http://groups.google.com/group/rec.arts.books?hl=en
rec.arts.books@googlegroups.com
Today's topics:
* Mandelbrot on efficient markets - 7 messages, 6 authors
http://groups.google.com/group/rec.arts.books/t/496fa77e4c853268?hl=en
* The Bird is the Word -- Olberman on Cheney - 3 messages, 3 authors
http://groups.google.com/group/rec.arts.books/t/e0e0d891ea882d32?hl=en
* Superiority Complex - Authors' Tone - 1 messages, 1 author
http://groups.google.com/group/rec.arts.books/t/2fcef07e1cab3641?hl=en
* Cheaper Kindle - 3 messages, 2 authors
http://groups.google.com/group/rec.arts.books/t/83369cb7977feb61?hl=en
* Texas Death Penalty was Bookstores Around etc - 2 messages, 2 authors
http://groups.google.com/group/rec.arts.books/t/92153a6882249799?hl=en
* The book that contains all books - 1 messages, 1 author
http://groups.google.com/group/rec.arts.books/t/1950ed5393c908a7?hl=en
==============================================================================
TOPIC: Mandelbrot on efficient markets
http://groups.google.com/group/rec.arts.books/t/496fa77e4c853268?hl=en
==============================================================================
== 1 of 7 ==
Date: Thurs, Oct 22 2009 10:34 pm
From: spudnik
two things: a)
just attended a promulgation of "free markets"
re _Turning Oil into Salt_ -- look it up,
in which (I think) the head of the institute,
where it was given, suggested a "floor price"
for "alternative energy," which was immediately
confuzed with one for oil ... so, I asked,
with a resounding non-response, if that latter was not
the same as applying a tariff to imported oil; b)
just read that mister Merriwether,
who started the ill-fated LTCM hedgie,
based upon the Nobel Prize-winning (sic) formula
of Scholes et al, is starting a new one, his third
(it (FT) also said that the average hedgie was
only about two to three times leveraged,
which I guess was "bollocks," what ever that is.
now, as for E=ccm, it is just an extension
of Leibniz'z well-known formula from *vis-viva*
(sp.?), and not so earth-shattering ...
no matter what Leo "doc strangelove" szilard did with it!
(things, only the Larouchiacs know .-)
> > True, which is why *WE* from IIT Kharagpur say that e=mcc is the most
> > absolute bollocks, and all peoples in all nations that *believe*
--Cap'n'trade is an arbitrageur's delight;
an actual tax on imported oil is a tariff e.g..
http://wlym.com/~animations/fermat/index.html
".... beyond that level (today, it is over 300 ppm),
the effectiveness of carbon dioxide as a greenhouse gas decreases
exponentially (Figure 1). This exponential
decline in the effectiveness of carbon dioxide as a
greenhouse gas is not contested by the believers in
global warming; they simply ignore it.
There is an experiment anyone can do to understand
this principle: Take a sheet of paper, and place it
over a window with sunlight coming through. You ...."
http://larouchepub.com/lar/Articles_2009/Articles_2009/Cap_and_Trade.pdf
http://larouchepub.com/lar/Articles_2009/Where_Punt_sp09.pdf
www.wlym.com
== 2 of 7 ==
Date: Fri, Oct 23 2009 6:09 am
From: Marko Amnell
On Oct 23, 5:07 am, Les Cargill <lcargil...@comcast.net> wrote:
> Marko Amnell wrote:
> > On Oct 7, 9:48 pm, Marko Amnell <marko.amn...@kolumbus.fi> wrote:
>
> >> ... I should say that I have not read Mandelbrot's
> >> book on the financial markets, _The (Mis)behavior
> >> of Markets_ ...
>
> > I'm reading this book now. If you want to read this,
> > get the new 2008 edition (yellow cover) with the
> > new preface written in October 2008 on the
> > financial crisis. You can buy a used paperback
> > copy online very cheap. I got one from
> > abebooks.com for $4.50.
>
> Marko, how *exactly* does this negate the Efficient Markets
> Hypothesis? All the EMH says is "you can't out crazy
> the market." - that the market and you have roughly
> the same information.
Mandelbrot takes the Efficient Markets Hypothesis
to include the claims that:
1) Financial markets are efficient. In an efficient
market, all the relevant data are already priced
into the price of a security right now.
2) Price changes are statistically independent.
3) Price changes are normally distributed.
Mandelbrot argues that price changes are dependent
and that price changes are not normally distributed.
Prices have memories. If the Efficient Markets
Hypothesis is correct, then the market equilibrium
is up-to-date and correct and very quickly adjusts
to incorporate new information, so it is impossible
to beat the market long-term. But if, as Mandelbrot
argues, price series exhibit various degrees of memory
(so that there is long-term dependence) then it is
possible to gain an advantage from actively selecting
securities over the long term.
Let me quote from Mandelbrot and Hudson's book
_The Misbehavior of Markets_ (p. 12):
"My heresy is a different, fractal kind of statistical
relationship, a 'long memory'. This is a delicate
point to which a full chapter will be devoted later.
For the moment, think about it by observing that
different kinds of price series exhibit different
degrees of memory. Some exhibit strong memory.
Others have weak memory. Why this should be is
not certain; but one can speculate. What a company
does today -- a merger, a spin-off, a critical product
launch -- shapes what the company will look like
a decade hence; in the same way, its stock-price
movements today will influence movements tomorrow.
