Feb

12

A good dessert should be the culmination of an extraordinary meal and heighten the enjoyment with something exciting and pleasurable. I like my desserts at the beginning of a meal on the grounds that if something is good, the time for it is now. But I thought I should test if it works. I looked at all days above 2% from close to 4 pm that added another 1/2% in final 15 minutes. 13 observations. Expectations to the morning were very good, but then a hangover for next day's very bad, down a few percent. Happens once a year, not significant. But what are the best desserts? Where do you get them? Scholars say they should be crunchy, textured, fruity, sauced, stand up well for first several bites, complimentary to meal, varied between hot and cold, sweet and sour. Where, what?


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33 Comments so far

  1. david higgs on February 13, 2009 12:45 am

    Opposites work for me. Hot meal cold dessert, Cold meal hot dessert. Some like gold dust on their dessert, but you won't catch me panning for the stuff in a tidy bowl. But of late a nugget might be had as seen 7 times over the last 14 trading days in gold futures. From the close at 4 pm to the open at 6:30 pm usually following a nice up move that day, the precious metal gaps down several points for a nice little dessert. Not sure what the chef calls it, maybe those with a larger kitchen can…

  2. douglas roberts dimick on February 13, 2009 5:15 am

    Just Desserts?

    The following post today was on my Gmail “algorithm trading” alert:

    Did_Atlas_Shrug?-Digvijay: “VJ” Singh Rathore; Markets, Psychology, Sales, Technology - http://www.linkedin.com/in/digvijaysinghrathore

    Although the post is innocuous, surely it’s an omen to comment on my grazing this past week…

    Here in China, I was remiss not having the opportunity for my first Junta to be the Ayn Rand to-do last week, thus causing me to embark upon a refresher course.

    At youtube.com, the Mike Wallace (1959) and Phil Donahue interviews brought to life my limited, university studies of the novelist’s theory how morality and economics may co-exist as separable components of the American society. In both interviews, Rand appears to maintain this self-claimed Socratic-oriented stance from a doctrinal level; her attributions to love and capitalism seem to be how she evinces – at least to those whom consider themselves to be Objectivists – that Objectivism is an imperative among the intelligentsia.

    I love buffets. Here in Beijing, near Tsinghua University, there is a Mr. Pizza buffet for 39 +10 RMB – right, that is what the sign says (39 RMB +10). I plan to take myself there tomorrow for Valentines Day; this self-aggrandizement shall total 49 RMB.

    Youtube.com is like a buffet… Next to Ayn Rand related videos there are Charlie Rose’s interviews of Milton Friedman.

    The 2005 interview has Friedman commenting on how “we” have been able to do business with Communist China. Herein implied is that with capitalism will come freedom.

    While viewing, all of a sudden, I could not access youtube.com. Was I being blocked – again?

    Do I stop with the self-topping-selected pizza (included in the 39 RMB +10 price) or do I keep pressing on to the Chinese food items?

    Segregation of food is a difficult topic for me, as my mother was a gourmet. Integration of multi-regional dishes can be realized when not rationalized based on economics “but for” the gastronomic protocols of western and eastern cuisines.

    Naturally, while searching Rand, Madoff appears… a headline that his wife withdrew $15m from some fund-related account just before her husband was arrested: http://news.yahoo.com/s/nm/20090211/bs_nm/us_madoff_wife.

    That page led me to a site-related article on some kosher beef company who was raided last year: http://www.iht.com/articles/ap/2008/06/11/america/NA-GEN-US-Kosher-Meat-Prices.php.

    Madoff utilized religion, I so read, to make his scam robust. Yet we find that his Ponzi scheme is not so unique when discussing our social security retirement system. Moreover, his NASDAQ affiliations belie variations of assorted insider-outsider (including IPO and fund-to-fund) industry standards and practices to make (not necessarily earn or invest) money.

    The kosher meat company was founded by a rabbi in New York City; his raided plant was in New Jersey. It was just one of some twelve agriprocessors in the country so investigated and charged relating to immigration violations, which expanded to health and safety violations, which expanded to other areas involving civil and criminal violations – all appearing to have been centered on maximizing profits.

    The amazement attendant with these related news stories seems to be how religiously affiliated individuals and entities demonstrate “immoral” business practices. What about the Grand Inquisitions? How about burning witches at the stake in New England? What about Jimmy Swaggart and Jim and Tammy Faye Bakker? These instances, as are others replete throughout the history of markets, present similar social-economic (order/chaos) systematics.

    Where exactly does the idea of an economic activity begin and end relative to corresponding capital investment, human resources, technology, and rules-based articles, bi-laws, and regulation governing such corresponding enterprise?

