Two New York games for the Caps this week. The first was against the Rangers, with the second on the Island.
The first, against the injury-depleted Rangers, was the Caps second-worst game of the season, I think (behind only the 7-0 drubbing from back in December). I saw nothing good in the newly two periods I watched of it. I turned it off after the second time I got up in the second period, and came back to find another goal scored. At 4-0, I was seeing no signs of any reason to hope. They weren't being unlucky (well, maybe a little, but not significantly), they were just getting out-worked, and generally worked over, by the Rangers.
How upset was management? Perreault got sent down, DJ got waived (about time, that), Marco Sturm was picked up off waivers, MarJo started the Islanders game centering OV and Knuble, and the lines were generally shuffled.
Tonight's game against the Islander started out just as bad. Actually, given all the horrendous turnovers in the first period, maybe even worse. But Neuvy had a stellar game, thankfully, and kept them in it. Actually, his game was even better than it appeared, as he can't really be blamed for either goal tonight. One was a very nice screen (on which Alzner made an uncharacteristically terrible play), and the other was just a fluke on a knuckling puck.
But really, the Caps only had, I think, two good shifts in the first period. One was the Caps first shot of the game; a nice one by OV. The other was some beautiful, sustained pressure that ended with seven minutes left in the period. And it only ended because one of the Islanders got hit by a puck, and the play was whistled dead.
The second period started out similarly listless, with a second goal being surrendered about a minute in. And it kept going like that until just after the midpoint of the period, when Laich got a fairly lucky goal off a turnover at mid-ice. Somehow, the Caps seemed to turn it on about then, and play very well for the rest of the game.
In fact, they played well enough to end up winning the game, with Knuble and Semin (playing on the again-reconstituted SOB line) getting the tying and winning goals, respectively. Neuvy kept the Islanders off the sheet for the remainder of the game, backstopping the win.
So it's with mixed feelings, and a bit of tripidation, that I say, "Yay".
Next up will be the Islanders again on Tuesday, this time at home. We will hope that the team that finished tonight's game will show up, not the team that started it.
20110226
Epic Banking Fail
The library finally got Malkiel's latest edition of Random Walk Down Wall Street to me earlier today (it took an inordinately long time; something like two weeks to inprocess the book. Dunno what's typical, but I'd think on the order of a day).
I must admit, I ended up feeling good that I'd gotten the previous edition (due to buying it a couple of months before this edition came out). I didn't go through the whole book looking for updates, but I looked for something on the mortgage crisis/bubble (there, but short and not very thorough) and to see if anything was updated in the derivatives section (actually removed). The rest of the changes appeared to be minor updates.
The reason I felt like I knew enough about the mortgage crisis to be disappointed with the handling of it in Random Walk was that I recently read Michael Lewis' The Big Short.
It wasn't the first Lewis book I'd read. I read about Moneyball, when it came out, on a number of baseball blogs; several years later, I finally read it. And a friend gave me The Blind Side when it came out, which I read very shortly thereafter. I've also read some pieces he's written for Vanity Fair.
He's a very funny and insightful writer. His descriptions of Michael Oher playing high school football had me laughing out loud repeatedly. But what really struck me about The Big Short was how good his analogies were. They really helped to simplify a very complex process.
And that's what I mostly got out of the book, was seeing the financial legerdemain that tried to follow the Yellow Brick Road. And that gave a great deal of insight into what happened on the way to the Emerald City.
But another good part about the book was being introduced to many of the major players (the big winners, as well as some of the losers).
One way that the book fell short, for me, was that his overarching thesis was that the 80s investment bank milieu (which he wrote about in Liar's Poker) had never really ended until this all happened.
My problem with that is that I don't see how it's actually ended, except, perhaps, in a sense so narrow as to be useless. The narrow truth is that all the big investment banks ended up as depository banks, or bought by same, or went out of business.
But the problem comes in in seeing how that actually made them change how they operate. The people who caused the problems still ended up rich (as Lewis himself points out) as Midas. There's no evidence that Too Big To Fail will not be the case in a subsequent crisis (you know, privatized profits with socialized losses). The banker's bonus money still flows like a river in flood. In fact, with the banking "reform" bill eliminating "mark to market", it could be argued that things are even worse now, systemically.
Another minor problem (minor because I'm sure Lewis would argue that it was beyond the scope of what he was writing, and my only counterargument to that is how big a deal this is) is that he doesn't get into just how close this mess came to bringing down the entire banking system. According to what I've read lately, we were days away from not being able to get money from an ATM, because the banks wouldn't lend to each other. Yes, it was that bad.
