We are at the very beginning of time for the human race. It is not unreasonable that we grapple with problems. But there are tens of thousands of years in the future. Our responsibility is to do what we can, learn what we can, improve the solutions, and pass them on.
-- Richard Feynman (11 May 1918 - 15 February 1988), Nobel-prize winning American physicist and writer
Wednesday, December 31, 2008
Tuesday, December 30, 2008
New Year
Monday, December 29, 2008
How Different
Friday, December 19, 2008
Thursday, December 18, 2008
Kindness
Wednesday, December 17, 2008
Tuesday, December 16, 2008
Greatest Gift
Monday, December 15, 2008
Friday, December 12, 2008
Permanently Personal
Thursday, December 11, 2008
Too Busy
We are always too busy for our children; we never give them the time or interest they deserve. We lavish gifts upon them; but the most precious gift -- our personal association -- which means so much to them, we give grudgingly.
-- Mark Twain, pseudonym of Samuel Clemens (1835-1910), American writer and humorist
-- Mark Twain, pseudonym of Samuel Clemens (1835-1910), American writer and humorist
Wednesday, December 10, 2008
Sincerely
Dear Sir or Madam,
We are writing to let you know that computer tapes containing some of your personal information were lost while being transported to an off-site storage facility by our archive services vendor. While we have no reason to believe that this information has been accessed or used inappropriately, we deeply regret that this incident occurred and we wanted to explain the precautionary steps we have taken to help protect you. ...
Protecting the confidentiality of this information - and all of our clients' information - has long been a top priority at The Bank of New York Mellon. However, in late February 2008, our archive services vendor notified us that they could not account for one of several boxes of data backup tapes being transported to an off-site storage facility. The missing tapes held certain personal information, such as your name, address, Social Security number and/or shareowner account information. ...
Sincerely, Investor Care Response Team
We are writing to let you know that computer tapes containing some of your personal information were lost while being transported to an off-site storage facility by our archive services vendor. While we have no reason to believe that this information has been accessed or used inappropriately, we deeply regret that this incident occurred and we wanted to explain the precautionary steps we have taken to help protect you. ...
Protecting the confidentiality of this information - and all of our clients' information - has long been a top priority at The Bank of New York Mellon. However, in late February 2008, our archive services vendor notified us that they could not account for one of several boxes of data backup tapes being transported to an off-site storage facility. The missing tapes held certain personal information, such as your name, address, Social Security number and/or shareowner account information. ...
Sincerely, Investor Care Response Team
Tuesday, December 09, 2008
Valuable Thing
If ... they're not going to offer anything of any value, then I might just take it. ... I'm going to keep this Senate option for me a real possibility, you know, and therefore I can drive a hard bargain. ... [The seat] is a [expletive] valuable thing, you just don't give it away for nothing.
-- Democratic Illinois Governor Rod Blagojevich, in wiretaps discussing the open senate seat of Barack Obama, according to a press release from US Attorney Peter Fitzgerald announcing Blagojevich's arrest, 9 December 2008
-- Democratic Illinois Governor Rod Blagojevich, in wiretaps discussing the open senate seat of Barack Obama, according to a press release from US Attorney Peter Fitzgerald announcing Blagojevich's arrest, 9 December 2008
Monday, December 08, 2008
Madman
Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.
-- Kenneth Boulding (1910-1993), economist, educator, peace activist, and poet
-- Kenneth Boulding (1910-1993), economist, educator, peace activist, and poet
Friday, December 05, 2008
Creative Art Is Magic
All creative art is magic, is evocation of the unseen in forms persuasive, enlightening, familiar and surprising, for the edification of mankind, pinned down by the conditions of its existence to the earnest consideration of the most insignificant tides of reality.
-- Joseph Conrad (1857-1924), Polish-born English novelist
-- Joseph Conrad (1857-1924), Polish-born English novelist
Thursday, December 04, 2008
Art
Art is making something out of nothing and selling it.
-- Frank Zappa (21 December 1940 - 4 December 1993), American composer, guitarist, record producer, and film director
-- Frank Zappa (21 December 1940 - 4 December 1993), American composer, guitarist, record producer, and film director
Wednesday, December 03, 2008
Lest We Mock
He shall mark our goings, question whence we came,
Set his guards about us, as in Freedom's name.
He shall peep and mutter, and night shall bring
Watchers 'neath our window, lest we mock the King.
-- Rudyard Kipling (1865-1936), author, Nobel laureate
Set his guards about us, as in Freedom's name.
He shall peep and mutter, and night shall bring
Watchers 'neath our window, lest we mock the King.
-- Rudyard Kipling (1865-1936), author, Nobel laureate
Tuesday, December 02, 2008
Recession
Monday, December 01, 2008
More Terrifying
Friday, November 21, 2008
Greatest Of Virtues
Thursday, November 20, 2008
GM
Wednesday, November 19, 2008
Promises
Tuesday, November 18, 2008
Keys To The Kingdom
He who is able to fix the public utilities holds the keys to the kingdom in terms of winning the support of the Iraqi people and ultimately ending this conflict.