    Note: corporate/commercial/quasi-entity formation and existence is a legal process for realization of a nonhuman construct, so defined by the state, which also in of itself is a nonhuman, legal fiction, based on a social contract among one or more classes of people thereby defined as citizenry.

    http://www.youtube.com/watch?v=Zc7oZ9yWqO4 is the Fountainhead - Howard Roark Speech (Ayn Rand). My father was an architect. To the extent that I started from scratch eight years ago to learn how to design, so engineer and construct, and hopefully one-day operate a proprietary program trading system, I too am an architect.

    In China, IPR-related economic issues are moral (and therefore political) issues because of how Confucian concepts parallel what Objectivists would attribute to being violations of natural, human rights by the Collectivists of a society. They would be the Communists.

    Exactly “who” is the society? In China, 5% controls 95%. Again, that would be the Communists; they are the state.

    In the US, the national electorate has followed the thirty-year-plus trending of Maine, whereby independent registered voters collectively outnumber the aggregate amount of registered and enrolled Democrats and Republicans. Yet, as former Maine Governor Angus King (Independent) cited when he was campaigning for now the new administration, the two-party system has erected an electoral framework (or gauntlet) that requires $50m to enable an independent candidate to run for President of The United States – being merely the filing and organizing costs to seek listing on the ballots of all fifty states.

    Part of my reason for living in China, as an American, who has stumbled his way through the US system of education to hold a doctorate of law degree as well as having served in the US Army, is based on the probability that there is no one, purist-like rules-based construct from within which a society may harmoniously operate let alone thrive. With my father and grandfather having fought in the world wars, I did not want to live my life without knowing what was served in the other-side-of-the-table platters of social experiments.

    As individuals may each be individual by definition of law, then so too may be collectives constituting any such related groupings to include legal entities. Thus, if a social contract is made among a defined citizenry, whereby they memorialize an agreement for collective actions to be governed by the majority, how may one claim the “taking” of property, even an idea, perhaps by force, if so voluntarily offered or “placed” commercially for economic gain, whereby it may be then stolen or taxed?

    On campaign trails and in legislative hallways, I found that here is one area that farmers and labor unions so agree upon: “if one does not want to be ruled by a majority, move to an island of one.” Interestingly, in Rand’s case, she moved to America.

    You could see how Mike Wallace’s question on her background fanned the fire (perhaps pain) within Rand when talking about her life in Communist Russia. I still envision her look as she notes that, when someone comes to you talking about what you should do or be for the state, there is no uncertainty that he or she so talking either is or wants to be the state.

    Nearly three years here in China, 100% right, no doubt about it. Enough said.

    However, having now lost an exact accounting of the size of the new administration’s “economic” bailout with “its bankers”, compounded by the prior administration’s “moral” bailout with “its war” on terrorism, I confess to being as confused therewith as pondering whether to lunge from Italian to Chinese variations of what I grew up knowing to be pasta.

    You know what? Here in Beijing, I think this 39 RMB +10 joint (a Korean-owned chain, I am told) uses the same product for both dishes.

    In Maine, we call them noodles… dr

  3. Steve Leslie on February 13, 2009 9:06 am

    I consider myself a "Buffetologist". This is one who is quite adept at eating at buffets. In discussing this with associates who specialize in planning buffets,it is interesting to note how a buffet is planned and laid out in a restaurant. One of my favorite buffets is at the Tides club at Patrick Air Force base just south of Cocoa Beach. They have a wonderful Sunday Champagne brunch. Patrons pay $13.95 Military price.

    A properly constructed one is laid out like a casino.

    The most profitable part of the buffet and least expensive to the company is presented first to the patron. This is the salad and/or the soup bar. It is also the most filling. One will find the salad, toppings, tuna salad, macaroni salad and dressings. Along with the salad bar is the bread.

    Next is the appetizer bar which could include such items as mozzarella sticks, cheeses and other goodies. Smoked salmon strips can also be found.

    A popular feature item here are the custom made omelets. They appear to attract much attention. Also inexpensive from a company's perspective.

    Farther along this line are the entrees. Now we are getting to the true treasure. Hot meals abound including chicken, pork, fish. This is followed by a carving station with ham and roast beef. Tucked away in a corner is the boiled shrimp on ice.

    Farthest back are the desserts. My favorite is the hot apple crust, hot blueberry pie and key lime pie. Ice cream and this completes the experience.

    A "buffetologist" understands that to the extract full value one should reverse the process and begin at the end. This means to start at the entrees, consume the very most expensive items first and finish with the least expensive. In this case it would be the scoop of ice cream. Any other plan diminishes the value and the true quality of the experience.

