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{ Monthly Archives } March 2008

Unbearably Cool

Bear Stearns and March Madness

The investment market in mortgage backed securities isn’t a simple coin flip, and it’s not a zero sum game — over time there will be more money around in the game than the players started with. It’s still essentially random — you don’t know who will default on a mortgage, you don’t know what else […]

McArdle’s Law

If someone finds ways to exclude any source of possibly disconfirming evidence from the realm of credible authorities, they are probably a crank. — Megan McArdle Okay, I started out calling it Megan’s Law. I thought it sounded familiar.

Twenty for a Penny

My new article on Pajamas Media. Update: Full article below the fold.


That profound imaginative connection with the great void is one of the things that separates science fiction writers and fans from the unimaginative plodding mass of humanity. —John Derbyshire

Sir Arthur C Clarke, CBE 1917-2008

“Oh my God! It’s full of stars!” My obituary for Clarke is up at PJM. John Derbyshire’s is up at NRO. See also the quote of the day. Update: Full article below the fold.


Capitulation, n., (financial markets), When the losers, having lost all hope, solidify their losses by selling everything to the winners.

Cross Culture

Fan Letter

… to Rusty Warren, who most of you won’t remember. Subject: Old fan, … who started as a very young fan here. I just found your web site because I was mentioning you in an article I’m writing about the music industry (for Pajamas Media); I’m glad to see you’re still around! Back a zillion […]

Periodic Apology

I know I haven’t posted much this week. It’s been a big week for the day job; meetings and some new challenges, plus writing a technical paper or two. But I’ve got another PJM piece going in tonight — with luck, it will be published before too long — and I’ll have new Buddhism stuff […]