The UHNWI Summer List 2023

My artificial intelligence (AI) curiosity has me down a rabbit hole this week. I just gave up my weekend for a 3-day AI Summit because apparently, we will all ‘not be replaced by AI, (we) will be replaced by someone who uses AI.’ So, I’m using AI. Cautiously. And creatively.

Within just minutes, I created mural designs with MidJourney that generates images from natural language descriptions, called “prompts.” And I’ve asked ChatGPT to get me prepared for my daughter heading off to college next month, with the prompt: What does a 17-year-old teen heading off to college in Oregon need to be self-sufficient? (In case you’re wondering, she needs: personal documents, financial matters like a bank account, budgeting skills and a part-time job, housing, transportation, health and well-being essentials, school supplies, communication devices and a charger, cooking and dining plans, laundry supplies, and time management and organizational materials. Sounds about right.)

And, influenced by Tom McCullough’s blog about ChatGPT, I thought AI might also help with my work assignment, The UHNW Institute Summer Reading List. While I awaited ‘great reads and resources’ from all of you, ChatGPT recommended its own reading list for ‘an innovative, ultra-high-net-worth wealth manager or advisor:

• Thinking, Fast and Slow by Daniel Kahneman: Explores the cognitive biases that influence decision-making, providing insights into investor behavior and psychology.
• The Innovator’s Dilemma by Clayton M. Christensen: Examines disruptive innovation and how established companies can be overtaken by new technologies and business models.
• Principles: Life and Work by Ray Dalio: Outlines the principles and approaches that guided Dalio’s success in building Bridgewater Associates, one of the world’s largest hedge funds.
• The Psychology of Money by Morgan Housel: Explores the behavioral and psychological aspects of personal finance and investing, providing valuable insights into building wealth.
• Range: Why Generalists Triumph in a Specialized World by David Epstein: Explores the value of a multidisciplinary approach and the benefits of being a generalist in a rapidly changing world.
• Thinking, Systems: A Primer by Donella H. Meadows: Introduces systems thinking and highlights the interconnectedness of complex systems, providing a framework for analyzing and solving problems.
• Superforecasting: The Art and Science of Prediction by Philip E. Tetlock and Dan Gardner: Explores the skills and methods of expert forecasters, offering valuable insights into probabilistic thinking and improving predictions.

Now it’s your turn. Thank you to members of the faculty and Board who shared your work-related resources and guilty pleasures— a read, resource, or recommendation. We invite you to continue these discussions and provide recommendations to your colleagues on our Community Forum.

Enjoy The UHNW Institute Summer Reading List, a curated and eclectic resource of great reads, podcasts and faculty recommendations to fill your bookshelf or device this Summer.

Click here to download the PDF.

 

– Angelique LeDoux, The UHNW Institute Managing Editor