    Demographically seniors love buffets primarily because of the variety of choice. They are also the least costly from a business perspective since they eat the least and tend to "nibble" rather than consume. Properly motivated a "buffetologist" can destroy the profit margin by targeting his or her approach.

    Correlating this to markets, Good entrees (strong economic data) leads to a good opening hour and a good day. A strong January portends a good year. Conversely a bloated opening eating salads first (bad data) suggest the day will be bad.

    Other thoughts?

  4. Yngwie Malmsteen on February 13, 2009 11:01 am

    Steve Leslie said: “Correlating this to markets, Good entrees (strong economic data) leads to a good opening hour and a good day. A strong January portends a good year. Conversely a bloated opening eating salads first (bad data) suggest the day will be bad.”

    That doesn’t make any sense. If people like Buffets so much, and most people eat the appetizers first, then clearly something is going on that is right i.e. people are being served in a manner that they enjoy and are willing to pay for. But, I suppose you can blather about anything and then say “good = good day in the markets, bad = bad day in the markets”.

    For example, I find this site is most interesting when a well written article if followed up with well written comments, and I find it less interesting when a well written article is followed by totally useless ramblings.

    Correlating that to the market: Threads without Steve Leslie = strong january. On the other hand, bloated threads with Steve Leslie rambling portend a bad day.

  5. Steve Leslie on February 13, 2009 12:43 pm

    If you dont like what I read then don't read it. I don't care one way or another. Vic Niederhoffer sponsors this site not you. He makes the call if I am a useless idiot which I may be not you. Take it up with him. I have been contributing to this site for over 4 years. Where are your posts.

    Perhaps you do not have the intellect to discern the wisdom that I have shared. Maybe you are not very bright. And as a consequence you resort to personal attacks without any original thought. It is a fool who argues with another fool and I will not argue with you.
    And by the way if that is your real name

    it is a ridiculous name. it makes no sense. And I said i start at the entree not the appetizers you fool which shows me you cant read or did not read the full article and appreciate the greatness thereof. or comprehend it which makes u useless.

    Perhaps I am like the great masters of paintings such as Van Gogh or Lautrec whose true genius was not appreciated until they were dead. Or Conpernicus and Galileo. Ever look at it that way? Copernicus proved that the earth was not the center of the universe but his view was so heretical that it was abolished for over 100 years even thought it was proven later to be true.

  6. Ronald Weber on February 13, 2009 1:46 pm

    There are only three places in the world (ex-Japan, which I haven't checked!) you need to know for the essential best "desserts":

    in Paris:
    www.pierreherme.com
    www.laduree.fr

    In Bruxelles:
    www.marcolini.be

    Desserts in the US tend to be too sweet and lack in subtlety, but having said that I admit that I can rarely resist a good cheesecake!

  7. Jayson Blair on February 13, 2009 2:45 pm

    I actually thought this was a reasonably good post from Steve. It’s a topic relevant for everyone, there was no boasting about recent timely buys and sells, and as far as I know it is his original work. (There are other usages on the web of the expression “buffetologist” to mean “expert on buffets”, but I don’t think he was claiming priority on that.) Hats off on this one. Your writing is more interesting when you express your personal point of view rather than quote platitudes or cut and paste from other sources.

  8. david higgs on February 13, 2009 3:16 pm

    The best deserts are those made from the ripe seasonal bounties of good mother Earth. Le Souffle Aux Framboises, it takes a cup and a half of fresh raspberries, frozen just won't do.

  9. Jayson Blair on February 13, 2009 3:28 pm

    Yes, Copernicus was my first thought. He'd head straight for the peel-and-eat while the crowd wasted time with the salad bar and soft serve with rainbow sprinkles.

  10. 5 Easy Pieces on February 13, 2009 4:20 pm

    Yngwie Malmsteen, can you give us some guitar tips please? You are a master musician.

  11. Steve Leslie on February 13, 2009 4:28 pm

    All I can say is I try to use original thought and add something that is for the general good of the website. If I use background material I try to support it with links. Sometimes in my research, the information I glean will seep into my writing. Even the great Martin Luther King Jr. and Shakespeare were accused of plagiarism. Not to mention our current President Barack Obama who extracted material from the Governor of Mass speeches. So maybe I am in good company. And when you think of it listen to a politician sometime does anyone else find it curious that each party uses the same talking points. I swear I did not know that buffetologist appears in other venues. I know that those who follow the work of Warren Buffet claim that distinction but I am using it in a gastronomical reference. Thank You for pointing that out. I would use the term "Italian Stallion" but I already know that has been used. Interesting note. Michael Buffer has exclusive rights to "Let's get ready to rumble!" And Pat Riley of the Los Angeles Lakers has the rights to "Three-Peat". The King Foundation has rights to Dr. King's "I have a dream" speech. I leave you with a quote from my favorite person of the 20th century and one of our top Presidents of all time. Theodore Roosevelt "It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." "Citizenship in a Republic," Speech at the Sorbonne, Paris, April 23, 1910

  12. Gary Rogan on February 13, 2009 5:43 pm

    It’s interesting to imagine what would happen if one were to open a restaurant called “Warren’s Buffet” in Omaha, Nebraska.

