Amp Stock Quotes

What do you want?" Sophronia was moved to exasperation. "Me? Stockings and breeches to come back in fashion. I do miss seeing a man's calves.

So you say. I just hope you don’t catch some exotic dinosaur ailment because Eustis probably doesn’t stock the right pills to treat it.

Real investors talk more about business than about stock prices. Real investors are reading company P&L statements and Balance Sheets and getting on Earnings Calls. Real investors are learning about customers and attending meetings and getting involved.

We owned a garden on a hill, We planted rose and daffodil, Flowers that English poets sing, And hoped for glory in the Spring. We planted yellow hollyhocks, And humble sweetly-smelling stocks, And columbine for carnival, And dreamt of Summer's festival. And Autumn not to be outdone As heiress of the summer sun, Should doubly wreathe her tawny head With poppies and with creepers red. We waited then for all to grow, We planted wallflowers in a row. And lavender and borage blue, - Alas! we waited, I and you, But love was all that ever grew.

there really is no intelligent reason to increase your trading size if your positions are showing losses.

You see, in the Czech Republic, on December fifth, St. Nicholas goes around bringing candy and small gifts to children, accompanied by an angel and a devil. In a holiday tradition that is the stuff of nightmares, the devil threatens to scoop bad children into his sack and carry them to hell. (And you thought coal in your stocking was harsh?)

To compound your money, and not your mistakes, your goal is to buy on the way up—not on the way down.

A surprising fact about the magician Bernard Kornblum, Joe remembered, was that he believed in magic. Not in the so-called magic of candles, pentagrams, and bat wings. Not in the kitchen enchantments of Slavic grandmothers with their herbiaries and parings from the little toe of a blind virgin tied up in a goatskin bag. Not in astrology, theosophy, chiromancy, dowsing rods, séances, weeping statues, werewolves, wonders, or miracles. What bewitched Bernard Kornblum, on the contrary, was the impersonal magic of life, when he read in a magazine about a fish that could disguise itself as any one of seven different varieties of sea bottom, or when he learned from a newsreel that scientists had discovered a dying star that emitted radiation on a wavelength whose value in megacycles approximated π. In the realm of human affairs, this type of enchantment was often, though not always, a sadder business—sometimes beautiful, sometimes cruel. Here its stock-in-trade was ironies, coincidences, and the only true portents: those that revealed themselves, unmistakable and impossible to ignore, in retrospect.

it’s better to lose correctly than to win incorrectly.

Time to figure out if I need to buy stock in Smith & Wesson or Magnum

Here is an all-too-brief summary of Buffett’s approach: He looks for what he calls “franchise” companies with strong consumer brands, easily understandable businesses, robust financial health, and near-monopolies in their markets, like H & R Block, Gillette, and the Washington Post Co. Buffett likes to snap up a stock when a scandal, big loss, or other bad news passes over it like a storm cloud—as when he bought Coca-Cola soon after its disastrous rollout of “New Coke” and the market crash of 1987. He also wants to see managers who set and meet realistic goals; build their businesses from within rather than through acquisition; allocate capital wisely; and do not pay themselves hundred-million-dollar jackpots of stock options. Buffett insists on steady and sustainable growth in earnings, so the company will be worth more in the future than it is today.

Losers average losers.

Specialists get paid well, while those who know a little about many things make good conversation at parties.

It’s not enough to have knowledge, a dream, or passion; it’s what you do with what you know that counts. The best time to get started is now!

3 qualities of a good investor; Knowledge Courage & Patience.

3 qualities of a good management; Honest Hungry & Smart.

As a general rule if anyone ever asks yout to put stockings on a ninety- year old deceased Romanian woman with edema, your answer should be no.

Save wealth but never assume it removes all calamity, When riches forsake, amassed stock dwindles rapidly. [7] 1.7 Chanakya

I love supporting the blue-chip companies’ revival. Shows wise when you are on the top and you are still not ignorant & arrogant to realise your weaknesses.

When you look in the mirror/take stock of your soul/and when you hear my voice, remember/you ruined me whole.

They have not walked in your shoes; don’t put much stock in their opinions.

Here its stock-in-trade was ironies, coincidences, and the only true portents: those that revealed themselves, unmistakable and impossible to ignore, in retrospect.

By 2060, India’s economy is projected to be larger than China’s because of its greater population growth. India is forecast to produce about one-quarter of world GDP from 2040 through the rest of this century.

And I hope that all my readers are acquainted with an old English Cathedral town or I fear the significance of Mr Norrell’s chusing that particular place will be lost upon them. They must understand that in an old Cathedral town the great old church is not one building among many; it is the building - different from all others in scale, beauty, and solemnity. Even in modern times when an old Cathedral town may have provided itself with all the elegant appurtenances of civic buildings, assembly and meeting rooms (and York was well-stocked with these) the Cathedral rises above them - a witness to the devotion of our forefathers. It is as if the town contains within itself something larger than itself. When going about ones business in the muddle of narrow streets one is sure to lose sight of the Cathedral, but then the town will open out and suddenly it is there, many times taller and many times larger than any other building, and one realizes that one has reached the heart of the town and that all streets and lanes have in some way led here, to a place of mysteries much deeper than any Mr Norrell knew of. Such were Mr Segundus’s thoughts as he entered the Close and stood before the great brooding blue shadow of the Cathedral’s west face.

When you look in the mirror Take stock of your soul And when you hear my voice, remember You ruined me whole And, baby, when you think of me I hope it ruins rock ’n’ roll One day, you’ll regret it I’ll make sure of it before I go

Chicken stock for saltiness. White wine for acidity. Butter for creaminess. Parmigiano-Reggiano for nuttiness. A pinch of saffron for earthiness and color. And the licorice powder? That's to add an unexpected hint of sweetness. Perfectly balanced.

Behind his bedroom door, he can sit and put Hall & Oates on the record player in the corner, and nobody hears him humming along like his dad to "Rich Girl." He can wear the reading glasses he always insists he doesn't need. He can make as many meticulous study guides with color-coded sticky notes as he wants. He's not going to be the youngest elected congressman in modern history without earning it, but nobody needs to know how hard he's kicking underwater. His sex symbol stock would plummet.

That widow’s peak is preposterous. God. It really makes you feel the sad dearth of widow’s peaks in daily life. We could, like, use him as breeding stock to seed widow’s peaks into the populace.”“My god. What’s with all the mating and seed talk?”“I’m just saying,” Zuzana said reasonably. “I’m crazy about Mik, okay, but that doesn’t mean I can’t do my part for the proliferation of widow’s peaks. As a favor to the gene pool. You would, too, right? Or maybe…” She shot Karou a sidelong glance. “You already have?

