Parenting two teenagers is difficult. Most of it comes down to remembering two things.
The first, my wife said this too shall pass. From the very beginning that has been good advice.
The second, when I was a boy of 14 my father was so stupid I could barely stand him. But when I got to be 21, I was astonished at how much the old man had learned. That’s from Mark Twain. Maybe.
There might be a third to the list.
“Quantitative stuff can survive doing some horrifically stupid things in isolation. If 53 percent of the time increasing is a good word, then 47 percent of the time you were stupid. Turns out natural language processing or NLP, if we want to sound like the cool kids, that is taking that same data and training a ML model to say what predicts and what doesn’t predict.”
From Money Stuff: The Podcast: Cliff Asness, Jun 20, 2025
And parenting is kind of like that! Everyday Asness makes bets and everyday we get to be with our kids. If we can just be mostly right, things work out just fine. Or at least they have for Cliff.
The Waiter's Pad 