Tank Museum
Published on 24 Nov 2017The Mark IV tank was the most numerous of the First World War and went in to battle en masse at the Battle of Cambrai, 20 November 1917. In this special edition of Tank Chats, Curator David Willey explains how the Mark IV tank functions and how it was used to break through the World War One German defences.
November 25, 2017
Cambrai Tank Chats Special: The Mark IV Tank
Comments Off on Cambrai Tank Chats Special: The Mark IV Tank
There are all kinds of sensible recycling … this isn’t one of them
In the Guardian, Calla Wahlquist reports on a recycling initiative that we almost certainly don’t need:
At the close of the Rootstock sustainable wine festival in Sydney last year, Tasmanian distiller Peter Bignell looked around the tasting room at the carefully-spaced spittoons and thought: what a waste.
Together the spit buckets contained about 500 litres of discarded wine, which had been swilled then dumped during the two-day event.
Some wine had been dutifully spat out by responsible tasters keen to get to the end of their extensive list with tasting notes intact, but the majority was the largely untouched leavings of an overly generous pour.
It’s nothing new in the idea of using spit to make food
Peter Bignell
For Bignell, whose Belgrove distillery in Kempton, Tasmania, is the only one in Australia that runs entirely on biodiesel, all this wasted wine was hardly in keeping with a sustainable event.The obvious solution was to drink it again.
After 12 months at Poor Tom’s gin distillery in Marrickville, the spit bucket wine has been transformed into an 80-proof clear spirit that tastes something like an unaged brandy.
It is, reportedly, quite nice.
H/T to Tim Worstall, who rightly comments “Distillation will obviously have thoroughly cleaned it. But still. It’s not as if the world is short of crap wine to turn into cooking brandy now, is it?”
Comments Off on There are all kinds of sensible recycling … this isn’t one of them
Paul Kidby’s Discworld Imaginarium
Jessica Brisbane linked to this Guardian overview of a new book by Paul Kidby, collecting his art to accompany Terry Pratchett’s Discworld series:
Terry Pratchett’s ‘artist of choice’ Paul Kidby introduces some of the images he produced during their decades-long collaboration
Comments Off on Paul Kidby’s Discworld Imaginarium
Can You Beat the Market?
Marginal Revolution University
Published on 23 Aug 2016On average, even professional money managers don’t beat the market. To show you why, here’s a scenario to consider:
Say we advise you to invest in companies serving the aging US population. Since the percentage of elderly will rise over the coming decades, it makes sense to invest now in products and services that the elderly might need. Sounds logical, right? Wrong.
See, the aging of the US population isn’t a secret. It’s public information. Now, say you acted on the information and did buy stock as we advised. The current price of that stock already reflects information known to the market. Thus, it’s hard to systematically outperform the market, given that everyone else tends to have the same information you do. This is also the main idea behind the efficient market hypothesis.
According to the efficient market hypothesis, the prices of traded assets already reflect all publicly available information.
With information available to buyers and sellers alike, no one has any sustainable advantage over anyone else. This is why even the pros tend not to beat the market. And that aside, even if news did pop up to change the price of an asset, it would be at random and would likely be reflected in the asset price almost immediately. So there’s no reliable way to forecast performance.
As proof of that, take the Challenger space shuttle crash of January 28, 1986. Within minutes of the crash, the news hit the Dow Jones wire service. The stock prices of the major contractors who helped build the shuttle fell immediately. Keep in mind: that was in the 80s. At today’s pace, new information can change stock prices within seconds. This is why stock tips often end up obsolete.
So to sum up — it’s hard to beat the market. You have to accept that.
Still, how should you invest? That’s what we’ll discuss in the next video.
Comments Off on Can You Beat the Market?
QotD: Reading
Reading is inherently ephemeral, but it feels less so when you’re making your way through a physical book, which persists when you’ve finished it. It is a monument to the activity of reading. It makes this imaginary activity entirely substantial. But the quiddity of e-reading is that it effaces itself. […] There is a disproportionate magic in the way black marks on white paper — or their pixilated facsimiles — stir us into reverie and revise our consciousness. Still, we require proof that it has happened. And that proof is what the books on my shelves continue to offer.
Verlyn Klinkenborg, “Books to Have and to Hold”, New York Times, 2013-08-10.
Comments Off on QotD: Reading
