analogical

Re: Engineers are troublesome 'expert loners' , says prof
« Reply #40 on: November 11, 2009, 12:09:02 PM »
Quote
Quote from: JohnRoberts
When I run out of money like I expect to, I plan to die...I surely don't want to take money from healthy young people to buy me a few weeks in bed.
  :o
That's such a sad thing to say! I would rather you take my money if there is something you can offer on your deathbed that might improve our future... some imparted wisdom or advice.

Quote
Quote from: PRRYou want a bridge to support 1,000 pounds. An engineer tells you to use wooden 2x10s. It's solid. Very solid. You get curious and test ten samples: they break at over 2,500 pounds. Hey! Sell 2,500 pound bridges for the price of 1,000 pound bridges, get rich!

And it works. You can't say why it works, but you sell ten, twenty, a hundred bridges. Before the day an under-strength beam finds an over-weight load on it, and it collapses. Or perhaps so many over-strained bridges get so saggy that people stop trusting them, and your market inverts.


That's just human nature, to capitalize. In the case of mortgaged-backed securities, leveraging profit was just business as usual.  You could argue that a 1000lb bridge with 2499lb tolerances was merely an undervalued 2300lb bridge or something.   :)

The problem with the 'bubble' and all future bubbles is not the tendency to leverage profits, it's that unforeseen "x" factor, that other, metavariable that arises as a result of pushing or switching known variables beyond their tolerances or intended use in new creative ways. And yet to remove risk entirely is to remove the drive to invest in the first place? Remove the risk of the bridge failing and you lose your investors. I like to think that for every good song with a long view, there was a thousand bad songs it had to stand on to see anything. How disparate the Engineer's exacting design and the money managers' crazy, roiling pot of schemes! They are incomparable in most cases, and yet both are trying to create some grand value out of smaller things that in themselves have little value at all.


sodderboy

Re: Engineers are troublesome 'expert loners' , says prof
« Reply #41 on: November 13, 2009, 08:41:15 PM »
Quote
Quote from: JohnRoberts
When I run out of money like I expect to, I plan to die...I surely don't want to take money from healthy young people to buy me a few weeks in bed.
  :o
That's such a sad thing to say! I would rather you take my money if there is something you can offer on your deathbed that might improve our future... some imparted wisdom or advice.
Usually it is "Rosebud" time during the last three weeks, or hours if you are lucky.  The reality is that people say important things to us all our lives, and we did not hear it.  And when they just want to go in the end, WE want some revelations.
Fact is that we have heard it all already, and "end of life care" is really about how much WE care about someone, and how much WE want to keep them around and not their true wishes- hence the living will for those who choose to write one.

What is this thread all about, anyway?  Hey, how about that international Hubbel Telescope design team!  Good thing there were no "rogue individuals" getting in the way there!
Mike
PS: John, "Die Broke" means that you still have to leave a couple of grand to take care of your cats for a while.

Scodiddly

Re: Engineers are troublesome 'expert loners' , says prof
« Reply #42 on: November 13, 2009, 11:22:24 PM »
PS: John, "Die Broke" means that you still have to leave a couple of grand to take care of your cats for a while.

The cats can eat the corpse - both problems solved!   :P

I'm not real romantic about my still-in-the-future last days too.  Save my schematics, throw my body in a dumpster.

JohnRoberts

Re: Engineers are troublesome 'expert loners' , says prof
« Reply #43 on: November 14, 2009, 09:40:40 AM »
PS: John, "Die Broke" means that you still have to leave a couple of grand to take care of your cats for a while.

The cats can eat the corpse - both problems solved!   :P

I'm not real romantic about my still-in-the-future last days too.  Save my schematics, throw my body in a dumpster.

Cats?? what do you take me for... ?  I don't even have a dog any more, while I miss my last one (RIP Sam).

Compost?

 JR


 

Don't only half-ass tune your drums. Visit https://circularscience.com to hear what properly "cleared" drums sound like.


 

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