-- Army Sgt. Alex J. Plitsas, on conditions in the Sadr City section of Baghdad, New York Times, 22 April 2008
-- Army Sgt. Alex J. Plitsas, on conditions in the Sadr City section of Baghdad, New York Times, 22 April 2008
Monday, November 17, 2008
Stand Up
This vote shows that the Iraqis have figured out how to stand up for themselves, to Iran and to the U.S.
-- Michael O'Hanlon, specialist in Iraq at the Brookings Institution, on the Iraqi cabinet's approval of a security agreement calling for a full withdrawal of American forces by the end of 2011, New York Times, 17 November 2008
-- Michael O'Hanlon, specialist in Iraq at the Brookings Institution, on the Iraqi cabinet's approval of a security agreement calling for a full withdrawal of American forces by the end of 2011, New York Times, 17 November 2008
Friday, November 14, 2008
Well-Laid Plan
A well-laid business plan is no guarantee against the disappearance of the industry on which it is based.
-- Tim Cavanaugh, American libertarian writer and editor, Reason Online, May 2003
-- Tim Cavanaugh, American libertarian writer and editor, Reason Online, May 2003
Thursday, November 13, 2008
Grieving
Wednesday, November 12, 2008
Cure Every Ill
Tuesday, November 11, 2008
Greed
Politicians never accuse you of "greed" for wanting other people's money -- only for wanting to keep your own money.
-- Joseph Sobran (1946-). American journalist and writer
-- Joseph Sobran (1946-). American journalist and writer
Monday, November 10, 2008
Graffito
Seen November 5 On a Handmade Sign in West Philly
Rosa had to sit so Martin could walk,
Martin had to walk so Barack could run,
Barack had to run so our children can fly.
-- Scott Paul, in The Washington Note blog
Rosa had to sit so Martin could walk,
Martin had to walk so Barack could run,
Barack had to run so our children can fly.
-- Scott Paul, in The Washington Note blog
Friday, November 07, 2008
RIP Studs Terkel
Thursday, November 06, 2008
RIP Michael Crichton
We are all assumed, these days, to reside at one extreme of the opinion spectrum, or another. We are pro-abortion or anti-abortion. We are free traders or protectionist. We are pro-private sector or pro-big government. We are feminists or chauvinists. But in the real world, few of us hold these extreme views. There is instead a spectrum of opinion.
-- Dr. John Michael Crichton (23 October 1942 - 4 November 2008), American author, film & TV producer, "Mediasaurus: The decline of conventional media" - Speech at the National Press Club, Washington D.C. (7 April 1993)
-- Dr. John Michael Crichton (23 October 1942 - 4 November 2008), American author, film & TV producer, "Mediasaurus: The decline of conventional media" - Speech at the National Press Club, Washington D.C. (7 April 1993)
Wednesday, November 05, 2008
Obama Victorious
This victory alone is not the change we seek; it is only the chance for us to make that change.
-- President-elect Barack Obama, in his victory speech, 4 November 2008
Whatever our differences, we are fellow Americans. And please believe me when I say no association has ever meant more to me than that.
-- Republican presidential candidate Senator John McCain, concession speech, 4 November 2008
No matter how they cast their ballot, all Americans can be proud of the history that was made yesterday,
-- Out-going president George W. Bush, regarding Obama's victory, 5 November 2008
--
In Piatt County, IL where I live, McCain won with 4988 votes (55%) to Obama's 3856 votes (43%).
In Champaign County, IL where I work, Obama won with 48,351 votes (58%) to McCain's 33,748 votes (40%).
Of the 8 times that I have voted in a presidential election, this marks just the second time that the candidate I voted for has won. No wonder I'm a cynic about national politics.
-- President-elect Barack Obama, in his victory speech, 4 November 2008
Whatever our differences, we are fellow Americans. And please believe me when I say no association has ever meant more to me than that.
-- Republican presidential candidate Senator John McCain, concession speech, 4 November 2008
No matter how they cast their ballot, all Americans can be proud of the history that was made yesterday,
-- Out-going president George W. Bush, regarding Obama's victory, 5 November 2008
--
In Piatt County, IL where I live, McCain won with 4988 votes (55%) to Obama's 3856 votes (43%).
In Champaign County, IL where I work, Obama won with 48,351 votes (58%) to McCain's 33,748 votes (40%).
Of the 8 times that I have voted in a presidential election, this marks just the second time that the candidate I voted for has won. No wonder I'm a cynic about national politics.
Tuesday, November 04, 2008
Monday, November 03, 2008
Don't Have To Think
Thursday, October 30, 2008
People Might Remember
Wednesday, October 29, 2008
Politician Vs. Statesman
Tuesday, October 28, 2008
Guide Your Luck
Monday, October 27, 2008
Informed Voters
Friday, October 24, 2008
Talk Sense
Let's talk sense to the American people. Let's tell them the truth, that there are no gains without pains, that we are now on the eve of great decisions, not easy decisions, like resistance when you're attacked, but a long, patient, costly struggle which alone can assure triumph over the great enemies of man -- war, poverty, and tyranny -- and the assaults upon human dignity which are the most grievous consequences of each.
