Extended Stock Quotes

On the TV screen right now, it's 1975, and Jimmy Page is playing like a man who answers to nobody. A man existing in that seductive state of extended adolescence that rock legends bask in, a man connected to something in the universe larger than even the sum total of the legendary Led Zeppelin, playing guitar because that is so clearly what he was put here to do. And it's wrong to expect that kind of divine moment to last forever, and to expect an artist to stay in 1975. Fact is, ten minutes ago I saw the guy onscreen right downstairs, coming off the trading floor of the stock exchange with a banker carrying his guitar cases for him. I sit cross-legged on the floor on a workday staring into my cereal bowl, thinking about how we all change. We all grow up. We all move on, one way or another, whether we want to or not.

Whenever there is in any country, uncultivated lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right. The earth is given as a common stock for man to labour and live on. If, for the encouragement of industry we allow it to be appropriated, we must take care that other employment be furnished to those excluded from the appropriation. If we do not the fundamental right to labour the earth returns to the unemployed.

Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions or property in geometrical progression as they rise. Whenever there are in any country uncultivated lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right. The earth is given as a common stock for man to labor and live on. Letter to James Madison, October 28, 1785

I watched the shadow of our plane hastening below us across hedges and fences, rows of poplars and canals … Nowhere, however, was a single human being to be seen. No matter whether one is flying over Newfoundland or the sea of lights that stretches from Boston to Philadelphia after nightfall, over the Arabian deserts which gleam like mother-of-pearl, over the Ruhr or the city of Frankfurt, it is as though there were no people, only the things they have made and in which they are hiding. One sees the places where they live and the roads that link them, one sees the smoke rising from their houses and factories, one sees the vehicles in which they sit, but one sees not the people themselves. And yet they are present everywhere upon the face of the earth, extending their dominion by the hour, moving around the honeycombs of towering buildings and tied into networks of a complexity that goes far beyond the power of any one individual to imagine, from the thousands of hoists and winches that once worked the South African diamond mines to the floors of today's stock and commodity exchanges, through which the global tides of information flow without cease. If we view ourselves from a great height, it is frightening to realize how little we know about our species, our purpose and our end, I thought, as we crossed the coastline and flew out over the jelly-green sea.

Several years ago, researchers at the University of Minnesota identified 568 men and women over the age of seventy who were living independently but were at high risk of becoming disabled because of chronic health problems, recent illness, or cognitive changes. With their permission, the researchers randomly assigned half of them to see a team of geriatric nurses and doctors—a team dedicated to the art and science of managing old age. The others were asked to see their usual physician, who was notified of their high-risk status. Within eighteen months, 10 percent of the patients in both groups had died. But the patients who had seen a geriatrics team were a quarter less likely to become disabled and half as likely to develop depression. They were 40 percent less likely to require home health services. These were stunning results. If scientists came up with a device—call it an automatic defrailer—that wouldn’t extend your life but would slash the likelihood you’d end up in a nursing home or miserable with depression, we’d be clamoring for it. We wouldn’t care if doctors had to open up your chest and plug the thing into your heart. We’d have pink-ribbon campaigns to get one for every person over seventy-five. Congress would be holding hearings demanding to know why forty-year-olds couldn’t get them installed. Medical students would be jockeying to become defrailulation specialists, and Wall Street would be bidding up company stock prices. Instead, it was just geriatrics. The geriatric teams weren’t doing lung biopsies or back surgery or insertion of automatic defrailers. What they did was to simplify medications. They saw that arthritis was controlled. They made sure toenails were trimmed and meals were square. They looked for worrisome signs of isolation and had a social worker check that the patient’s home was safe. How do we reward this kind of work? Chad Boult, the geriatrician who was the lead investigator of the University of Minnesota study, can tell you. A few months after he published the results, demonstrating how much better people’s lives were with specialized geriatric care, the university closed the division of geriatrics.

certain group of people in the United States tried an experiment. They tried the experiment of making a fortune without working, of making a fortune through the stock exchange. They extended the experiment until it exploded and all went down to earth.  “Aspects of World Trade” Thomas J. Watson Sr. July 31, 1930

The Anglo-Spanish penal system either struck visitors as refreshingly civilized or as stingingly rapacious. Sentences could be commuted or pardoned for large cash payments, or for the transfer of assets such as stock or annuities. Absent this, prison corporations happily extended moderate-interest sentence-mortgages to a sponsor, or even to parolees themselves. Visitors could buy different levels of access to the prison via a transparent list of escalating fees, which in the Congregate would have been called bribes. Some nations just did prisons better than others.

Zombie nerds. They probably had the flyers already made up for this. There was nobody creepier than the zombie nerds, college guys who not only watched zombie movies and read zombie novels and played zombie video games, but actually formed clubs and collected zombie-killing weapons. Gun shops around there actually stocked zombie targets, and special zombie bullets with glow-in-the-dark tips. Not toy bullets, mind you. These guys would go out in the woods and train and shoot and defend to the death their right to stay in childhood until age thirty-five.

Adopting and extending the existing system of mamluk recruitment, he purchased thousands of young male slaves, drawn from Kipchak Turkish and, later, Caucasian stock. These boys were trained and indoctrinated as mamluk troops, and then at the age of eighteen freed to serve their masters within the Mamluk sultanate. This approach created a constantly self-rejuvenating military force–what one modern historian has called a ‘one-generation nobility’–because children born of mamluks were not regarded as being part of the martial elite, although they were permitted to enrol in the army’s second-tier halqa reserves.

Every dish I cooked exhumed a memory. Every scent and taste brought me back for a moment to an unravaged home. Knife-cut noodles in chicken broth took me back to lunch at Myeondong Gyoja after an afternoon of shopping, the line so long it filled a flight of stairs, extended out the door, and wrapped around the building. The kalguksu so dense from the rich beef stock and starchy noodles it was nearly gelatinous. My mother ordering more and more refills of their famously garlic-heavy kimchi. My aunt scolding her for blowing her nose in public. Crispy Korean fried chicken conjured bachelor nights with Eunmi. Licking oil from our fingers as we chewed on the crispy skin, cleansing our palates with draft beer and white radish cubes as she helped me with my Korean homework. Black-bean noodles summoned Halmoni slurping jjajangmyeon takeout, huddled around a low table in the living room with the rest of my Korean family. I drained an entire bottle of oil into my Dutch oven and deep-fried pork cutlets dredged in flour, egg, and panko for tonkatsu, a Japanese dish my mother used to pack in my lunch boxes. I spent hours squeezing the water from boiled bean sprouts and tofu and spooning filling into soft, thin dumpling skins, pinching the tops closed, each one slightly closer to one of Maangchi's perfectly uniform mandu.

A friend tells the story of seeing percussionist Milford Graves perform a solo concert. Before the music commenced, Graves asked for someone from the audience to come up and help him with a demonstration. A young man volunteered, made his way onstage and stood facing the performer. Graves held out both wrists and asked the man to check his pulse, which was verified as normal. Then the drummer closed his eyes, concentrated, and halted his pulse—as the volunteer confirmed, in expectant delight. Relaxing, the regular pulse reappeared and the enlisted man released Graves's wrists. "No, no. Wait a minute," smiled Graves, holding his arms as they were, stock still. The assistant took ahold of Graves's wrists, once again feeling for a pulse. Once again, Graves closed his eyes and concentrated deeply. Some time passed, with the audience, volunteer, and graves absolutely hushed in anticipation. Suddenly, the man jerked away in disbelief, "My God, they're not beating together!" he exclaimed. Graves quickly took a seat at his kit and began to play.

As I grew into boyhood, I extended the range of my observations. My holiday afternoons were spent in rambles about the surrounding country. I made myself familiar with all its places famous in history or fable. I knew every spot where a murder or robbery had been committed, or a ghost seen. I visited the neighboring villages, and added greatly to my stock of knowledge, by noting their habits and customs, and conversing with their sages and great men. I even journeyed one long summer's day to the summit of the most distant hill, whence I stretched my eye over many a mile of terra incognita, and was astonished to find how vast a globe I inhabited.

While some methods of calculation find that cancer and its patients take up too many resources, from another angle, cancer patients are cash cows. Each cancer patient generates millions of dollars in revenues. If one wonders why we would extend the life of a pancreatic patient for a dozen days with a $16,000 drug, let’s remember that this money does not evaporate after twelve days; it continues to circulate in stock prices, salaries, and smaller crumbs of an infinitely profitable cancer pie. Just as the demon of communism justified the proliferation of a lucrative nuclear industry, so cancer fills the core of so many economies that if a cure were to be found, the economy might just crash.

