Et Stock Quotes

Tecum habita, et noris quam sit tibi curta suppellex. Retire within thyself, and thou will discover how small a stock is there.

[I] threw open the door to find Rob sit­ting on the low stool in front of my book­case, sur­round­ed by card­board box­es. He was seal­ing the last one up with tape and string. There were eight box­es - eight box­es of my books bound up and ready for the base­ment! "He looked up and said, 'Hel­lo, dar­ling. Don't mind the mess, the care­tak­er said he'd help me car­ry these down to the base­ment.' He nod­ded to­wards my book­shelves and said, 'Don't they look won­der­ful?' "Well, there were no words! I was too ap­palled to speak. Sid­ney, ev­ery sin­gle shelf - where my books had stood - was filled with ath­let­ic tro­phies: sil­ver cups, gold cups, blue rosettes, red rib­bons. There were awards for ev­ery game that could pos­si­bly be played with a wood­en ob­ject: crick­et bats, squash rac­quets, ten­nis rac­quets, oars, golf clubs, ping-​pong bats, bows and ar­rows, snook­er cues, lacrosse sticks, hock­ey sticks and po­lo mal­lets. There were stat­ues for ev­ery­thing a man could jump over, ei­ther by him­self or on a horse. Next came the framed cer­tificates - for shoot­ing the most birds on such and such a date, for First Place in run­ning races, for Last Man Stand­ing in some filthy tug of war against Scot­land. "All I could do was scream, 'How dare you! What have you DONE?! Put my books back!' "Well, that's how it start­ed. Even­tu­al­ly, I said some­thing to the ef­fect that I could nev­er mar­ry a man whose idea of bliss was to strike out at lit­tle balls and lit­tle birds. Rob coun­tered with re­marks about damned blue­stock­ings and shrews. And it all de­gen­er­at­ed from there - the on­ly thought we prob­ably had in com­mon was, What the hell have we talked about for the last four months? What, in­deed? He huffed and puffed and snort­ed and left. And I un­packed my books.

L’agonie de notre temps gît là. Le siècle ne s’effondre pas faute de soutien matériel. Jamais l’univers ne fut si riche, comblé de tant de confort, aidé par une industrialisation à ce point productrice. Jamais il n’y eut tant de ressources ni de biens offerts. C’est le cœur de l’homme, et lui seul, qui est en état de faillite. C’est faute d’aimer, c’est faute de croire et de se donner, que le monde s’accable lui-même des coups qui l’assassinent. Le siècle a voulu n’être plus que le siècle des appétits. Son orgueil l’a perdu. Il a cru aux machines, aux stocks, aux lingots, sur lesquels il régnerait en maître. Il a cru, tout autant, à la victoire des passions charnelles projetées au delà de toutes les limites, à la libération des formes les plus diverses des jouissances, sans cesse multipliées, toujours plus avilies et plus avilissantes, dotées d’une « technique » qui n’est, en somme, généralement, qu’une accumulation, sans grande imagination, d’assez pauvres vices, d’êtres vidés.

Certains clients ne comprennent pas pourquoi, le jour de Noël, le jouet le plus vendu du moment est en rupture de stock et font un scandale en trente-six exemplaires.

– Bah alors, c’est ce que je dis, avec la dotation qu’on a, ajouta Făneață puis il se leva pour prendre le livre le plus épais de la pile la plus proche. Il se trouva que c’était La Montagne magique. – Ça fera l’affaire, dit-il le travailleur en se rasseyant à table. Il a suffisamment de pages pour que personne ne remarque que nous en avons déchiré quelques-unes. – Mon frère, t’es vraiment mortel. Laisse donc ce livre en paix, nom de Dieu… Nicu s’opposa pour la dernière fois, l’image de son camarade en cerbère le fit éclater de rire. Une considération de folie. – Tiens, avant de le déplumer, lis au moins ce qu’il y a d’écrit, qu’on entende nous aussi. Făneață fourra son doigt épais au cœur du livre et lut là où ses yeux se posèrent : – Qu’est-ce que le corps ! éclata-t-il avec une impétosité soudaine. Qu’est-ce que la chair ! Qu’est-ce que le corps humain ! De quoi est-il constitué ! Monsieur le conchilier aulique, dites-le nous tout de suite, cet après-midi même. Dites-le-nous une fois pour tourtes et le plus échactement, pour que nous le sachions. Écœuré par la lecture, il s’arrêta, et ne cacha pas son étonnement : certains sont prêts à jeter leur argent par les fenêtres pour n’importe quoi. – Mon petit Nicu, c’est ainsi quand l’homme a trop de temps libre, qu’il ne travaille même pas. Il est là à se faire des idées, et ceux qui se font passer pour cultivés font la file d’attente pour acheter quelque livre comme celui-là. Chiche qu’on va montrer à m’sieur l’écrivain – il fit une pause pour lire le nom de celui-ci sur la couverture – ce que c’est-ce que la viande, car je vois que l’honorable dit ne pas le savoir. Passe-moi les saucisses, va ! Puis il arracha soigneusement quelques pages sur lesquelles il déposa fromage et légumes en se vantant auprès de Nicu que lui était un garçon de salon et que l’on n’aurait déchiré des feuilles que de là-bas, de l’introduction, partie que personne ne lit. – De la critique.

