Moshe Milevsky, a professor at York University, recommends thinking strategically about your “personal beta” for managing risk. That begins by evaluating your human capital, he advises in today’s Wall Street Journal. “It’s a measure of your future earnings, a product of what you’ve invested in yourself.” Good advice. In fact, evaluating your career risk is job one when considering how to modify the broad market portfolio. But even before you do that, you need a good definition of the market, and the usual suspects just won’t do.