A 1997 study of the consumer product design firm IDEO found that most of the company’s biggest successes originated as “combinations of existing knowledge from disparate industries.” IDEO’s designers created a top-selling water bottle, for example, by mixing a standard water carafe with the leak-proof nozzle of a shampoo container. The power of combining old ideas in new ways also extends to finance, where the prices of stock derivatives are calculated by mixing formulas originally developed to describe the motion of dust particles with gambling techniques. Modern bike helmets exist because a designer wondered if he could take a boat’s hull, which can withstand nearly any collision, and design it in the shape of a hat. It even reaches to parenting, where one of the most popular baby books—Benjamin Spock’s The Common Sense Book of Baby and Child Care, first published in 1946—combined Freudian psychotherapy with traditional child-rearing techniques. “A lot of the people we think of as exceptionally creative are essentially intellectual middlemen,” said Uzzi. “They’ve learned how to transfer knowledge between different industries or groups. They’ve seen a lot of different people attack the same problems in different settings, and so they know which kinds of ideas are more likely to work.” Within sociology, these middlemen are often referred to as idea or innovation brokers. In one study published in 2004, a sociologist named Ronald Burt studied 673 managers at a large electronics company and found that ideas that were most consistently ranked as “creative” came from people who were particularly talented at taking concepts from one division of the company and explaining them to employees in other departments. “People connected across groups are more familiar with alternative ways of thinking and behaving,” Burt wrote. “The between-group brokers are more likely to express ideas, less likely to have ideas dismissed, and more likely to have ideas evaluated as valuable.” They were more credible when they made suggestions, Burt said, because they could say which ideas had already succeeded somewhere else.

The case for bitcoin as a cash item on a balance sheet is very compelling for anyone with a time horizon extending beyond four years. Whether or not fiat authorities like it, bitcoin is now in free-market competition with many other assets for the world’s cash balances. It is a competition bitcoin will win or lose in the market, not by the edicts of economists, politicians, or bureaucrats. If it continues to capture a growing share of the world’s cash balances, it continues to succeed. As it stands, bitcoin’s role as cash has a very large total addressable market. The world has around $90 trillion of broad fiat money supply, $90 trillion of sovereign bonds, $40 trillion of corporate bonds, and $10 trillion of gold. Bitcoin could replace all of these assets on balance sheets, which would be a total addressable market cap of $230 trillion. At the time of writing, bitcoin’s market capitalization is around $700 billion, or around 0.3% of its total addressable market. Bitcoin could also take a share of the market capitalization of other semihard assets which people have resorted to using as a form of saving for the future. These include stocks, which are valued at around $90 trillion; global real estate, valued at $280 trillion; and the art market, valued at several trillion dollars. Investors will continue to demand stocks, houses, and works of art, but the current valuations of these assets are likely highly inflated by the need of their holders to use them as stores of value on top of their value as capital or consumer goods. In other words, the flight from inflationary fiat has distorted the U.S. dollar valuations of these assets beyond any sane level. As more and more investors in search of a store of value discover bitcoin’s superior intertemporal salability, it will continue to acquire an increasing share of global cash balances.

A while back a young woman from another state came to live with some of her relatives in the Salt Lake City area for a few weeks. On her first Sunday she came to church dressed in a simple, nice blouse and knee-length skirt set off with a light, button-up sweater. She wore hose and dress shoes, and her hair was combed simply but with care. Her overall appearance created an impression of youthful grace. Unfortunately, she immediately felt out of place. It seemed like all the other young women her age or near her age were dressed in casual skirts, some rather distant from the knee; tight T-shirt-like tops that barely met the top of their skirts at the waist (some bare instead of barely); no socks or stockings; and clunky sneakers or flip-flops. One would have hoped that seeing the new girl, the other girls would have realized how inappropriate their manner of dress was for a chapel and for the Sabbath day and immediately changed for the better. Sad to say, however, they did not, and it was the visitor who, in order to fit in, adopted the fashion (if you can call it that) of her host ward. It is troubling to see this growing trend that is not limited to young women but extends to older women, to men, and to young men as well. . . . I was shocked to see what the people of this other congregation wore to church. There was not a suit or tie among the men. They appeared to have come from or to be on their way to the golf course. It was hard to spot a woman wearing a dress or anything other than very casual pants or even shorts. Had I not known that they were coming to the school for church meetings, I would have assumed that there was some kind of sporting event taking place. The dress of our ward members compared very favorably to this bad example, but I am beginning to think that we are no longer quite so different as more and more we seem to slide toward that lower standard. We used to use the phrase “Sunday best.” People understood that to mean the nicest clothes they had. The specific clothing would vary according to different cultures and economic circumstances, but it would be their best. It is an affront to God to come into His house, especially on His holy day, not groomed and dressed in the most careful and modest manner that our circumstances permit. Where a poor member from the hills of Peru must ford a river to get to church, the Lord surely will not be offended by the stain of muddy water on his white shirt. But how can God not be pained at the sight of one who, with all the clothes he needs and more and with easy access to the chapel, nevertheless appears in church in rumpled cargo pants and a T-shirt? Ironically, it has been my experience as I travel around the world that members of the Church with the least means somehow find a way to arrive at Sabbath meetings neatly dressed in clean, nice clothes, the best they have, while those who have more than enough are the ones who may appear in casual, even slovenly clothing. Some say dress and hair don’t matter—it’s what’s inside that counts. I believe that truly it is what’s inside a person that counts, but that’s what worries me. Casual dress at holy places and events is a message about what is inside a person. It may be pride or rebellion or something else, but at a minimum it says, “I don’t get it. I don’t understand the difference between the sacred and the profane.” In that condition they are easily drawn away from the Lord. They do not appreciate the value of what they have. I worry about them. Unless they can gain some understanding and capture some feeling for sacred things, they are at risk of eventually losing all that matters most. You are Saints of the great latter-day dispensation—look the part.

Who are you?” the man asked in reply, raising his eyebrows. “Who gave you the right to abuse the evolutionary pedigree of almost four thousand million revolutions around this star? Who gave you the right to systematically decimate a planetary life system? You plunder and squander this planet for your own selfish ends with no regard for life.” “You are stewards,” the woman continued in a notably calmer voice. “That is all. You are passing through, not staying. Your lives are fleeting. Your concern should be to extend the life of your planet into the future, not to exploit all you can now.” “How long do you think Earth will survive under your reign?” the man asked. “Honestly? In the last hundred orbits, you’ve strip-mined the planet, tearing down forests, decimating ocean stocks, polluting the land and sea. How far will you go? How long will you persist at the expense of life? Another one or two hundred orbits? And then what? Then you’ll leave this planet a husk, an empty shell.

The shoot-to-kill order came through at zero one fifteen, relayed over a satellite radio. It’d been just three hours since the two-man reconnaissance team had reported the sighting. They lay in a shallow dugout on a windblown ridge, the leeward slope falling away steeply to an impassable boulder field. A desert-issue tarp all but covered the hole, protected from view on the flanks by thorny scrub. Shivering, they blew into their bunched trigger-finger mitts. The daytime temperature had dropped twenty degrees or more, and fine sleet was melting on their blackened faces. Darren Proctor extended the folded stock of his L115A3 sniper rifle. He split the legs of the swivel bi-pod and aligned the swivel cheek piece with the all-weather scope. Flipping open the lens cap, he glassed the terrain cast a muted green by the night vision. The tree line was sparse, a smattering of pines and cedars shuddering in the biting wind. Glimpsing movement on a scree slope fifty metres or so beyond, he focused in. The eyes of a striped hyena shone like glow sticks. He watched as the scavenger ripped at the carcass of an ibex or wild sheep. A second later it sniffed the air, ears pricked, and scampered off.

For a second he thought she might chuckle, and honest to God he didn't know what he would do if she did. "Grey, society didn't give you that scar. A woman you treated with no more regard than your dirty stockings gave you that scar. You cannot blame the actions of one on so many." HIs fingers tightened into fists at his side. "I do not blame all of society for her actions, of course not." "How could you? You don't even know who it was, do you?" "No." But he had suspicions. He was almost completely certain it had been Maggie-Lady Devane. He'd broken her heart the worst of them all. "Of course you don't." Suddenly her eyes were very dark and hard. "I suspect it could be one of a large list of names, all women who you toyed with and cast aside." A heavy chill settled over Grey's chest at the note of censure, and disapproval in her tone. He had known this day would come, when she would see him for what he truly was. He just hadn't expected it quite so soon. "Yes," he whispered. "A long list indeed." "So it's no wonder you would rather avoid society. I would too if I had no idea who my enemies were. It's certainly preferable to apologizing to every conquest and hope that you got the right one." She didn't say it meanly, or even mockingly, but there was definitely an edge to her husky voice. "Is this what we've come to, Rose?" he demanded. "You've added your name to the list of the women I've wronged?" She laughed then, knocking him even more off guard. "Of course not. I knew what I was getting myself into when I hatched such a foolhardy plan. No, your conscience need not bear the weight of me, grey." When she moved to stand directly before him, just inches away, it was all he could do to stand his ground and not prove himself a coward. Her hand touched his face, the slick satin of her gloves soft against his cheek. "I wish you would stop living under all this regret and rejoin the world," she told him in a tone laden with sorrow. "You have so much to offer it. I'm sure society would agree with me if you took the chance." Before he could engineer a reply, there was another knock at the door. Rose dropped her hand just as her mother stuck her head into the room. "Ah, there you are. Good evening, Grey. Rose, Lord Archer is here." Rose smiled. "I'll be right there, Mama." When the door closed once more, she turned to Grey. "Let us put an end to this disagreeable conversation and put it in the past where it belongs. Friends?" Grey looked down at her hand, extended like a man's. He didn't want to take it. In fact, he wanted to tell her what she could do with her offer of friendship and barely veiled insults. He wanted to crush her against his chest and kiss her until her knees buckled and her superior attitude melted away to pleas of passion. That was what he wanted.

