rants

36 posts under this tag.

Star
a theory of finance 2
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8
Oct
23

Who of all the Wise could have foreseen it?
Or, if they are wise, why should they expect to know it, until the hour has struck?
J.R.R. Tolkien, The Fellowship of the Ring
Apropos of the many pundits awoken by the finance crisis:

Foretelling MUST be part of any worthwhile understanding.
(We can all come up on demand with plausible histories after the fact
and “description—often bad description—hiding behind obfuscatory rubbish.”)


Speculation’s to finance, what experimentation’s to science: THE TEST.
No one salubriously rich can claim to understand finance.
Whoever REALLY understands it is welcome to big bucks any day.

Heard that Douglas Adams’s creation story?
There is a theory which states that if ever anyone discovers exactly what the Universe is for and why it is here, it will instantly disappear and be replaced by something even more bizarrely inexeplicable. There is another theory which states that this has already happened.
Same thing may happen with finance:
Any understandable glimmer of it is too good an opportunity not to be instantly complicated away in the efforts to milk it.

This all but an instance of a bigger theory that claims:
your inability to foretell things foretelling abler (smarter) than you.
The future, society, others, and even you, among such things.

Star
No-need-to-spam-your-friends ad 2
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8
Oct
03

In record turnouts, 40% of eligible voters don’t vote. In other words, 60% of Americans don’t vote (because they can’t or won’t). Was thinking of something cool and snarky to answer that excellent celebrity video that’s making the ‘Tube rounds, but really, what need is there?

A lot of people, most on at least one count, aren’t wasting their time already. Some of the best propaganda in the world (the envy of any dictator), none for the cases against voting (1, 2, 3... just imagine if a true don’t vote ad went national—child porn would cause less mayhem), and yet so many still do what makes sense. Can’t really do anything for the rest. What I’ll do is humor the naive we all carry inside, do the simplest thing that could have some impact, this post, and move over to more productive stuff.

And please, please, were you a democra-zealot (good-natured pun, crazy, get it? :), take this not as a challenge to double your efforts, I’m truly saddened by all the misspent electoral effort as it is. Instead, why not make something you want happen that doesn’t need to (attempt to) change everyone else? As I’ll try doing now, over and out.

9/11 2
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8
Sep
28

Published the day after the towers fell, this the finest thing I’ve read on 9/11: Harry Browne’s When will we learn?

    And now, as sure as night follows day, we will be told we must give up more of our freedoms to avenge what never should have happened in the first place.

    When will we learn that it makes no sense to give up our freedoms in the name of freedom?
What should be done?

First of all, stop the hysteria. Stand back and ask how this could have happened. Ask how a prosperous country isolated by two oceans could have so embroiled itself in other people’s business that someone would want to do us harm. Even sitting in the middle of Europe, Switzerland isn’t beset by terrorist attacks, because the Swiss mind their own business.
When will we learn that without freedom and sanity, there is no reason to be patriotic?

Fuck off 2
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8
Sep
14

There are two ways we can produce automobiles. We can build them in Detroit or we can grow them in Iowa. Everyone knows how we build automobiles. To grow automobiles, we first grow the raw material from which they are made—wheat. We put the wheat on ships and send the ships out into the Pacific. They come back with Hondas on them.
     From our standpoint, growing Hondas is just as much a form of production—using American farmworkers instead of American autoworkers—as building them. What happens on the other side of the Pacific is irrelevant; the effect would be just hte same for us if there really where a gigantic machine sitting somewhere between Hawaii and Japan turning wheat into automobiles. Tariffs are indeed a way of protecting American workers —from other American workers.

David D. Friedman, Hidden Order
I wonder, particularly now that my lil sis studies economics, how funny it is that economists are far and away mostly of use to govt’s. While theirs is a fine and beautiful knowledge, the only people that actually pay economists to work —besides universities, who employ them to train more economists, a nice pyramid scheme— are either bureaucrats or lobbyists warding or manipulating bureaucrats. At first that made me wary, but lately I’ve come to realize that what good economists (as opposed to bribed sycophants or bad economists) actually have to say to the gov’t is fuck off—stay away, you do more harm than good. Dismantling or even just holding off the gov’t beast is a worthy mission, quite possibly one of the most important.

