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Rethinking Risk: Why Your Mental Model of Aviation Safety Is Probably Wrong

I'm in the final stretch of my ATP rating, I’ve been thinking a lot how we can maximize survival and minimize the likelihood of becoming another aviation news headline. I'm now convinced that we have the wrong mental model. Pilots like the simplicity of categorizing safety by powerplant: “Piston engines fail every 1k–10k hours.” “Jet engines are good for 100,000 hours, and with two of them you will never have to worry about it.” Unfortunately, the real world is very messy, very gray, and very conditional. A much better mental model that will keep you alive is to completely throw away those statistics and build a model for every flight you take. That’s much closer to reality. The conditional probability of any given flight varies greatly. Some flights have a 1-in-10-million survival rate—you would have to repeat that flight 10 million times to have an incident. Some flights, if we’re intellectually honest, are probably terribly low odds, like 1 in 100. Repeat that flight 100 tim...
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NYC's "$2.75 uber congestion fee" just is a form of new taxation for the lower and middle income

NYC is adding a $2.75 "surcharge" fee for all rides south of 96th street. Effects Lyft and Uber only, not yellow cabs and other car services, who will now become the cheaper option. "Your surcharge will go directly to the state to support public transportation. It won't go to drivers or to Lyft. " This is a form of direct taxation. There are a few issues with this. We already pay the highest taxes in the country for living in new york city. and now new yorkers are again being charged yet another form of tax to support the state (note these proceeds go to the state, not to the city). Let's do some quick math.. if you take uber to and from work, and use it twice on weekends, that works out to 2.75*2*7=$38.50 per person per week, or $2002 per year in increased tax. For someone making 100k a year, that's a 2% tax increase. For someone making $1M a year, that's 0.2%. How liberal of new york to add this new form or taxation of the lower an...

Hurricane study by data scientist: surprisingly I am not seeing the explosive growth

This report is an analysis on hurricanes, surprisingly I am not seeing the explosive growth that documentaries show. I took the raw list of hurricanes from wikipedia to make landfall in US 1850-2018 and did an analysis. This is a “strength” study. Each hurricane gets points which is the square of its category, so cat 5 = 25 points, cat 2 = 4 points. It’s an annual study where we sum up the points of all hurricanes happening within one calendar year. There is no clear pattern of exponential growth in strength. In fact in 2005 strength appears to be all time low. This is the same study b y decade  where we sum up the points of all hurricanes happening in 10 year periods. You may think the exponential scoring is unfair, so we can try a linear. Here, the points assigned to each hurricane is equal to its category. So two cat 3 hurricanes in one year = 6 points. This is a color coded study showing counts by hurricane category. Here I added a polynomial trend line. Over 20...

CFII Advice: trick to fly IFR into Linden Airport near minimums (KLDJ)

If you're going IFR to linden in real IFR weather, think twice about this. If flying is inherently dangerous, and if approaches to minimums are the most dangerous part of flying, then this particular approach is a compound. This approach should n ever be attempted by new IFR pilots with weather near minimums . If you're a seasoned IFR pilot, keep reading. Newark Approach will force you to cancel IFR between the FAF and MAP. The MAP is the first opportunity to maybe see the runway. That means you're always cancelling IFR before you have visual contact with the runway, and you cannot go missed. Recall that VFR minimums in Golf daytime is 1sm vis and clear of clouds. That means in daytime, as long as you have 1sm vis and can remain clear of clouds, legally, you can cancel IFR and continue the approach legally VFR pilot nav. Visibility is the most important thing. It's 2.3nm from BAUTZ to the runway. So if visibility is less than 2.3nm you know you won't be able...

Stock Market Bubble: Google Trends vs. Market data

Is the market in a bubble? Is a stock market crash coming? Aggregate macroeconomic data is not showing any sings of weakness for previous month. Would be interesting to see sentiment analysis of "stock market bubble is about to burst" discussion around 2013 compared to now. I recall there was a lot of worry back then that market was at all time high. If you recall, around 2013 a lot of investors and analysts were talking about moving to cash positions anticipating recession. Seems silly in retrospect, that was so long ago. 2013 was year of IPhone 5 and the beginning of Obama's second term.  The data below represents 2004-2018. above: Google Trends on "stock market bubble",. you can clearly see in 2013 (red circle) it becomes a hot topic as S&P reached pre recession high. This can be thought of as a "pessimism grap h". above: S&P 500 2004-current, notice the discussion correlates with S&P hitting pre-recession highs. ab...

Shortest runways in Caribbean

These are the shortest runways in Caribbean. They come with their fare share of crashes like this Aztek in Saint Barts. Notice the wheels don't make contact until the departure-end 1000 foot white markers . The go-around should have been executed long before that, at the approach end 1000-foot markers . 11. Edward Bodden Airfield, Little Cayman – 998 metres or 3275 ft 10. Mustique Airport, Mustique (St Vincent & the Grenadines) – 992 metres or 3255 ft 9. Virgin Gorda Airport, British Virgin Islands – 945 metres or 3100 ft 8. Salt Cay, Turks & Caicos – 822 metres or 2697 ft 7. Auguste George Airport, Anegada (BVI) – 762 metres or 2500 ft 6. Union Island (SVG) – 752 metres or 2467 ft 5. Middle Caicos Airport (TCI)  – 750 metres or 2461 ft 4. Gustaf III Airport, St Barths – 650 metres or 2133 ft 3. John. A. Osborne Airport, Montserrat – 600 metres or 1968 ft 2. Codrington Airport, Barbuda – 500 metres or 1640 ft 1. Juancho E. Yrasquin Airpor...

Why you shouldn't buy a Total Stock Market fund

The problem with the Total Stock Market funds such as VTSMX (and with many other similar funds) is they are dollar weighted, not % weighted to large/small/growth/value. From vanguard's site: " Vanguard Total Stock Market Index Fund is designed to provide investors with exposure to the entire U.S. equity market, including small-, mid-, and large-cap growth and value stocks.  " It's true there are small value stocks in there, but by % of portfolio, those represent only a small fraction. For this reason I buy equal % large growth index and small value index, and do another % assignment to the emerging markets side. It's surprisingly tricky to figure out what % of the US stock market, by dollars, is Small Value. This may be representative way to determine what % is small value: Vanguard small value   VISVX  net assets: 1.95 billion Vanguard large growth VIGRSX: 86.4 billion vanguard large value VIVAX: 74.2 billion That means if you b...