But despite those two issues, I thought the book was fabulous. I really appreciated how he laid out the trickery (and treachery), that built the house of cards. Next up on my reading list (for financial matters, anyway), is Matt Taibbi's Griftopia. We'll see how that adds to my understanding.
I must admit, I ended up feeling good that I'd gotten the previous edition (due to buying it a couple of months before this edition came out). I didn't go through the whole book looking for updates, but I looked for something on the mortgage crisis/bubble (there, but short and not very thorough) and to see if anything was updated in the derivatives section (actually removed). The rest of the changes appeared to be minor updates.
The reason I felt like I knew enough about the mortgage crisis to be disappointed with the handling of it in Random Walk was that I recently read Michael Lewis' The Big Short.
It wasn't the first Lewis book I'd read. I read about Moneyball, when it came out, on a number of baseball blogs; several years later, I finally read it. And a friend gave me The Blind Side when it came out, which I read very shortly thereafter. I've also read some pieces he's written for Vanity Fair.
He's a very funny and insightful writer. His descriptions of Michael Oher playing high school football had me laughing out loud repeatedly. But what really struck me about The Big Short was how good his analogies were. They really helped to simplify a very complex process.
And that's what I mostly got out of the book, was seeing the financial legerdemain that tried to follow the Yellow Brick Road. And that gave a great deal of insight into what happened on the way to the Emerald City.
But another good part about the book was being introduced to many of the major players (the big winners, as well as some of the losers).
One way that the book fell short, for me, was that his overarching thesis was that the 80s investment bank milieu (which he wrote about in Liar's Poker) had never really ended until this all happened.
My problem with that is that I don't see how it's actually ended, except, perhaps, in a sense so narrow as to be useless. The narrow truth is that all the big investment banks ended up as depository banks, or bought by same, or went out of business.
But the problem comes in in seeing how that actually made them change how they operate. The people who caused the problems still ended up rich (as Lewis himself points out) as Midas. There's no evidence that Too Big To Fail will not be the case in a subsequent crisis (you know, privatized profits with socialized losses). The banker's bonus money still flows like a river in flood. In fact, with the banking "reform" bill eliminating "mark to market", it could be argued that things are even worse now, systemically.
Another minor problem (minor because I'm sure Lewis would argue that it was beyond the scope of what he was writing, and my only counterargument to that is how big a deal this is) is that he doesn't get into just how close this mess came to bringing down the entire banking system. According to what I've read lately, we were days away from not being able to get money from an ATM, because the banks wouldn't lend to each other. Yes, it was that bad.
But despite those two issues, I thought the book was fabulous. I really appreciated how he laid out the trickery (and treachery), that built the house of cards. Next up on my reading list (for financial matters, anyway), is Matt Taibbi's Griftopia. We'll see how that adds to my understanding.
20110224
DOMA-ciliation
I heard yesterday, I think, that Obama had decided not to defend DOMA in court. I must admit, I'm very conflicted on this, on several levels.
On the one hand, I think DOMA must go. I think it's pointlessly discriminatory, and doesn't actually help anyone (though the homophobes certainly will claim it helps them. And I suppose if their peace of mind is a priority, I can't really argue with that).
But it isn't the President's place to decide that a law is unconstitutional; this is part of why the courts exist. Plus, the DoJ is basically admitting that Obama is giving them an order. Given that a significant part of the why the DoJ exists is to make sure that the executive branch is actually following the law, the President giving them orders certainly sounds like the DoJ doesn't believe in their own mandate. And that disturbs me greatly.
If the President does something clearly illegal, who else is going to pursue it? If the President is calling all the shots, then it seems to be nobody.
On the one hand, I think DOMA must go. I think it's pointlessly discriminatory, and doesn't actually help anyone (though the homophobes certainly will claim it helps them. And I suppose if their peace of mind is a priority, I can't really argue with that).
But it isn't the President's place to decide that a law is unconstitutional; this is part of why the courts exist. Plus, the DoJ is basically admitting that Obama is giving them an order. Given that a significant part of the why the DoJ exists is to make sure that the executive branch is actually following the law, the President giving them orders certainly sounds like the DoJ doesn't believe in their own mandate. And that disturbs me greatly.
If the President does something clearly illegal, who else is going to pursue it? If the President is calling all the shots, then it seems to be nobody.
20110223
South-Least Division?