The Plan: Have Laptop, Will Travel 2
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8
Sep
11

The plan is to travel, to go places for a year or so, to live for some 2-3 months each time, in Tokyo, Barcelona/Madrid, London, and Toronto (in that order). Both Spain and Canada beckon with legal, short paths to free agency. The goal shall be to find out which city I like better as my fulcrum for the decade, but mostly to learn, to start projects, and to swallow the world.

I didn’t expect to like working remotely so much, as I’ve been doing this last couple of weeks, but I’ve loved the freedom, the flexibility, and the discipline it imposes. Most important of all, it allows for freedom of place and having been kicked out of the U.S. I might as well look around. So I’m looking for some sort of remote job, failing that savings and odd jobs would have to do, but having an unhinged fixed job would accelerate and catalyze everything.

There is, still, the possibility that there will be no place for me like Silicon Valley. If that’s so, then I’ll try to get a tourist visa again within a year and give de facto (ilegal) free agency another shot. I doubt, though, that they’ll grant me a visa, but there are many other, safe, if somewhat expensive means, to get inside. And once inside de facto free agency is not far fetched at all. I’m heartened by the sanctuary San Francisco itself always was for me (as opposed to the dastard federal gov’t).

But that’s just one possibility. Just having done that scenario planning comforts me and sets me free. The world beckons and Japan has always been, after America, the country I’m hungriest for. I’ve always wanted to try the sink or swim approach to learning a language! It’ll take me a month or two to get there, but just you wait Tokyo!

Aftermath 2
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8
Sep
10



Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore,
Send these the homeless, tempest-tossed to me;
I lift my lamp beside the golden door.
(-Verse engraved on the base of the statue of liberty.)

America the closed preserve
That dirty foreigners don’t deserve
David Friedman, The Machinery of Freedom

But why wasn’t I legally in the States? Because there are no certain legal paths to what I want: free agency. That is, to be able to live and make wealth, however and how long I want (the legal equivalent would be a permanent residence, a citizenship is that plus voting).

Sure, there are work visas, but I’m not particularly interested in being an employee. I want to make wealth myself or with others, in projects we start. And yes, a work visa can (notice the lack of certainty!), given years, be upgraded to a residence permit—I know a couple of tech guys who have done this after some 7 or more years. It takes that long because professional green cards have a shameful 5 year backlog and because why would employers give you the freedom to work for others or for yourself when they can just have you on a renewable per-year indentured servitude?

The problem’s not getting into the States to vacation work where the powers that be want you to work, the problem is being a free agent. And yes, were America the only option, paying the many-year uncertain penance wouldn’t look so bad. But the world’s a big place.

Que puta..? 2
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7
Dec
06

Que puta entre sus podres chorrearia

por entre incordios, chancros y bubones

a este hijo de tan multiples cabrones

que no supo que nombre se pondria?


Salvador Novo en Un Marof,
poema que forma parte de Sátira,
su colección de diatribas

podre = pus

incordio = tumor

chancro = ulcera sifilitica

bubon = ulcera sifilitica, particularmente en las ingles

Carnegie's Gospel of Wealth 2
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7
Oct
07

The growing disposition to tax more and more heavily large estates left at death is a cheering indication of the growth of a salutary change in public opinion. The State of Pennsylvania now takes—subject to some exceptions—one-tenth of the property left by its citizens. The budget presented in the British Parliament the other day proposes to increase the death-duties; and, most significant of all, the new tax is to be a graduated one. Of all forms of taxation, this seems the wisest. Men who continue hoarding great sums all their lives, the proper use of which for – public ends would work good to the community, should be made to feel that the community, in the form of the state, cannot thus be deprived of its proper share. By taxing estates heavily at death the state marks its condemnation of the selfish millionaire’s unworthy life.

Ugh. I actually hope to use any wealth I happen to make to help the causes I believe in and we even coincide in some of those causes, but I recoil from the reasoning that led Andrew CarnegieWP to philanthropy. A reasoning he most famously presented in his Gospel of Wealth, quoted above.

In what could charitably be attributed to a deep generational chasm (he did wrote more than 100 years ago), he’s insufferably unctuous, enlisting at every opportunity the “wise men,” “the thoughtful man,” “most of those who think,” “the best and most enlightened public sentiment,” and a further, seemingly endless cohort to his aid, substituting them for argument.

He frequently employs a fatalism I’ve always found devious, the fatalism that makes some limp effort to justify the status quo only to conclude with the friendly provision that it is all inevitable anyway.