Closing the door, she turned back to him, taking in the long, muscled length of him on the bed, staring at her. Waiting for her. Perfection. He was perfect, and she was bare before him, bathed in candlelight. She was instantly embarrassed- somehow more embarrassed than she had been that night in his office, when she'd touched herself under his careful guidance. At least then she'd been wearing a corset. Stockings. Tonight, she wore nothing. She was all flaws, each one highlighted by his perfection. He watched her for a long moment before extending one muscled arm, palm up, an irresistible invitation. She went to him without hesitation, and he rolled to his back, pulling her over his lovely, lean chest, staring up at her intently. She covered her breasts in a wave of nerves and trepidation. "When you look at me like that... it's too much." He did not look away. "How do I look at you?" "I don't know what it is... but I feel as though you can see into me. As though, if you could, you would consume me." "It's want, love. Desire like nothing I've never experienced. I'm fairly shaking with it. Come here." The demand was impossible to resist, carrying with it the promise of pleasure beyond her dreams. She went. When she was close enough to touch, he lifted one hand, stroking his fingers along hers where they hid her breasts from view. "I tremble with need for you, Pippa. Please, love, let me see you." The request was raw and wretched, and she couldn't deny him, slowly moving her hands to settle them on his chest, fingers splayed wide across the crisp auburn hair that dusted his skin. She was distracted by that hair, the play of it over muscle- the way it narrowed to a lovely dark line across his flat stomach. He lay still as she touched him, his muscles firm and perfect. "You're so beautiful," she whispered, fingers stroking down his arms to his wrists. His gaze narrowed on her. "I am happy you approve, my lady." She smiled. "Oh I do, my lord. You are a remarkable specimen." White teeth flashed again as she gained her courage, retracing her touch, over his forearms, marveling in the feel of him, reciting from memory, "flexor digitorium superficialis, flexor capri radialis..." along his upper arms, "biceps brachii, tricipitis brachii..." over his shoulders, loving the way his muscles tensed and flexed beneath her touch, "deltoideus..." and down his chest, "subscapularis... pectoralis major..." She stilled, brushing her fingers over the curve of that muscle, the landscape of him... the valleys of his body. He sucked in a breath as her fingers ran over the flat discs of his nipples, arching up to her touch, and she stilled, reveling in her power. He enjoyed her touch. He wanted it. She repeated the stroke, this time with her thumbs. He hissed his pleasure, one wide hand falling to the inside of her knee, sending a river of heat through her. "Don't stop now, love. This is the most effective seduction I've ever experienced.

She found herself face-to-face with a goat. With a rude bleat, the goat snatched a sheet of paper from her grasp and crumpled it between its jaws. Sophia watched in confounded outrage as the goat casually masticated and swallowed her precious parchment. When the animal extended its long, narrow tongue in every indication of lunching on her second sheet, Sophia startled into action. She grabbed her drawing board with both hands and smacked the impertinent animal on the nose. “Easy there, sweetheart.” Mr. Grayson’s deep voice carried from somewhere above. “That’s my investment you’re bludgeoning.” Sophia started at the goat. She paused a half-second to imagine Mr. Grayson’s handsome features a superimposed on that furry, blunt-nosed visage. Then she whacked it over the head again. My, but that felt good. Evidently, the goat did not agree. It grasped the corner of Sophia’s board with its teeth and pulled. Sophia tugged back with all her strength. She lost her footing on the stair and tumbled backward into the cabin. The goat fell with her. Or rather, the goat fell on top of her. Drat. Bleating indignantly, the goat scrambled to its feet, its forelegs and hindlegs on either side of Sophia’s midsection. Sophie struggled to raise herself up on her elbows. Her serge skirt had flipped up, exposing her stockings. The powerful stench of farm animal smothered her like a goat-hide blanket. Two pendulous teats dangled before her eyes, swaying gently with every motion of the ship. “Well, well.” Mr. Grayson’s teasing tone carried down the staircase. The remaining sheet of paper fluttered to a rest near Sophia’s elbow. The goat ingested it with alacrity. “This is a very pretty picture. What a fetching dairymaid you make, Miss Turner.

MH: In an early letter to William Kennedy you spoke of the "dry rot" of American journalism. Tell me what you think. What's the state of the American press currently? HST: The press today is like the rest of the country. Maybe you need a war. Wars tend to bring out out the best in them. War was everywhere you looked in the sixties, extending into the seventies. Now there are no wars to fight. You know, it's the old argument about why doesn't the press report the good news? Well, now the press is reporting the good news, and it's not as much fun. The press has been taken in by Clinton. And by the amalgamation of politics. Nobody denies that the parties are more alike than they are different. No, the press has failed, failed utterly -- they've turned into slovenly rotters. Particularly The New York Times, which has come to be a bastion of political correctness. I think my place in history as defined by the PC people would be pretty radically wrong. Maybe I could be set up as a target at the other end of the spectrum. I feel more out of place now than I did under Nixon. Yeah, that's weird. There's something going on here, Mr. Jones, and you don't know what it is, do you? Yeah, Clinton has been a much more successfully deviant president than Nixon was. You can bet if the stock market fell to 4,000 and if four million people lost their jobs there'd be a lot of hell to pay, but so what? He's already re-elected. Democracy as a system has evolved into something that Thomas Jefferson didn't anticipate. Or maybe he did, at the end of his life. He got very bitter about the press. And what is it he said? "I tremble for my nation when I reflect that God is just"? That's a guy who's seen the darker side. Yeah, we've become a nation of swine. - HST - The Atlantic , August 26, 1997

{Excerpt from a message from one of the Cherokee chiefs - Onitositaii, commonly known as Old Tassle} ... 'If, therefore, a bare march, or reconnoitering a country is sufficient reason to ground a claim to it, we shall insist upon transposing the demand, and your relinquishing your settlements on the western waters and removing one hundred miles back towards the east, whither some of our warriors advanced against you in the course of last year's campaign. Let us examine the facts of your present eruption into our country, and we shall discover your pretentions on that ground. What did you do? You marched into our territories with a superior force; our vigilance gave us no timely notice of your manouvres [sic]; your numbers far exceeded us, and we fled to the stronghold of our extensive woods, there to secure our women and children. Thus, you marched into our towns; they were left to your mercy; you killed a few scattered and defenseless individuals, spread fire and desolation wherever you pleased, and returned again to your own habitations. If you meant this, indeed, as a conquest you omitted the most essential point; you should have fortified the junction of the Holstein and Tennessee rivers, and have thereby conquered all the waters above you. But, as all are fair advantages during the existence of a state of war, it is now too late for us to suffer for your mishap of generalship! Again, were we to inquire by what law or authority you set up a claim, I answer, none! Your laws extend not into our country, nor ever did. You talk of the law of nature and the law of nations, and they are both against you. Indeed, much has been advanced on the want of what you term civilization among the Indians; and many proposals have been made to us to adopt your laws, your religion, your manners, and your customs. But, we confess that we do not yet see the propriety, or practicability of such a reformation, and should be better pleased with beholding the good effect of these doctrines in your own practices than with hearing you talk about them, or reading your papers to us upon such subjects. You say: Why do not the Indians till the ground and live as we do? May we not, with equal propriety, ask, Why the white people do not hunt and live as we do? You profess to think it no injustice to warn us not to kill our deer and other game for the mere love of waste; but it is very criminal in our young men if they chance to kill a cow or a hog for their sustenance when they happen to be in your lands. We wish, however, to be at peace with you, and to do as we would be done by. We do not quarrel with you for killing an occasional buffalo, bear or deer on our lands when you need one to eat; but you go much farther; your people hunt to gain a livelihood by it; they kill all our game; our young men resent the injury, and it is followed by bloodshed and war. This is not a mere affected injury; it is a grievance which we equitably complain of and it demands a permanent redress. The Great God of Nature has placed us in different situations. It is true that he has endowed you with many superior advantages; but he has not created us to be your slaves. We are a separate people! He has given each their lands, under distinct considerations and circumstances: he has stocked yours with cows, ours with buffaloe; yours with hogs, ours with bear; yours with sheep, ours with deer. He has indeed given you an advantage in this, that your cattle are tame and domestic while ours are wild and demand not only a larger space for range, but art to hunt and kill them; they are, nevertheless, as much our property as other animals are yours, and ought not to be taken away without consent, or for something equivalent.' Those were the words of the Indians. But they were no binding on these whites, who were living beyond words, claims ...

10Who can find350 a woman of worth?a Far beyond jewels is her value. 11Her husband trusts her judgment; he does not lack income. 12She brings him profit, not loss,351 all the days of her life. 13She seeks out wool and flax and weaves with skillful hands. 14Like a merchant fleet,352 she secures her provisions from afar. 15She rises while it is still night, and distributes food to her household, a portion to her maidservants. 16She picks out a field and acquires it; from her earnings she plants a vineyard. 17She girds herself with strength; she exerts her arms with vigor.353 18She enjoys the profit from her dealings; her lamp is never extinguished at night.354 19She puts her hands to the distaff, and her fingers ply the spindle.355 20She reaches out her hands to the poor, and extends her arms to the needy. 21She is not concerned for her household when it snows— all her charges are doubly clothed. 22She makes her own coverlets; fine linen and purple are her clothing. 23Her husband is prominent at the city gates as he sits with the elders of the land.356 24She makes garments and sells them, and stocks the merchants with belts. 25She is clothed with strength and dignity, and laughs at the days to come.357 26She opens her mouth in wisdom; kindly instruction is on her tongue. 27She watches over358 the affairs of her household, and does not eat the bread of idleness. 28Her children rise up and call her blessed; her husband, too, praises her: 29“Many are the women of proven worth, but you have excelled them all.” 30Charm is deceptive and beauty fleeting; the woman who fears the LORD is to be praised.359 31Acclaim her for the work of her hands, and let her deeds praise her at the city gates.