People have been calling it that for a long time (of course, I remember the Norris Division being a joke for a long time too, so you never know), but many were saying that it wasn't so anymore this year. And I believed that for a while.
But yesterday, I looked at the standings for the division, and noticed that the Caps were the only team with a positive goal differential (though at only +12, they're hardly blowing the doors off the competition). So I think it's a bit premature to remove that moniker, though it certainly looks more promising for the future.
But yesterday, I looked at the standings for the division, and noticed that the Caps were the only team with a positive goal differential (though at only +12, they're hardly blowing the doors off the competition). So I think it's a bit premature to remove that moniker, though it certainly looks more promising for the future.
Catapulting to Success
I keep up with a number of comic strips online (I usually catch up every 2-4 weeks, which is sad). But this one I found particularly funny. I think it's probably only a little bit less cleanly than just trying to put food directly into a young toddler's mouth.
20110221
But a Tiny Bit Sad, as Well
It's been seeming likely that this would happen for quite a while, but now it's actually happened. Borders has declared bankruptcy. They aren't completely liquidating; from what I understand, they got a loan to keep some of the stores running for at least a while longer, but they're essentially gone.
And that makes me sad, because I remember how I felt when I went into a Borders. Given that Waldenbooks (owned by Borders; not sure if they're now all gone), B Dalton (later bought out by Barnes and Noble; not sure if any of these are still around), and Crown Books (became, or were bought by, Books-A-Million some years ago) were the only bookstores at the time, it was really exciting to see how many options were available in a Borders.
But I can see how I didn't help keep them around, either, despite how cool I used to find them. I haven't bought a book at full price at Borders in years. When they've had 30-50% coupons, I've bought a few books here and there, but I've mostly bought all my books at Amazon for many years.
And that makes me sad, because I remember how I felt when I went into a Borders. Given that Waldenbooks (owned by Borders; not sure if they're now all gone), B Dalton (later bought out by Barnes and Noble; not sure if any of these are still around), and Crown Books (became, or were bought by, Books-A-Million some years ago) were the only bookstores at the time, it was really exciting to see how many options were available in a Borders.
But I can see how I didn't help keep them around, either, despite how cool I used to find them. I haven't bought a book at full price at Borders in years. When they've had 30-50% coupons, I've bought a few books here and there, but I've mostly bought all my books at Amazon for many years.
Feeling Great, of Late
Been a bit quiet of late, because my wife gave birth to our son about a week ago. As anyone with kids can tell you, that really makes it hard to do much requiring more than ten minutes.
So I've missed most of the Caps games since then. I saw the Sharks game, to some disappointment (and even greater disappointment when I heard that Boudreau had called out Neuvy after the game. The first goal there might have been a bit soft, but he'd played a fabulous game, and absolutely did not deserve that). The Kings game was pretty similar, with the Caps playing well for the first period and then falling apart. I completely missed the Yotes and Ducks games. I saw a bit of the latter Sharks game, but am having trouble calling any specifics of it to mind. And I totally missed the Sabres game last night.
But I've got this little guy to look after, so no worries.
20110206
Having the Answer
I heard this interview with Gordon Murray when it first played, on December 17th. I was impressed with him, particularly when he talked about his disease (he has a brain tumor that eventually took his life exactly one month after that). But I forgot about his book entirely by the time I got home that day.
But I had it suggested to me again last week, and ended up ordering it. The book is very small; only sixty-six pages. I read the entire thing between the two games earlier today.
As you'd expect, it doesn't get bogged down in details, but it is very good at conveying the important details. If you want more details, the Random Walk book I talked about previously has most of them.
But this one also talks about a few other issues, such as what to look for if you go searching for a financial adviser. That section was very good, and mentioned a couple of things I probably would not have thought about on my own.
It also went over diversification and styles of investing (active vs passive). Those parts weren't as good (to me, at least), but were still interesting. One important point in that section was on rebalancing, and how that helps you maintain your preferred risk profile. Again, useful.
I think this book is a fantastic introduction to investing; it really does hit the important points without a lot of fluff. And, being so short, it can easily be finished in one sitting.
Dunno if I'd recommend it for people with significant experience (almost certainly not, if the parts I mentioned don't sound useful), but I definitely would for anyone starting out.
Update: Forgot to mention... You might notice that that link to Random Walk is for a new edition of the book that came out last month. I haven't looked at it, but I might try to find it. Unfortunately, I doubt the library will have it. *sigh* It'd be cool if it addressed the issues I mentioned.