Others suggest that the market may take a long time
to absorb and fully price information. When
confronted by bad news, some quick-triggered
investors react immediately while others, with
different financial goals and longer time-horizons,
may not react for another month or year. Whatever
the explanation, we can confirm the phenomenon
exists -- and it contradicts the random-walk model."
Mandelbrot and Hudson devote chapter 9 to the
subject of long-term memory. The chapter is entitled
"Long Memory, from the Nile to the Marketplace."
The title alludes to Harold Edwin Hurst, who
first developed the necessary statistical methods
while studying the flooding of the Nile River in
Egypt in the early 20th century.
There is a short description of the approach of
Hurst and Mandelbrot in the book _Information
Efficiency in Financial and Betting Markets_ (2005),
ed. Leighton Vaughan Williams (p. 18):
"The idea of rescaled range analysis was first
proposed by Hurst (1951), as a result of his
observations of natural phenomena. The statistics,
since refined by Mandelbrot (1972, 1975),
Mandelbrot and Taqqu (1979) and Lo (1991),
can be used to test for long-term dependence.
Essentially it is a method of measuring how the
path of a time series varies over various timescales.
Specifically, the rescaled-range statistic is the
range (i.e. high minus low) of partial cumulative
sums of deviations of a time series from its mean,
rescaled by its standard deviation. A convenient
way of viewing its application is through an
examination of the so-called Hurst exponent.
Named after H.E. Hurst, who first developed its
use in studies of the Nile river dam project, it
is a measure of correlative persistence.
"The correlation can be derived from the
following equation:
C = 2^(2H-1) - 1
where C is the measure of correlation and H
is the Hurst exponent.
"Thus, if the Hurst exponent equals 0.5, C = 0
and the probability that a move in one direction
will be followed by a move in the same direction
(e.g. positive followed by positive) is 50 per cent.
If the Hurst exponent is less than 0.5 the system
can be characterised as mean-reverting
(sometimes termed anti-persistent or ergodic), if
greater than 0.5 it is correlative or persistent
(also sometimes termed trend-reinforcing).
The period of time over which H is greater than 0.5
is a measure of the _memory cycle_ of the system,
and so measures the time period over which
information can be used predictively. This approach
is particularly useful in the context of non-normal
distributions. The reason is that the variance of
such distributions may not exist (i.e. the expected
value of the variance may be infinite). The essential
intuition behind this is that the tails of the distribution
decay too slowly."
The text goes on to describe research which showed
that from January 1950 to July 1988 "S&P 500
prices were found to increase with the 0.78 root
of time, in contrast to the square root configuration
which would be consistent with a random walk."
== 3 of 7 ==
Date: Fri, Oct 23 2009 8:07 am
From: Pubkeybreaker
On Oct 1, 1:45 pm, Marko Amnell <marko.amn...@kolumbus.fi> wrote:
> See video at FT.com:
>
> http://tinyurl.com/yawv9ol
>
> "In a fascinating in-depth interview with
> John Authers, investment editor, 85-year old
> mathematician Benoit Mandelbrot discusses
> his now 40-year old groundbreaking critique
> of the "efficient markets" hypothesis
The "efficient market" hypothesis is horseshit.
The real markets (as opposed to the fantasy markets
of economists, mathematicians and financial 'analysts')
work on INSIDE INFORMATION.
Anyone who believes otherwise is living in fantasy land.
== 4 of 7 ==
Date: Fri, Oct 23 2009 11:44 am
From: Patok
Marko Amnell wrote:
> On Oct 23, 5:07 am, Les Cargill <lcargil...@comcast.net> wrote:
>> Marko, how *exactly* does this negate the Efficient Markets
>> Hypothesis? All the EMH says is "you can't out crazy
>> the market." - that the market and you have roughly
>> the same information.
>
> Mandelbrot takes the Efficient Markets Hypothesis
> to include the claims that:
>
> 1) Financial markets are efficient. In an efficient
> market, all the relevant data are already priced
> into the price of a security right now.
>
> 2) Price changes are statistically independent.
>
> 3) Price changes are normally distributed.
Thanks for this very interesting information, Marko. The way the
financial world works continues to amaze me with a constant display of
savant idiotism. Apparently, they use advanced statistical and
mathematical models to implement policies that defy common sense and are
based on wrong assumptions. Even I, having nothing to do with markets
and finance, could have told you that the Efficient Markets Hypothesis
is completely wrong, exactly for the reasons Mandelbrot gives. It is so
blindingly obvious; how could they believe in it? Could it be a case of
professional desensitization, where working in a familiar environment
makes them miss the obvious defects that someone from the outside would
instantly notice? Like sometimes happens when shadetree builders build a
house without a plan, and forget to include stairs from the ground floor
to the one above, because during building they use the scaffolding and
never notice the omission.
Another thing that I find myself wondering about financiers is why
don't they use the Marxist theory of added value, together with laws
from electrodynamics to do their calculations? Markets quite clearly
behave much more like an electrical system than like anything else;
value (money) and goods are generated and consumed and move around much
like electricity. Another analogy, that I think the financiers don't
understand (but maybe I'm wrong, and they do), is that you can't
generate more wealth out of thin air than the generators in the system
(producers of goods and services) can generate. Thinking that you can,
leads to things like last year's lending crisis (if I correctly
understood what and why happened in it). Of course the analogy with
electrodynamics can't be full, because of human participation in price
formation, that makes the Efficient Markets Hypothesis wrong in the
first place, and will need to be accounted for in some manner.