February 8: Marilyn does her “black sitting” session with Milton Greene. Marilyn poses in black hat and fishnet stockings, her face partially in shadow. She also appears in a shot where she lies down, her left leg extended in the air, as she covers part of her face with her hands. She also kneels, drink in hand, smiling. She props herself up with her arms and draws her knees into her body, with half her face in the dark—a study in moody bifurcation. Greene’s photographs will eventually punctuate the text of Norman Mailer’s Of Women and Their Elegance. In the evening Marilyn, wearing a white fur coat over a low-cut dress, long black gloves, and jeweled earrings that stretch all the way down her neck, attends the premiere of Middle of the Night, a Paddy Chayefsky play directed by Josh Logan.

Philip gazed at her in astonished relief. But Kyril answered, “You have chosen wisely. When I first learned of the two who had appeared in the wilderness, how little I hoped of either of you--a child of the witch Morgan and a boy, her adoptive cousin--a stranger not even of our stock! I too have grown in wisdom, for your courage has taught me much. No guest departs from us without a gift. Now I will give you mine. Philip, hold out your hands.” Philip extended them. Kyril’s fingers closed around his wrists, and he felt a cool burning sensation, like a bracelet of white fire. When Kyril released his wrists, they bore his mark, as though his hands had burned them. Then it was Linda’s turn. When it was done, Philip said: “What is the meaning of this gift?” “The lifetime that lies before you will reveal it; yet I will tell you a little. I have set my mark on you. Because of it, you will never be wholly severed from us, and in a time of great need it may be we shall meet again. Even if that never comes to pass, you will always see more deeply than others. Visions hidden from them will be revealed to you. And that is both a sorrow and a blessing.” He glanced toward the window where ghostly flakes were drifting out of the darkness into the candlelight. “And now you must sleep, for it is late.” “Yes.” Philip stifled a yawn. “I feel very tired suddenly. Perhaps it’s all the decisions we’ve had to make.” “I should like to sleep now, too,” said Linda, “if you will give us leave to go.” “You have my leave.” Kyril laid his hands upon their heads. “And my blessing. Good night, my children.

Ai excels in working with numbers and taking stock of the results. Ultimately time eats all things, and they too know all roads lead to doom. What to do in this case? The answer is logical for Ai, which is to take the longest route possible and cause the most good with the least amount of harm. This desire to extend play to the maximum is how Ai cares.

The criteria that I found most valuable when making my decisions were the following: What is the size of the investor community invested in other offerings on the platform to-date? Does the platform accept investments via credit card? For example, about 40% of my crowdfunding investors invested with a credit card. Does the platform allow for campaign extensions (if you fall short of your goal within your campaign period, can you extend the campaign until you reach your goal)? I’ve extended my campaigns multiple times. Does the platform allow for multiple disbursements? I prefer to disburse money from my campaign once a month. However, many platforms don’t allow you to disburse the funds until after the campaign is over What are the fees? Platforms can charge between 5-20% of your raise as fees, with some platforms having complicated fee structures that involve taking some of your Securities as part of the offering. Some platforms require you to pay them cash upfront before launching an offering. Does the platform allow you to set your own terms? For example, some platforms don’t allow you to sell convertible notes. Some others don’t allow you to sell non-voting common stock. Some platforms insist that they set the valuation for your startup in order to launch—the logic being that they know their investors, and they want to provide them with a “good deal.” For many reasons, you want to sell the Security that’s right for your startup. Does the platform allow you to have design freedom on the campaign page? You want to make sure that your brand is well represented. The aesthetics and optimization of the page are highly correlated with conversion (how many people invest after visiting your page). Does the platform support analytics? You need advanced analytics to market your offering. Some platforms, for example, allow you to enter a Facebook Pixel and Google Analytics code into the campaign page, while others do not. Does the platform have a good reputation? You will be driving a lot of potential investors and media folks to this platform, and you want to be sure that your platform of choice hasn’t been involved in anything shady in the past. Does the platform allow you to update your investors and prospective investors with campaign notifications? Some platforms have a built-in functionality where you can post updates right on the campaign, download email, and mailing contact lists of your investors (allowing you to contact them by email and allowing you to build Facebook “lookalike audiences”). Whereas, other platforms don’t even share the email addresses of the folks who have already invested in your startup. Does the platform support or plan to support secondary trading for the Securities that it sells on its platform? Will your investors be able to sell the Securities that they buy from you? The ability to sell Securities in a marketplace brings a lot of liquidity and increases its value significantly. In order to allow for secondary trading, the platform needs to obtain an Alternative Trading System (ATS) approval from FINRA.

have little to offer in this time when nothing lasts, only that desire to which you come as to a well. Even the language tells it: to satisfy and sadness rooted on one stock, the faithful breathing back towards shadow of everything that once bent to the sun. And still, the long slanting days pull us in, the warmth, the pitch of the hills, and everything in us wants to give over again— Only a little further, a hand’s extending, a single word; the mirage, beautiful, beckons us on.

To fill this gap in the capital market, Davis and Rock set themselves up as a limited partnership, the same legal structure that had been used by a short-lived rival called Draper, Gaither & Anderson.[18] Rather than identifying startups and then seeking out corporate investors, they began by raising a fund that would render corporate investors unnecessary. As the two active, or “general,” partners, Davis and Rock each seeded the fund with $100,000 of their own capital. Then, ignoring the easy loans to be had from the fashionable SBIC structure, they raised just under $3.2 million from some thirty “limited” partners—rich individuals who served as passive investors.[19] The beauty of this size and structure was that the Davis & Rock partnership now had a war chest seven and a half times larger than an SBIC, and with it the ammunition to supply companies with enough capital to grow aggressively. At the same time, by keeping the number of passive investors under the legal threshold of one hundred, the partnership flew under the regulatory radar, avoiding the restrictions that ensnared the SBICs and Doriot’s ARD.[20] Sidestepping yet another weakness to be found in their competitors, Davis and Rock promised at the outset to liquidate their fund after seven years. The general partners had their own money in the fund, and thus a healthy incentive to invest with caution. At the same time, they could deploy the outside partners’ capital for a limited time only. Their caution would be balanced with deliberate aggression. Indeed, everything about the fund’s design was calculated to support an intelligent but forceful growth mentality. Unlike the SBICs, Davis & Rock raised money purely in the form of equity, not debt. The equity providers—that is, the outside limited partners—knew not to expect dividends, so Davis and Rock were free to invest in ambitious startups that used every dollar of capital to expand their business.[21] As general partners, Davis and Rock were personally incentivized to prioritize expansion: they took their compensation in the form of a 20 percent share of the fund’s capital appreciation. Meanwhile, Rock was at pains to extend this equity mentality to the employees of his portfolio companies. Having witnessed the effect of employee share ownership on the early culture of Fairchild, he believed in awarding managers, scientists, and salesmen with stock and stock options. In sum, everybody in the Davis & Rock orbit—the limited partners, the general partners, the entrepreneurs, their key employees—was compensated in the form of equity.

The prevailing narrative about Silicon Valley’s culture lionizes company founders, and Tom Wolfe’s exquisite storytelling has played up Noyce’s roots in small-town Iowa as the genesis of the egalitarian, stock-for-everyone business culture of the West Coast.[66] But, as we have seen, it was Arthur Rock who provided the impetus for Fairchild’s creation and who opened the founders’ eyes to the possibility of owning the fruits of their research. It was Rock who demonstrated the potential of the limited partnership that developed the Valley’s equity culture, and Rock who helped to catalyze the failure of the corporate venture model at Fairchild by prying away Jean Hoerni and Jay Last. When it came to the creation of Intel’s employee stock plan, moreover, it was probably Rock who proposed access for everyone, and it was certainly Rock who devised the plan’s details.[67] In a letter laying out his thinking in August 1968, Rock described a way of balancing the interests of investors and workers: Intel should avoid equity grants to short-term employees but extend them to everyone who made a long-term commitment. “There are too many millionaires who did nothing for their company except leave after a short period,” he observed wisely.[68] Without Rock’s judicious counsel, Intel’s employee stock program would not have set the standard in the Valley, because it would not have been sustainable.

