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I've heard that, too, but I'd be pretty nervous participating with such a small net worth (for that game). I'd be surrendering almost all of the small-investor protections that we take for granted in the public market, and on the private side, would probably be pooled with lots of other small...

There's some threshold (maybe not exactly $20M) when new opportunities open up to you, like private investment, and those do require some active management. I haven't looked into details, because I'll never get there.

Congrats to your spouse on a great career. What you write was true 25 years ago (and even 15, to a lesser extent), and I'm sure your spouse helped a lot of people well, but the world has changed: just like we don't pay by the minute for a long-distance call any more, we no longer need to give up...

Happy American Thanksgiving, neighbours!

Just to summarize: for IFR, only the navigation database is legally required to be current — a subscription is the most economical way to do that no need to subscribe until you start your IFR training Garmin and Jepp are alternatives, and Garmin is cheaper the GNS 430W display isn't capable of...

For SLD, what you need is some kind of lift — frontal, convective, terrain, etc — to keep the droplets bouncing around up in the colder air. Most common is ahead of a warm front. There is also the special case of very cold air blowing over warm, open water (Lake effect, freezing fog, etc) I can...

Exactly. I think we're saying the same thing in different ways.

It makes a big difference whether you're 35, 55, or 75 when the crash happens, and what your health is like — recovery may take too long to be useful, and limit the quality of much of the rest of your life.

The markets also scare me. It makes no sense that stocks keep shooting up past any sane valuation, and that bond yields are staying so low, when both Canada and the US have record debt and rising inflation. I don't want to overreact, but I have recently shifted an extra 15% of my portfolio from...

Well explained. More background reading (for others) here: https://en.wikipedia.org/wiki/Survivorship_bias

Yeah, there are always assumptions that can go wrong. In July 1914, Western Europe hadn't had a major, contintent-wide war for 99 years, and in the new age of global trade and instant communication, it seemed impossible that there could ever be one again, because everyone would lose. Fast...

Even if you pay a few hundred dollars/hour for consultations, you'll end up way ahead in a fee-for-service arrangement (like with a lawyer or accountant). Handing over 1.25% of your total assets every year will cost you tens or even hundreds of thousands of dollars over time.

A Random Walk Down Wall Street is another great read.

Today I bore my full weight on my legs for the first time since spinal surgery six weeks ago, for two whole minutes.

Unless you're very affluent (say, >=$20m in investments), you may not need that level of active management in the ETF age. You can buy low-overhead (<=0.25%) ETFs that passively track indices for whatever you want — mid-cap growth stocks, BRICs, blue-chip dividend stocks, fallen-angel...

The important thing is not to rush, with half of your attention always already on the next step instead of what you're doing. For example, when you're looking at the left wing, let the aileron pushrod be the only thing that matters to you while you're checking in. and then when you finish the...

When you go missed, your first action items are survival ones, and have nothing to do with your GPS: full power to stop the descent; clean up the plane; climb. If examiner sees you distracted from those because of the GPS, that will definitely be a fail. The GTN will keep you on your last...

What is Hard IFR? When the road you've been following enters a tunnel.

I don't understand why she added power in the flare: that's just more energy that she had to dissipate. Unless the Luscombe is stunningly different from every other single-engine piston plane, you can get rid of the forward energy simply by using it to arrest your descent.

For new pilots, landing is a bit like docking a boat — you reduce power to idle (or stop paddling) and then let your kinetic energy decay until — ideally — you run out of energy at exactly the moment the side of the boat touches the dock or the wheels kiss the runway.