Birthdays are a time when one stock takes, which means, I suppose, a good spineless mope: I scan my horizon and can discern no sail of hope along my own particular ambition. I tell you what it is: I'm quite in accord with the people who enquire 'What is the matter with the man?' because I don't seem to be producing anything as the years pass but rank self indulgence. You know that my sole ambition, officially at any rate, was to write poems & novels, an activity I never found any difficulty fulfilling between the (dangerous) ages of 17-24: I can't very well ignore the fact that this seems to have died a natural death. On the other hand I feel regretful that what talents I have in this direction are not being used. Then again, if I am not going to produce anything in the literary line, the justification for my selfish life is removed - but since I go on living it, the suspicion arises that the writing existed to produce the life, & not vice versa. And as a life it has very little to recommend it: I spend my days footling in a job I care nothing about, a curate among lady-clerks; I evade all responsibility, familial, professional, emotional, social, not even saving much money or helping my mother. I look around me & I see people getting on, or doing things, or bringing up children - and here I am in a kind of vacuum. If I were writing, I would even risk the fearful old age of the Henry-James hero: not fearful in circumstance but in realisation: because to me to catch, render, preserve, pickle, distil or otherwise secure life-as-it-seemed for the future seems to me infinitely worth doing; but as I'm not the entire morality of it collapses. And when I ask why I'm not, well, I'm not because I don't want to: every novel I attempt stops at a point where I awake from the impulse as one might awake from a particularly-sickening nightmare - I don't want to 'create character', I don't want to be vivid or memorable or precise, I neither wish to bathe each scene in the lambency of the 'love that accepts' or be excoriatingly cruel, smart, vicious, 'penetrating' (ugh), or any of the other recoil qualities. In fact, like the man in St Mawr, I want nothing. Nothing, I want. And so it becomes quite impossible for me to carry on. This failure of impulse seems to me suspiciously like a failure of sexual impulse: people conceive novels and dash away at them & finish them in the same way as they fall in love & will not be satisfied till they're married - another point on which I seem to be out of step. There's something cold & heavy sitting on me somewhere, & until something budges it I am no good.

If you don’t have a plan, you will surely experience paralyzing emotions and second-guess yourself at key decision-making moments.

Luck is a short-term phenomenon. In the long run, luck is for losers.

Not losing big is the single most important factor for winning big. As a speculator, losing is not a choice, but how much you lose is.

Those who succeed big at anything all have the same attitude: You keep going until it happens or you die trying. Quitting is not an option.

Mastery requires sacrifices; therefore, something must come first. Make a list, prioritize, and pursue accordingly: Focus, achieve, and then move to the next big goal.

the CLUM principle; comfortable equals less and uncomfortable equals more.

Trading is serious business with real money on the line. Why would you go into it without a well-thought-out plan of action? Yet, most people do.

Multibagger mantra; find companies which are small in size: Medium in experience Large in aspiration & having an extra large market potential.

As a general rule, if anyone ever asks you to put stockings on a ninety-year old deceased Romanian woman with oedema, your answer should be no.

Two of the things to look out for are that operational cash flows should match or be close to profit levels, and current assets should exceed current liabilities.

They did not stock any modern, violent crime novels, especially ones that contained bad language.

Buy & hold stock in companies where you love the product roadmap, sell where you don’t." 11/18/2020

Every year Buffett explains that he wants Berkshire to have great long-term shareholders and that splitting the stock would only work against that.

The valuation picture is very much affected by our zero-based interest rate structure. Clearly, stocks are worth far more when government bonds yield 1% than when they yield 5%.

Yet he knew that stocks would be better than bonds or cash over the long run.

You’re not gonna believe what just happened to me,” Jase says the minute I flip my cell open, taking advantage of break at the B&T. I turn away from the picture window just in case Mr. Lennox, disregarding the break sign, will come dashing out to slap me with my first-ever demerit. “Try me.” His voice lowers. “You know how I put that lock on the door of my room? Well, Dad noticed it. Apparently. So today, I’m stocking the lawn section and he comes up and asks why it’s there.” “Uh-oh.” I catch the attention of a kid sneaking into the hot tub (there’s a strict no-one-under-sixteen policy) and shake my head sternly. He slinks away. Must be my impressive uniform. “So I say I need privacy sometimes and sometimes you and I are hanging out and we don’t want to be interrupted ten million times.” “Good answer.” “Right. I think this is going to be the end of it. But then he tells me he needs me in the back room to have a ‘talk.’” “Uh-oh again.” Jase starts to laugh. “I follow him back and he sits me down and asks if I’m being responsible. Um. With you.” Moving back into the shade of the bushes, I turn even further away from the possible gaze of Mr. Lennox. “Oh God.” “I say yeah, we’ve got it handled, it’s fine. But, seriously? I can’t believe he’s asking me this. I mean, Samantha. Jesus. My parents? Hard not to know the facts of life and all in this house. So I tell him that we’re moving slowly and—” “You told him that?” God, Jase! How am I ever going to look Mr. Garret in the eye again? Help. “He’s my dad, Samantha. Yeah. Not that I didn’t want to exit the conversation right away, but still . . .” “So what happened then?” “Well, I reminded him they’d covered that really thoroughly in school, not to mention at home, and we weren’t irresponsible people.” I close my eyes, trying to imagine having this conversation with my mother. Inconceivable. No pun intended. “So then . . . he goes on about”—Jase’s voice drops even lower—“um . . . being considerate and um . . . mutual pleasure.” “Oh my god! I would’ve died. What did you say?” I ask, wanting to know even while I’m completely distracted by the thought. Mutual pleasure, huh? What do I know about giving that? What if Shoplifting Lindy had tricks up her sleeve I know nothing about? It’s not like I can ask Mom. “State senator suffers heart attack during conversation with daughter.” “I said ‘Yes sir’ a lot. And he went on and on and on and all I could think was that any minute Tim was gonna come in and hear my dad saying things like, ‘Your mom and I find that . . . blah blah blah.’” I can’t stop laughing. “He didn’t. He did not mention your mother.” “I know!” Jase is laughing too. “I mean . . . you know how close I am to my parents, but . . . Jesus.

In a holiday tradition that is the stuff of nightmares, the devil threatens to scoop bad children into his sack and carry them to hell. (And you thought coal in your stocking was harsh?)

In Chinatown, a large rock painted with a message— CHINESE GO HOME!— shattered the front window of Chong & Sons, Jewellers. An arsonist’s fire gutted the Wing Sing restaurant overnight; Mr. Wing stood in the softly falling wisps of soot-flecked snow, his sober face backlit by the orange glow as he watched everything he’d built burn to the ground. […] Fear was everywhere. At a eugenics conference in the elegant ballroom of the Waldorf-Astoria Hotel, genteel men in genteel suits spoke of “the mongrel problem— the ruin of the white race.” They pointed to drawings and diagrams that proved most disease could be traced to inferior breeding stock. They called this science. They called it fact. They called it patriotism. People drank their coffee and nodded in agreement.

If you are trading S&P 500 stocks, for example, the average transaction cost (excluding commissions, which depend on your brokerage) would be about 5 basis points (that is, five-hundredths of a percent).

Investors who focus on currencies, bonds, and stock markets generally assume a normal distribution of price changes: values jiggle up and down, but extreme moves are unusual. Of course, extreme moves are possible, as financial crashes show. But between 1985 and 2015, the S&P 500 stock index budged less than 3 percent from its starting point on 7,663 out of 7,817 days; in other words, for fully 98 percent of the time, the market is remarkably stable.

Buffett reminded folks that to buy a stock is to buy part ownership of a business. Don’t get hung up on daily price quotes. Instead, think about business performance and what you would pay for the business, just as you would a farm.

Prince Aenys was the first to marry. In 22 AC, he wed the Lady Alyssa, the maiden daughter of the Lord of the Tides, Aethan Velaryon, King Aegon’s lord admiral and master of ships. She was fifteen, the same age as the prince, and shared his silvery hair and purple eyes as well, for the Velaryons were an ancient family descended from Valyrian stock. King Aegon’s own mother had been a Velaryon, so the marriage was reckoned one of cousin to cousin. fruitful. The following year, Alyssa gave birth to a daughter. Prince Aenys named her Rhaena, in honor of his mother. Like her father, the girl was small at birth, but unlike him she proved to be a happy, healthy child, with lively lilac eyes and hair that shone like beaten silver.

Long-term success in the stock market has nothing to do with hope or luck. Winning stock traders have rules and a well-thought-out plan. Conversely, losers lack rules, or if they have rules, they don’t stick to them for very long; they deviate.

