The best armor of old age is a well-spent life preceding it.
I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it.
I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up with their age cohorts at Goldman. This can't possibly end well in terms of meeting these expectations.
