I think you're allowed to simultaneously hold diametrically opposed positions as long as you do it on opposite sides of the earth. Dubai and NZ may qualify.
Mike, eschewing the label of a journalist, as you are quick to do, does not excuse you from neglecting to mention that the patent also covers snow kitty and puppy variants. This could be important to some readers who wish to avoid infringing.
"Instead, what's wrong with just letting the market price decide how trustworthy the debt is?"
I can tell you what's wrong with that in two words: Bear Stearns. Here are some market prices for a share of Bear Stearns common stock:
Jan 2007 - $172
Feb 2008 - $93
Mar 12, 2008 - $60
Mar 14, 2008 - $2
The market had no idea of the real value of Bear Stearns. Any existing theory of efficient market pricing was utterly invalidated in 2008. While Bear Stearns is the most egregious example of this failing, it is not alone.
The value revealed by markets merely indicate the price level at which trades will be made. Those trading levels are often wildly unrelated to the underlying value of the thing being traded. In fact, the trade levels are also opinion. They are the current opinions of the buyers and sellers. Those opinions in aggregate ("the market") are no more prone to valuation accuracy than the opinions of the rating agencies. In fact the ratings agencies can at least expose their algorithms and methodologies to the scrutiny of an auditor. The motivations behind most trading is a mystery.
Mike IS right in that the detailed investment approaches for those acting on behalf of the public should not be dictated by statute. However, perhaps the best investment advice and guidance for pensions and trusts would be caveat emptor.
These backyard movie screens clearly have only one purpose: copyright infringement. After all, the neighbors (and other invited guests who have not paid an appropriate license fee) might see!
I agree that most of the cyberwarfare hyperbole is unwarranted. However, you've written about your interest in the Stuxnet story. Wouldn't you classify that incident as a cyberwarfare attack, and isn't that the prototype attack of the future that we should begin to seriously contemplate? That is: an attack conducted via computer code that causes damage in real life?
Tons of websites reporting gobs of Facebook generated traffic. News organizations observing the wild popularity of Facebook and the new importance of social media. Investors jumping over each other to jam money into the pockets of Facebook equity holders...and you say "stunning that Facebook has not implemented its own fix"? Yeah, "stunning" that Facebook hasn't shut that loop down.
On the post: US Hypocrisy: Supports Open Dialog On Internet Governance At WCIT; But Full Secrecy At Parallel TPP Negotiations
Exception
On the post: Russian Supreme Court: ISPs Need To Proactively Block 'Illegal Content'
Next Up?
On the post: Another Key Motorola vs. Apple Patent Trial Tossed Out By A Judge Frustrated With Apple's Games
Me too, please!
On the post: TSA Racial Profiling May Hide Larger Constitutional Problem
Say What?
On the post: The Sweet Taste Of Defeat: Band Must Pay Legal Fees For Frivolous Lawsuit Over One Used CD On eBay
Yeahhh!!!
On the post: Siri Caught Recommending The Nokia Lumia, Promptly Reprogrammed
Not Bashful
http://www.wolframalpha.com/input/?i=what+is+the+best+search+engine
On the post: DOJ Gives Its Opinion On SOPA By Unilaterally Shutting Down 'Foreign Rogue Site' Megaupload... Without SOPA/PIPA
Death Nell?
On the post: Dark Helmet's Favorite Posts Of The Week, Jerks....
Clowns
On the post: New Way To Build A Snowman: Patented!
What about snow pets?!
On the post: Let's Face It: S&P's Analysis Is A Joke... But It Still Has A Right To An Opinion
The Free Market Is Broken
I can tell you what's wrong with that in two words: Bear Stearns. Here are some market prices for a share of Bear Stearns common stock:
Jan 2007 - $172
Feb 2008 - $93
Mar 12, 2008 - $60
Mar 14, 2008 - $2
The market had no idea of the real value of Bear Stearns. Any existing theory of efficient market pricing was utterly invalidated in 2008. While Bear Stearns is the most egregious example of this failing, it is not alone.
The value revealed by markets merely indicate the price level at which trades will be made. Those trading levels are often wildly unrelated to the underlying value of the thing being traded. In fact, the trade levels are also opinion. They are the current opinions of the buyers and sellers. Those opinions in aggregate ("the market") are no more prone to valuation accuracy than the opinions of the rating agencies. In fact the ratings agencies can at least expose their algorithms and methodologies to the scrutiny of an auditor. The motivations behind most trading is a mystery.
Mike IS right in that the detailed investment approaches for those acting on behalf of the public should not be dictated by statute. However, perhaps the best investment advice and guidance for pensions and trusts would be caveat emptor.
On the post: 1984 Case Shows Abuse Of Phrase 'Public Performance' Has A Long, Ugly History
Um...
http://www.openaircinema.us/
These backyard movie screens clearly have only one purpose: copyright infringement. After all, the neighbors (and other invited guests who have not paid an appropriate license fee) might see!
On the post: Defense Department Pretty Much Incompetent In Dealing With Online Threats
Hmm
I agree that most of the cyberwarfare hyperbole is unwarranted. However, you've written about your interest in the Stuxnet story. Wouldn't you classify that incident as a cyberwarfare attack, and isn't that the prototype attack of the future that we should begin to seriously contemplate? That is: an attack conducted via computer code that causes damage in real life?
On the post: Major US ISPs Agree To Five Strikes Plan, Rather Than Three
And in related news...
On the post: We Need To Let Go Of The Idea That Our Creations Are Utterly Ours
And in related news...
On the post: How Many Websites Have Totally Bogus Traffic Numbers Due To Facebook Bug?
Hmm...
On the post: Feds Tell Supreme Court They Should Be Able To Stick A GPS Device On Your Car Without A Warrant
Wait, what?
On the post: How Cute: NY Times, WaPo & Gannett Build Their Own Walled Garden Most People Will Ignore
Re: Fools...
HeadOn, Airborne, rubber magic balance bracelets, copper arthritis bracelets, magnet healing therapies...
Catering to fools can be highly lucrative.
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