Warren Burger on Self-Restraint

In PAPISH v. BOARD OF CURATORS OF THE UNIVERSITY OF MISSOURI ET AL. (1973), a case about the limits of free speech on campus, Justice Warren Burger dissented. His dissent advocates self-restraint as a core American value:

In theory, at least, a university is not merely an arena for the discussion of ideas by students and faculty; it is also an institution where individuals learn to express themselves in acceptable, civil terms. We provide that environment to the end that students may learn the self-restraint necessary to the functioning of a civilized society and understand the need for those external restraints to which we must all submit if group existence is to be tolerable.

http://www.law.umkc.edu/faculty/projects/ftrials/firstamendment/papish.html

Are You Rich?

Are you rich? It depends on where you live:

http://www.usnews.com/articles/business/your-money/2008/10/09/what-it-takes-to-be-rich--where-you-live.html

The problem is, the numbers represent an average, not a median, which reduces their relevance. On the bright side, there are lots of lovely numbers for stat geeks like myself.

National Geographic on Iran: "Knowledge of self is knowledge of God"

National Geographic has an interesting article on Iran and its past:

http://ngm.nationalgeographic.com/2008/08/iran-archaeology/del-giudice-text

They like to say, for instance, that when invaders came to Iran, the Iranians did not become the invaders; the invaders became Iranians. Their conquerors were said to have "gone Persian," like Alexander [the Great], who, after laying waste to the administrative practices, took a Persian wife to do the same in a mass wedding. Iranians seem particularly proud of their capacity to get along with others by assimilating compatible aspects of the invaders' ways without surrendering their own - a cultural elasticity that is at the heart of their Persian identity.

The author, Marguerite Del Giudice, really did her homework--it's very hard to define words that have no direct translation in English, but she aptly defines the word, "taarof," which means "fighting for the lower hand." To understand this word provides substantial insight into Persian culture. The article also lists the best Persian poets: Rumi, Sa‘id, Omar Khayyám, and Hāfez .

Thanks to Alison Bryan for the tip (August 31, 2008 posting):

http://www.alisonbryan.com/blog/

Bear Markets

© Wall Street Journal

Market Gyrations

I sold off several positions on Tuesday. I wanted to do a stocks update, but I am in the middle of trial prep, so I will offer only my remaining open positions over 2,000 dollars:

EMC
EZU
PFF
SWZ
YHOO

My biggest loser thus far? Yahoo (YHOO). Unfortunately, I continued to average down, and my average buy price is around 18. The lesson? Never catch a falling knife, no matter how cheap the stock seems.

David Brooks on the Stimulus Package

In yesterday’s New York Times, David Brooks says the stimulus plan didn’t work:

It was a failure, because “people spent only 10 percent to 20 percent of the rebate dollars and saved the rest...Martin Feldstein of Harvard calculates the package added 80 billion to the national debt while producing less than 20 billion in consumer spending.”

More evidence the phrase, "We're the government, and we're here to help you," should inspire automatic fear.

NBA Layoffs

You know the economy is bad when the NBA starts laying off people:

http://sports.yahoo.com/nba/news?slug=ap-nba-jobcuts

The NBA, like most other major American businesses, is focusing on international expansion. Maybe Hamed Haddadi can help them out...

Update: Check out this post on Don Nelson and Corey Maggette if you're a Golden State Warriors fan:

http://willworkforjustice.blogspot.com/2008/12/basketball-don-nelson.html