Interesting stuff.
>
> Mandelbrot argues that price changes are dependent
> and that price changes are not normally distributed.
> Prices have memories. If the Efficient Markets
> Hypothesis is correct, then the market equilibrium
> is up-to-date and correct and very quickly adjusts
> to incorporate new information, so it is impossible
> to beat the market long-term. But if, as Mandelbrot
> argues, price series exhibit various degrees of memory
> (so that there is long-term dependence) then it is
> possible to gain an advantage from actively selecting
> securities over the long term.
>
> Let me quote from Mandelbrot and Hudson's book
> _The Misbehavior of Markets_ (p. 12):
>
> "My heresy is a different, fractal kind of statistical
> relationship, a 'long memory'. This is a delicate
> point to which a full chapter will be devoted later.
> For the moment, think about it by observing that
> different kinds of price series exhibit different
> degrees of memory. Some exhibit strong memory.
> Others have weak memory. Why this should be is
> not certain; but one can speculate. What a company
> does today -- a merger, a spin-off, a critical product
> launch -- shapes what the company will look like
> a decade hence; in the same way, its stock-price
> movements today will influence movements tomorrow.
> Others suggest that the market may take a long time
> to absorb and fully price information. When
> confronted by bad news, some quick-triggered
> investors react immediately while others, with
> different financial goals and longer time-horizons,
> may not react for another month or year. Whatever
> the explanation, we can confirm the phenomenon
> exists -- and it contradicts the random-walk model."
>
> Mandelbrot and Hudson devote chapter 9 to the
> subject of long-term memory. The chapter is entitled
> "Long Memory, from the Nile to the Marketplace."
> The title alludes to Harold Edwin Hurst, who
> first developed the necessary statistical methods
> while studying the flooding of the Nile River in
> Egypt in the early 20th century.
>
> There is a short description of the approach of
> Hurst and Mandelbrot in the book _Information
> Efficiency in Financial and Betting Markets_ (2005),
> ed. Leighton Vaughan Williams (p. 18):
>
> "The idea of rescaled range analysis was first
> proposed by Hurst (1951), as a result of his
> observations of natural phenomena. The statistics,
> since refined by Mandelbrot (1972, 1975),
> Mandelbrot and Taqqu (1979) and Lo (1991),
> can be used to test for long-term dependence.
> Essentially it is a method of measuring how the
> path of a time series varies over various timescales.
> Specifically, the rescaled-range statistic is the
> range (i.e. high minus low) of partial cumulative
> sums of deviations of a time series from its mean,
> rescaled by its standard deviation. A convenient
> way of viewing its application is through an
> examination of the so-called Hurst exponent.
> Named after H.E. Hurst, who first developed its
> use in studies of the Nile river dam project, it
> is a measure of correlative persistence.
> "The correlation can be derived from the
> following equation:
>
> C = 2^(2H-1) - 1
>
> where C is the measure of correlation and H
> is the Hurst exponent.
> "Thus, if the Hurst exponent equals 0.5, C = 0
> and the probability that a move in one direction
> will be followed by a move in the same direction
> (e.g. positive followed by positive) is 50 per cent.
> If the Hurst exponent is less than 0.5 the system
> can be characterised as mean-reverting
> (sometimes termed anti-persistent or ergodic), if
> greater than 0.5 it is correlative or persistent
> (also sometimes termed trend-reinforcing).
> The period of time over which H is greater than 0.5
> is a measure of the _memory cycle_ of the system,
> and so measures the time period over which
> information can be used predictively. This approach
> is particularly useful in the context of non-normal
> distributions. The reason is that the variance of
> such distributions may not exist (i.e. the expected
> value of the variance may be infinite). The essential
> intuition behind this is that the tails of the distribution
> decay too slowly."
>
> http://tinyurl.com/yhxzqrv
>
> The text goes on to describe research which showed
> that from January 1950 to July 1988 "S&P 500
> prices were found to increase with the 0.78 root
> of time, in contrast to the square root configuration
> which would be consistent with a random walk."
>
--
You'd be crazy to e-mail me with the crazy. But leave the div alone.
== 5 of 7 ==
Date: Fri, Oct 23 2009 1:09 pm
From: Marko Amnell
The wikipedia page for "Efficient-market hypothesis" seems worth
quoting:
The hypothesis has been attacked lately by critics who blame belief in
rational markets for much of the current financial crisis,[1][2] with
noted financial journalist Roger Lowenstein recently declaring "The
upside of the current Great Recession is that it could drive a stake
through the heart of the academic nostrum known as the efficient-
market hypothesis."[3] [...]
The recent global financial crisis has led to renewed scrutiny and
criticism of the hypothesis.[30] Market strategist Jeremy Grantham has
stated flatly that EMH is responsible for the current financial
crisis, claiming that belief in the hypothesis caused financial
leaders to have a "chronic underestimation of the dangers of asset
bubbles breaking".[2]
At the International Organization of Securities Commissions annual
conference, held in June 2009, the hypothesis took center stage.