  13. Rocky Humbert on February 13, 2009 5:50 pm

    SL:
    I find your post(s) to be among the more interesting and provocative…. but it’s never a good idea to argue (or have tea) with anyone whose name has a disconcerting number of consecutive consonants.

    As to whether you aspire to be the next Van Gogh, Copernicus or Galileo, I suggest you start with a more appropos role model: Herb Macdonald
    http://en.wikipedia.org/wiki/Buffet#20th_century

    Also, William Pearson’s 1965 novel “The Muses of Ruin,” compares the all-you-can-eat buffet to the Great Pyramids of Egypt. Truly a meal for a lifetime! ;)

  14. Matt Johnson on February 13, 2009 6:49 pm

    Yep, ‘thusters’ on the close, it’s the best way to end a long day…

  15. Yngwie Malmsteen on February 13, 2009 7:09 pm

    Steve, what do you mean that my name makes no sense? How does your name make more sense than mine? Are you aware that there are people outside of the United States? Or am I just missing your genius in that comment?

  16. Paolo Pezzutti on February 13, 2009 10:47 pm

    It should be quantified and tested that "Good entrees (strong economic data) lead to a good opening hour and a good day". Is it true? And under which conditions?
    Normally I fade a good open. Maybe because I do not like entrees and prefer starting with pasta as my main course. That is like waiting for a directional impulse in the market action and buying the pullback.

  17. George Parkanyi on February 13, 2009 10:55 pm

    Geez, If you think Steve's stuff is bad, you should read my crap.

  18. Steve Leslie on February 14, 2009 1:50 am

    I am more like Norm MacDonald than Herb. But I had never heard of the man incredible that you found that gem in Wikipedia. Great catch! As far as my aspirings, at my age, I read the paper just to see if I showed up in the obits. If I am not there, I consider it a good day. I suspect upon my demise, I shall be remembered for about 10 days and then completely forgotten. Douglas MacArthur said old soldiers should just fade away. I shall say it again, as far as contributors to this website we are blessed with some truly good and great people with magnificent insights I would like to note Scott Brooks, Alan Milhone, Dr. Janice Dorn, Prof. Marion Dreyfus, Stefan Jovanovich, Vic and Laurel, Dr. Zussman, Doc Castaldo, Dr. Goulston, GM Nigel Davies, Laurence Glazier, Prof. Haave, Larry Williams, Dr. Ric Miller, Jim Rogers and many many more. I am insignificant next to these. Rocky and esp George you guys kill me I lmao on your two posts. Thanks sincerely, Nothing personal, Yngwie but I do note that your true name is different from your professional name. http://en.wikipedia.org/wiki/Yngwie_Malmsteen I guess, I will never be famous enough to have another name. And I do encourage you to contribute an original post on music and its relationship to markets. I understand that Renaissance Technologies uses music theory extensively in their trading. Perhaps you would like to chime in — no pun intended. Respectfully submitted, sl.

  19. Steve Leslie on February 14, 2009 8:53 am

    I omitted Jim Sogi, esq. from my list. My apologies to the very brilliant barrister. Speaking of desserts, The true desserts in life are children. They are the last perfect creation on this planet. Imagine the most perfect orchid you can, combine it with the freshest rose you have ever smelled, the sweetest chocolate you have ever tasted, the finest wine you have drunk, the most succulent meal, the most brilliant symphony you have heard, the softest fur you have ever touched, raise it all exponentially and you come up with a child. My father, G_d rest his soul, used to say "You have to have a reason for getting up in the morning. Children give you that reason." Here is to all the children in the world. Happy Valentine's Day to all, sl.

  20. Marty King on February 14, 2009 8:05 pm

    Yes, it is the children that are the greatest gift of all. Money isn’t everything. Let me quote a few verses from some classic songs:

    “I believe the children are the future; teach them well and let them lead the way. Show them all the beauty they possess inside. Give them a sense of pride to make it easier; Let the children’s laughter remind us what we used to be.”

    and from Michael Jackson:

    “We are the world, we are the children
    We are the ones who make a brighter day
    So lets start giving.”