For a number of years, professors at Duke University conducted a survey in which the chief financial officers of large corporations estimated the returns of the Standard & Poor’s index over the following year. The Duke scholars collected 11,600 such forecasts and examined their accuracy. The conclusion was straightforward: financial officers of large corporations had no clue about the short-term future of the stock market; the correlation between their estimates and the true value was slightly less than zero!

If you buy an S&P 500 index fund, your investment is highly diversified and its performance will match that of 500 leading U.S. corporations' stocks. Is it possible to lose all of your money? Yes, but the odds of that happening are slim and none. If 500 leading U.S. corporations all have their stock prices plummet to zero, the value of your investment portfolio will be the least of your problems. An economic collapse of that magnitude would make the Great Depression look like Lifestyles of the Rich and Famous.

Hi,Grandpa." He reddened at that and struggled with the pleasure the title gave him. "So you decided to give me a moment of your time." "I felt duty bound to pay my respects to the newest MacGregor first." As if on cue,Justin strode over to arrange Mac in the crook of Daniel's arm. Gennie watched the fierce giant turn into a marshmellow. "There's a laddie," he crooned, holding out his glass to Shelby,then chucking the baby under the chin. When the baby grabbed his thick finger,he preened like a rooster. "Strong as an ox." He grinned foolishly at the room in general, then zeroed in on Grant. "Well, Campbell, so you've come. You see here," he began, jiggling the baby, "why the MacGregor's could never be conquered. Strong stock." "Good blood," Serena murmured, taking the baby from the proud grandfather.

She was thankful that in her job, she didn’t have to choose sides—she fought against currency counterfeiters, stock and bond forgers, money launderers, diamond smugglers—in short, lowlifes like Spyro Leandrou who engaged in activities that were universally perceived as wrong.

Apple went public the morning of December 12, 1980. By then the bankers had priced the stock at $ 22 a share. It went to $ 29 the first day. Jobs had come into the Hambrecht & Quist office just in time to watch the opening trades. At age twenty-five, he was now worth $ 256 million.

As a value investor, your ideal situation is to find a company increasing its intrinsic value. Ideally, the company would be one with a declining stock price, thus creating an even better bargain as time unfolds. No one has employed these principles more effectively than Buffett and Munger.

A year earlier, no company had been accorded more faith than Enron; by late November, none was trusted less. And so, a gasping gurgle, a desperate SOS: Enron, the emblem of free markets, the champion of deregulation, reached into its depleted treasury and forked over $100,000 to each of the major political parties' campaign war chests. Then, it shuttered its online trading unit - its erstwhile gem. On November 28, Standard & Poor's downgraded Enron to junk-bond level - which triggered provisions in Enron's debt requiring it to immediately repay billions of its obligations. This it could not do. Its stock was seventy cents and falling, and, now, no gatekeepers and no credit remained. Accordingly, in the first week of December, Enron, the archetype of shareholder value, availed itself of the time-honored protection for those who have lost their credit: bankruptcy.

On account of disastrous losses in Wall Street that morning, I had determined to kill myself. I’m not of much account, any way, and I was desperate. I knew Uncle Robert would give me no money to repay my stock losses, for he always thought speculation no better than any other sort of gambling—and it isn’t.

But as an angel, I doubt that he bothered to take much stock of the humans. When he looks at me, it’s the look of someone noticing a person for the first time, proving yet again that an angel’s arrogance knows no bounds. Which, now that I think about it, increases the likelihood that this is Raffe. He does a full evaluation of me, taking in the cut and curled hair accented with peacock feathers, the blue and silver makeup ribbons chasing around my eyes and cheekbones, the silky dress that clings to every part of my body. But it’s not until his eyes meet mine that a jolt of recognition passes between us. I have no doubt that it’s Raffe. But he fights his recognition of me. For a second, his defenses fall and I can see the turmoil behind his eyes. He saw me die. This must be a mistake. This glittery girl doesn’t look anything like the street waif he traveled with. Yet… His step falters and he pauses, staring at me.

There is no question that the losing IPOs far outnumber the winners. Of the 8,606 firms examined, the returns on 6,796 of these firms, or 79 percent, have subsequently underperformed the returns on a representative small stock index, and almost half the firms have underper-formed by more than 10 percent per year.

the split-strike conversion strategy. Option traders often referred to it as a “collar” or “bull spread.” Basically, it involved buying a basket of stocks, in Madoff’s case 30 to 35 blue-chip stocks that correlated very closely to the Standard & Poor’s (S&P) 100-stock index, and then protecting the stocks with put options. By bracketing an investment with puts and calls, you limit your potential profit if the market rises sharply; but in return you’ve protected yourself against devastating losses should the market drop. The calls created a ceiling on his gains when the market went up; the puts provided a floor to cut his losses when the market went down.

For example, trading in S&P 500-linked futures totaled more than $60 trillion(!) in 2011, five times the S&P 500 Index total market capitalization of $12.5 trillion. We also have credit default swaps, which are essentially bets on whether a corporation can meet the interest payments on its bonds. These credit default swaps alone had a notional value of $33 trillion. Add to this total a slew of other derivatives, whose notional value as 2012 began totaled a cool $708 trillion. By contrast, for what it’s worth, the aggregate capitalization of the world’s stock and bond markets is about $150 trillion, less than one-fourth as much. Is this a great financial system . . . or what!

Two blue jackets, sir, one pea jacket, two pair of blue trousers, two pair of shoes, six shirts, four pairs of stockings, two Guernsey frocks, two hats, two black Barcelona handkerchiefs, a comforter, several pair of flannel . . .’ he blushed and in a low voice said ‘drawers. And two waistcoats; as well as one bed, one pillow, two blankets and two hammocks,

Takes them less than a week to run the Line thro’ somebody’s House. About a mile and a half west of the Twelve-Mile Arc, twenty-four Chains beyond Little Christiana Creek, on Wednesday, April 10th, the Field-Book reports, “At 3 Miles 49 Chains, went through Mr. Price’s House.” “Just took a wild guess,” Mrs. Price quite amiable, “where we’d build it,— not as if my Husband’s a Surveyor or anything. Which side’s to be Pennsylvania, by the way?” A mischievous glint in her eyes that Barnes, Farlow, Moses McClean and others will later all recall. Mr. Price is in Town, in search of Partners for a Land Venture. “Would you Gentlemen mind coming in the House and showing me just where your Line does Run?” Mason and Dixon, already feeling awkward about it, oblige, Dixon up on the Roof with a long Plumb-line, Mason a-squint at the Snout of the Instrument. Mrs. Price meantime fills her Table with plates of sour-cherry fritters, Neat’s-Tongue Pies, a gigantick Indian Pudding, pitchers a-slosh with home-made Cider,— then producing some new-hackl’d Streaks of Hemp, and laying them down in a Right Line according to the Surveyors’ advice,— fixing them here and there with Tacks, across the room, up the stairs, straight down the middle of the Bed, of course, . . . which is about when Mr. Rhys Price happens to return from his Business in town, to find merry Axmen lounging beneath his Sassafras tree, Strange Stock mingling with his own and watering out of his Branch, his house invaded by Surveyors, and his wife giving away the Larder and waving her Tankard about, crying, “Husband, what Province were we married in? Ha! see him gape, for he cannot remember. ’Twas in Pennsylvania, my Tortoise. But never in Maryland. Hey? So from now on, when I am upon this side of the House, I am in Maryland, legally not your wife, and no longer subject to your Authority,— isn’t that right, Gents?” “Ask the Rev,” they reply together,

Even now one is ashamed of resting, and prolonged reflection almost gives people a bad conscience One thinks with a watch in one’s hand, even as one eats one’s midday meal while reading the latest news of the stock market; one lives as if one always “might miss out on something.” “Rather do anything than nothing”: this principle, too, is merely a string to throttle all culture and good taste.

