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The Deipnosophist

Where the science of investing becomes an art of living

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Location: Summerlin, Nevada, United States

A private investor for 20+ years, I manage private portfolios and write about investing. You can read my market musings on three different sites: 1) The Deipnosophist, dedicated to teaching the market's processes and mechanics; 2) Investment Poetry, a subscription site dedicated to real time investment recommendations; and 3) Seeking Alpha, a combination of the other two sites with a mix of reprints from this site and all-original content. See you here, there, or the other site!

18 October 2005

Two articles, worth reading

1) TIME magazine "assembled some of the smartest people we know to identify the trends that are most likely to affect our future. What we got was a fascinating discussion about religion, technology and politics and why no one's golf scores seem to be getting any better."

Some intriguing comments and insights occur in this discussion...

"I'd like to make a distinction between change and progress. A lot of what we've been talking about falls in the category of change, not progress. To use a prosaic example, technology related to golf has improved and will continue to improve dramatically. Golf clubs are way better today than they were 10 years ago, and will be way better 10 years from now. Golf scores, however, have remained absolutely stable. This is an important distinction because historically when we talked about the future, we always talked about the possibilities for progress. Today when we talk about the future, we talk about the possibilities for change, which says that either we have deliberately lowered expectations or we're playing a game where we're pretending what we're talking about is progress when all we're doing is talking about change."

Read it here...

2) I was in the mood for a chuckle or two, when I came across this humorous anti-portfolio update (investments the firm did not make) from Bessemer Venture Partners (a venture capital investment firm). Definitely what the doctor ordered. Of course, I will showcase the comment as to why the firm did not invest in Google:
"Cowan’s college friend rented her garage to Sergey and Larry for their first year. In 1999 and 2000 she tried to introduce Cowan to “these two really smart Stanford students writing a search engine”. Students? A new search engine? In the most important moment ever for Bessemer’s anti-portfolio, Cowan asked her, 'How can I get out of this house without going anywhere near your garage?'"


Continue reading here...

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