Lens Stock Quotes

Only two or three months ago, one of the Tokyo newspapers (I can’t remember which) admirably reported that a two hundred inch astronomical telescope in America was halfway toward completion. I should like to praise the editor of that newspaper. Articles about war, foreign affairs, and the stock market are not the only things that should be considered newsworthy. A two hundred inch lens can magnify our view of the cosmos considerably. The scope of human vision will expand tremendously. It will become possible to see what was once impossible to behold. It will be a momentous occasion, as though the whole human race, once blind, is granted the gift of sight. Its importance is unrivalled by any war.

Seen through the lens of human perception, cycles are often viewed as less symmetrical than they are. Negative price fluctuations are called “volatility,” while positive price fluctuations are called “profit.” Collapsing markets are called “selling panics,” while surges receive more benign descriptions (but I think they may best be seen as “buying panics”; see tech stocks in 1999, for example). Commentators talk about “investor capitulation” at the bottom of market cycles, while I also see capitulation at the top, when previously prudent investors throw in the towel and buy.

The challenge for us is that no amount of studying or open-mindedness can genuinely recreate the power of fear and uncertainty. I can read about what it was like to lose everything during the Great Depression. But I don’t have the emotional scars of those who actually experienced it. And the person who lived through it can’t fathom why someone like me could come across as complacent about things like owning stocks. We see the world through a different lens.

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.

giving you the ultimate Moscow fashion tour,” she said directly into the lens. “We’re in front of Cartier, but not because I’m going to show you any jewelry or accessories. I want to tell you about a nineteenth-century celebutante named Anna Annenkova, whose house stood on this very spot. Anna was part of Russian nobility and was so worried that she might be unprepared for any sudden high-society happenings that instead of pajamas, she went to bed every night fully dressed in a ballgown with silk stockings and shoes. Talk about your fear of missing out.

Our problem is that we’re ticker watchers of our own lives. Happiness (however we individually define it) is not best measured by looking at the ticker, zooming in and magnifying moment-by-moment or day-by-day movements. We would be better off thinking about our happiness as a long-term stock holding. We would do well to view our happiness through a wide-angle lens, striving for a long, sustaining upward trend in our happiness stock, so it resembles the first Berkshire Hathaway chart.

For someone who is fifty pounds overweight, losing three to five pounds over half a year is a frustrating drop in the bucket. Accordingly, a stock response to these studies has been to declare exercise futile for trimming your waist. Before we entirely dismiss the weight control benefits of walking, the most fundamental type of endurance physical activity, let’s examine the major arguments behind this contention through the lens of evolutionary anthropology. The first is the specter of compensatory mechanisms, notably fatigue and hunger. If I walk ten thousand extra steps, I’ll be more tired and hungry, so I’ll rest and eat more to recoup lost calories. From an evolutionary perspective, these urges make sense. Because natural selection ultimately favors those who can allocate as much energy as possible to reproduction, our physiology has been tuned over millions of generations to hoard energy, especially fat. Further, because almost no one until recently was able to become overweight or obese, our bodies primarily sense if we are gaining or losing weight rather than how much excess fat we have. Whether you are skinny or stout, negative energy balance—including dieting—causes a starvation response that helps us restore energetic equilibrium or, better yet, gain weight so we can shunt more energy toward reproduction.35 It’s unfair, but losing ten pounds elicits food cravings and the desire to be inactive regardless of whether one is skinny or obese.

The challenge for us is that no amount of studying or open-mindedness can genuinely recreate the power of fear and uncertainty. I can read about what it was like to lose everything during the Great Depression. But I don’t have the emotional scars of those who actually experienced it. And the person who lived through it can’t fathom why someone like me could come across as complacent about things like owning stocks. We see the world through a different lens.