The newest slender section of the site is going to look that that. I’m tinkering with the design now, so I thought I’d throw the picture up here. Of course I’ll tell you all about it when the page is ready to go.
Class today, reading today. Also, the sun came out. I’d have to check the meteorological records for three or four cities, but I believe this was the first time I’d seen that big ball of fusion in more than a week.
Those were the highlights of the day.
And I also re-discovered Golden Smog:
The (economic) crisis also demonstrated flaws in large financial firms. These start with the too-big-to-fail problem. Large banks cannot be allowed to go down; knowing that, their creditors lend without monitoring their risks; as a result, their risk-taking is undisciplined. At the same time, each trading desk within a large banking supermarket has strong reason to load up on risk. If its bets come good, huge bonuses will ensue. If they go bad, the losses will be spread across the whole institution.
The question for policy-makers is what kind of financial institution will absorb risk most efficiently—and do so without a backstop from taxpayers. The answer awaits discovery in the story of A.W. Jones and his descendants. The future of finance lies in the history of hedge funds.
The page on starting a hedge fund redirects to a 404.