Saturday, September 12, 2015
If you are trying to outperform the market, mathematics dictates that you must deviate from the view of the crowd. For most people, being contrarian requires courage. ... To profit from courage, you often must have some cash on hand. Having that cash available when the crisis hits also requires courage because it's hard to sit on cash when markets are rising. The human urge to avoid missing out is a powerful one that can drive investors into the deadly grip of a stock market bubble.
-Tren Griffin, Charlie Munger: The Complete Investor
............................or, the myth of "quality time".......
"But people tend not to operate on cue. At least our moods and emotions don’t. We reach out for help at odd points; we bloom at unpredictable ones. The surest way to see the brightest colors, or the darkest ones, is to be watching and waiting and ready for them."
"There’s simply no real substitute for physical presence."
............comes the news that kids still don't want to eat their veggies.
“We’re advocating that the guidelines be supplemented with other efforts — taste testing, slicing fruits and vegetables to make them easier to eat, serving vegetables with a dip, recognizing what fruits and vegetables children already prefer,” she said. “We’re optimistic that in the long run, these guidelines will accomplish what they set out to do.”
Good luck with that.
Friday, September 11, 2015
......................................and this series of events is among them.
Please visit Cultural Offering and view this video.
The immediate aftermath........................
And now, at 1,776 feet tall, the new World Trade Center...............
Photo take on, or about, June 19, 2015.
Wednesday, September 9, 2015
....................................................connected yet inexplicable.
Ever since the dawn of civilization,” Stephen Hawking wrote in his international bestseller , “people have not been content to see events as unconnected and inexplicable. They have craved an understanding of the underlying order in the world.”
-Natalie Wolchover, as excerpted from here
"The idea of caring that someone is making money faster [than you] is one of the deadly sins. Envy is a really stupid sin because it's the only one you could never possibly have any fun at. There's a lot of pain and no fun. Why would you want to get on that trolley?"
“What is striking,” the investigators write, “is that simply being alone with their own thoughts for 15 minutes was apparently so aversive that it drove many participants to self-administer an electric shock that they had earlier said they would pay to avoid.”
-Fariss Samarrai, as excerpted from here
Tuesday, September 8, 2015
"Instead of relying on thousands of meandering pages of regulations, we should enforce a basic principle of 'skin in the game' when it comes to financial oversight. 'The captain goes down with the ship; every captain and every ship.' In other words, nobody should be in position to have the upside without sharing the downside, particularly when others may be harmed."
-Nassim Taleb, 2012
Fugger had a remarkable talent for investing. He knew better than the rest how to size up an opportunity and where to park his money for the best return at the least risk. He know how to run a business and mike it grow and how to get the most out of the people. He knew how to exploit weakness and negotiate for favorable terms. But perhaps his greatest talent was an ability to borrow the money he needed to invest. With what must have been enviable charm, he convinced cardinals, bishops, dukes and counts to loan him oceans of money. Without their support, Fugger would have been rich but no richer than the others at the club. The fundraising - and with it the courage to risk debtor's prison if he couldn't repay - explains why he went down in history be the name of Jacob the Rich. Financial leverage catapulted him to the top.
-Greg Steinmetz, The Richest Man Who Ever Lived: The Life and Times of Jacob Fugger
More on Jacob Fugger (1459-1525) here.
"It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent. There must be some wisdom in the folk saying, 'It's the strong swimmers who drown.' "
Monday, September 7, 2015
The Michael Stanley Band........................Midwest Midnight
So, quick, end-of-speech-advice. Since, according to me, your life is going to be a gradual process of becoming kinder and more loving: Hurry up. Speed it along. Start right now. There's a confusion in each of us, a sickness, really: selfishness. But there's also a cure.
Be a good and proactive and even somewhat desperate patient on your own behalf - seek out the most efficacious anti-selfishness medicines, energetically, for the rest of your life. Find out what makes you kinder, what opens you up and brings out the most loving, generous, and unafraid version of you - and go after those things as if nothing else matters.
Because, actually, nothing else does.
-George Saunders, Congratulations, by the way: Some Thoughts On Kindness
....................the daily goings-on in the stock market are more entertaining to me than important. This post from The Motley Fool seems, from the distance, accurate. Excerpt here:
Daily market prices are determined by computers in New Jersey fighting to be a billionth of a second closer to exchanges than other computers. Business values are determined by 7 billion people waking up every morning trying to better themselves. If you bet on the latter and laugh at the former, you've figured half this game out.
If this decline keeps up, it could be as bad as the 2011, 2010, and 2004 downturns that no one remembers or cares about anymore.
When no one knows what the economy or stock market will do next, people say there's high uncertainty. This is different from low uncertainty, when people think they know what the economy and stock market will do next, invariably followed by being wrong, which they blame on high uncertainty.
U.S. investors have $16 trillion in mutual funds. It sounds huge when they withdraw $20 billion, but it's a fraction of 1% of what's outstanding. Even during big downturns, "Nearly all investors do nothing; go about their day; couldn't care less about yuan devaluation" is the most accurate headline.
As faithful readers may attest, from time-to-time we have noted here that "normalcy is merely the psychosis of the majority." Captivated by the accordionist photo below (found first here), The Oracle Google was quickly perused for other "normal" images. A few selections:
|Barbie vs Reality|
Fundamentalists are literally out-breeding moderates within Islam, Roman Catholicism, Protestantism, Mormonism and Judaism. Ultra-Orthodox Israeli Jews have an average of 7.5 children; secular ones 2.2. In cities in Muslim countries, women who are most in favour of Sharia have twice as many children as women who most oppose it.
Fortunately, children often do the opposite of what their parents tell them, and religious revivals have a tendency to fade.
-Matt Ridley, as excerpted from this post on Europe's current "migration" crisis
“Kindness is a language which the deaf can hear and the blind can see.”
-attributed all over the Intertunnel to Mark Twain
Now, I'm not certain why people doubt that Twain said this, but many, lacking kindness, do. For instance, here. So, the search for accuracy via the internet (which may be a contradiction in terms), leads us to Christian Bovee, who may also have said this, "At all events, the next best thing to being witty one's self, is to be able to quote another's wit." Can I get an Amen?
Sunday, September 6, 2015
Bobby Lewis................................................Tossin' and Turnin'
........................Scott Adams discusses Donald Trump's (and Bill Clinton's) calculated use of language for political gain.
“Nice guy” is a linguistic sniper shot. It is engineered to take out its target without revealing where the shot came from. It is not a casual choice of words. It is deeply engineered.
Arnold Kling and Bryan Caplan offer a different take.
Everyone as if bosses have the better end. But talk is very different from action. If everyone were trying to start their own businesses and hire workers, that would count as “ as if bosses have the better end of the deal.”
It was hotish out yesterday afternoon when my Sweetie and I stopped by Muddy Misers for a late lunch. Next time you visit Zanesville, you should dine there.
|A simple glass of iced water is a thing of beauty on a warm summer day|
|My Sweetie says the light cod lunch is perfect|
|Hard to top a good old cheeseburger|
|Our view of the Muskingum River while we ate lunch. Life is good.|
|Muddy Misers never fails|