In the past I was a vicious hunter. I would stalk my prey with pinpoint accuracy. Ever since Monica came into my life I’ve abstained from the game. It almost feels strange to stand here and look to the crowd knowing I could pick one and f*ck them into oblivion. I won’t though. I may love her, but that isn’t the reason. If I were to pick someone for the sake of revenge sex then I’m giving control to Monica and Dalton for betraying me. I’m strong enough to wait. A good hunter is always patient and never stalks in anger.' 'I always crack it until Tobias stops flinching at the sound. It’s never the same amount of times. I don’t want it to become obvious so I always do it a few more times to create a sense of surprise. I coil up the leather and with the flick of my wrist I set a perfect line against Monica’s back. She yelps in pain and surprise, and Tobias joins her. He thought he’d get the first blow. I breathe through the pounding in my cock. It beats in time with my rapidly beating heart. I flick my wrist again taking Monica across the shoulder. I see Tobias tense as she screams. Mustn’t allow the slaves to think they are taking even turns. The blow’s shock is what makes my cock burn for release. I palm my balls as they tighten, threatening to shoot my release up the stock of my dick. I inhale through my nose and breathe out my mouth until I regain my control. I flick my wrist again and hit Monica across her thighs. She screams bloody murder at the ceiling and I smile to myself. It hurts like a bitch, but the marks will fade. I never break skin. This is my passion- my gift.

the man who has been led to believe that he is a brilliant and interesting talker has been led to make himself a rapacious pest. No conversation is possible between others whose ears are within reach of his ponderous voice; anecdotes, long-winded stories, dramatic and pathetic, stock his repertoire; but worst of all are his humorous yarns at which he laughs uproariously though every one else grows solemn and more solemn.

The news that she had gone of course now spread rapidly, and by lunch time Riseholme had made up its mind what to do, and that was hermetically to close its lips for ever on the subject of Lucia. You might think what you pleased, for it was a free country, but silence was best. But this counsel of perfection was not easy to practice next day when the evening paper came. There, for all the world to read were two quite long paragraphs, in "Five o'clock Chit-Chat," over the renowned signature of Hermione, entirely about Lucia and 25 Brompton Square, and there for all the world to see was the reproduction of one of her most elegant photographs, in which she gazed dreamily outwards and a little upwards, with her fingers still pressed on the last chord of (probably) the Moonlight Sonata. . . . She had come up, so Hermione told countless readers, from her Elizabethan country seat at Riseholme (where she was a neighbour of Miss Olga Bracely) and was settling for the season in the beautiful little house in Brompton Square, which was the freehold property of her husband, and had just come to him on the death of his aunt. It was a veritable treasure house of exquisite furniture, with a charming music-room where Lucia had given Hermione a cup of tea from her marvellous Worcester tea service. . . . (At this point Daisy, whose hands were trembling with passion, exclaimed in a loud and injured voice, "The very day she arrived!") Mrs. Lucas (one of the Warwickshire Smythes by birth) was, as all the world knew, a most accomplished musician and Shakespearean scholar, and had made Riseholme a centre of culture and art. But nobody would suspect the blue stocking in the brilliant, beautiful and witty hostess whose presence would lend an added gaiety to the London season.

Do we have any plans for this evening?” he whispered in her ear. She nodded; the motion caused her hair to tickle his cheek. “A ball,” she said. “At Lady Mottram’s.” Anthony couldn’t resist the soft silkiness of her hair, and he threaded two fingers through it, letting it slide across his hand and wrap around his wrist. “Do you know what I think?” he murmured. He heard her smile as she asked, “What?” “I think I’ve never cared that much for Lady Mottram. And do you know what else I think?” Now he heard her trying not to giggle. “What?” “I think we should go upstairs.” “You do?” she asked, clearly feigning ignorance. “Oh, indeed. This very minute, as a matter of fact.” She wiggled her bottom, the minx, ascertaining for herself just how quickly he needed to go upstairs. “I see,” she murmured gravely. He pinched her hip lightly. “I rather thought you felt” “Well, that, too,” she admitted. “It was quite enlightening.” “I’m sure it was,” he muttered. Then, with a very wicked smile, he nudged her chin until they were nose to nose. “Do you know what else I think?” he said huskily. Her eyes widened. “I’m sure I can’t imagine.” “I think,” he said, one of his hands creeping under her dress and slithering up her leg, “that if we don’t go upstairs this instant, I might be content to remain right here.” “Here?” she squeaked. His hand found the edge of her stockings. “Here,” he affirmed. “Now?” His fingers tickled her soft thatch of hair, then sank into the very core of her womanhood. She was soft and wet and felt like heaven. “Oh, most definitely now,” he said. “Here?” He nibbled on her lips. “Didn’t I already answer that question?” And if she had any further questions, she didn’t voice them for the next hour. Or maybe it was just that he was trying his damnedest to rob her of speech. And if a man could judge from the little squeals and mewls that slipped from her mouth, he was doing a ripping good job. -Anthony & Kate

What would yield the greater benefit to mankind: if I spent the afternoon taking stock in my dispensary, or if I went to the beach and took off my clothes and lay in my underpants absorbing the benign spring sun, watching the children frolic in the water, later buying an ice-cream from the kiosk on the parking lot, if the kiosk is still there? What did Noël ultimately achieve labouring at his desk to balance the bodies out against the bodies in? Would he not be better off taking a nap? Maybe the universal sum of happiness would be increased if we declared this afternoon a holiday and went down to the beach, commandant, doctor, chaplain, PT instructors, guards, dog-handlers all together with the six hard cases from the detention block, leaving behind the concussion case to look after things. Perhaps we might meet some girls. For what reason were we waging the war, after all, but to augment the sum of happiness in the universe? Or was I misremembering, was that another war I was thinking of?

On 3 timeless ideas for investing Benjamin Graham, three fundamentally basic ideas: 1. You should look at stocks as part of ownership of a business. 2. You should look at market fluctuations in terms of his "Mr. Market" example & make them your friend rather than your enemy by essentially profiting from folly rather participating in it, & finally, 3. The 3 most important words in investing are "margin of safety" - ...always building a 15,000 pound bridge if you're going to be driving 10,000 pound truck across it...

Proof! We don’t need proof! Tell the public a thing solemnly, and authoritatively, and repeat it sufficiently often, and you will never need to prove anything!” Repetition, like Pretended Authority are two old frauds masquerading as Truth. When you once take their measure, you have disarmed them so far as you are concerned. When you call for “Proof,” they take refuge in dignity and reiteration—that is their entire stock in trade. But Suggestion of Repetition has its value in imparting Truth. It is a poor rule that won’t work both ways.