Dans son rapport inaugural, le Forum, à propos de la mondialisation qu'il a symbolisée sous ses formes les plus conquérantes et sûres d'elles-mêmes, évoque avec un sens exquis de l'euphémisme "un risque de désillusion". Mais dans les conversations, c'est autre chose. Désillusion ? Crise ? Inégalités ? D'accord, si vous y tenez, mais enfin, comme nous le dit le très cordial et chaleureux PDG de la banque américaine Western Union, soyons clairs : si on ne paie pas les leaders comme ils le méritent, ils s'en iront voir ailleurs. Et puis, capitalisme, ça veut dire quoi ? Si vous avez 100 dollars d'économies et que vous les mettez à la banque en espérant en avoir bientôt 105, vous êtes un capitaliste, ni plus ni moins que moi. Et plus ces capitalistes comme vous et moi (il a réellement dit "comme vous et moi", et même si nous gagnons fort décemment notre vie, même si nous ne connaissons pas le salaire exact du PDG de la Western Union, pour ne rien dire de ses stock-options, ce "comme vous et moi" mérite à notre sens le pompon de la "brève de comptoir" version Davos), plus ces capitalistes comme vous et moi, donc, gagneront d'argent, plus ils en auront à donner, pardon à redistribuer, aux pauvres. L'idée ne semble pas effleurer cet homme enthousiaste, et à sa façon, généreux, que ce ne serait pas plus mal si les pauvres étaient en mesure d'en gagner eux-mêms et ne dépendaient pas des bonnes dispositions des riches. Faire le maximum d'argent, et ensuite le maximum de bien, ou pour les plus sophistiqués faire le maximum de bien en faisant le maximum d'argent, c'est le mantra du Forum, où on n'est pas grand-chose si on n'a pas sa fondation caritative, et c'est mieux que rien, sans doute "(vous voudriez quoi ? Le communisme ?"). Ce qui est moins bien que rien, en revanche, beaucoup moins bien, c'est l'effarante langue de bois dans laquelle ce mantra se décline. Ces mots dont tout le monde se gargarise : préoccupation sociétale, dimension humaine, conscience globale, changement de paradigme… De même que l'imagerie marxiste se représentait autrefois les capitalistes ventrus, en chapeau haut de forme et suçant avec volupté le sang du prolétariat, on a tendance à se représenter les super-riches et super-puissants réunis à Davos comme des cyniques, à l'image de ces traders de Chicago qui, en réponse à Occupy Wall Street, ont déployé au dernier étage de leur tour une banderole proclamant : "Nous sommes les 1%". Mais ces petits cyniques-là étaient des naïfs, alors que les grands fauves qu'on côtoie à Davos ne semblent, eux, pas cyniques du tout. Ils semblent sincèrement convaincus des bienfaits qu'ils apportent au monde, sincèrement convaincus que leur ingénierie financière et philanthropique (à les entendre, c'est pareil) est la seule façon de négocier en douceur le fameux changement de paradigme qui est l'autre nom de l'entrée dans l'âge d'or. Ça nous a étonnés dès le premier jour, le parfum de new age qui baigne ce jamboree de mâles dominants en costumes gris. Au second, il devient entêtant, et au troisième on n'en peut plus, on suffoque dans ce nuage de discours et de slogans tout droit sortis de manuels de développement personnel et de positive thinking. Alors, bien sûr, on n'avait pas besoin de venir jusqu'ici pour se douter que l'optimisme est d'une pratique plus aisée aux heureux du monde qu'à ses gueux, mais son inflation, sa déconnexion de toute expérience ordinaire sont ici tels que l'observateur le plus modéré se retrouve à osciller entre, sur le versant idéaliste, une indignation révolutionnaire, et, sur le versant misanthrope, le sarcasme le plus noir. (p. 439-441)

