Seth Klarman Interview

"What’s wonderful about Graham and Dodd is that their advice is timeless. And it is not just about investing; it’s also about thinking about investing. It basically teaches you the questions that you should ask, and it makes endless references to the foibles of human nature in the markets."

Here is the link:

http://www.alumni.hbs.edu/bulletin/2008/december/oneonone.html

Merry Christmas!

Tom Friedman calls for a reboot of America - but a society cannot be shut down and restart like your good old PC. A crisis is just what the doctor ordered. It will be a terrible waste if the crisis doesn't change anything.
http://www.nytimes.com/2008/12/24/opinion/24friedman.html?em

One thing is for sure - something have already been lost.
http://web.wenxuecity.com/BBSView.php?SubID=music&MsgID=439518

Keynes Moment

Minsky Moment brought out the moment for Keynes.
http://www.nytimes.com/2008/12/14/magazine/14wwln-lede-t.html

Race to The Bottom

Wal-Mart Employee Trampled to Death on "Black Friday":
http://www.nytimes.com/2008/11/29/business/29walmart.html?_r=1&em
It happened in Long Island - one of the richest place in the nation. Guess they are still trying to keep up with the Jones.

It is the process, stupid!

http://contrarianedge.com/2008/11/21/the-process/
"Successful investing is about following a successful, time-proven process in good and bad times (especially bad times). "

Depression Economics

"When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly."
http://www.nytimes.com/2008/11/14/opinion/14krugman.html?em

Marathon Day

http://www.nytimes.com/interactive/2008/10/27/sports/20081027_MARATHON_INTERACTIVE.html

How about local economics?
http://www.nytimes.com/2008/11/02/nyregion/connecticut/02streetct.html?ref=connecticut