Don't bother pulling my string again- Not behind those doll eyes anymore I won't say what's expected, kid, laugh at your tantrum on the floor I'm just not looking at you, kid, I'm not a piss-poor heart anymore; Not going home with the lowest bid Out of stock- your projection whore I'm never going back to the toy box Elevated up from the cellar- home of the wish-washed pretty cocks Out of the dark, preachin' Helen Keller Bored with the coin-operated allure I'm top shelf, kid, out of your reach You can't afford to walk in the store Turn around, kid, don't slip in bleach -from 'Ragdoll$ & Riche$

Bait & Switch Buddhism is a classic bait-and-switch operation. We’re attracted by the enlightenment in the window, but as soon as we’re in the door they start steering us over to the compassion aisle. Buddhists could be honest and change their name to Compassionism, but who wants that? There’s the rub. They can’t get us in the door with compassion, and they can’t deliver on the promise of enlightenment. It’s not limited to compassion, of course. Their shelves are stocked with all sorts of goodies and enticements, practically anything anyone could ever want, with just the one rather notable exception. If they had just stopped when they had Anicca, impermanence, and Anatta, no-self, then they would have had a true and effective teaching they could be proud of, except there would be no they because Buddhism would have died with the Buddha. They’d have a good product, but no customers. This untruth-in-advertising is the kind of game you have to play if you want to stay successful in a business where the customer is always wrong. You can either go out of business honestly, or thrive by giving the people what they want. What they say they want and what they really want, though, are two very different things.

REGRET ME When you look in the mirror Take stock of your soul And when you hear my voice, remember You ruined me whole Don’t you dare sleep easy And leave the sleepless nights to me Let the world weigh you down And, baby, when you think of me I hope it ruins rock ’n’ roll Regret me Regretfully When you look at her Take stock of what you took from me And when you see a ghost in the distance Know I’m hanging over everything Don’t you dare sleep easy And leave the sleepless nights to me Let the world weigh you down And, baby, when you think of me I hope it ruins rock ’n’ roll Regret me Regretfully Regret me

REGRET ME When you look in the mirror Take stock of your soul And when you hear my voice, remember You ruined me whole Don’t you dare sleep easy And leave the sleepless nights to me Let the world weigh you down And, baby, when you think of me I hope it ruins rock ’n’ roll Regret me Regretfully When you look at her Take stock of what you took from me And when you see a ghost in the distance Know I’m hanging over everything Don’t you dare sleep easy And leave the sleepless nights to me Let the world weigh you down And, baby, when you think of me I hope it ruins rock ’n’ roll Regret me Regretfully Regret me Regretfully

There,he reminds me of you." Shelby indicated a black panther stretched in a path of sunlight, calmly watching the river of people who passed by. "Is that so?" Alan studied the cat. "Indolent? Subdued?" Shelby let out her smoke-edged laugh. "Oh,no, Senator.Patient, brooding. And arrogant enough to believe this confinement is nothing he can't work with." Turning, she leaned back against the barrier to consider Alan as she had considered the panther. "He's taken stock of the situation,and decided he can pretty much have his own way as things are.I wonder..." Her brows drew together inn concentration. "I wonder just what he'd do if he were really crossed.He doesn't appear to have a temper. Cats usually don't until they're pushed too far just that one time, and then-they're deadly." Alan gave her an odd smile before he took her hand to draw her toward the path again. "He normally sees that he's not often crossed." Shelby tossed her head and met the smile with a bland look. "Let's go look at the monkeys.It always makes me think I'm sitting in the Senate Gallery." "Nasty," he commented and tugged on her hair. "I know.I couldn't help it." Briefly she rested her head on his shoulder as they walked. "I'm often not a nice person. Grant and I both seem to have inherited a streak of sarcasm-or maybe it's cynicism.

You'll make a good First Lady, Shelby Campbell." Shelby's fingers tightened on her wineglass, an involuntary gesture noticed only by Alan and his mother. "Perhaps," she returned calmly. "if it were one of my ambitions." "Ambitions or not,it's fate when you're paired with this one," Daniel stabbed his fork toward Alan. "You're a little premature." Alan cut cleanly through his meat, swearing fluidly in his mind only. "I haven't decided to run for president, and Shelby hasn't agreed to marry me." "Haven't decided? Hah!" Daniel silled down wine. "Hasn't agreed?" He set down the glass with a bang. "The girl doesn't look like a fool to me, Campbell or no," he continued. "She's good Scottish stock,no matter what her clan.This one'll breed true MacGregors." "He'd still like me to change my name," Justin commented, deliberately trying to shift the attention onto himself. "It's been done to ensure the line before," Daniel told him. "but Rena's babe'll be as much MacGregor as not. As will Caine's when he's a mind to remember his duty and start making one." He sent his younger son a lowered-brow look that was met with an insolent grin. "But Alan's the firstborn, duty-bound to marry and produce and sire..." Alan turned, intending on putting an end to the topic,when he caught Shelby's grin. She'd folded her arms on the table,forgetting her dinner in the pure enjoyment of watching Daniel MacGregor on a roll. "Having fun?" Alan muttered near her ear. "Wouldn't miss it.Is he always like this?" Alan glanced over, watching his father gesture with his lecture. "Yes." Shelby sighed. "I think I'm in love. Daniel..." She interrupted his flow of words by tugging sharply on his sleeve. "No offense to Alan,or to your wife,but I think if I were going to marry a MacGregor,he'd have to be you." Still caught up in his own diatribe, Daniel stared at her.Abruptly his features shifted and his laugh rang out. "You're a pistol,you are, Shelby Campbell.Here..." He lifted a bottle of wine. "Your glass is empty.

Teeth retracting, Lissianna pulled free of Greg Hewitt’s neck and glanced guiltily over her shoulder. The sight of Thomas and her mother staring at her wide-eyed from the doorway was enough to make her stand quickly, her hands moving to straighten her clothes and hair. “I cannot believe this!” Marguerite stomped into the room. “Sneaking around and unwrapping your gifts before your birthday like you’re twelve instead of two hundred! What were you thinking?” “Well, technically, it is her birthday, Aunt Marguerite,” Thomas pointed out as he closed the door. Lissianna tossed her cousin a grateful smile, but said, “I wasn’t sneaking around. I came up to get fresh stockings.” She scooped them up off the bed, and added, “And I didn’t unwrap him.” Marguerite stared pointedly at the floor. After glancing down to see the untied bow lying forgotten there, Lissianna grimaced, and admitted, “Okay, I did unwrap him, but only because he was upset, and I hated to leave him distressed.” She paused, then tilted her head, and said, “I take it Bastien’s arrival interrupted you before you could put the full whammy on him? He was upset about being kidnapped and wanted to be untied when I got here.” “I didn’t kidnap him,” Marguerite said with affront, then peered past Lissianna to Dr. Gregory Hewitt to say, “I didn’t kidnap you. I borrowed you.” -Marguerite, Thomas, & Lissianna

So tell me, Ray, what are the percentages you would put in stocks? What percentage in gold? and so on."... "First, he said, we need 30% in stocks (for instance, the S&P 500 or other indexes for further diversification in this basket)... "Then you need long-term government bonds. Fifteen percent in intermediate term [seven- to ten-year Treasuries] and forty percent in long-term bonds [20- to 25-year Treasuries]."... He rounded out the portfolio with 7.5% in gold and 7.5% in commodities... Lastly, the portfolio must be rebalanced. Meaning, when one segment does well, you must sell a portion and reallocate back to the original allocation. This should be done at least annually, and, if done properly, can actually increase tax efficiency. p390

The shop ought to have been as dark as the inside of a tea-caddy, but instead it was filled with a soft, golden light which appeared to emanate from something golden which lay upon the counter-top. A heap of shining guineas was lying there. Mrs Brandy picked up one of the coins and examined it. It was as if she held a ball of soft yellow light with a coin at the bottom of it. The light was odd. It made Mrs Brandy, John and Toby look quite unlike themselves: Mrs Brandy appeared proud and haughty, John looked sly and deceitful and Toby wore an expression of great ferocity. Needless to say, all of these were qualities quite foreign to their characters. But stranger still was the transformation that the light worked upon the dozens of small mahogany drawers that formed one wall of the shop. Upon other evenings the gilt lettering upon the drawers proclaimed the contents to be such things as: Mace (Blades), Mustard (Unhusked), Nutmegs, Ground Fennel, Bay Leaves, Pepper of Jamaica, Essence of Ginger, Caraway, Peppercorns and Vinegar and all the other stock of a fashionable and prosperous grocery business. But now the words appeared to read: Mercy (Deserved), Mercy (Undeserved), Nightmares, Good Fortune, Bad Fortune, Persecution by Families, Ingratitude of Children, Confusion, Perspicacity and Veracity. It was as well that none of them noticed this odd change. Mrs Brandy would have been most distressed by it had she known. She would not have had the least notion what to charge for these new commodities.

