椭圆机:20分钟。跑步:35分钟,5000米。
新书
Posted in LF的书架 on 02/03/2010 02:30 pm by fli看完了“Street fighter: The last 72 hours of Bear Stearns, the toughest firm on Wall Street”.
The book is a quick read. There is not much new information given that I’ve read so many books on the financial crisis now. It’s written by Kate Kelly, a journalist. It really goes beyond the 72 hours before the firm got purchased by JPM (how could you fill a 200-page book based on 72 hours of events?) Some interesting anecdote: The father of Andrew Metrick (who is at Yale now) is a senior executive at Bears; Hank Paulson is a Christian Scientist and environmentalist; Jamie Dimon knows a lot about the technical details of accounting.



Chicago school of Economics
Posted in LF的书架 on 01/24/2010 03:24 pm by fliNew Yorker blogger John Cassidy interviewed eight Chicago economists and talked about the efficient market hypothesis and the rational expectation models in light of the financial crisis. Very fun reads.
In particular, the following conversations are very interesting:
Cassidy: I spoke to Cochrane. He said the problem with behavioral economics is it is too flexible—you can use it to explain anything. He also pointed out that Robert Shiller has been calling for economics to incorporate psychological insights for thirty years, but little progress has been made.
[In answering this question, Thaler brought up the Internet stock bubble, during which shares in Palm, the handheld computing companies, were worth more than the entire market capitalization of Palm’s parent company, 3Com.]
Thaler: [Cochrane] has a model explaining why, during the Internet bubble, the prices of Palm and 3Com were rational. Rational models are one hundred per cent flexible. If you allow time-varying discount rates, there is no discipline whatsoever. If you look at what happened to tech stocks and then to real estate, and you say maybe there wasn’t a bubble—where is the discipline in that?
I think it’s fair to say that behavioral economics hasn’t solved everything. That is true. But to say Shiller and I have been doing it for thirty years—there was just me and him. Now we have some young recruits. We are not outmanned a thousand to one. But there is work to do.
Pet Panel pet care
Posted in Family on 01/22/2010 08:51 pm by nicoleWe are pleased to offer you this good pet care center, Pet Panel! If you are going on a trip, and you don’t want your pet (any type
of pet) to go hungry, leave your pet to us! Pet food and clothes, and leashes will be supplied, so no need to bring anything!( exept your pet!)
WHEN: saturdays and sundays 11:00 AM to 7:00 PM WHERE: 2107 Chaucer Dr. Ann Arbor, MI 48103
FEE: 5$ a day 2$ a few hours Call: 741 4836
HOSTS: Isebella McCarthy, Abigal Mehraban, And Nicole Li.
Pet Panel allows TWO pets at a time. We will even clean your pets poop! (snakes not allowded)
THANK YOU FOR SUPPORTING PET PANEL! Sincerely, the hosts
新书
Posted in LF的书架 on 01/20/2010 05:47 pm by fli看完了Henry Kaufman写的”The road to financial reformation: warnings, consequences, reforms”

锻炼
Posted in LF的锻炼日记 on 01/19/2010 01:46 pm by fli跑步:40分钟,7000米。椭圆机:15分钟。游泳:300米。
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Nicole游泳注意事项。
自由泳:换气抬头太高,时间太长。
蛙泳:手臂划水幅度太大。
仰泳:腿太低,有坐在水里的趋势。
I made up Cooking Club
Posted in Note's on 01/18/2010 03:28 pm by nicoleAfter school, I go to a after school program called Kids Club. In Kids Club, kids get to make up clubs. Then the Kids Club supervisors make club sign up sheets. I made Cooking Club. It was a big hit. People got kicked out of the club because it was so mobbed. There are about fifty to sixty people in Kids Club. About thirty signed up for my club. So that means there are only 20 people left in the outside of the club! There is going to be a cooking show for the Kids Club friendship feast. Cooking Club is going to get into groups. There will be tables set up on the stage. Each group will make their own dish and set it on the tables to make a display, then the audience will get to eat it for their dinner. I am glad everybody likes my idea for Cooking Club.
新书
Posted in LF的书架 on 01/17/2010 10:47 am by fli读完了Gasparino写的”The sellout: how three decades of Wall Street greed and government mismanagement destroyed the global financial system.”
This is one of the better books that I’ve read so far on the financial crisis. Compared with the other two books on Bear Sterns and Lehman Brothers, this book covers a much broader range of firms, starting with Salomon Brothers in the 80s and digging into firms such as Merrill, Citi, JPM, Morgan Stanley, and GS with more depth. Much of the book is based on anecdotes or conversations with the executives of these firms. It does feel quite repetitive from time to time when reading the book. The main thesis is that the excess leverage taken by the Wall Street firms leads to their eventual collapse. Inevitably, a book such as this tends to be oversimplified in the process of searching for the truth for a phenomenon as complicated as a financial bubble and crisis. Overall, an interesting read; even though it does not necessarily give the readers more insights into the financial crisis, it provides many fun stories about the firms in the last 30 years.























