Martin Wolf, the chief economics commentator for the Financial Times,
dismissed the hypothesis as being a useful way to examine how markets
function in reality. Paul McCulley, managing director of PIMCO, was
less extreme in his criticism, saying that the hypothesis had not
failed, but was "seriously flawed" in its neglect of human nature.[31]
http://en.wikipedia.org/wiki/Efficient-market_hypothesis
== 6 of 7 ==
Date: Fri, Oct 23 2009 5:15 pm
From: Les Cargill
Marko Amnell wrote:
> The wikipedia page for "Efficient-market hypothesis" seems worth
> quoting:
>
> The hypothesis has been attacked lately by critics who blame belief in
> rational markets for much of the current financial crisis,[1][2] with
> noted financial journalist Roger Lowenstein recently declaring "The
> upside of the current Great Recession is that it could drive a stake
> through the heart of the academic nostrum known as the efficient-
> market hypothesis."[3] [...]
>
> The recent global financial crisis has led to renewed scrutiny and
> criticism of the hypothesis.[30] Market strategist Jeremy Grantham has
> stated flatly that EMH is responsible for the current financial
> crisis, claiming that belief in the hypothesis caused financial
> leaders to have a "chronic underestimation of the dangers of asset
> bubbles breaking".[2]
>
> At the International Organization of Securities Commissions annual
> conference, held in June 2009, the hypothesis took center stage.
> Martin Wolf, the chief economics commentator for the Financial Times,
> dismissed the hypothesis as being a useful way to examine how markets
> function in reality. Paul McCulley, managing director of PIMCO, was
> less extreme in his criticism, saying that the hypothesis had not
> failed, but was "seriously flawed" in its neglect of human nature.[31]
>
> http://en.wikipedia.org/wiki/Efficient-market_hypothesis
>
Thank you for your efforts. Makes perfect sense. Yes, I'd read
Grantham and Martin Wolf, but didn't understand the derivation of
this. Now I do.
--
Les Cargill
== 7 of 7 ==
Date: Fri, Oct 23 2009 10:03 pm
From: Arindam Banerjee
On Oct 24, 2:07 am, Pubkeybreaker <pubkeybrea...@aol.com> wrote:
> On Oct 1, 1:45 pm, Marko Amnell <marko.amn...@kolumbus.fi> wrote:
>
> > See video at FT.com:
>
> >http://tinyurl.com/yawv9ol
>
> > "In a fascinating in-depth interview with
> > John Authers, investment editor, 85-year old
> > mathematician Benoit Mandelbrot discusses
> > his now 40-year old groundbreaking critique
> > of the "efficient markets" hypothesis
>
> The "efficient market" hypothesis is horseshit.
> The real markets (as opposed to the fantasy markets
> of economists, mathematicians and financial 'analysts')
> work on INSIDE INFORMATION.
>
> Anyone who believes otherwise is living in fantasy land.
To put it another way, the real markets actually work (by taking money
from the suckers, like in any horse race) is by trying hard to make
the suckers believe that it does *not* work on inside information (and
manipulation), and one way to get credibility is by sacrificing some
Madoffs from time to time.
So there is a tradeoff - markets will rise so long as people are
fooled, but at some time when they are not fooled they stop buying,
and after that depending upon some random or contrived factors they
may panic or they may keep on buying. Greed vs panic here - just as
there is the need vs capacity situation in the telecom networks.
It used to be that markets were a measure to help fund good people
start good business, but now in our Einsteinian world all these high-
minded ideals (if they ever existed) have long gone down the
drainpipes. Will anyone fund a Hydrogen Transmission Network, or the
development of the Internal Force Engine?
Arindam Banerjee
==============================================================================
TOPIC: The Bird is the Word -- Olberman on Cheney
http://groups.google.com/group/rec.arts.books/t/e0e0d891ea882d32?hl=en
==============================================================================
== 1 of 3 ==
Date: Fri, Oct 23 2009 4:53 am
From: "Tom Potter"
"Just Me" <jpdm45@gmail.com> wrote in message
news:5506cb41-ad05-4f20-a172-c71bf01b6d74@j9g2000vbp.googlegroups.com...
> Can't wait to hear Olbermann going ballistic on Cheney, tonight.
>
> Especially the part where even yet we hear the ex-VP compassionately,
> "conservatively" selling his Thousand Points of Light style of
> "enhanced interrogation".
>
> It'll be Fun Fun Fun! Unless it's some other bore in his MsNBC chair
> tonight. Hopefully, nobody will have taken Rachel's T-Bird Away. Never
> anything to stop that girl from showing her bird and holding it high.
>
> Letterman's been off licking his wounds somewhere with his Bird up on
> blocks.
>
> And the crowd said, "Sa-RAH! Sa-RAH! Sa-RAH!"
>
> Kar-MAH Kar-MAH Kar-MAH??
>
> So the World Turns,
> In the Days of Our Lives.
> --
> JM http://doo-dads.blogspot.com
That song, "The bird is the word"
makes me think about how the GTR Cult and
the Mass Media hype General Relativity.
GTR is the word!
Words by Tom Potter,
music by the Trashmen.
Well everybody's heard about GTR !
GTR GTR GTR, GTR is the word !
[repeat]
Everybody's heard about GTR !
GTR GTR GTR, GTR is the word !
[repeat]
Don't you know about GTR?
Well everybody's heard about GTR !
GTR GTR GTR, GTR is the word !
GTR GTR GTR, GTR is the word ! Yeah !
Well everybody's heard, about GTR !
Na-na-na-na-na-na-na-na-na
Na-na-na-na-na-na-na-na-na
Everybody's heard, about GTR !
Na-na-na-na-na-na-na-na-na
Na-na-na-na-na-na-na-na-na
Everybody's heard, about GTR !
