All Blog entries from category Thoughts - mine and others
Blog entries: 3. All Blog entries are sorted chronologically.
U can’t always get what you want …
I just came across an older piece, but as it´s still funny, I want to share it with you;)
And, btw, it illustrates very nicely the entertaining way, in which American professors write academic books ... I love that;))
Back to topic: It is the favorite story of Robert Kirby of Capital Guardian Trust, quoted by Burton G. Malkiel on page 276 of his famous book „A Random Walk Down Wall Street“, to sum up his chapter about Modern Portfolio and Capital Asset Pricing-Theory, and as an illustrative example that it is important to know about all different kinds of risk measures for financial investments, because there will never be one genious investment advisor, who knows it all.
So how does he explain that dry matter?
Here you go:
A little old lady was sitting in her rocking chair on the porch of the retirement home when a little genie appeared and said, „I´ve decided to grant you three wishes.“
The little old lady answered, „Buzz off, you little twerp, I´ve seen all the wise guys I need in my life.“
The genie answered, „Look, I´m not kidding. This is for for real. Just trust me.“
She shrugged and said, „Okay, turn my rocking chair into solid gold.“
When, in a puff of smoke, he did it, her interest picked up noticeably. She said, „Turn me into a beautiful young maiden.“
Again, in a puff of smoke, he did it. Finally, she said, „Okay, for my third wish turn my cat into a handsome young prince.“
In an instant, there stood the young prince, who then turned to her and asked, „Now aren´t you sorry you had me fixed ?“
Read entry » |
Blog replies
- No related Blogs yet
Tags: No Tags available
What a difference … a century makes, 100 little years …
I got one of those emails the other day, where I can not resist but to share some of its content with you … and wonder, what examples you might cite.
So, imagine, it is the year 1906 in the U.S.. One hundred years ago. Incredible, what happened since:
The average life expectancy in the U.S. was 47 years, only 14 percent of the homes in the U.S. had a bathtub, and a mere 8 percent had a telephone.
A three-minute call from Denver to New York City cost eleven dollars … and compare that to the fact, that the average wage in the U.S. was 22 cents per hour, and the average U.S. worker made between $200 and $400 - per year.
By the way, sugar cost four cents a pound, coffee was fifteen cents a pound, and eggs were fourteen cents a dozen.
Interestingly, a competent accountant could expect to earn $2,000 per year, a dentist $2,500 per year, a veterinarian between $1,500 and $4,000 per year, and a mechanical engineer about $5,000 per year!
Talking about doctors … ninety percent of all U.S. doctors had no college education (instead, they attended so-called medical schools, many of which were condemned in the press and by the government as "substandard").
There were only 8,000 cars in the U.S., and only 144 miles of paved roads.
Alabama, Mississippi, Iowa, and Tennessee were each more heavily populated than California, which was, with a mere 1.4 million people, only the 21st most populous state in the Union (today, California as a country would the fourth largest economy, worldwide).
And the population of Las Vegas, Nevada, was only 30!!
The tallest structure in the world was … the Eiffel Tower!
Funny, but most women only washed their hair once a month. Wonder, how that smelled.
Two out of every 10 U.S. adults couldn't read or write, and only 6 percent of all Americans had graduated from high school.
Eighteen percent of households in the U.S. had at least one full-time servant or domestic help. Those where the days ;)
There were about 230 reported murders in the entire U.S. – though I suspect, the important word here is “reported”.
And last, but not least …. marijuana, heroin, and morphine were all available over the counter at the local corner drugstores. Back then pharmacist said, "Heroin clears the complexion, gives buoyancy to the mind, regulates the stomach and bowels, and is, in fact, a perfect guardian of health."
And now it´s up to you ;)
Read entry » |
Blog replies
- No related Blogs yet
Tags: No Tags available
Not a new text, but still good "food" for a quiet winter evening ... and even better, if you listen to it via the song "Sunscreen", that Baz Luhrmann made out of it ;)
ADVICE, LIKE YOUTH, PROBABLY JUST WASTED ON THE YOUNG
Mary Schmich, June 1th 1997 (The Chicago Tribune)
Wear sunscreen.
If I could offer you only one tip for the future, sunscreen would be it. The long-term benefits of sunscreen have been proved by scientists, whereas the rest of my advice has no basis more reliable than my own meandering experience. I will dispense this advice now.
Enjoy the power and beauty of your youth. Oh, never mind. You will not understand the power and beauty of your youth until they've faded. But trust me, in 20 years, you'll look back at photos of yourself and recall in a way you can't grasp now how much possibility lay before you and how fabulous you really looked. You are not as fat as you imagine.
Don't worry about the future. Or worry, but know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum. The real troubles in your life are apt to be things that never crossed your worried mind, the kind that blindside you at 4 p.m. on some idle Tuesday.
Do one thing every day that scares you.
Sing.
Don't be reckless with other people's hearts. Don't put up with people who are reckless with yours.
Floss.
Don't waste your time on jealousy. Sometimes you're ahead, sometimes you're behind. The race is long and, in the end, it's only with yourself.
Remember compliments you receive. Forget the insults. If you succeed in doing this, tell me how.
Keep your old love letters. Throw away your old bank statements.
Stretch.
Don't feel guilty if you don't know what you want to do with your life. The most interesting people I know didn't know at 22 what they wanted to do with their lives. Some of the most interesting 40-year-olds I know still don't.
Get plenty of calcium. Be kind to your knees. You'll miss them when they're gone.
Maybe you'll marry, maybe you won't. Maybe you'll have children, maybe you won't. Maybe you'll divorce at 40, maybe you'll dance the funky chicken on your 75th wedding anniversary. Whatever you do, don't congratulate yourself too much, or berate yourself either. Your choices are half chance. So are everybody else's.
Enjoy your body. Use it every way you can. Don't be afraid of it or of what other people think of it. It's the greatest instrument you'll ever own.
Dance, even if you have nowhere to do it but your living room.
Read the directions, even if you don't follow them.
Do not read beauty magazines. They will only make you feel ugly.
Get to know your parents. You never know when they'll be gone for good. Be nice to your siblings. They're your best link to your past and the people most likely to stick with you in the future.
Understand that friends come and go, but with a precious few you should hold on. Work hard to bridge the gaps in geography and lifestyle, because the older you get, the more you need the people who knew you when you were young.
Live in New York City once, but leave before it makes you hard. Live in Northern California once, but leave before it makes you soft. Travel.
Accept certain inalienable truths: Prices will rise. Politicians will philander. You, too, will get old. And when you do, you'll fantasize that when you were young, prices were reasonable, politicians were noble and children respected their elders.
Respect your elders.
Don't expect anyone else to support you. Maybe you have a trust fund. Maybe you'll have a wealthy spouse. But you never know when either one might run out.
Don't mess too much with your hair or by the time you're 40 it will look 85.
Be careful whose advice you buy, but be patient with those who supply it. Advice is a form of nostalgia. Dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it's worth.
But trust me on the sunscreen.
What do you think? Good thoughts, good advice?
Where do you see yourself? Where do you differ? Tell me;)
Read entry » |
Blog replies
- No related Blogs yet
|
|
|
