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A Human Way Back
Don’t let robots do this or that sort of work. That is the rough idea behind Human Reserved, Bill Gates’s recent proposal to preserve certain roles for people even when artificial intelligence could perform them. His concern is prospective: how do we keep working people from being displaced and discarded? My mind went to people…
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The Return on Delay
When do systems make bad behaviour pay? I began complaining about misconduct in finance in 1990. Across four decades, the record of matters I raised has come to include permanent bans, collapsed firms, billions in damage, and settlements measured in hundreds of millions. The amounts are alarming. I am more interested in the time. This…
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The Windsor Class
Gilbert Gottfried was credited as the original voice of the Aflac duck. But older financial analysts like me know better. It was plainly a recording of Ed Rosenbaum laughing at one of his own jokes. The laugh was ridiculous. The institution he built around it became the world’s premier CFA study seminar—and remained so for…