I’m reading an older (2001) book by Michael Lewis: Next. In it he shows several kids who developed their identity on the internet. One made almost a million dollars trading stocks on e-trade, another was the highest ranked expert in law at askme.com.
My identity is also in flux. New job, new location, many old projects finished. And now I have the leisure to figure out what’s next. Much of what I write is inhibited: frustrating experiences, political views, and financial tips that are difficult to write about.
Maybe this blog will be a way to get unstuck. To write, and think, more freely. I’m using a pseudonym–although it’s pretty easy to figure out. And for now I won’t advertise this blog widely. It’ll be an experiment.
Why the title about overrated education? It goes back to a conversation with my brother-in-law. We discussed investing as well as our jobs and education. We realized that University education has many characteristics of a financial bubble:
- Its price is far higher than any reasonable estimate of intrinsic value.
- It is rapidly increasing in price.
- But people keep buying it. They speculate on a college degree thinking the degree (a worthless piece of paper) will allow them to earn a higher income. Crazily, it often does.
Bubbly assets are good investments…until they’re not. I think that day is coming soon.