Chambers et al. conclude that Keynes had no skill as a market timer. By then, however, the man who had started out as a top-down speculator relying upon his “superior knowledge” to forecast the macroeconomic climate, was behaving more like a bottom-up, fundamental investor who sought solid, dividend-paying stocks with good long-term prospects. His gains came from taking large positions in those securities that had financial statement sheets he could understand, and sold products or services he believed he could assess objectively.

Le premier point à prendre en compte est le fait que la production globale actuelle est quantitativement suffisante pour assurer l'alimentation de l'ensemble de la population mondiale. La disponibilité alimentaire mondiale est de 2 790 calories par jour et par personne (données de 2001-2003), ce qui pourrait être suffisant. La sous-alimentation qui affecte aujourd'hui un milliard d'individus pourrait être éradiquée par ure réorganisation de la production, notamment avec une réorientation vers la multiplicité des cultures vivrières et par un rééquilibrage du stock calorique, fort mal distribué (3 490 calories par jour et par personne dans les pays développés, contre 2 254 en Afrique subsaharienne). Quant à la malnutrition (carences en vitamines et minéraux) et à son envers, l'obésité et le surpoids (provoqués essentiellement par la diffusion des habitudes alimentaires promues par le secteur agroalimentaire et la grande distribution), qui affectent chacune un milliard d'individus, ils pourraient être résorbés, sans augmentation quantitative globale, par une réorientation vers une agriculture paysanne développant des pratiques agro-écologiques. Si l'agriculture industrielle actuelle fait valoir de manière tronquée sa supériorité, notamment en termes de productivité par hectare, une évaluation plus globale, incluant l'ensemble des coûts directs et indirects (notamment écologiques), invite à faire pencher la balance de l'efficacité du côté de l'agriculture paysanne. De fait, l'agriculture industrialisée est entraînée dans un cercle vicieux, marqué notamment par l'épuisement et la salinisation des sols, la multiplication des insectes résistant aux pesticides, la hausse des pathologies du bétail ; en outre, elle provoque une baisse du pouvoir nutritif des produits, notamment des fruits et légumes à croissance rapide. Enfin, il faut indiquer que les surfaces agricoles consacrées à des cultures non alimentaires (agrocarburants notamment) doivent être restituées à leur vocation initiale, ce qui offre une marge de manœuvre importante pour assurer à l'ensemble de l'humanité une alimentation quantitativement et qualitativement satisfaisante. On dispose également de deux leviers importants pour atteindre et maintenir cet impératif élémentaire : d'une part, une limitation de l'élevage, particulièrement glouton en énergie et en surfaces (40 % des grains actuellement produits sont destinés à l'alimentation animale) et écologiquement dangereux (importantes émissions de gaz à effet de serre) ; d'autre part, une élimination du gâchis alimentaire (évalué à 30 % au moins dans le système alimentaire industriel mondial, et à 100 milliards de dollars par an uniquement aux États-Unis). (p. 190-192)

There is ample evidence that confirmation bias permeates throughout investors' decisions. For example, once an investor likes a stock, he is likely to seek out information that validates that stock. In a 2010 study, researchers showed that investors used message boards to seek out information that validated rather than challenged, stocks they owned (Park et al. 2010). If we own a stock, we tend to look for anything that validates our decision to buy it, and to reinforce why we should keep holding it.

Il détestait les surprises, et espérait vivement que l'univers n'en eût plus trop en stock. De son côté, l'univers ricana.