Everybody's heard, about GTR !
Don't you know about GTR?
Well everybody's heard, about GTR !
GTR GTR GTR, GTR is the word !
GTR GTR GTR, GTR is the word ! Yeah!
SURFIN' GTR!!!!
Well everybody's heard, about GTR !
GTR GTR GTR, GTR is the word !
GTR GTR GTR, GTR is the word !
Well everybody's heard, about GTR !
Yeah everybody's heard, about GTR !
Everybody's heard, about GTR !
Na-na-na-na-na-na-na-na-na
Na-na-na-na-na-na-na-na-na
Na-na-na-na-na-na-na-na-na
Don't you know about GTR?
Well everybody's heard, about GTR !
GTR GTR GTR, GTR is the word !
GTR GTR GTR, GTR is the word ! Go!!
(Claps)
Everybody's heard, about GTR !
[Repeat 8 times]
Yeah!!!
Everybody's heard about GTR !
Everybody's heard about ... GTR !
===============
End of GTR is the word!
And the cult yells, "Ein stein", Ein stein, Ein stein"
"Rubber rulers, Rubber rulers, Rubber rulers"
"Time travel, Time travel, Time travel, Time travel"
"Worm holes, Worm holes, Worm holes, Worm holes"
A mind is a terrible thing to waste.
--
Tom Potter
http://tdp1001.spaces.live.com
http://www.tompotter.us/misc.html
http://webspace.webring.com/people/st/tdp1001
http://notsocrazyideas.blogspot.com
http://tdp1001.wiki.zoho.com
-----------------------------------------------
== 2 of 3 ==
Date: Fri, Oct 23 2009 7:06 am
From: Lubow
On Oct 23, 7:53 am, "Tom Potter" <tdp1...@yahoo.com> wrote:
> "Just Me" <jpd...@gmail.com> wrote in message
>
> news:5506cb41-ad05-4f20-a172-c71bf01b6d74@j9g2000vbp.googlegroups.com...
>
>
>
> > Can't wait to hear Olbermann going ballistic on Cheney, tonight.
>
> > Especially the part where even yet we hear the ex-VP compassionately,
> > "conservatively" selling his Thousand Points of Light style of
> > "enhanced interrogation".
>
> > It'll be Fun Fun Fun! Unless it's some other bore in his MsNBC chair
> > tonight. Hopefully, nobody will have taken Rachel's T-Bird Away. Never
> > anything to stop that girl from showing her bird and holding it high.
>
> > Letterman's been off licking his wounds somewhere with his Bird up on
> > blocks.
>
> > And the crowd said, "Sa-RAH! Sa-RAH! Sa-RAH!"
>
> > Kar-MAH Kar-MAH Kar-MAH??
>
> > So the World Turns,
> > In the Days of Our Lives.
> > --
> > JMhttp://doo-dads.blogspot.com
>
> That song, "The bird is the word"
> makes me think about how the GTR Cult and
> the Mass Media hype General Relativity.
>
> GTR is the word!
>
> Words by Tom Potter,
> music by the Trashmen.
>
> Well everybody's heard about GTR !
> GTR GTR GTR, GTR is the word !
> [repeat]
>
> Everybody's heard about GTR !
> GTR GTR GTR, GTR is the word !
> [repeat]
>
> Don't you know about GTR?
> Well everybody's heard about GTR !
>
> GTR GTR GTR, GTR is the word !
> GTR GTR GTR, GTR is the word ! Yeah !
>
> Well everybody's heard, about GTR !
> Na-na-na-na-na-na-na-na-na
> Na-na-na-na-na-na-na-na-na
>
> Everybody's heard, about GTR !
> Na-na-na-na-na-na-na-na-na
> Na-na-na-na-na-na-na-na-na
>
> Everybody's heard, about GTR !
> Everybody's heard, about GTR !
>
> Don't you know about GTR?
> Well everybody's heard, about GTR !
>
> GTR GTR GTR, GTR is the word !
> GTR GTR GTR, GTR is the word ! Yeah!
>
> SURFIN' GTR!!!!
>
> Well everybody's heard, about GTR !
> GTR GTR GTR, GTR is the word !
> GTR GTR GTR, GTR is the word !
>
> Well everybody's heard, about GTR !
> Yeah everybody's heard, about GTR !
> Everybody's heard, about GTR !
>
> Na-na-na-na-na-na-na-na-na
> Na-na-na-na-na-na-na-na-na
> Na-na-na-na-na-na-na-na-na
>
> Don't you know about GTR?
> Well everybody's heard, about GTR !
>
> GTR GTR GTR, GTR is the word !
> GTR GTR GTR, GTR is the word ! Go!!
> (Claps)
>
> Everybody's heard, about GTR !
> [Repeat 8 times]
> Yeah!!!
>
> Everybody's heard about GTR !
> Everybody's heard about ... GTR !
>
> ===============
> End of GTR is the word!
>
> And the cult yells, "Ein stein", Ein stein, Ein stein"
> "Rubber rulers, Rubber rulers, Rubber rulers"
> "Time travel, Time travel, Time travel, Time travel"
> "Worm holes, Worm holes, Worm holes, Worm holes"
>
> A mind is a terrible thing to waste.
>
> --
> Tom Potterhttp://tdp1001.spaces.live.comhttp://www.tompotter.us/misc.htmlhttp://webspace.webring.com/people/st/tdp1001http://notsocrazyideas.blogspot.comhttp://tdp1001.wiki.zoho.com
> -----------------------------------------------
Please stop x-posting this crap to misc.invest.stocks. Thank you.