But most depressingly, he makes scant sense and obscures rather than illuminate. Speaking in pompous, hyperbolic generalities, he never goes around to explaining just why wealth accumulation is increasing—he only talks vaguely about assembling “thousands of operatives in the factory, in the mine, and in the counting-house,” as if wealth creation were a matter of mere herding. He uses dubious anecdotal evidence —a “most worthy” man’s impromptu giving of a quarter is interpreted as “probably one of the most selfish and very worst actions of his life”— and rather idiotic “insights” into the mind of men —at one point he actually claims the rich would take in stride being confiscated, happy to brag about how much they’d been deprived of.

He seems to believe that rich men acquire their wealth by doing something extraordinarily good, necessary, and rare. Yet, he entitles them to no right to what they’ve earned. They should “provide moderately for the legitimate wants of those dependent upon him” and consider the leftovers society’s trust fund, theirs only lent to administer for the good of all.

It’s not all bad, I actually sympathize, from a distance, with his Randian views on charity and property, and I also agree with his Hayekian wish for evolutionary rather than revolutionary changes. Still, the essay is unusually abysmal. If this is the best tract we have arguing for private philanthropy no wonder there’s so little.

Spacing! 2
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7
May
14

Remember that wacky koanELZR about reading processors (“what is to reading what a word-processor is to writing?”) and how it led to the idea of a text spacer (illustrated at length in this example)?

Well, I just found out about Live Ink by Walker Reading Technologies (via KurzweilAI.net’s newsletter, though it was slashdotted earlier) and realized people have been toying with the idea for over a decade now. Live Ink is clumsy marketese for what they also elegantly and precisely describe as visual-syntactic text formatting and these guys have not only coded it and are now marketing it, but they have already done some interesting homework, carrying on a year-long experiment where it allegedly improved reading proficiency. They offer a 30-day trial program implementing the technology called ClipRead (screencast) and though the interface is positively abysmal (why, god, why, must bad interfaces happen to good people?), it’s still very much worth downloading to play with.

Here below is a (fitting) paragraph from Charlie Stross’s Accelerando for comparison.

Amber scans the README quickly. Corporate instruments are strong magic, according to Daddy, and this one is exotic by any standards—a limited company established in Yemen, contorted by the intersection between shari’a and the global legislatosaurus. Understanding it isn’t easy, even with a personal net full of subsapient agents that have full access to whole libraries of international trade law – the bottleneck is comprehension. Amber finds the documents highly puzzling. It’s not the fact that half of them are written in Arabic that bothers her—that’s what her grammar engine is for – or even that they’re full of S-expressions and semidigestible chunks of LISP: But the company seems to assert that it exists for the sole purpose of owning chattel slaves.
Charles Stross, Accelerando

I like how they limited the spacing to linebreaks and indents; it’s a good starting constraint—it simplifies the task enormously and the results are still quite good. Highlighting the verb is also a clever touch—the nuance with the biggest syntactic payoff. Overall, while the simple flaws do stand out (because we’re such effortlessly gifted syntactic parsers), what surprises me is how decently it works, how the formatted text feels more accessible than the monolithic paragraph. At several points—interestingly, at some of the most usefully formatted parts—the algorithm at work seems oddly straightforward: nestedly indent and linebreak prepositions. Ahh… I’m itching to write some regex hack… Probably will write one in a couple of days, together with some handcrafted spacing of the above paragraph, just to see what we’re aiming at.

According to VentureBeat, meanwhile, the company is poised to taking the world any minute now. I doubt it. But they have given spacing (visual-syntactic text formatting) a broad hearing and there’s now a flurry of attention on it and, probably, on the broader idea of reading processors. There are bound to be some intriguing reinterpretations and extrapolations in the coming months.

Blackstone 2
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7
Apr
22

.., one of the world’s largest and most influential private-equityWP firms, is planning an IPO of a minority stake, “perhaps 10%.” Appraisals of the company’s total value range “from $20 billion to double that.”

It has some 750 employees.

Talk about leverage.

Maybe the insolent goal is possible after all.

This post based on data from the Economist’s Bigger than Rod article. The magazine has given many, many pages to the topic of private equity—to the point that it has become a fixture in each edition. Good starting points are the 2007 special report, The uneasy crown, the 2004 survey, The new kings of capitalism, and the 2003 special report, The charms of the discreet deal. It’s a fascinating subject.