Les Orientaux ont pour philosophie que le plus important dans la peinture ce sont les espaces vides que le peintre a décidé de ne pas remplir, et le plus important de la poésie c'est le non-dit. Les mots écrits ne sont que des mots. Il faut regarder sous l'encre, ou au-dessus. Trouver l'invisible, le caché, qui est l'âme du poème. Un vase n'est qu'un si on ne sait pas comment le regarder. Et cette fille, pour quiconque dans l'aéroport, n'était qu'une jeune fille à la peau foncée, totalement absorbée par son monde. Pour quiconque, sauf pour Pau. Cela n'avait rien d'étrange. Pau savait comment regarder les choses. - Qu'est-ce que vous racontez, aujourd'hui ? - Rien, j'ai épuisé mon stock. Et il riait.

By this time NDTV had become part and parcel of Lutyens’ cozy club cutting across party lines. Congress and BJP heavyweights were at the disposal of NDTV. Left parties too were silent and complicit on NDTV’s illegalities in wielding power as Prannoy Roy’s wife Radhika Roy was the full blood real sister of Communist Party of India – Marxist (CPI-M) Politburo member Brinda Karat (wife of Prakash Karat, General Secretary of CPI-M). Till 2009, the CPI-M General Secretary Prakash Karat and wife Brinda Karat lived with Prannoy Roy and Radhika Roy. NDTV was basking in the aura of the political and intellectual who’s who in the luxurious Lutyens’ Delhi. By this time, it had many nephews, nieces, daughters, sons, daughters in law, sons in law, et al, of powers that be/people at key places on its rolls masquerading as journalists or in other positions within NDTV to curry favours with the obliged and gratified uncles and fathers in law.

From his headquarters in Los Angeles, Bob Lorsch had entered the prepaid calling card space and built SmarTalk into a success. I was a VP at Salomon at the time and had heard stories about how crazy and fascinating Lorsch was, so I agreed to work with my colleague Mark Davis on a SmarTalk equity offering a year or so after the company’s IPO. We met at their Los Angeles offices at lunchtime. Lorsch burst into the room like a bad caricature of Danny DeVito, and even though I’d been warned that he was an unconventional CEO, I still wasn’t prepared for the encounter. We had put together the standard detailed presentation that analyzed the state of the public equity markets, how the SmarTalk stock had been performing, who owned it, et cetera. A young Salomon analyst who had been pulling all-nighters to assemble the books sat in a chair near the door. Mark and I passed around the presentation books. “So we’ve prepared a—” I started. “Just tell me,” Lorsch interjected. “Do we have Grubman or not?” Jack Grubman, Salomon’s famed equity analyst, had previously endorsed the SmarTalk IPO with a buy rating. “Yes,” Mark said. “We have Jack. We talked to him prior to the meeting and confirmed that he’ll continue to cover the company and support the offering.” “Then you’re hired,” Lorsch said with a smile, pushing his unopened book to the center of the table. “Let’s eat.” It seemed reckless to have made his decision on so little information, and I could only imagine how the analyst kid near the door felt, sleep-deprived and probably proud of his hard work, only to see the book tossed aside without so much as a cracking of the spine. While we ate the catered lunch that was delivered to the conference room, Mark mentioned that I was in the midst of planning my wedding for that summer. “Don’t get married!” Lorsch advised me. “Terrible, terrible idea.” He described a few of his own ill-fated unions, dropping in crude one-liners to punctuate the stories: “Why buy when you can rent? . . . If it flies, floats, or fucks, don’t buy it! . . .” Despite

Even for one who possesses a natural facility for acquiring foreign tongues, the learning of Russian is by no means an easy task. Though it is essentially an Aryan language like our own, and contains only a slight intermixture of Tartar words,—such as bashlyk (a hood), kalpak (a night-cap), arbuz (a water-melon), etc.—it has certain sounds unknown to West-European ears, and difficult for West-European tongues, and its roots, though in great part derived from the same original stock as those of the Graeco-Latin and Teutonic languages, are generally not at all easily recognised. As an illustration of this, take the Russian word otets. Strange as it may at first sight appear, this word is merely another form of our word father, of the German vater, and of the French pere. The syllable ets is the ordinary Russian termination denoting the agent, corresponding to the English and German ending er, as we see in such words as—kup-ets (a buyer), plov-ets (a swimmer), and many others. The root ot is a mutilated form of vot, as we see in the word otchina (a paternal inheritance), which is frequently written votchina. Now vot is evidently the same root as the German vat in Vater, and the English fath in father. Quod erat demonstrandum.

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