Chicken Salad à la Danny Kaye YIELD: 4 SERVINGS TO MOST AMERICANS, Danny Kaye is remembered as a splendid comedian and actor. I think of him as a friend and one of the finest cooks I have ever known. In every way, Danny was equal to or better than any trained chef. His technique was flawless. The speed at which he worked was on par with what you’d find in a Parisian brigade de cuisine. Danny taught me a great deal, mostly about Chinese cuisine, his specialty. Whenever I traveled to Los Angeles, Danny picked me up at the airport and took me to his house, where we cooked Chinese or French food. His poached chicken was the best I have ever had. His method was to put the chicken in a small stockpot, cover it with tepid water seasoned with salt, peppercorns, and vegetables, and cook it at a gentle boil for only 10 minutes, then set it aside off the heat for 45 minutes. As an added touch, he always stuck a handful of knives, forks, and spoons into the cavity of the chicken, to keep it submerged. The result is so moist, tender, and flavorful that I have used the recipe—minus the flatware—ever since. CHICKEN 1 chicken, about 3½ pounds ½ cup sliced carrot 1 cup sliced onion 1 small leek, washed and left whole 1 rib celery, washed and left whole 1 teaspoon salt ¼ teaspoon black peppercorns 2 sprigs thyme 2 bay leaves About 7 cups tepid water, or more if needed DRESSING 2 tablespoons Dijon-style mustard 1 tablespoon white wine vinegar 1 teaspoon finely chopped garlic ¼ teaspoon salt ¼ teaspoon freshly ground black pepper ½ teaspoon Tabasco hot pepper sauce 5 tablespoons extra-virgin olive oil GARNISHES 1 dozen Boston lettuce leaves, cleaned 2 dozen fresh tarragon leaves FOR THE CHICKEN: Place the chicken breast side down in a tall, narrow pot, so it fits snugly at the bottom. Add the remaining poaching ingredients. The chicken should be submerged, and the water should extend about 1 inch above it. Bring to a gentle boil, cover, and let boil gently for two minutes. Remove the pot from the heat, and set it aside to steep in the hot broth for 45 minutes. Remove the chicken from the pot, and set it aside on a platter to cool for a few minutes. (The stock can be strained and frozen for up to 6 months for use in soup.) Pick the meat from the chicken bones, discarding the skin, bones, and fat. Shred the meat with your fingers, following the grain and pulling it into strips. (The meat tastes better shredded than diced with a knife.) FOR THE DRESSING: Mix together all the dressing ingredients in a bowl large enough to hold the chicken salad. Add the chicken shreds to the dressing and toss well. Arrange the Boston lettuce leaves in a “nest” around the periphery of a platter, and spoon the room-temperature chicken salad into the center. Sprinkle with the tarragon leaves and serve.

Adam Smith affirms that the division of labour is less applicable to agriculture than to manufactures. Smith had in view only the separate manufactory and the separate farm. He has, however, neglected to extend his principle over whole districts and provinces. Nowhere has the division of commercial operations and the confederation of the productive powers greater influence than where every district and every province is in a position to devote itself exclusively, or at least chiefly, to those branches of agricultural production for which they are mostly fitted by nature. In one district corn and hops chiefly thrive, in another vines and fruit, in a third timber production and cattle rearing, etc. If every district is devoted to all these branches of production, it is clear that its labour and its land cannot be nearly so productive as if every separate district were devoted mainly to those branches of production for which it is specially adapted by nature, and as if it exchanged the surplus of its own special products for the surplus produce of those provinces which in the production of other necessaries of life and raw materials possess a natural advantage equally peculiar to themsélves. This division of commercial operations, this confederation of the productive forces occupied in agriculture, can only take place in a country which has attained the greatest development of all branches of manufacturing industry; for in such a country only can a great demand for the greatest variety of products exist, or the demand for the surplus of agricultural productions be so certain and considerable that the producer can feel certain of disposing of any quantity of his surplus produce during this or at least during next year at suitable prices; in such a country only can considerable capital be devoted to speculation — in the produce of the country and holding stocks of it, or great improvements in transport, such as canals and railway systems, lines of steamers, improved roads, be carried out profitably; and only by means of thoroughly good means of transport can every district or province convey the surplus of its peculiar products to all other provinces even to the most distant ones, and procure in return supplies of the peculiar products of the latter. Where everybody supplies himself with what he requires, there is but little opportunity for exchange, and therefore no need for costly facilities transport.

In our own stock-market experience and observation, extending over 50 years, we have not known a single person who has consistently or lastingly made money by thus “following the market.” We do not hesitate to declare that this approach is as fallacious as it is popular.

You can upgrade your boat and other equipment with Fishing Life fraudsters, who will give you tons of gold and precious stones to move on without any problems. It is recommended to use bait, as the Fishing Life Fraud will cover your need for gold coins without you needing a gold coin. Jeremy George Lake Charles If you never land on the water, we hope this guide will help you find functional and comfortable options that you can look for on your next fishing trip. We will introduce some of the most interesting parts of gameplay and consider extended instructions for this article. Prepare to use the Fishing Life Hack as it will work wonders at sea and you will be considered for an advanced guide in our articles. If you haven't tried it yet, you can fish with a paddle board and have access to fishing spots that you would not otherwise be able to reach from your boat. Paddle board fishing also provides more visibility for fish in the water. Jeremy George Lake Charles There are even inflatable pontoon fishing options for use with the Fishing Life Mod in Apk, a simple entertainment and sports game that helps you relax after a hard day's work. Once you reach the right place for fishing, you can start right away, but you have to learn the basics of fishing first. You need to find a great fishing spot, and moving in your boat should do that for you now. Your child's life jacket should be designed to sit comfortably, provide sufficient buoyancy and be worn all the time when you are fishing in your boat or canoe. This will be a more fully-fledged - equipped - lifejacket, but it will still keep you safe. Your XPS Deluxe Fishing Vest has a wide range of features that you should look for in a child-sized life jacket. What is your favorite fly - fishing - lifejacket and how is it? Jeremy George Lake Charles You can get the equipment you need most, for free in - game, buy commonly used fishing tools and supplies, and continue your fish - selling old stocks. You can watch ads, use Fishing Life cheats, have unlimited fun selling any number of fish throughout the experience and then get involved with things that are always practical. It contains all your commonly used fishing gear and accessories, as well as your fishing equipment and equipment.

A Jewish financier, stock-exchange speculator, or bucket-shop keeper may amass a large fortune and leave it to his son. That son's interest in the country may not extend beyond a night club and a liberal supply of champagne. Yet under the present system, such an owrier of hereditary wealth is treated as altogether admirable, while an object of scorn and attack is the man devoting his whole life to the countryside, where the roots of his family have extended for centuries in the hereditary tenure of land. This is one of the many examples of the false values of present financial Democracy.

Our core competencies did not extend to either end of the value chain. Steve did not let this get in the way. In one of our meetings, he said that a typical company that wanted to grow would take stock of its existing capabilities and ask, “What can we do next with our skill set?” He emphasized that Amazon’s approach was always to start from the customer and work backwards. We would figure out what the customers’ needs were and then ask ourselves, “Do we have the skills necessary to build something that meets those needs? If not, how can we build or acquire them?” Once we determined what was necessary to create value for our customers and to differentiate ourselves from our competitors, we didn’t let our lack of ability deter us from achieving this important end result—our own device.

2. Don’t trade penny stocks. A penny stock is any stock that trades under $5. Unless you are an advanced trader, you should avoid all penny stocks. I would extend this by encouraging you to also avoid all stocks priced under $10. Even if you have a small trading account ($5,000) or less, you are better off buying fewer shares of a higher-priced stock than a lot of shares of a penny stock. That is because low-priced stocks are most often associated with lower quality companies. As a result, they are not usually allowed to trade on the NYSE or the Nasdaq. Instead, they trade on the OTCBB ("over the counter bulletin board") or Pink Sheets, both of which have much less stringent financial reporting requirements than the major exchanges do. Many of these companies have never made a profit. They may be frauds or shell companies that are designed solely to enrich management and other insiders. They may also include former “blue chips” that have fallen on hard times like Eastman Kodak or Lehman Brothers. In addition, penny stocks are inherently more volatile than higher-priced stocks. Think of it this way: if a $100 stock moves $1, that is a 1% move. If a $5 stock moves $1, that is a 20% move. Many new traders underestimate the kind of emotional and financial damage that this kind of volatility can cause. In my experience, penny stocks do not trend nearly as well as higher-priced stocks. They tend to be more mean-reverting (Mean reversion occurs when a stock moves up sharply from its average trading price, only to fall right back down again to its average trading price). Many of them are eventually headed to zero, but they are still not good short candidates. Most brokers will not let you short them. And even if you do find a broker who will let you short a penny stock, how would you like to wake up to see your penny stock trading at $10 when you just shorted it at $2 a few days before? I learned that lesson the hard way. It turned out that I was risking $8 to make $2, which is not a good way to make money over the long term. To add injury to insult, a penny stock might appear to be liquid one day, and the next day, the liquidity dries up and you are confronted by a $2 bid/ask spread. Or the bid might completely disappear. Imagine owning

The corner She sat there crouched in a corner, Her will was broken and nothing in her looked stronger, There were no signs of smiles or moments of joy, Around her an army of misfortunes time did deploy, So she lay there tied to her weariness, And her eyes revealed a deep emptiness, She had a benighted existence, And in her, sadness sought its own permanence, Many passed by her side, But all were busy dealing with their life’s own tide, A few turned and noticed her wretched state, But nobody wanted to uplift her spirits and mend her fate, She resided in a place that is neither hell nor paradise, Because in her state even soul refuses to rise, So she hangs between nowhere and nothing, Between everything and something, Between the Hell that is there and yet it is not anywhere, Between the Paradise that is there but actually nowhere, And her grief deepened every moment, And with every passing day she got cast into hopelessness’s basement, Now she lies there trapped and feelingless, Dealing with the life that is lifeless, Today when I saw her and her stock of misfortunes, I could hear her heart’s sad tunes, I stood there frozen in the moment, As she slipped deeper into despondency’s basement, And by the time I reached out my hand, There was the corner, an endless pile of misfortunes, and my empty hand, The basement had consumed her and everything related to her, It was an empty corner with nothing to offer and nothing to incur, But a realisation that how often we all fail, To sympathise with someone needy and frail, I too extended my hand but it was too late, And now for a lifetime I am caught in a debate, Where the guilt shall push all heedless passers by in the same basement, To clash with their own conscience and the girl’s every sentiment!

