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	<title>Daily Speculations</title>
	<link>http://www.dailyspeculations.com/wordpress</link>
	<description>THE WEB SITE OF VICTOR NIEDERHOFFER: DEDICATED TO VALUE CREATION, BALLYHOO DEFLATION AND APPLYING THE SCIENTIFIC METHOD IN FINANCE</description>
	<pubDate>Tue, 15 May 2012 23:11:08 +0000</pubDate>
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		<title>A Favored Firm, from Laurel Kenner</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7360</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7360#comments</comments>
		<pubDate>Tue, 15 May 2012 22:49:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Laurel Kenner</category>
	<category>Orson Terrill</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7360</guid>
		<description><![CDATA[Despite the TV poli-drama, a $2 billion loss carries absolutely no significance to Chase given the size of its asset base. It could be looked at as a rounding error.

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		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7360</wfw:commentRSS>
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		<item>
		<title>Mother&#8217;s Day 2012, from Laurel Kenner</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7359</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7359#comments</comments>
		<pubDate>Mon, 14 May 2012 12:37:48 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Laurel Kenner</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7359</guid>
		<description><![CDATA[Being a mother is the greatest blessing of my life. (And with a son like A____y, I am grateful every day to be part of a bright new life.) One of motherhood&#8217;s great gifts is to draw out all the knowledge and wisdom learned from my own mother and grandmothers. Here is a very small [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7359</wfw:commentRSS>
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		<item>
		<title>Article of the Day, from Steve Ellison</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7358</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7358#comments</comments>
		<pubDate>Mon, 14 May 2012 07:31:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Steve Ellison</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7358</guid>
		<description><![CDATA[Wondering what the statisticians on Dailyspec think of this Atlantic article &#34;When Correllation is not Causation but Something Much More Screwy&#34; :
One of [UCLA professor Judas] Pearl&#39;s most interesting deductions is the idea of conditioning on a collider. If a case being observed is a function of two variables then this will induce an artifactual [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7358</wfw:commentRSS>
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		<item>
		<title>Carroll Shelby RIP, from Jim Lackey</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7357</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7357#comments</comments>
		<pubDate>Mon, 14 May 2012 07:26:47 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>James Lackey</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7357</guid>
		<description><![CDATA[My first memory of a car that I wanted to see as a pre-school kid was the Shelby Daytona Coupe race car.
That is one of the most beautiful race cars ever built.

Dad had a drag car so naturally I became a drag racing fan. Any kid in middle school would tout the quickest production car, [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7357</wfw:commentRSS>
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		<item>
		<title>What&#8217;s in a Name, from George Parkanyi</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7356</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7356#comments</comments>
		<pubDate>Mon, 14 May 2012 07:16:21 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>George Parkanyi</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7356</guid>
		<description><![CDATA[What&#39;s in a name?
A lot more than I expected.
I&#39;ve led a charmed life. I was born in Budapest, Hungary into a revolution in 1956. My parents, at great risk, took me away to safety from an oppressive system, and had to start their lives again from scratch in a strange land in a new language, [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7356</wfw:commentRSS>
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		<item>
		<title>Mick Taylor, from Edward Talisse</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7355</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7355#comments</comments>
		<pubDate>Mon, 14 May 2012 07:10:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Edward Talisse</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7355</guid>
		<description><![CDATA[I saw Mick Taylor play at a small club in NYC last night. He is 63 years old. Rolling Stones aficionados know that the Stones most artistic and prolific years were during Taylor&#39;s tenure as the Stones second guitarist. The output during his Stones&#39; years 1969 through 1973 include legendary tracks off Sticky Fingers and [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7355</wfw:commentRSS>
		</item>
		<item>
		<title>Jiro Dreams of Sushi, from Laurel Kenner</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7354</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7354#comments</comments>
		<pubDate>Mon, 14 May 2012 07:07:27 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Laurel Kenner</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7354</guid>
		<description><![CDATA[I saw the movie Jiro and was very moved by the idea of shokunin, which I understood to be humbly doing the same work day after day and always trying improve on it. We had written about it in our book. I also was touched by the father-son dynamic &#8212; the father&#39;s care in training [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7354</wfw:commentRSS>
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		<item>
		<title>David Ricardo, from Stefan Jovanovich</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7361</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7361#comments</comments>
		<pubDate>Sun, 13 May 2012 22:37:21 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Stefan Jovanovich</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7361</guid>
		<description><![CDATA[I have been reading a memoir about David Ricardo, and researching the details of his life. Here are some interesting things I have learned:
Ricardo destined for the same line of business as his father; and received, partly in England, and partly at a school in Holland, where he resided two years, such an education as [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7361</wfw:commentRSS>
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		<item>
		<title>Fun Facts about JP Morgan, from Gary Rogan</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7353</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7353#comments</comments>
		<pubDate>Fri, 11 May 2012 15:04:46 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Other Contributors</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7353</guid>
		<description><![CDATA[There are some fun &#34;facts&#34; and observations in the JPM 2011 Annual Report:

p. 159: Chief Investment Office (&#34;CIO&#34;) VaR in 2011: Avg: 57 Min: 30 Max: 80
(That&#39;s $mil)
On p 108, Treasury and CIO (together, whatever that means)

Security gains: in 2011, 2010, 2009 $ 1,385 2,897 1,147
Avg Portfolio: $ 330,885 323,673 324,037

So supposedly they had 57 [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7353</wfw:commentRSS>
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		<item>
		<title>Why is Jamie Dimon Treated With Kid Gloves? from Dan Grossman</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7352</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7352#comments</comments>
		<pubDate>Fri, 11 May 2012 14:17:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Laurel Kenner</category>
	<category>Dan Grossman</category>
	<category>Rocky Humbert</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7352</guid>
		<description><![CDATA[I&#39;m wondering why Jamie Dimon is so popular with the media.
He&#39;s always treated with kid gloves.
Even today&#39;s $2 billion was referred to as a &#34;rare black eye&#34;.
Is he married to a black woman? Or gay?
Or have some other fact in his background that leads to his being treated as such a good guy?
I&#39;m so out [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7352</wfw:commentRSS>
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		<item>
		<title>Trends, from Jim Sogi</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7351</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7351#comments</comments>
		<pubDate>Fri, 11 May 2012 14:12:13 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>James Sogi</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7351</guid>
		<description><![CDATA[This winter it didn&#39;t rain here for nearly four months or more. Everything was dry, crispy brown. About a week ago it started to rain, and its rained almost everyday. Surprising how a big complex system such as weather can run such a long trend of just one pattern with almost no variation. Even random [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7351</wfw:commentRSS>
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		<title>Golfing Rules, from Jeff Watson</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7350</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7350#comments</comments>
		<pubDate>Wed, 09 May 2012 07:41:34 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Jeff Watson</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7350</guid>
		<description><![CDATA[I&#39;ve been playing a lot of cash golf recently, with mixed results, and need to offer a few rules to help protect your bankroll in cash games.
1. Never play against a guy who is older, real tanned, friendly, and laid back. (If someone offers to carry your clubs from your car&#8230;run away)
2. Never believe a [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7350</wfw:commentRSS>
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		<title>Getting Into Tea, from Bruno Ombreux</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7349</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7349#comments</comments>
		<pubDate>Wed, 09 May 2012 07:39:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Bruno Ombreux</category>
	<category>Leo Jia</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7349</guid>
		<description><![CDATA[I have recently started to get into tea. I bought a few yixing pots and I am doing the whole gongfu cha thing.
This is a very interesting area, because tea is even more complex than wine. I am getting used to it, but I just read something which is so funny and serious at the [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7349</wfw:commentRSS>
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		<item>
		<title>Position Fishing, from Duncan Coker</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7348</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7348#comments</comments>
		<pubDate>Wed, 09 May 2012 07:34:50 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Duncan Coker</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7348</guid>
		<description><![CDATA[It is often the case that I prefer position fishing to position trading, though the two are not mutually exclusive. Regarding the prior, I enjoy fly fishing on rivers and streams. Current relates closely to positioning on a river. The ideal is directly across from the trout, but not too close. From there I cast [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7348</wfw:commentRSS>
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		<item>
		<title>The Upas Tree, from Victor Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7329</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7329#comments</comments>
		<pubDate>Tue, 08 May 2012 07:30:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Tim Melvin</category>
	<category>Gary Rogan</category>
	<category>Steve Ellison</category>
	<category>Laurel Kenner</category>
	<category>Kurt Specht</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7329</guid>
		<description><![CDATA[The Upas tree was a terrible tree according to Erasmus Darwin that was so poisonous that it was able to destroy all life of any kind for 15 miles around it. Who and what are the Upas trees of the market?
I would say that Madoff and Abelson and the conglomerates and real estate slumps are [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7329</wfw:commentRSS>
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		<title>The Speed Gene‏, from Pitt T. Maner III</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7346</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7346#comments</comments>
		<pubDate>Mon, 07 May 2012 13:58:10 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Pitt T. Maner III</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7346</guid>
		<description><![CDATA[This is an interesting article on the genetic testing of horses&#8211;trying to find the next Kentucky Derby winner.
The latest trend among consultants to horse buyers and breeders is to rely on algorithms involving a &#34;speed gene&#34; and other markers, not just x-rays and endoscopes.
]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7346</wfw:commentRSS>
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		<item>
		<title>Walking, from James Sogi</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7345</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7345#comments</comments>
		<pubDate>Mon, 07 May 2012 13:56:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Alan Millhone</category>
	<category>James Sogi</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7345</guid>
		<description><![CDATA[Walking is one of the best forms of exercise. Better yet is walking uphill which causes higher cardio rates, and even better yet is climbing up mountains. Running seems to cause many injuries. The recent book, Born to Run, is an interesting look into running injuries caused by modern running shoes.
There is a move to [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=7345</wfw:commentRSS>
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		<item>
		<title>On Abolishment of Government Statistics, from Gary Rogan</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7344</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7344#comments</comments>
		<pubDate>Mon, 07 May 2012 13:54:06 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Gary Rogan</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7344</guid>
		<description><![CDATA[Aggregates and Averages, Individuality and Interventionists
By Stephen Mauzy
&#160;

