Friday, December 07, 2018


Snow is water, and ice is water, and water is water; these three are one.

-- Joseph Dare (1831 - 1880), Australian Wesleyan Church leader, Dictionary of Burning Words of Brilliant Writers, p. 285 (1895)

Thursday, December 06, 2018

He Said Xi Said

Unfortunately until we get new news the market continues to be a cauldron of concerns causing caution with investors.  With the combination of he said Xi said on China trade, a fear of an economic slowdown in 2019, and the slow trickle of Mueller investigation reports coming out, it is not at all surprising to see a buyer's strike in the after-hours market.

-- Art Hogan, Chief Market Strategist at investment bank B. Riley FBR, on negative signs in the overnight futures market, CNBC, 6 December 2018; the market fell 784 points during the day before rebounding for a loss of just 79

Wednesday, December 05, 2018


Throughout history, people have never before expected to be as comfortable as people do today.

-- Jens Risom (1916 - 2016), Danish American furniture designer, Block Island Times, Meet Jens Risom by Jane Vercelli, Spring 2010, House and Garden Edition, New Shoreham, Rhode Island USA

Tuesday, December 04, 2018

RIP Paul Sherwen

His legacy is that he made it entertaining.  It wasn't just sport and results.  He brought the race and the racers alive for the viewers.

-- Professional cycling announcer Phil Liggett, on the late Paul Sherwen (7 June 1956 - 2 December 2018), who completed his 40th Tour de France this summer (7 cycling, 33 announcing), Velonews, 3 December 2018

Monday, December 03, 2018

These Triggers

These triggers could be things like a visa restriction, a pandemic, a trade war -- something like that that was outside of our control.

Hedging the risk that we face gives us more confidence to be able to continue proactively investing in the very strong relationships that we have in China.  We chose the $60 million figure because that roughly is our exposure across the two colleges.  If demand had actually completely disappeared, we'd be "made whole" for that year.

-- Jeff Brown, dean of the Gies College of Business at the University of Illinois, describing insurance that would be triggered in the event of a 20% drop in revenue from Chinese students at the Business and Engineering colleges in a single year as a result of a "specific set of identifiable events."  Tuition revenue from Chinese students makes up about a fifth of the business college's revenue. Times Higher Education, 29 November 2018

Friday, November 30, 2018

A Book With Many Pages

I do not mistrust the future; I do not fear what is ahead.  For our problems are large, but our heart is larger.  Our challenges are great, but our will is greater.  And if our flaws are endless, God's love is truly boundless.

Some see leadership as high drama, and the sound of trumpets calling, and sometimes it is that.  But I see history as a book with many pages, and each day we fill a page with acts of hopefulness and meaning.  The new breeze blows, a page turns, the story unfolds.  And so today a chapter begins, a small and stately story of unity, diversity, and generosity -- shared, and written, together.

-- George Herbert Walker Bush (12 June 1924 - 30 November 2018), American politician who served as the 41st President of the United States (1989–93), and the 43rd Vice President of the United States (1981–89), Inaugural Address, 20 January 1989

Thursday, November 29, 2018

Newton Was The One

I'm not smart.  I try to observe.  Millions saw the apple fall but Newton was the one who asked why.

-- Bernard Mannes Baruch (1870 - 1965), American financier, stock market speculator, statesman, and presidential advisor, New York Post (24 June 1965)