sfnhltb

5 ms·

1.
by sfnhltb 17y ago
From Warren's own words, if you are looking at the price of an asset from day to day, you aren't an investor - you are a speculator, and a speculator generally shouldn't be interested in his company as his investment philosophy is completel
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by sfnhltb 17y ago
I would think this is more like what happens in each individual on a given topic - you start off with little packets and eventually you integrate them into a map. How well you are at doing this depends on how good you are at linking the pac
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by sfnhltb 17y ago
Things like this where the costs are dominated by the need to build lots of infrastructure before you can even sell to your first customer are naturally uncompetitive, and even may be natural monopolies. Without significant competition priv
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by sfnhltb 17y ago
This sort of thing makes you wonder about how valuable protecting biodiversity is - how easily one of the hundreds of thousands of species being wiped out could be critical in allowing us to find out some key potential understanding of how
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by sfnhltb 17y ago
SO2 injection is just such a bad idea it is scary there are still people talking about it. The problem is even if you ignore the nasty side effects, as CO2 carries on rising you have to inject more and more SO2 every year to counter the inc
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by sfnhltb 17y ago
Yes, the problem really is the undefined "proportionality" clause which needs to reviewed by some body, and some broad guidelines need to be set of what isn't proportional. The vast majority of the uses are quite reasonable, but when indivi
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by sfnhltb 17y ago
Less fun, but it meant computers went from being a novelty to the core of the vast majority of businesses. This was not a coincidence.
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by sfnhltb 17y ago
I would have thought the idea that CDO sellers keeping the most vulnerable tranch protecting against cherry picking was a fairly obvious non-starter anyway. (The following will be massively oversimplified for easier explanation, but I think
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by sfnhltb 17y ago
I would especially recommend the chores thing - maybe this is relating to watching something on BBC3 where they dumped a load of 18-25 year olds still living at home into a house and essentially simulated them having to live on their own, m
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by sfnhltb 17y ago
I think the problem is largely standardized teaching - you set a syllabus that works for the median pupil, and depending on the deviation in ability most students might be in the range that it is ok. But at least a minority will be bored as
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by sfnhltb 17y ago
Although on the other hand you have to factor in the "General Purpose Technology", even within IT - some things are generally applicable and cause a great leap forward - things like Lotus 1-2-3, GUI/mouse, RDBMS, html/web, etc. (using older
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by sfnhltb 17y ago
Interesting that 87.5% of the players didn't cheat, and the one that did bid 0.3% of the supposed equilibrium price, but this is somehow supporting the theory put forward. It reminds me of the RAND corporation experiment, an economist and a
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by sfnhltb 17y ago
Yeah, I tried Evony for a while recently, and it has the same effects - it starts to interrupt your sleep because you don't want to risk not being there and someone attacks you. That is when you know you shouldn't be playing it any more. Ev
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by sfnhltb 17y ago
Except for every immigrant that comes in taking a job, they also come with an indivisible consumer unit that makes other people jobs. Strangely almost always in an average $1:1 ratio. This probably explains things like why the population of
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by sfnhltb 17y ago
Of course the slight problem is that the underlying axioms of capitalism/free marketism is that the only possible consumer is God, as you need to have perfect information about the entire universe so that you can make the correct transactio
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by sfnhltb 17y ago
This leads to the fundamental weakness of how governments are perceived of course - even if you make a really great law it has to be a "clear line", so it can't be complicated enough to cover every possibility - which means there will alway
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by sfnhltb 17y ago
Of course this works at the top and bottom - so you should also bid one dollar lower than the lowest if you think it is lower than everyone thought. This is all only true if you are bidding last, any time before that you should be honest* t
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by sfnhltb 17y ago
In politics what it usually means that while there can be advantages for two parties to tend towards the political centre, they always tend to keep enough distance between themselves to be clearly differentiated. The same logic still applie
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by sfnhltb 17y ago
I remember watching a program about venture capitalists and the internet bubble and some experienced VC talking about how many millions he had blown trying to get a scheme somewhat along these lines up and running. Maybe the increased preva