John Cowperthwaite, financial secretary of Hong Kong from 1961 to 1971, was the rare bureaucrat: a free-market noninterventionist inured against the hubris of grand economic scheming.
Cowperthwaite ventured into Hong Kong in 1941, joining the colonial administrative service after studying economics at Cambridge. Returning to Hong Kong, in 1945, [...]]]></description>
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		<item>
		<title>&#8220;Things Lived On Each Other&#8221;‏, from Art Cooper</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7343</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7343#comments</comments>
		<pubDate>Mon, 07 May 2012 13:49:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Arthur Cooper</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7343</guid>
		<description><![CDATA[Many of the themes Vic hits strongly on in his posts about how the financial markets are fed by money supplied by the public, which ends up in the pockets of the flexions &#8212; and many others &#8212; are driven home in the article, &#34;A Life Driven by Desire,&#34; on p C13 of today&#39;s WSJ.
The [...]]]></description>
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		<item>
		<title>Muscle Suit, by Ken Drees</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=7342</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=7342#comments</comments>
		<pubDate>Mon, 07 May 2012 13:47:44 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
	<category>Ken Drees</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=7342</guid>
		<description><![CDATA[Maybe a financial version of this lifted the Nikkei to 10k? Is a stock or an index heavier/harder to move higher at retrospect lows, mid points or tops? What is heaviness in terms of financial prices at lows, inertia? Is weight in financial terms of stock movement a correct way to view? Are stock prices [...]]]></description>
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