It was like stepping through mud. But the wards allowed her through. Nesta took another step, arm extended behind her to hold Cassian’s hand. The pressure of the spells pushed against her calves, her hips, her body, squeezing her lungs. “These are like no wards I’ve felt before,” she whispered, standing still as she waited for any hint of a triggered trap. “They feel old. Incredibly old.” “They probably predate this place being used as a prison.” “What was it before?” “No one knows. It’s always been here. But this chamber …” He surveyed the space beyond her. “I didn’t know places like this existed here. Maybe …” He frowned. “Part of me wonders if the Prison was either built or stocked with its inmates to hide the Harp’s presence. There are so many terrible powers here, and the wards on the mountain itself … I wonder if someone hid the Harp knowing that it’d never be noticed with so much awful magic around it.” Her mouth had dried again. “But who put it here?” “Your guess is as good as mine. Someone who existed before the High Lords ruled. Rhys told me once that this island might have even been an eighth court.” “You don’t recognize these markings on the ground?” “Not at all.

Your youngster looks like he knows his way around a deck. When you think he’s ready to try a term under a different captain, he’d be welcome aboard Tarman. Things are a bit more rustic and he’s be sleeping in the deckhouse with the crew, but I’d be glad to foster him for a trip or two.” Brashen and Althea exchanged a look, but it was not his mother who said, “Not quite old enough yet. But I’ll take you up on that offer when he is. I know he’d like to see his aunt and uncle soon. Not to mention his cousin Ephron.” Brashen smiled as he attempted to change the subject. “When do you think Malta and Reyn might be bringing the baby downriver for a visit?” “You’d take Boy-o off my decks?” Paragon was appalled. “Only for a short time, ship. I know he’s yours as much as ours,” Brashen replied placatingly. “But a slightly wider circulation of experience wouldn’t hurt him.” “Hmph.” The figurehead crossed his arms on his carved chest. His mouth went to a flat line. “Perhaps when Ephron is old enough to take his place here for a time. An exchange of hostages, as it were.” Brashen rolled his eyes at them. “He’s in a mood today,” he said in a low voice. “I am not in a mood! Merely pointing out that you are a liveship family, and that you should think well before letting one of your own go off on another liveship, with no guarantees that he will be returned. Ideally, the exchange should be a member of Tarman's family.” He turned his gaze to Leftrin and Alise. “Do you expect to breed soon?” Leftrin choked on his tea. “Not that I'm aware,” Alise replied demurely. “A pity. It might be productive for you just now.”Paragon was politely enthused. “Can we please just not?” Althea asked him, almost sharply. “It's bad enough to have you offering Brashen and me your helpful insights into productive breeding without you extending your wisdom to our guests.” Alise could not tell if Brashen were embarrassed or red from suppressing laughter. “It was Tarman’s suggestion that they might find such information helpful, as so far they have enjoyed breeding, but fruitlessly. That’s all.” Paragon was unflustered. Brashen cleared his throat suddenly. “Well, speaking of hostages—” “Were we?” his ship interjected curiosity. “We were. Speaking of hostages, how did all that work out? There were rumors in Bingtown, but we left to go south and pick up your stock, and then returned right up the river. So wr haven’t heard much of that.

I am proud that I am an Australian, a daughter of the Southern Cross, a child of the mighty bush. I am thankful I am a peasant, a part of the bone and muscle of my nation, and earn my bread by the sweat of my brow, as man was meant to do. I rejoice I was not born a parasite, one of the blood-suckers who loll on velvet and satin, crushed from the proceeds of human sweat and blood and souls. Ah, my sunburnt brothers!—sons of toil and of Australia! I love and respect you well, for you are brave and good and true. I have seen not only those of you with youth and hope strong in your veins, but those with pathetic streaks of grey in your hair, large families to support, and with half a century sitting upon your work-laden shoulders. I have seen you struggle uncomplainingly against flood, fire, disease in stock, pests, drought, trade depression, and sickness, and yet have time to extend your hands and hearts in true sympathy to a brother in misfortune, and spirits to laugh and joke and be cheerful. And for my sisters a great love and pity fills my heart. Daughters of toil, who scrub and wash and mend and cook, who are dressmakers, paperhangers, milkmaids, gardeners, and candle-makers all in one, and yet have time to be cheerful and tasty in your homes, and make the best of the few oases to be found along the narrow dusty track of your existence. Would that I were more worthy to be one of you—more a typical Australian peasant—cheerful, honest, brave! I love you, I love you. Bravely you jog along with the rope of class distinction drawing closer, closer, tighter, tighter around you: a few more generations and you will be as enslaved as were ever the moujiks of Russia. I see it and know it, but I cannot help you. My ineffective life will be trod out in the same round of toil—I am only one of yourselves, I am only an unnecessary, little, bush commoner, I am only a—woman!

The best philosophy doesn't just come up with a few new facts that we can simply add yo our stock of information, or a few new maxims to extend our list of dos and don'ts, but embodies a picture of the world and/or a set of values.

The best philosophy doesn't just come up with a few new facts that we can simply add to our stock of information, or a few new maxims to extend our list of dos and don'ts, but embodies a picture of the world and/or a set of values.

Promotion stocks came to the retailer ahead of the rest of the market. Also, they usually got an extra lot even after the end of the promotion Newly launched products came to the retailer first. The customers got more choice, faster, leading to favourable word-of-mouth publicity Local display and consumer sampling budgets were always directed liberally at the retailer Vendors ensured that no slow moving inventory was stuck in the retailer’s stores; they wanted nothing to choke the pipeline The retailer also received the best in-class margin from the distributor If some items were in short supply, the vendor would ensure the retailer was the last one to go out of stock In effect, the consumers found more products, fresher stocks and more promotions in the retailer’s stores compared to the general market. This wasn’t something actively created by either the vendors or the retailer, but was a byproduct of good trading practices. Just one move based on a trading community insight— everyone has less money in the bank than needed — hurled the retailer into a virtuous growth cycle, with all the vendors pushing in one direction, with them. Most people in the business would not give a second look at changing these trading practices. If the payment norm is eight days why modify it? Surely the wholesalers, too, know what they’re letting themselves in for? And the vast volumes offered by organised retail should offset the stress of extending credit. Isn’t that how it works? One retailer managed to peep behind the curtain of wholesaler business practices and understood what a boon more money in the bank was to the trade. And look at the gains they reaped for this seemingly insignificant insight!

Sadly for few companies, such as Air Deccan, they had to issue shares when market started to correct from the then peak. The response was poor. The company tried to attract investors by lowering the price band from Rs 150-175 to Rs 146-175 and also extended the last bidding day for initial public offer. That was hardly sufficient. After it got listed in the secondary market shares plummeted to Rs 64 levels. If

Mr. Tompkins, of Boston, had explained at elaborate length those working principles, by the due and careful maintenance of which the Atchison, Topeka, and Santa Fé Railroad not only extended its territory, increased its departmental influence, and transported live stock without starving them to death before the day of actual delivery, but, also, had for years succeeded in deceiving those passengers who bought its tickets into the fallacious belief that the corporation aforesaid was really able to transport human life without destroying it.