-- Adlai Stevenson, acceptance speech, Democratic National Convention, Chicago, IL, 26 July 1952
-- Adlai Stevenson, acceptance speech, Democratic National Convention, Chicago, IL, 26 July 1952
Thursday, October 23, 2008
Victory, Not Truth
Wednesday, October 22, 2008
Distorted
Tuesday, October 21, 2008
Lahde Duh
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.
I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
On the issue of the U.S. Government, I would like to point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reined in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it.
With that I say goodbye and good luck.
All the best,
Andrew Lahde
-- Andrew Lahde of Lahde Capital Management, farewell letter (abridged) on his retirement (age ~38) after his fund earned 866% return in 2007 betting on the collapse of the subprime mortgage industry, Financial Times, 17 October 2008
I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
On the issue of the U.S. Government, I would like to point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reined in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it.
With that I say goodbye and good luck.
All the best,
Andrew Lahde
-- Andrew Lahde of Lahde Capital Management, farewell letter (abridged) on his retirement (age ~38) after his fund earned 866% return in 2007 betting on the collapse of the subprime mortgage industry, Financial Times, 17 October 2008
Monday, October 20, 2008
Orthodoxy
As gifted as he is, he is essentially going to execute the Republican agenda, the orthodoxy of the Republican agenda, with a new face and a maverick approach to it, and he'd be quite good at it. But I think we need a generational change.
-- Colin L. Powell, discussing Senator John McCain, and endorsing Senator Barack Obama, New York Times, 20 October 2008
-- Colin L. Powell, discussing Senator John McCain, and endorsing Senator Barack Obama, New York Times, 20 October 2008
Friday, October 17, 2008
In Defense Of Cheating
[O]ur current educational methods ... test by requiring students to prove that they can regurgitate the information presented in class without assistance from others .... But in real life, asking others for help is not only permitted, it is encouraged. Why not rethink the entire purpose of our examination system? We should be encouraging students to learn how to use all possible resources to come up with effective answers to important problems. Students should be encouraged to ask others for help, and they should also be taught to give full credit to those others. So, the purpose of this contribution to Ubiquity is to offer an alternative approach: to examine the origins of cheating, and by solving the root cause, to simultaneously reduce or eliminate cheating while enhancing learning.
-- Donald A. Norman, Professor of Computer Science, Northwestern University, Ubiquity, Volume 6, Issue 11, 29 September 2008
http://www.acm.org/ubiquity/views/v6i11_norman.html
-- Donald A. Norman, Professor of Computer Science, Northwestern University, Ubiquity, Volume 6, Issue 11, 29 September 2008
http://www.acm.org/ubiquity/views/v6i11_norman.html
Thursday, October 16, 2008
Duly Rise
Wednesday, October 15, 2008
Cinderella At The Ball
The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities -- that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future -- will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands.
-- Warren Edward Buffett (30 August 1930-), American investor, CEO of Berkshire Hathaway, Berkshire Hathaway 2000 Chairman's Letter
-- Warren Edward Buffett (30 August 1930-), American investor, CEO of Berkshire Hathaway, Berkshire Hathaway 2000 Chairman's Letter
Tuesday, October 14, 2008
Plenty There
Monday, October 13, 2008
Lack
I'm glad I didn't have to fight in any war. I'm glad I didn't have to pick up a gun. I'm glad I didn't get killed or kill somebody. I hope my kids enjoy the same lack of manhood.
-- Tom Hanks
-- Tom Hanks
Friday, October 10, 2008
Market Boom
... [Yesterday's 7+%] declines [in the Dow and Standard & Poor's 500] came on the one-year anniversary of the closing highs of the Dow and the S&P. The Dow has lost 5,585 points, or 39.4 percent, since closing at 14,198 on Oct. 9, 2007. The S&P 500, meanwhile, is off 655 points, or 41.9 percent, since recording its high of 1,565.15.
U.S. stock market paper losses totaled $872 billion Thursday and the value of shares overall has tumbled a stunning $8.33 trillion since last year's high. That's based on preliminary figures measured by the Dow Jones Wilshire 5000 Composite Index, which tracks 5,000 U.S.-based companies' stocks and represents almost all stocks traded in America.
[snip]
From Yahoo News
... and then there's today ....
U.S. stock market paper losses totaled $872 billion Thursday and the value of shares overall has tumbled a stunning $8.33 trillion since last year's high. That's based on preliminary figures measured by the Dow Jones Wilshire 5000 Composite Index, which tracks 5,000 U.S.-based companies' stocks and represents almost all stocks traded in America.
[snip]
From Yahoo News
... and then there's today ....
Thursday, October 09, 2008
Artificial Boom
True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late.
Ludwig von Mises (1881-1973) Austrian economist
Ludwig von Mises (1881-1973) Austrian economist
Wednesday, October 08, 2008
Knife Fight
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