Update 2: Just checked the library; they have the new edition on order, and I'm first in the hold queue. Dunno how long that'll take, but it looks good.
But I had it suggested to me again last week, and ended up ordering it. The book is very small; only sixty-six pages. I read the entire thing between the two games earlier today.
As you'd expect, it doesn't get bogged down in details, but it is very good at conveying the important details. If you want more details, the Random Walk book I talked about previously has most of them.
But this one also talks about a few other issues, such as what to look for if you go searching for a financial adviser. That section was very good, and mentioned a couple of things I probably would not have thought about on my own.
It also went over diversification and styles of investing (active vs passive). Those parts weren't as good (to me, at least), but were still interesting. One important point in that section was on rebalancing, and how that helps you maintain your preferred risk profile. Again, useful.
I think this book is a fantastic introduction to investing; it really does hit the important points without a lot of fluff. And, being so short, it can easily be finished in one sitting.
Dunno if I'd recommend it for people with significant experience (almost certainly not, if the parts I mentioned don't sound useful), but I definitely would for anyone starting out.
Update: Forgot to mention... You might notice that that link to Random Walk is for a new edition of the book that came out last month. I haven't looked at it, but I might try to find it. Unfortunately, I doubt the library will have it. *sigh* It'd be cool if it addressed the issues I mentioned.
Update 2: Just checked the library; they have the new edition on order, and I'm first in the hold queue. Dunno how long that'll take, but it looks good.
Cheesehead Champs
Watched the Superbowl this evening, mostly in realtime. The Packers sure brought it at the beginning of the game, but took almost the entire third period off before sealing the win at the end.
The Steelers really shot themselves in the foot, though, with three turnovers. Well, probably shouldn't blame those on the Steelers; they were both very nice plays by the Packers (the first by the lineman who hit Roethlisberger as he was releasing the ball, the second by the safety who picked it off).
I did like the option play that the Steelers ran for the two-point conversion to pull within a field goal late in the game. I was disappointed that the Packers didn't do more designed roll-outs. The one that they did run worked quite well, but they didn't come back to it, for some reason.
I must admit one thing was disappointing. The reason I watched most of the game in realtime was that I wanted to see the commercials, but I didn't really think any of them were especially good. By far, my favorite was this Volkswagen commercial that I had already seen last week.
There were lots of upcoming movies; Kung Fu Panda 2, Transformers 3, Pirates of the Caribbean 4, and Fast and Furious 5. Non-sequels? Well, there were a few, though Rango is the only one that stuck in mind. It's too early to be too sure, but it's entirely possible that Panda is the only one of those I'll watch.
I thought the halftime show was reasonably good, although the bar there is so low that I'm not sure that's actually a compliment.
Anyway, congratulations to the Cheeseheads, you are the Champions again.
Side note: my dad called earlier today, and asked if the baby was trying to come out today. I was a little confused about that (he's due soon, but not today), until he reminded me that I was born on Superbowl Sunday, and said he was contemplating it being a generational thing. Thankfully, no.
The Steelers really shot themselves in the foot, though, with three turnovers. Well, probably shouldn't blame those on the Steelers; they were both very nice plays by the Packers (the first by the lineman who hit Roethlisberger as he was releasing the ball, the second by the safety who picked it off).
I did like the option play that the Steelers ran for the two-point conversion to pull within a field goal late in the game. I was disappointed that the Packers didn't do more designed roll-outs. The one that they did run worked quite well, but they didn't come back to it, for some reason.
I must admit one thing was disappointing. The reason I watched most of the game in realtime was that I wanted to see the commercials, but I didn't really think any of them were especially good. By far, my favorite was this Volkswagen commercial that I had already seen last week.
There were lots of upcoming movies; Kung Fu Panda 2, Transformers 3, Pirates of the Caribbean 4, and Fast and Furious 5. Non-sequels? Well, there were a few, though Rango is the only one that stuck in mind. It's too early to be too sure, but it's entirely possible that Panda is the only one of those I'll watch.
I thought the halftime show was reasonably good, although the bar there is so low that I'm not sure that's actually a compliment.
Anyway, congratulations to the Cheeseheads, you are the Champions again.
Side note: my dad called earlier today, and asked if the baby was trying to come out today. I was a little confused about that (he's due soon, but not today), until he reminded me that I was born on Superbowl Sunday, and said he was contemplating it being a generational thing. Thankfully, no.
Subscribe to:
Posts (Atom)