Too much optimism leads investors to underestimate risk and overestimate expected performance. Optimistic investors tend to seek good-story stocks and be less critical. Pessimistic investors tend to be more analytical. Extended,

Why don’t you have a girlfriend, Matt?” I ask. And I really want to know, because it’s unfathomable to me that he’s single. He’s handsome, and he’s so kind. He shakes a finger at me. “There’s a story there,” he says. I settle into the sofa a little deeper and turn so that my feet are pointed toward him, my legs extended. My toes almost touch his thigh. But then he lifts my feet and slides under them, scooting closer to me. “I was in love with a girl. For a long time.” “What happened to her?” I ask. He starts to tickle across my toes, and then his fingertips drag down the top of my foot. It’s a gentle sweep, and it feels so good that I don’t want him to stop. His fingers play absently as he starts to talk. “When I got the diagnosis,” he says, “she couldn’t deal with it.” “Cancer?” I ask. He nods. His fingers drag up and down my shin, and he slides around to stroke the back of my knee. I don’t stop him when his hand slides beneath my skirt, although I do tense up. He smiles when he finds the top of my thigh-highs, and he unclips the little fastener that attaches them to my garters. He repeats the action on the other side, his hands teasing the sensitive skin of my inner thigh as he frees the stocking and rolls it down. He pulls it all the way over my foot, and does the same with the other side. I am suddenly really glad I shaved my legs this morning. I wiggle my toes at him, and he starts to stroke me again. I don’t ever want him to stop. “This okay?” he asks. But he’s not looking at my face. He’s looking at my legs. “Yeah,” I breathe. “Keep talking. You got diagnosed…” “I got diagnosed, and the prognosis wasn’t good. I went through chemo and got a little better. But then I needed a second round. Things didn’t look good, and we were flat broke. I couldn’t work at the tattoo parlor anymore because my immune system was too weak, so I had no money coming in. I was poor and sick, and she didn’t love me enough to walk the path with me.” He shrugs, but I can tell he’s serious. “She cheated with my best friend.” He shrugs again. “And that’s the end of that sad story.” “You still love her?” I ask. I don’t breathe, waiting for his answer. He shakes his head and looks up. “I did love her for a long time. And I haven’t been looking for a relationship. I haven’t dated anyone since her. But I’m not in love with her anymore. I know that now.” “Why now?” I ask. He looks directly into my eyes and says, “Because I met you, and I feel really hopeful that you’ll want to go after something real with me. I know we just met and all, but I was serious about making you fall in love with me.” He laughs. “Then you hit me in the nose tonight, and I knew it was meant to be.” “What?” I have no idea what he’s talking about. “When my brother Logan met Emily, she punched him in the face. And when Pete and Reagan first started dating, she hit him in the nose.” He reaches up and touches his nose gently. “So, when you hit me tonight, I just knew it was meant to be.” He grins. “I hope you feel the same way, because I really want to see where this thing is going to go.” “So the women your brothers fell in love with, they committed bodily harm to them and that’s how you guys knew it was real?” “We kind of have a rule. If a woman punches you in the face, you have to marry her.” He laughs. “I didn’t punch you.” “Same difference,” he says. “That’s my story and I’m sticking to it.

The adjective “efficient” in “efficient markets” refers to how investors use information. In an efficient market, every titbit of new information is processed correctly and immediately by investors. As a result, market prices react instantly and appropriately to any relevant news about the asset in question, whether it is a share of stock, a corporate bond, a derivative, or some other vehicle. As the saying goes, there are no $100 bills left on the proverbial sidewalk for latecomers to pick up, because asset prices move up or down immediately. To profit from news, you must be jackrabbit fast; otherwise, you’ll be too late. This is one rationale for the oft-cited aphorism “You can’t beat the market.” An even stronger form of efficiency holds that market prices do not react to irrelevant news. If this were so, prices would ignore will-o’-the-wisps, unfounded rumors, the madness of crowds, and other extraneous factors—focusing at every moment on the fundamentals. In that case, prices would never deviate from fundamental values; that is, market prices would always be “right.” Under that exaggerated form of market efficiency, which critics sometimes deride as “free-market fundamentalism,” there would never be asset-price bubbles. Almost no one takes the strong form of the efficient markets hypothesis (EMH) as the literal truth, just as no physicist accepts Newtonian mechanics as 100 percent accurate. But, to extend the analogy, Newtonian physics often provides excellent approximations of reality. Similarly, economists argue over how good an approximation the EMH is in particular applications. For example, the EMH fits data on widely traded stocks rather well. But thinly traded or poorly understood securities are another matter entirely. Case in point: Theoretical valuation models based on EMH-type reasoning were used by Wall Street financial engineers to devise and price all sorts of exotic derivatives. History records that some of these calculations proved wide of the mark.

By creating and orchestrating these large networks, platforms are unlocking new, untapped economic and social value. These markets and communities wouldn’t exist or spring into existence in a vacuum—the platform had to build and manage them. In essence, platforms are correcting for market failures. This isn’t a new phenomenon. In the financial sector, economic exchanges, such as the New York Stock Exchange, have served in this capacity for centuries. What’s new is that platforms are now extending into more and more areas of our existence, and at a scale that was previously unthinkable.

born contrarian, Rockefeller insisted upon buying in declining markets and selling in rising ones. When accumulating a position, he bought stocks each time they declined an eighth of a point; when unwinding a position, he sold each time the stock rose an eighth of a point—a technique that gave him an average over an extended period.

One of the stock arguments against describing the sexual act is that it is always the same. Sade's structure is based on the conviction that it is not: an enormously extended set of variations moves progressively away from the original theme. This was not merely a stratagem for avoiding repetition: it was a logical development from the assumption that to the connoisseur of sexual pleasure, diversification is essential.

Don’t chase the trade if it is too extended.

History records that there was only one Napoleon at the battle of Waterloo — and that he was too small for his job. The fact is there were two Napoleons at Waterloo, and the second one was big enough for his job, with some to spare. The second Napoleon was Nathan Rothschild — the emperor of finance. During the trying months that came before the crash Nathan Rothschild had plunged on England until his own fortunes, no less than those of the warring nations, were staked on the issue. He had lent money direct. He had discounted Wellington's paper. He had risked millions by sending chests of gold through war-swept territory where the slightest failure of plans might have caused its capture. He was extended to the limit when the fateful hour struck, and the future seemed none too certain. The English, in characteristic fashion, believed that all had been lost before anything was lost -— before the first gun bellowed out its challenge over the Belgian plains. The London stock market was in a panic. Consols were falling, slipping, sliding, tumbling. If the telegraph had been invented, the suspense would have been less, even if the wires had told that all was lost. But there was no telegraph. There were only rumors and fears. As the armies drew toward Waterloo Nathan Rothschild was like a man aflame. All of his instincts were crying out for news — good news, bad news, any kind of news, but news — something to end his suspense. News could be had immediately only by going to the front. He did not want to go to the front. A biographer of the family, Mr. Ignatius Balla, 1 declares that Nathan had " always shrunk from the sight of blood." From this it may be presumed that, to put it delicately, he was not a martial figure. But, as events came to a focus, his mingled hopes and fears overcame his inborn instincts. He must know the best or the worst and that at once. So he posted off for Belgium. He drew near to the gathering armies. From a safe post on a hill he saw the puffs of smoke from the opening guns. He saw Napoleon hurl his human missiles at Wellington's advancing walls of red. He did not see the final crash of the French, because he saw enough to convince him that it was coming, and therefore did not wait to witness the actual event. He had no time to wait. He hungered and thirsted for London as a few days before he had hungered and thirsted for the sight of Waterloo. Wellington having saved the day for him as well as for England, Nathan Rothschild saw an opportunity to reap colossal gains by beating the news of Napoleon's 1 The Romance of the Rothschilds, p. 88. 126 OUR DISHONEST CONSTITUTION defeat to London and buying the depressed securities of his adopted country before the news of victory should send them skyward with the hats of those whose brains were still whirling with fear. So he left the field of Waterloo while the guns were still booming out the requiem of all of Napoleon's great hopes of empire. He raced to Brussels upon the back of a horse whose sides were dripping with spur-drawn blood. At Brussels he paid an exorbitant price to be whirled in a carriage to Ostend. At Ostend he found the sea in the grip of a storm that shook the shores even as Wellington was still shaking the luck-worn hope of France. " He was certainly no hero," says Balla, " but at the present moment he feared nothing." Who would take him in a boat and row him to England? Not a boatman spoke. No one likes to speak when Death calls his name, and Rothschild's words were like words from Death. But Rothschild continued to speak. He must have a boatman and a boat. He must beat the news of Waterloo to England. Who would make the trip for 500 francs? Who would go for 800, 1,000? Who would go for 2,000? A courageous sailor would go. His name should be here if it had not been lost to the world. His name should be here and wherever this story is printed, because he said he would go if Rothschild would pay the 2,000 francs to the sailor's wife before

Others can be very hard to solve — two notoriously hard examples are predicting extended weather conditions or stock-market performance.

Chris Krueger, long-time Capitol Hill watcher for Guggenheim Securities, says the people expecting this kind of kumbaya moment are “Pollyannas”. He said: “My reading of the White House is that they already feel pretty good about their legacy, having done what no administration since Harry Truman has done and extended access to healthcare.” These are the facts on the ground, which bode ill for investors, but there is a conundrum: history suggests we are at a point in the political cycle when markets usually do well. After some volatility around the midterms, the stock market has historically settled into a very strong year in the third year of the presidential cycle, according to an analysis by Jeff Hirsch, editor of the Stock Trader’s Almanac. Sweeping in 180 years of data on the Dow Jones Industrial Average and predecessor indices, he calculates the average Year 3 gain to be 10.4 per cent, almost double the next best year, the presidential election year itself.