Come inside." Shelby tilted her head just enough to rest it briefly on his shoulder as they walked to the door. "I'm relying on your word that I'll walk out again in one piece at the end of the weekend." He only grinned. "I told you my stand on playing the mediator." "Thanks a lot." She glanced up at the door, noting the heavy brass crest that served as a door knocker. The MacGregor lion stared coolly at her with its Gaelic motto over its crowned head. "Your father isn't one to hide his light under a bushel,is he?" "Let's just say he has a strong sense of family pride." Alan lifted the knocker, then let it fall heavily against the thick door. Shelby imagined the sound would vibrate into every nook and cranny in the house. "The Clan MacGregor," Alan began in a low rolling burr, "is one of the few permitted to use the crown in their crest.Good blood. Strong stock.

So, my dear…” She faced him with thudding heart, the crystal piece clutched desperately in her hand, but she was hardly aware that she even held it. “… You say I have let another man into my bed.” Erienne opened her mouth to speak. Her first impulse was to chatter some inanity that could magically take the edge from his callous half statement, half question. No great enlightenment dawned, however, and her dry, parched throat issued no sound of its own. She inspected the stopper closely, turning it slowly in her hand rather than meet the accusing stare. From behind the mask, Lord Saxton observed his wife closely, well aware that the next moments would form the basis for the rest of his life or leave it an empty husk. After this, there could be no turning back. “I think, my dear,” his words made her start, “that whatever the cost, ’tis time you met the beast of Saxton Hall.” Erienne swallowed hard and clasped the stopper with whitened knuckles, as if to draw some bit of courage from the crystal piece. As she watched, Lord Saxton doffed his coat, waistcoat, and stock, and she wondered if it was a trick of her imagination that he seemed somewhat lighter of frame. After their removal, he caught the heel of his right boot over the toe of the left and slowly drew the heavy, misshapen encumbrance from his foot. She frowned in open bemusement, unable to detect a flaw. He flexed the leg a moment before slipping off the other boot. His movements seemed pained as he shed the gloves, and Erienne’s eyes fastened on the long, tan, unscarred hands that rose to the mask and, with deliberate movements, flipped the lacings loose. She half turned, dropping the stopper and colliding with the desk as he reached to the other side of the leather helm and lifted it away with a single motion. She braved a quick glance and gasped in astonishment when she found translucent eyes calmly smiling at her. “Christopher! What…?” She could not form a question, though her mind raced in a frantic search for logic. He rose from the chair with an effort. “Christopher Stuart Saxton, lord of Saxton Hall.” His voice no longer bore a hint of a rasp. “Your servant, my lady.” “But… but where is…?” The truth was only just beginning to dawn on her, and the name she spoke sounded small and thin. “… Stuart?” “One and the same, madam.” He stepped near, and those translucent eyes commanded her attention. “Look at me, Erienne. Look very closely.” He towered over her, and his lean, hard face bore no hint of humor. “And tell me again if you think I would ever allow another man in your bed while I yet breathe.” -Christopher & Erienne

The first concerns how an investor should choose among different types of broad-based index funds. The best-known of the broad stock market mutual funds and ETFs in the United States track the S&P 500 index of the largest stocks. We prefer using a broader index that includes more smaller-company stocks, such as the Russell 3000 index or the Dow-Wilshire 5000 index. Funds that track these broader indexes are often referred to as “total stock market” index funds. More than 80 years of stock market history confirm that portfolios of smaller stocks have produced a higher rate of return than the return of the S&P 500 large-company index. While smaller companies are undoubtedly less stable and riskier than large firms, they are likely—on average—to produce somewhat higher future returns. Total stock market index funds are the better way for investors to benefit from the long-run growth of economic activity.

Putting it all together, fluctuations in attitudes and behavior combine to make the stock market the ultimate pendulum. In my 47 full calendar years in the investment business, starting with 1970, the annual returns on the S&P 500 have swung from plus 37% to minus 37%. Averaging out good years and bad years, the long-run return is usually stated as 10% or so. Everyone’s been happy with that typical performance and would love more of the same. But remember, a swinging pendulum may be at its midpoint “on average,” but it actually spends very little time there. The same is true of financial market performance. Here’s a fun question (and a good illustration): for how many of the 47 years from 1970 through 2016 was the annual return on the S&P 500 within 2% of “normal”—that is, between 8% and 12%? I expected the answer to be “not that often,” but I was surprised to learn that it had happened only three times! It also surprised me to learn that the return had been more than 20 percentage points away from “normal”—either up more than 30% or down more than 10%—more than one-quarter of the time: 13 out of the last 47 years. So one thing that can be said with total conviction about stock market performance is that the average certainly isn’t the norm. Market fluctuations of this magnitude aren’t nearly fully explained by the changing fortunes of companies, industries or economies. They’re largely attributable to the mood swings of investors. Lastly, the times when return is at the extremes aren’t randomly distributed over the years. Rather they’re clustered, due to the fact that investors’ psychological swings tend to persist for a while—to paraphrase Herb Stein, they tend to continue until they stop. Most of those 13 extreme up or down years were within a year or two of another year of similarly extreme performance in the same direction.

If the suffragists acquiesced to arguments invoking the extension of the ballot to women as the saving grace of white supremacy, then birth control advocates either acquiesced to or supported the new arguments invoking birth control as a means of preventing the proliferation of the “lower classes” and as an antidote to race suicide. Race suicide could be prevented by the introduction of birth control among Black people, immigrants and the poor in general. In this way, the prosperous whites of solid Yankee stock could maintain their superior numbers within the population. Thus class-bias and racism crept into the birth control movement when it was still in its infancy. More and more, it was assumed within birth control circles that poor women, Black and immigrant alike, had a “moral obligation to restrict the size of their families.” What was demanded as a “right” for the privileged came to be interpreted as a “duty” for the poor.

That evening after tea the four children all managed to get down to the beach again and get their shoes and stockings off and feel the sand between their toes. But the next day was more solemn. For then, in the Great Hall of Cair Paravel--that wonderful hall with the ivory roof and the west door all hung with peacock’s feathers and the eastern door which opens right onto the sea, in the presence of all their friends and to the sound of trumpets, Aslan solemnly crowned them and led them onto the four thrones amid deafening shouts of, “Long Live King Peter! Long Live Queen Susan! Long Live King Edmund! Long Live Queen Lucy!” “Once a King or Queen in Narnia, always a King or Queen. Bear it well, Sons of Adam! Bear it well, Daughters of Eve!” said Aslan. And through the eastern door, which was wide open, came the voices of the mermen and the mermaids swimming close to the castle steps and singing in honor of their new Kings and Queens.