== 3 of 3 ==
Date: Fri, Oct 23 2009 12:19 pm
From: Just Me
On Oct 23, 9:06 am, Lubow <dynamitem...@hotmail.com> wrote:
> On Oct 23, 7:53 am, "Tom Potter" <tdp1...@yahoo.com> wrote:
>
>
>
>
>
> > "Just Me" <jpd...@gmail.com> wrote in message
>
> >news:5506cb41-ad05-4f20-a172-c71bf01b6d74@j9g2000vbp.googlegroups.com...
>
> > > Can't wait to hear Olbermann going ballistic on Cheney, tonight.
>
> > > Especially the part where even yet we hear the ex-VP compassionately,
> > > "conservatively" selling his Thousand Points of Light style of
> > > "enhanced interrogation".
>
> > > It'll be Fun Fun Fun! Unless it's some other bore in his MsNBC chair
> > > tonight. Hopefully, nobody will have taken Rachel's T-Bird Away. Never
> > > anything to stop that girl from showing her bird and holding it high.
>
> > > Letterman's been off licking his wounds somewhere with his Bird up on
> > > blocks.
>
> > > And the crowd said, "Sa-RAH! Sa-RAH! Sa-RAH!"
>
> > > Kar-MAH Kar-MAH Kar-MAH??
>
> > > So the World Turns,
> > > In the Days of Our Lives.
> > > --
> > > JMhttp://doo-dads.blogspot.com
>
> > That song, "The bird is the word"
> > makes me think about how the GTR Cult and
> > the Mass Media hype General Relativity.
>
> > GTR is the word!
>
> > Words by Tom Potter,
> > music by the Trashmen.
>
> > Well everybody's heard about GTR !
> > GTR GTR GTR, GTR is the word !
> > [repeat]
>
> > Everybody's heard about GTR !
> > GTR GTR GTR, GTR is the word !
> > [repeat]
>
> > Don't you know about GTR?
> > Well everybody's heard about GTR !
>
> > GTR GTR GTR, GTR is the word !
> > GTR GTR GTR, GTR is the word ! Yeah !
>
> > Well everybody's heard, about GTR !
> > Na-na-na-na-na-na-na-na-na
> > Na-na-na-na-na-na-na-na-na
>
> > Everybody's heard, about GTR !
> > Na-na-na-na-na-na-na-na-na
> > Na-na-na-na-na-na-na-na-na
>
> > Everybody's heard, about GTR !
> > Everybody's heard, about GTR !
>
> > Don't you know about GTR?
> > Well everybody's heard, about GTR !
>
> > GTR GTR GTR, GTR is the word !
> > GTR GTR GTR, GTR is the word ! Yeah!
>
> > SURFIN' GTR!!!!
>
> > Well everybody's heard, about GTR !
> > GTR GTR GTR, GTR is the word !
> > GTR GTR GTR, GTR is the word !
>
> > Well everybody's heard, about GTR !
> > Yeah everybody's heard, about GTR !
> > Everybody's heard, about GTR !
>
> > Na-na-na-na-na-na-na-na-na
> > Na-na-na-na-na-na-na-na-na
> > Na-na-na-na-na-na-na-na-na
>
> > Don't you know about GTR?
> > Well everybody's heard, about GTR !
>
> > GTR GTR GTR, GTR is the word !
> > GTR GTR GTR, GTR is the word ! Go!!
> > (Claps)
>
> > Everybody's heard, about GTR !
> > [Repeat 8 times]
> > Yeah!!!
>
> > Everybody's heard about GTR !
> > Everybody's heard about ... GTR !
>
> > ===============
> > End of GTR is the word!
>
> > And the cult yells, "Ein stein", Ein stein, Ein stein"
> > "Rubber rulers, Rubber rulers, Rubber rulers"
> > "Time travel, Time travel, Time travel, Time travel"
> > "Worm holes, Worm holes, Worm holes, Worm holes"
>
> > A mind is a terrible thing to waste.
>
> > --
> > Tom Potterhttp://tdp1001.spaces.live.comhttp://www.tompotter.us/misc.htmlhttp:/...
> > -----------------------------------------------
>
> Please stop x-posting this crap to misc.invest.stocks. Thank you.- Hide quoted text -
>
> - Show quoted text -
Looks to me like somebody's got his Fanny Mae all in a bunch--and it's
shrinking. Or is it his Freddy Mac?
I sold mine after news of that KBW downgrading broke on Monday. I got
out with only double my money, though I could have had it triple had I
sold at the +2.00 peak, first of Sept.
I won't cry. Might even get back in there if the price falls back
below buck a share, double the investment I had before when I first
bought in at 56 cents. Just now reports have housing prices on the
down-slide again, so I'll find something else to do with the money in
the meantime.
Invest in a couple cases of Tequila, maybe. Should I go common,
without the worm, or preferred?
The worm, worm
The worm is the word.
Ooo mah-mah-maow!