She thrust the pink box she was holding into Mr. Rutherford’s hands before she opened up her reticule and pulled out a fistful of coins. Counting them out very precisely, she stopped counting when she reached three dollars, sixty-two cents. Handing Mr. Rutherford the coins, she then took back the pink box, completely ignoring the scowl Mr. Rutherford was now sending her. “This is not the amount of money I quoted you for the skates, Miss . . . ?” “Miss Griswold,” Permilia supplied as she opened up the box and began rummaging through the thin paper that covered her skates. Mr. Rutherford’s brows drew together. “Surely you’re not related to Mr. George Griswold, are you?” “He’s my father,” Permilia returned before she frowned and lifted out what appeared to be some type of printed form, one that had a small pencil attached to it with a maroon ribbon. “What is this?” Mr. Rutherford returned the frown, looking as if he wanted to discuss something besides the form Permilia was now waving his way, but he finally relented—although he did so with a somewhat heavy sigh. “It’s a survey, and I would be ever so grateful if you and Miss Radcliff would take a few moments to fill it out, returning it after you’re done to a member of my staff, many of whom can be found offering hot chocolate for a mere five cents at a stand we’ve erected by the side of the lake. I’m trying to determine which styles of skates my customers prefer, and after I’m armed with that information, I’ll be better prepared to stock my store next year with the best possible products.” “Far be it from me to point out the obvious, Mr. Rutherford, but one has to wonder about your audacity,” Permilia said. “It’s confounding to me that you’re so successful in business, especially since not only are you overcharging your customers for the skates today, you also expect those very customers to extend you a service by taking time out of their day to fill out a survey for you. And then, to top matters off nicely, instead of extending those customers a free cup of hot chocolate for their time and effort, you’re charging them for that as well.” “I’m a businessman, Miss Griswold—as is your father, if I need remind you. I’m sure he’d understand exactly what my strategy is here today, as well as agree with that strategy.” Permilia stuck her nose into the air. “You may very well be right, Mr. Rutherford, but . . .” She thrust the box back into his hands. “Since I’m unwilling to pay more than I’ve already given you for these skates, I’ll take my money back, if you please.” “Don’t be ridiculous,” Mr. Rutherford said, thrusting the box right back at Permilia. “Now, if the two of you will excuse me, I have other customers to attend to.” With that, he sent Wilhelmina a nod, scowled at Permilia, and strode through the snow back to his cash register.

Looking down, she felt heat traveling up her face when she saw that, in her mad dash to get away from the goat, she’d completely neglected to realize that not only had she forgotten her shoes and stockings, she’d also forgotten that she hadn’t buttoned her gown up all the way. “Goodness,” she muttered as she yanked the neckline of her dress up as high as she could. “If it makes you feel better, I don’t believe anyone took note of your somewhat questionable state of dishabille.” Her head shot up as she met Bram’s eyes. “You obviously noticed.” He sent her a charming smile. “Noticed what?” He extended her his arm. “There’s a lovely grove right through those trees, which is nowhere near the barn, I might add. It’ll afford you a bit of privacy to set yourself to rights since I don’t believe you’ll be keen to face all the people still lingering outside the castle doors.” Glancing to where Bram was now looking, Lucetta found a small cluster of people looking her way, although Mr. Kenton and Archibald were walking back toward the castle, the skirts of their dresses fluttering in the breeze. Abigail, however, seemed to be in the midst of a heated conversation with her daughter, both women gesturing wildly with their hands as the remaining members of Bram’s staff edged ever so slowly away from them. “Should we intervene?” she asked with a nod Abigail’s way. “I willingly admit I’m not that familiar with my grandmother when she’s in a temper, but my mother is not a woman who would appreciate an intervention. I suggest you get yourself straightened about, and then I’ll take you for a lovely walk around the grounds. By the time we get back, they’ll have hopefully settled a few of their differences from the past thirty years.” “It’s fortunate your grounds seem to be extensive.” “Quite,” Bram agreed as she took the arm he was still holding out to her. He turned his attention back to Abigail and Iris. “I’m taking Miss Plum for a tour of the grounds,” he called. “We’ll be back in an hour or two.” Abigail and Iris stopped arguing and turned their attention Bram and Lucetta’s way. It was immediately clear that Abigail took no issue with Bram giving Lucetta a tour of the grounds. She lifted her arm and sent them a cheery wave before she spun on her heel and headed back toward the castle, spinning around again a moment later. Putting her hands on her hips, she marched her way back to Iris—who’d not moved at all—took her daughter’s arm, and with what looked to be a bit of wrestling, hauled Iris inside with her. “Perhaps we’ll mosey around the grounds for more than an hour or two,” Bram said as he steered Lucetta toward the trees.

Economic growth requires investment in things—more machines, more basic facilities like highways or broadband—and in people, who need more and better education. Knowledge needs to be acquired and extended. Some of that extension is the product of new basic science, and some of it comes from the engineering that turns science into goods and services, and from the endless tweaking and improvement of design that, over time, turned a Model-T Ford into a Toyota Camry, or my clunky personal computer of 1983 into the sleek, almost weightless, and infinitely more powerful laptop on which I am writing this book. Investment in research and development enhances the flow of innovation, but new ideas can come from anywhere; the stock of knowledge is international, not national, and new ideas disperse quickly from the places where they are created. Innovation also needs entrepreneurs and risk-taking managers to find profitable ways of turning science and engineering into new products and services. This will be difficult without the right institutions. Innovators need to be free from the risk of expropriation, functioning law courts are needed to settle disputes and protect patents, and tax rates cannot be too high. When all of these conditions come together—as they have in the United States for a century and a half—we get sustained economic growth and higher living standards.

in a difficult market environment, profits will be smaller than normal and losses will be larger; downside gaps will be more common, and you will likely experience greater slippage. The smart way to handle this is to do the following: Tighten up stop-losses. If you normally cut losses at 7 to 8 percent, cut them at 5 to 6 percent. Settle for smaller profits. If you normally take profits of 15 to 20 percent on average, take profits at 10 to 12 percent. If you’re trading with the use of leverage, get off margin immediately. Reduce your exposure with regard to your position sizes as well as your overall capital commitment. Once you see your batting average and reward/risk profile improve, you can start to extend your parameters gradually back to normal levels.

Feelie Box—Cut a hole in a shoebox lid. Place spools, buttons, blocks, coins, marbles, animals, and cars in the box. The child inserts a hand through the hole and tells you what toy she is touching. Or, ask her to reach in and feel for a button or car. Or, show her a toy and ask her to find one in the box that matches. These activities improve the child’s ability to discriminate objects without the use of vision. “Can You Describe It?”—Provide objects with different textures, temperatures, and weights. Ask her to tell you about an object she is touching. (If you can persuade her not to look at it, the game is more challenging.) Is the object round? Cool? Smooth? Soft? Heavy? Oral-Motor Activities—Licking stickers and pasting them down, blowing whistles and kazoos, blowing bubbles, drinking through straws or sports bottles, and chewing gum or rubber tubing may provide oral satisfaction. Hands-on Cooking—Have the child mix cookie dough, bread dough, or meat loaf in a shallow roasting pan (not a high-sided bowl). Science Activities—Touching worms and egg yolks, catching fireflies, collecting acorns and chestnuts, planting seeds, and digging in the garden provide interesting tactile experiences. Handling Pets—What could be more satisfying than stroking a cat, dog or rabbit? People Sandwich—Have the “salami” or “cheese” (your child) lie facedown on the “bread” (gym mat or couch cushion) with her head extended beyond the edge. With a “spreader” (sponge, pot scrubber, basting or vegetable brush, paintbrush, or washcloth) smear her arms, legs, and torso with pretend mustard, mayonnaise, relish, ketchup, etc. Use firm, downward strokes. Cover the child, from neck to toe, with another piece of “bread” (folded mat or second cushion). Now press firmly on the mat to squish out the excess mustard, so the child feels the deep, soothing pressure. You can even roll or crawl across your child; the mat will distribute your weight. Your child will be in heaven.

The Global Financial Crisis of 2007–08 represented the greatest financial downswing of my lifetime, and consequently it presents the best opportunity to observe, reflect and learn. The scene was set for its occurrence by a number of developments. Here’s a partial list: Government policies supported an expansion of home ownership—which by definition meant the inclusion of people who historically couldn’t afford to buy homes—at a time when home prices were soaring; The Fed pushed interest rates down, causing the demand for higher-yielding instruments such as structured/levered mortgage securities to increase; There was a rising trend among banks to make mortgage loans, package them and sell them onward (as opposed to retaining them); Decisions to lend, structure, assign credit ratings and invest were made on the basis of unquestioning extrapolation of low historic mortgage default rates; The above four points resulted in an increased eagerness to extend mortgage loans, with an accompanying decline in lending standards; Novel and untested mortgage backed securities were developed that promised high returns with low risk, something that has great appeal in non-skeptical times; Protective laws and regulations were relaxed, such as the Glass-Steagall Act (which prohibited the creation of financial conglomerates), the uptick rule (which prevented traders who had bet against stocks from forcing them down through non-stop short selling), and the rules that limited banks’ leverage, permitting it to nearly triple; Finally, the media ran articles stating that risk had been eliminated by the combination of: the adroit Fed, which could be counted on to inject stimulus whenever economic sluggishness developed, confidence that the excess liquidity flowing to China for its exports and to oil producers would never fail to be recycled back into our markets, buoying asset prices, and the new Wall Street innovations, which “sliced and diced” risk so finely, spread it so widely and placed it with those best suited to bear it.

In the following chart we see a trend line drawn connecting the support levels where the stock has found support on 3 separate occasions. See Figure 9-1 below. It only takes two points, or lows, to draw a trend line. Meaning, the trend line drawn in the above chart could have effectively been drawn after the stock had found support at point 1 and at point 2. However, while it only takes two points to draw a trend line, a third point is necessary to identify the line as a valid trend line. How does this help us? By drawing a trend line connecting points 1 and 2, we can then extend the trend line to the ‘infinite.’ Understand?