed of dogs that just wants to run when harnessed!).

The author also studied the Australian Olympic program, which specializes in identifying which sports an athlete is uniquely suited for, and then grooms that athlete for those sports. In those cases, it's quite clear that gold medalists with talent can achieve in 4,000 hours what others without talent cannot do with 10,000 hours.

Epstein succeeds in making his points, though obviously doesn't answer any questions about the intellectual analogues to the skills/abilities he discusses. Along the way, you'll learn a few things about genetics and what types of bodies it takes to succeed in the various sports. The average reader might be disappointed that he doesn't discuss what ethical implications they may be, and how quickly genetic engineering is likely going to take over the sporting events. The days of unaugmented athletes being able to perform at the world level might very well be numbered.

I thoroughly enjoyed the book, and can highly recommend it.

Review: Naked Statistics

Naked Statistics is a non-technical introduction to statistics. In terms of explaining the science of statistics to laymen, it does a passable but not stellar job. The basics are straightforward: nearly everyone should know the difference between mean and median (the book doesn't cover "mode"), and Wheelan does a fine job of explaining the difference.

Where the book starts to fall apart is on items such as the Central Limit Theorem and Regression analysis. Both topics are technical enough that you really should just get out a statistics or math textbook and work through examples yourself. The book separates out the technical details in an appendix to each chapter, but I found that treatment unsatisfactory. On the other hand, I'm also the kind of person who'd read a textbook if  I really wanted to review this material as preparation.

The book is sprinkled with lots of examples, some of which are fun, but doesn't into enough depth about the anecdotes to really get at the gist of the matter. The author says he was inspired by How to Lie With Statistics, but in my opinion anyone who wants to read this book should read the original instead.

Not recommended. Go read a textbook instead, or the original source of inspiration instead.

Review: Cold Days

Cold Days is the latest available novel in the Dresden Files series. Like the previous couple of books in the series, you are well advised not to read this novel until you've read at least the previous 3 books in the series.

The books at this point suffer from the travails of a D&D campaign that's gone past the sweet spot of the game system. The characters are now extremely powerful and the only way for the DM/author to challenge the players is to keep throwing bigger and bigger challenges and bigger and bigger bad-asses at them.

This is not a bad thing. But as an action series, there's precious little time for reflection on the part of Harry Dresden, and there's even less motivation for him to introspect. We do get a few notices here and there on the part of the temptations he's subject to as the new Winter Knight, but by and large he brushes them off as he spends much of his time going for survival, rather than flexing his powers.

I did enjoy a number of plot twists in the book, and the expanded awareness of his urban fantasy world is a lot of fun for long time readers of the series. If you're already a follower of the series, this is a great book, and worth your time. While it's not necessary to read the entire series, it'd be worth while to at least start from Changes. Recommended.

Review: Ghost Story

Ghost Story is book 13 of the Dresden Files. It is a direct sequel from Changes, and if you haven't read that book you'll not get very much out of this book, because it picks up directly where Changes start. Given that that's the case, I'm going to spoil this book if you insist on reading further on this review.

Dresden was murdered at the end of the last novel, and he wakes up as a ghost, 6 months later, at the start of this one and is charged with investigating his own murder. Unfortunately, there's a complete shortage of clues, and Dresden wanders from situation to situation, trying to resolve more urgent problems than that of his murder, which in fact, he deduced correctly fairly early on in the novel.

In many ways, fantasy is about wish-fulfillment. In some ways, this is Dresden's wish-fulfillment. He gets to see how crucial he was to the community, and how much things went wrong without him for 6 months. The mystery as such isn't much of one, but again, is more like an action movie. It does end up with a setup for the next book, so it's clear at this point that Jim Butcher has given up on standalone novels and is only writing for folks who'll read the entire series.

Only recommended if you're willing to slog through the entire series.

Re-Read: Ender's Game

This is my third time reading Ender's Game, and I've read the previous incarnation of the novel (which began as a short story in 1977) several times over the years. I started reading it because of the upcoming movie based on the novel.

There are several things that date the novel at this point: the first of which is the superpowers of the world back in 1977 were the Russians and the Americans. Obviously, that has changed recently, and but the book doesn't reflect that. Fortunately, this background has little to do with the main focus of the novel.

The novel is compellingly readable, but it lost a bit of impact between the short story of the same name and the conversion into a novel. The short story was focused at it's core: if the horror of war could be distilled away into a child's game, then we could perhaps train children to become amoral warriors. The novel is quite a bit more nuanced, meandering into issues of xenocide, the rightness of abusing a child, no matter how brilliant and no matter how important the purpose. What's worse, the ending of the novel makes it clear that Ender's sacrifice was unnecessary.

Nevertheless, the book, when it does focus on Ender and his travails, is excellent, providing many examples of leadership that real world managers and executives would be well-advised to emulate. Highly recommended.

Review: Changes

Changes is book #12 in the Dresden files. In many ways, the series reminds me of a RPG game. As the characters get more and more powerful, the ante has to ramp up, otherwise, the characters are left with no challenge in their lives.

At least Butcher is willing to make drastic changes in his milieu, resolving a major plotline that's been long-running in the series, which is the war between the White Council and the Vampiric Red Court, while Dresden, the main character, undergoes a major life change as well, picking up yet another family member, a new job, as well as a new life state.

The bad things about the book is that the plot feels like it's been reused. The "little girl in trouble" scenario feels a bit old, because it was just used a couple of books ago. Finally, the end of the book feels very much like a cliffhanger to get you to read the next book in the series. Regardless, there's thrills galore, lots of explosions, and many set pieces. There's not much boring investigation work, but at least Butcher seems to have given up on the "I got bonked on the head, fell unconscious, and woke up someplace different" mode of investigation.

It's good summer reading, a lot like any of the summer blockbusters. I'll pick up the next book in the series soon.

Review: Turn Coat

Turn Coat is book 11 of the Dresden Files. The series finally comes full circle, as Dresden now has to bail out the very person who was his "parole officer" at the start of the series. We finally get a good view of the White Council HQ, as well as the politics involved in the wizards. I still found myself wondering why the wizards seem to be so ineffectual in the world if  there were so many high powered individuals wandering the globe. There's a grand climax with big battles. It seems nothing ever gets resolved with a big bang in Butcher's milieu when it could be resolved by multiple nuclear options.

It's still an enjoyable read, though the series is starting to get to the point where Butcher is introducing as many new mysteries in each novel as he's resolving them.