--
JM http://doo-dads.blogspot.com
==============================================================================
TOPIC: Superiority Complex - Authors' Tone
http://groups.google.com/group/rec.arts.books/t/2fcef07e1cab3641?hl=en
==============================================================================
== 1 of 1 ==
Date: Fri, Oct 23 2009 9:06 am
From: Patriot Games
On Thu, 22 Oct 2009 08:40:26 -0700 (PDT), Transition Zone
<mogulah@hotmail.com> wrote:
>On Oct 21, 3:04 pm, Patriot Games <Patr...@America.Com> wrote:
>> On Wed, 21 Oct 2009 06:23:47 -0700 (PDT), Transition Zone
>> <mogu...@hotmail.com> wrote:
>> >Which conservative-themed book DOES'NT have a "superior" tone by its
>> >Author?
>> >(eventually SOMEBODY'S gotta ask this)
>> Liars are EXPOSED:
>> On Fri, 13 Mar 2009 07:48:58 -0700 (PDT), Transition Zone
>> <mogu...@hotmail.com> wrote:
>> >> >> >And Bam & Bush can both be sued by Afghan property owners in UN
>> >> >> >proceedings. Iraqi property owners probably can, too.
>> >> >> There are no such "UN proceedings." they don't exist.
>> >> >> No, there's no such thing.
>> >> >Says who ??
>> >> Feel free to CITE ANY so-called "UN proceedings" where individual
>> >> citizens
>> >Which one? How do they define "sue"? Even so, "individual" (singular)
>> >or "citizens" (plural)?
>> You said: "And Bam & Bush can both be sued by Afghan property owners
>> in UN proceedings."
>> You were ALLOWED 24 hours to PROVE your CLAIM or OWN the LIE.
>> >> I'm waiting....
>> >' Might as well keep waiting, too.
>> >> <crickets...>-
>> >(Enjoy the night)
>> Your 24 hours are GONE. You FAILED to PROVE your CLAIM, You OWN the
>> LIE.
>> YOU ARE A PROVEN LIAR.
>> ===================================
>> On Sat, 21 Mar 2009 12:06:17 -0700 (PDT), Transition Zone
>> <mogu...@hotmail.com> wrote:
>> >On Mar 19, 3:17 pm, Patriot Games <Patr...@America.Com> wrote:
>> >> STILL WAITING for your CITE of those UN Proceedings..........
>> >No need, because...
>> Thanks for ADMITTING YOU ARE A LIAR.
>> Case closed.
>> Game over.
>Game?
Yes, hunting down LIARS is a "game" to me, much like hunting deer or
bear is a "sport" to those so inclined.
The reward is both immediate and long-term. The immediate reward is
embarrassing and humiliating you in public. The long-term reward is
watching posters SHUN you once they are aware that you are a LIAR.
==============================================================================
TOPIC: Cheaper Kindle
http://groups.google.com/group/rec.arts.books/t/83369cb7977feb61?hl=en
==============================================================================
== 1 of 3 ==
Date: Fri, Oct 23 2009 10:10 am
From: mstemper@walkabout.empros.com (Michael Stemper)
In article <hbrcl4$kru$2@news.eternal-september.org>, "Sea Wasp (Ryk E. Spoor)" <seawasp@sgeinc.invalid.com> writes:
>Gutless Umbrella Carrying Sissy wrote:
>> Jesper Lauridsen <rorschak@sorrystofanet.dk> wrote in news:hbqred$1ic$1@news.eternal-september.org:
>>>> Despite how you may treat it, Usenet does not have to follow a
>>>> pattern of attack and counter-attack. Sometimes people can just
>>>> use a post as an inspiration for a marginally-related followup.
>>> But that assumes Usenet is used to exchange ideas and
>>> information. That's not the Usenet Austin is on.
>>>
>> That's not the usenet anyone else is on, either.
>
> I believe in that Usenet! I do!
And, children, if you believe really hard, that poison won't kill it.
--
Michael F. Stemper
#include <Standard_Disclaimer>
2 + 2 = 5, for sufficiently large values of 2
== 2 of 3 ==
Date: Fri, Oct 23 2009 11:42 am
From: Gutless Umbrella Carrying Sissy
"Sea Wasp (Ryk E. Spoor)" <seawasp@sgeinc.invalid.com> wrote in
news:hbrcl4$kru$2@news.eternal-september.org:
> Gutless Umbrella Carrying Sissy wrote:
>> Jesper Lauridsen <rorschak@sorrystofanet.dk> wrote in
>> news:hbqred$1ic$1@news.eternal-september.org:
>>
>>> On 2009-10-21, Mike Ash <mike@mikeash.com> wrote:
>>>> In article <Xns9CAB5D126F602taustingmail@69.16.186.7>,
>>>> Gutless Umbrella Carrying Sissy <taustinca@gmail.com> wrote:
>>>>> Then why didn't you respond to it?
>>>> Despite how you may treat it, Usenet does not have to follow
>>>> a pattern of attack and counter-attack. Sometimes people can
>>>> just use a post as an inspiration for a marginally-related
>>>> followup.
>>> But that assumes Usenet is used to exchange ideas and
>>> information. That's not the Usenet Austin is on.
>>>
>> That's not the usenet anyone else is on, either.
>>
>
> I believe in that Usenet! I do!
>
Er, which one?
I believe I'm going to go have lunch.
--
Terry Austin
"Terry Austin: like the polio vaccine, only with more asshole."
-- David Bilek
Jesus forgives sinners, not criminals.
