Month: March 2009

If – Rudyard Kipling

If you can keep your head when all about you Are losing theirs and blaming it on you, If you can trust yourself when all men doubt you But make allowance for their doubting too, If you can wait and not be tired by waiting, Or being lied about, don’t deal in lies, Or being …

Quote of the Day 2009-3-24

As far as I’m concerned, rocket scientists [math PhDs who created derivative investments] should stick to building rockets. What Wall Street has got is salesmen who produce a contract that is unique, that no one else can price, and the client doesn’t understand. No one, in effect, can check on the contracts, and this creates …

Quantitative Easing: a primer

A primer on quantitative easing and what the Fed is trying to do: http://www.ft.com/cms/s/0/8ada2ad4-f3b9-11dd-9c4b-0000779fd2ac.html It’s a video, so here are the highlights if you can’t or don’t want to watch it: -normally central banks set interest rates to regulate monetary policy -interest rates cannot be below zero (it makes no sense for banks and would …

Restaurant Review: Aqua

Over the weekend, I went out to dinner at Aqua in San Francisco, on California and Battery. It is a two-star Michelin restaurant, which makes it supposedly one of the best restaurants in the Bay Area (only one Bay Area restaurant made three stars, which is considered good enough to travel to San Francisco just …

Quote of the Day 2009-3-14

A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook …