Day: April 13, 2015

What does that mean for God?

Post author By Raoji
Post date April 13, 2015
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In 2010, Ali al-Naimi, Saudi Arabia’s petroleum minister and the world’s de facto energy czar escorted Chu to visit King Abdullah at his palace in the desert oasis of Rawdhat Khuraim. The elderly monarch was in a philosophical mood and took the opportunity to pose a few questions to the Nobel laureate physicist, says US Ambassador Smith, who went along for the visit.

“Tell me how the universe was formed,” the king asked, in Smith’s recounting. Chu patiently laid out the story of the Big Bang theory. “What does that mean for God?” the monarch said. Chu and Smith conferred for a moment on an appropriate, diplomatic response. “There are some things we know, and for other things, we have God,” Chu replied.-from NYTimes

Music

Cultural performance at Hanover

Post author By Raoji
Post date April 13, 2015
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Mindblowing performance at the Inaugural Session of the Hanover Messe.Especially loved the ending.

Tweets

Is studying Buffett a waste of time?

Post author By Raoji
Post date April 13, 2015
2 Comments on Is studying Buffett a waste of time?

Philosophical question: pic.twitter.com/XqulO4QhHm

— Samir Arora (@Iamsamirarora) April 13, 2015

Excerpts

A powerful lesson for investors

Post author By Raoji
Post date April 13, 2015
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Mr. Grantham heard a pitch for American Raceways, a company that was going to introduce Formula One racing in the U.S. “I got hooked,” he says. “We thought we would make money beyond our dreams.”

Mr. Grantham bought 300 shares for himself at $7 and went on vacation to Germany with his wife. When they came home three weeks later, the stock was at $21. He sold everything else he had, borrowed more money and soon owned 900 shares. Months later, American Raceways hit $100. “I figured I had the golden touch.” Were millions of dollars to come?

But the stock began tumbling. It dropped more each day, torturing Mr. Grantham. Americans weren’t ready to embrace Formula One racing after all.

The stock went down so fast that Mr. Grantham worried he wouldn’t be able to pay back his lenders. He managed to exit the position with just enough money to pay his debt.

THE LESSON: “I realized investing wasn’t a game,” says Mr. Grantham. “I swore off speculation for life. I became a cautious, value investor.” (Meanwhile, as the couple’s net worth soared and then plunged, Mr. Grantham’s wife refrained from pointing the finger at him—another “powerful lesson,” this time in the importance of marrying the right person, he says.)-from WSJ