== 3 of 3 ==
Date: Fri, Oct 23 2009 11:43 am
From: Gutless Umbrella Carrying Sissy
mstemper@walkabout.empros.com (Michael Stemper) wrote in
news:hbso22$r6l$3@news.eternal-september.org:
> In article <hbrcl4$kru$2@news.eternal-september.org>, "Sea Wasp
> (Ryk E. Spoor)" <seawasp@sgeinc.invalid.com> writes:
>>Gutless Umbrella Carrying Sissy wrote:
>>> Jesper Lauridsen <rorschak@sorrystofanet.dk> wrote in
>>> news:hbqred$1ic$1@news.eternal-september.org:
>
>>>>> Despite how you may treat it, Usenet does not have to follow
>>>>> a pattern of attack and counter-attack. Sometimes people can
>>>>> just use a post as an inspiration for a marginally-related
>>>>> followup.
>>>> But that assumes Usenet is used to exchange ideas and
>>>> information. That's not the Usenet Austin is on.
>>>>
>>> That's not the usenet anyone else is on, either.
>>
>> I believe in that Usenet! I do!
>
> And, children, if you believe really hard, that poison won't
> kill it.
>
There is hard scientific evidence that the placebo effect has
gotten stronger in recent years. Coincidentally (heh), during the
same time period, belief in quack medicine, like homeopathy, has
increased as well.
--
Terry Austin
"Terry Austin: like the polio vaccine, only with more asshole."
-- David Bilek
Jesus forgives sinners, not criminals.
==============================================================================
TOPIC: Texas Death Penalty was Bookstores Around etc
http://groups.google.com/group/rec.arts.books/t/92153a6882249799?hl=en
==============================================================================
== 1 of 2 ==
Date: Fri, Oct 23 2009 1:18 pm
From: mvp@web1.calweb.com (Mike Van Pelt)
In article <hbodmm$i6e$1@news.eternal-september.org>,
Francis A. Miniter <faminiter@comcast.net> wrote:
>I think Biff did mean Bush and in his capacity as Governor.
> In a state death penalty case, the power of commuting the
>sentence lies with the Governor.
Not in Texas.
"Under Texas law, the Governor is not permitted to grant pardon
or parole, or to commute a death penalty sentence to life
imprisonment, on his own initiative (the law was changed after
former Governor James Ferguson was charged with selling pardons
for political contributions). Instead, the Board of Pardons and
Paroles will recommend to the Governor whether or not to grant
such. If the Board recommends such, the Governor is free to
reject the recommendation, but if the Board chooses not to
recommend such, in the case of a death penalty sentence the
Governor can only grant a one-time, 30-day reprieve."
(Yeah, yeah, insert "what does Wikipedia know" boilerplate.)
--
Mike Van Pelt "If they're going to talk about
mvp.at.calweb.com Camelot, then we get to talk about
KE6BVH The Lady in the Lake." - ?
== 2 of 2 ==
Date: Fri, Oct 23 2009 3:47 pm
From: "W. Citoan"
Mike Van Pelt wrote:
> In article <hbodmm$i6e$1@news.eternal-september.org>, Francis A.
> Miniter <faminiter@comcast.net> wrote:
> >I think Biff did mean Bush and in his capacity as Governor. In a
> >state death penalty case, the power of commuting the sentence lies
> >with the Governor.
>
> Not in Texas.
Yes, even in Texas.
> "Under Texas law, the Governor is not permitted to grant pardon or
> parole, or to commute a death penalty sentence to life imprisonment,
> on his own initiative (the law was changed after former Governor
> James Ferguson was charged with selling pardons for political
> contributions). Instead, the Board of Pardons and Paroles will
> recommend to the Governor whether or not to grant such. If the Board
> recommends such, the Governor is free to reject the recommendation,
> but if the Board chooses not to recommend such, in the case of a
> death penalty sentence the Governor can only grant a one-time, 30-day
> reprieve."
>
> (Yeah, yeah, insert "what does Wikipedia know" boilerplate.)
That still states that the power lies with the Governor. He cannot do
it without the recommendation of the board, but the board only gives a
recommendation. It cannot actually pardon anyone.
- W. Citoan
--
Happy is the man that findeth wisdom, and the man the getteth
understanding.
-- Proverbs (Bible)
==============================================================================
TOPIC: The book that contains all books
http://groups.google.com/group/rec.arts.books/t/1950ed5393c908a7?hl=en
==============================================================================
== 1 of 1 ==
Date: Fri, Oct 23 2009 6:21 pm
From: rab
In article <f313497b-a49f-4cec-b3da-
28d5462a1dd1@f18g2000prf.googlegroups.com>
rmak <rca...@live.com> wrote:
>
> x-no-archive:yes
> On Oct 18, 9:40=A0pm, rab
> <fr...@spamexpire-200910.rodent.frell.theremailer.net> wrote:
> > (Wall Street Journal) - On October 19th, the Kindle 2
> > (Amazon.com: http://xrl.us/KindleInternational) will
> > become the first e-reader available globally. The only
> > other events as important to the history of the book are
> > the birth of print and the shift from the scroll to bound
> > pages. The e-reader, now widely available, will likely
> > change our thinking and our being as profoundly as the two
> > previous pre-digital manifestations of text. The question
> > is how. And the answer can be found in the history of
> > earlier book forms..
> >
> > Continued: http://xrl.us/KindleReader
>
> Was this Wall Street Journal article written by an Amazon shareholder?
(1) Could be. Amazon stock up nearly 25% on Friday.
(2) "Amazon Kills U.S. Kindle, Cuts International Price"
Wired: http://www.wired.com/gadgetlab/?p=26744
==============================================================================
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