You gonna have dinner with her and everything?" Grant lifted a brow but managed to keep his composure. Everything, he reminded himself, meant different things to different people. At the moment it conjured up rather provocative images in his brain. "Things are presently unsettled," he murmured, using one of Macintosh's stock phrases. Catching himself, he grinned. "Yeah, we're going to have dinner." And something, he added as he strolled out after Gennie. "What was all that about?" she demanded. "Man talk." "Oh,I beg your pardon." The way she said it-very antebellum and disdainful-made him laugh and pull her into his arms to kiss her in full view of all of Windy Point.As the embrace lingered on,Grant caught the muffled crash from inside Fairfield's. "Poor Will," he murmured. "I know just how he feels." Humor flashed into his eyes again. "I better start around in the boat if we're going to have dinner...and everything." Confused by his uncharacteristic lightheartedness, Gennie gave him a long stare. "All right," she said after a moment. "I'll meet you there.

Shareholders have a residual claim on a firm’s assets and earnings, meaning they get what’s left after all other claimants—employees and their pension funds, suppliers, tax-collecting governments, debt holders, and preferred shareholders (if any exist)—are paid. The value of their shares, therefore, is the discounted value of all future cash flows minus those payments. Since the future is unknowable, potential shareholders must estimate what that cash flow will be; their collective expectations about the future determine the stock price. Any shareholders who expect that the discounted value of future equity earnings of the company will be less than the current price will sell their stock. Any potential shareholders who expect that the discounted future value will exceed the current price will buy stock. This means that shareholder value has almost nothing to do with the present. Indeed, present earnings tend to be a small fraction of the value of common shares. Over the past decade, the average yearly price-earnings multiple for the S&P 500 has been 22x, meaning that current earnings represent less than 5 percent of stock prices.

For nothing is so productive of elevation of mind as to be able to examine methodically and truly every object which is presented to thee in life, and always to look at things so as to see at the same time what kind of universe this is, and what kind of use everything performs in it, and what value everything has with reference to the whole, and what with reference to man, who is a citizen of the highest city, of which all other cities are like families; what each thing is, and of what it is composed, and how long it is the nature of this thing to endure which now makes an impression on me, and what virtue I have need of with respect to it, such as gentleness, manliness, truth, fidelity, simplicity, contentment, and the rest. Wherefore, on every occasion a man should say: this comes from God; and this is according to the apportionment and spinning of the thread of destiny, and such-like coincidence and chance; and this is from one of the same stock, and a kinsman and partner, one who knows not however what is according to his nature. But I know; for this reason I behave towards him according to the natural law of fellowship with benevolence and justice.

Then, in 1950, Andy became something more than a model prisoner. In 1950, he became a valuable commodity, a murderer who did tax-returns better than H & R Block. He gave gratis estate-planning advice, set up tax-shelters, filled out loan applications (sometimes creatively). I can remember him sitting behind his desk in the library, patiently going over a car-loan agreement paragraph by paragraph with a screwhead who wanted to buy a used DeSoto, telling the guy what was good about the agreement and what was bad about it, explaining to him that it was possible to shop for a loan and not get hit quite so bad, steering him away from the finance companies, which in those days were sometimes little better than legal loan-sharks. When he’d finished, the screwhead started to put out his hand . . . and then drew it back to himself quickly. He’d forgotten for a moment, you see, that he was dealing with a mascot, not a man. Andy kept up on the tax laws and the changes in the stock market, and so his usefulness didn’t end after he’d been in cold storage for awhile, as it might have done. He began to get his library money, his running war with the sisters had ended, and nobody tossed his cell very hard. He was a good nigger.

As they worked through the order types, they created a taxonomy of predatory behavior in the stock market. Broadly speaking, it appeared as if there were three activities that led to a vast amount of grotesquely unfair trading. The first they called “electronic front-running”—seeing an investor trying to do something in one place and racing him to the next. (What had happened to Brad, when he traded at RBC.) The second they called “rebate arbitrage”—using the new complexity to game the seizing of whatever kickbacks the exchange offered without actually providing the liquidity that the kickback was presumably meant to entice. The third, and probably by far the most widespread, they called “slow market arbitrage.” This occurred when a high-frequency trader was able to see the price of a stock change on one exchange, and pick off orders sitting on other exchanges, before the exchanges were able to react. Say, for instance, the market for P&G shares is 80–80.01, and buyers and sellers sit on both sides on all of the exchanges. A big seller comes in on the NYSE and knocks the price down to 79.98–79.99. High-frequency traders buy on NYSE at $79.99 and sell on all the other exchanges at $80, before the market officially changes. This happened all day, every day, and generated more billions of dollars a year than the other strategies combined.

Then came the so-called flash crash. At 2:45 on May 6, 2010, for no obvious reason, the market fell six hundred points in a few minutes. A few minutes later, like a drunk trying to pretend he hadn’t just knocked over the fishbowl and killed the pet goldfish, it bounced right back up to where it was before. If you weren’t watching closely you could have missed the entire event—unless, of course, you had placed orders in the market to buy or sell certain stocks. Shares of Procter & Gamble, for instance, traded as low as a penny and as high as $100,000. Twenty thousand different trades happened at stock prices more than 60 percent removed from the prices of those stocks just moments before. Five months later, the SEC published a report blaming the entire fiasco on a single large sell order, of stock market futures contracts, mistakenly placed on an exchange in Chicago by an obscure Kansas City mutual fund. That explanation could only be true by accident, because the stock market regulators did not possess the information they needed to understand the stock markets. The unit of trading was now the microsecond, but the records kept by the exchanges were by the second. There were one million microseconds in a second. It was as if, back in the 1920s, the only stock market data available was a crude aggregation of all trades made during the decade. You could see that at some point in that era there had been a stock market crash. You could see nothing about the events on and around October 29, 1929.

Along the way to Seattle, he wrote his business plan. He identified several reasons why the book category was underserved and well suited to online commerce. He outlined how he could create a new and compelling experience for book-buying customers. To begin with, books were relatively lightweight and came in fairly uniform sizes, meaning they would be easy and inexpensive to warehouse, pack, and ship. Second, while more than 100 million books had been written and more than a million titles were in print in 1994, even a Barnes & Noble mega-bookstore could stock only tens of thousands of titles. An online bookstore, on the other hand, could offer not just the books that could fit in a brick-and-mortar store but any book in print. Third, there were two large book-distribution companies, Ingram and Baker & Taylor, that acted as intermediaries between publishers and retailers and maintained huge inventories in vast warehouses. They kept detailed electronic catalogs of books in print to make it easy for bookstores and libraries to order from them. Jeff realized that he could combine the infrastructure that Ingram and Baker & Taylor had created—warehouses full of books ready to be shipped, plus an electronic catalog of those books—with the growing infrastructure of the Web, making it possible for consumers to find and buy any book in print and get it shipped directly to their homes. Finally, the site could use technology to analyze the behavior of customers and create a unique, personalized experience for each one of them.

Here are some of the handicaps mutual-fund managers and other professional investors are saddled with: With billions of dollars under management, they must gravitate toward the biggest stocks—the only ones they can buy in the multimillion-dollar quantities they need to fill their portfolios. Thus many funds end up owning the same few overpriced giants. Investors tend to pour more money into funds as the market rises. The managers use that new cash to buy more of the stocks they already own, driving prices to even more dangerous heights. If fund investors ask for their money back when the market drops, the managers may need to sell stocks to cash them out. Just as the funds are forced to buy stocks at inflated prices in a rising market, they become forced sellers as stocks get cheap again. Many portfolio managers get bonuses for beating the market, so they obsessively measure their returns against benchmarks like the S & P 500 index. If a company gets added to an index, hundreds of funds compulsively buy it. (If they don’t, and that stock then does well, the managers look foolish; on the other hand, if they buy it and it does poorly, no one will blame them.) Increasingly, fund managers are expected to specialize. Just as in medicine the general practitioner has given way to the pediatric allergist and the geriatric otolaryngologist, fund managers must buy only “small growth” stocks, or only “mid-sized value” stocks, or nothing but “large blend” stocks.6 If a company gets too big, or too small, or too cheap, or an itty bit too expensive, the fund has to sell it—even if the manager loves the stock. So

If Jim was back at the imaginary dinner party, trying to explain what he did for a living, he'd have tried to keep it simple: clearing involved everything that took place between the moment someone started at trade — buying or selling a stock, for instance — and the moment that trade was settled — meaning the stock had officially and legally changed hands. Most people who used online brokerages thought of that transaction as happening instantly; you wanted 10 shares of GME, you hit a button and bought 10 shares of GME, and suddenly 10 shares of GME were in your account. But that's not actually what happened. You hit the Buy button, and Robinhood might find you your shares immediately and put them into your account; but the actual trade took two days to complete, known, for that reason, in financial parlance as 'T+2 clearing.' By this point in the dinner conversation, Jim would have fully expected the other diners' eyes to glaze over; but he would only be just beginning. Once the trade was initiated — once you hit that Buy button on your phone — it was Jim's job to handle everything that happened in that in-between world. First, he had to facilitate finding the opposite partner for the trade — which was where payment for order flow came in, as Robinhood bundled its trades and 'sold' them to a market maker like Citadel. And next, it was the clearing brokerage's job to make sure that transaction was safe and secure. In practice, the way this worked was by 10:00 a.m. each market day, Robinhood had to insure its trade, by making a cash deposit to a federally regulated clearinghouse — something called the Depository Trust & Clearing Corporation, or DTCC. That deposit was based on the volume, type, risk profile, and value of the equities being traded. The riskier the equities — the more likely something might go wrong between the buy and the sell — the higher that deposit might be. Of course, most all of this took place via computers — in 2021, and especially at a place like Robinhood, it was an almost entirely automated system; when customers bought and sold stocks, Jim's computers gave him a recommendation of the sort of deposits he could expect to need to make based on the requirements set down by the SEC and the banking regulators — all simple and tidy, and at the push of a button.

Leonard H. Stringfield 1)Retrievals of the Third Kind: A Case Study of Alleged UFOs and Occupants in Military Custody. The first formal research paper presented publicly on the subject of UFO crash/retrievals at the MUFON Symposium, Dayton, Ohio, July, 1978. Original edition, dated April, 1978, was published in MUFON Proceedings (1978). Address: MUFON, 103 Oldtowne Road, Seguin, Texas 78155. If available, price___________. 2)Retrievals of the Third Kind: A Case Study of Alleged UFOs and Occupants in Military Custody,Status Report I. Revised edition, July, 1978, word processed copy, 34 pages. Available at author's address. See below. Price, USA___________. 3)UFO Crash/Retrieval Syndrome, Status Report II. Published by MUFON. Flexible cover, typeset, illustrations, 37 pages. Available only at MUFON address: 103 Oldtowne Road, Seguin, Texas 78155. Price, USA___________. 4)UFO Crash/Retrievals: Amassing the Evidence, Status Report III, June 1982; flexible cover, typeset, illustrations, 53 pages. Available from author's address. See below. Price, USA___________. 5)The Fatal Encounter at Ft. Dix -- McGuire: A Case Study, Status Report IV, June, 1985. Paper presented at MUFON Symposium, St. Louis, Missouri, 1985. Xeroxed copy, 26 pages. Available at author's address. See below. Price, USA___________. 6)UFO Crash/Retrievals: Is the Coverup Lid Lifting? Status Report V. Published in MUFON UFO Journal, January, 1989, with updated addendum. Xeroxed copy, 23 pages. Available at author's address. See below. Price, USA___________. 7)Inside Saucer Post, 3-0 Blue. Book privately published, 1957. Review of author's early research and cooperative association with the Air Defense Command Filter Center, using code name, FOX TROT KILO 3-0 BLUE. Flexible cover, typeset, illustrations, 94 pages. Available from author's address. See below. Price, USA___________. 8)Situation Red: The UFO Siege. Hardcover book published by Doubleday & Co., 1977. Paperback edition published by Fawcett Crest Books, 1977. Also foreign publishers. Out of print, not available. 9)Orbit Newsletter, published monthly, 1954-1957, by author for international sale and distribution. Set of 36 issues. Some issues out of stock, duplicated by xerox. Available at author's address -- see below. Price of set, USA___________. 10)UFO Crash/Retrievals: The Inner Sanctum, Status Report VI, July, 1991; flexible cover, book length, 81.000 words, 142 (8-1/2 X 11) pages, illustrated. Privately published. Available from author's address. See below. Price, USA___________. Prices include postage and handling. Mailings to Canada, add 500 for each item ordered. All foreign orders, payable U.S. funds, International money order or draft on U.S. Bank. Recommend Air Mail outside U.S. territories. Check on price. Leonard H. Stringfield 4412 Grove Avenue Cincinnati, Ohio 45227 USA Telephone: (513) 271-4248

Birch bark lends a mild wintergreen flavor to brewed sodas. Birch beer, flavored with sassafras and birch, is a classic American brew. Birch bark is usually sold in homebrew stores. Bitter Orange (Bergamot) s highly aromatic, and its dried peel is an essential part of cola flavor. The dried peel and its extract are usually available in spice shops, or any store with a good spice selection. They can be pricey. Burdock root s a traditional ingredient in American root beers. It has a mild sweet flavor similar to that of artichoke. Dried burdock root is available in most Asian groceries and homebrew stores. Cinnamon has several species, but they all fall into two types. Ceylon cinnamon is thin and mild, with a faint fragrance of allspice. Southeast Asian cinnamon, also called cassia, is both stronger and more common. The best grade comes from Vietnam and is sold as Saigon cinnamon. Use it in sticks, rather than ground. The sticks can be found in most grocery stores. Ginger, a common soda ingredient, is very aromatic, at once spicy and cooling. It is widely available fresh in the produce section of grocery stores, and it can be found whole and dried in most spice shops. Lemongrass, a perennial herb from central Asia, contains high levels of citral, the pungent aromatic component of lemon oil. It yields a rich lemon flavor without the acid of lemon juice, which can disrupt the fermentation of yeasted sodas. Lemon zest is similar in flavor and can be substituted. Lemongrass is available in most Asian markets and in the produce section of well-stocked grocery stores. Licorice root provides the well-known strong and sweet flavor of black licorice candy. Dried licorice root is sold in natural food stores and homebrew stores. Anise seed and dried star anise are suitable substitutes. Sarsaparilla s similar in flavor to sassafras, but a little milder. Many plants go by the name sarsaparilla. Southern-clime sarsaparilla (Smilax spp.) is the traditional root-beer flavoring. Most of the supply we get in North America comes from Mexico; it’s commonly sold in homebrew stores. Wild sarsaparilla (Aralia spp.) is more common in North America and is sometimes used as a substitute for true sarsaparilla. Small young sarsaparilla roots, known as “root bark” are less pungent and are usually preferred for soda making, although fully mature roots give fine results. Sassafras s the most common flavoring for root beers of all types. Its root bark is very strong and should be used with caution, especially if combined with other flavors. It is easily overpowering. Dried sassafras is available in homebrew stores. Star anise, the dried fruit of an Asian evergreen, tastes like licorice, with hints of clove and cinnamon. The flavor is strong, so use star anise with caution. It is available dried in the spice section of most grocery stores but can be found much more cheaply at Asian markets.