  21. W. Shakespeare on February 14, 2009 8:23 pm

    “Imagine the most perfect orchid you can, combine it with the freshest rose you have ever smelled, the sweetest chocolate you have ever tasted, the finest wine you have drunk, the most succulent meal, the most brilliant symphony you have heard, the softest fur you have ever touched.”

    Yikes!

  22. jeff watson on February 14, 2009 10:18 pm

    Steve,
    On our side of Florida, those all you can eat Oriental Buffets are sprouting up like mushrooms on a dead log. Charging a fixed price, their profit margins have to be extremely high as the food seems to be recycled with very little waste. Plus, their labor costs are generally lower as they employ the entire family. Our seasoned citizens seem to all buffets during the early bird specials, especially with coupons or AARP discount. My idea of heaven would be a BBQ buffet complete with all the good Southern side dishes.

    Jeff

  23. Steve Leslie on February 15, 2009 3:30 am

    Southern style bbq buffets – you are defiitely on to something. That is brilliant. We have something like that, Piccadilly Buffet, but itis not all you can eat ,it is a ala carte and the food is not that good. I like Warrens' Buffet, that was very original. Bloggers who don't use their real names are useless blobs on the planet. Unfortunately this website has been invaded by such a coward in W. Shakespeare. They don't have the courage to take the heat and use a real name. It is a real shame because they putrify an otherwise great website. I just wish some others see the insult that is directed to the hosts Dr. Niederhoffer and Ms. Kenner and were similarly outraged as I. And spoke out. Maybe they just don't care. And editorially anyone who would corrupt what I wrote to describe a child is a real head case. You really have something to be proud of. Yes indeed. And by the way that is sarcasm. You probaably subscribe to Hustler magazine. Why not just go away and go to Craigslist and be a vagrant there?

  24. Rocky Humbert on February 15, 2009 11:42 am

    Jeff,

    Here's a good web page that lists BBQ buffets in the Northeast. This site has some useful B.S. (buffet strategies) and etiquette as well …

    For example:
    1) Don't push, don't shove, don't spit, don't use your fingers at the buffet.
    2) Don't use tongs from one tray to reach into another. It particularly upsets the vegetarians at a BBQ.
    3) If there are only tworibs left and there's a sad looking fat guy in line who looks like he wants one, take one and leave him one.

  25. d.r.dimick on February 15, 2009 12:25 pm

    Reflective of this line of commentary, I wonder how one would quantify trending of types and availability of buffets while he accounted for deviations in economic and market conditions?

  26. d.r.dimick on February 15, 2009 12:26 pm

    As I once suggested in a commentary… A group of da-spec-o-la-tors - new word to represent authors and commentators of this site (?) - should collaborate to publish a collection, literary montage, body of works …as you will… originally presented here.

  27. admiral on February 15, 2009 12:38 pm

    This is a test.

  28. d.r.dimick on February 15, 2009 12:51 pm

    Clearly, as Steve so comments on February 14, there are minds and voices here worthy of such a presentment.

  29. Ken Drees on February 15, 2009 1:45 pm

    There seems to be a “food fight” at the buffet.

    What came to mind when I think of a buffet is the “China Buffet”. Its a type of restaurant that has a buffet style going all the time. The ads for this restaurant always talk up the shrimp and crab legs–all you can eat. Somehow I don’t remember the desserts as being impressive at this type of eating place.

    On a couple of occasions, wrestlers (high school and hungry) would invade the buffet and just kill it–eating all the high end seafood and meat dishes. This would usually result in complaints from the rest of the patrons as the management would be quite slow in bringing out replacement dishes. Eventually there would be a confrontation or discussion between a manager and the offending table of hungry elephants. You would watch this from your booth across the room, the manager pointing to the crableg discard pile in front of one husky teenager–and then the manager pointing in the direction of the empty seafood area of the buffet.

    In markets when the trading seems quite regular and the volumes are normal and I can take my “meals” at normal intervals because the chart resistances are working and the support zones are holding its like everyone is enjoying their own little buffet.

    We all are regular patrons enjoying our own little indulgences then the door opens and in walks a gang of big guys. And they start massing around the buffet and then plates start getting piled and the feast begins. Volumes swell, heavy blocks taken right on the offers–then after lots of action and resistances having been broken the manager comes out from the back and a big scary offer hangs out there like a smirking teenager — “what are you going to do about it, its all you can eat, right?”.

    Then the kids leave, too stuffed on protein to bother with dessert, then things settle down and new dishes are brought out. People just now coming through the door for a meal don’t know what had gone on before unless they overhear the servers talking about it near the hostess station.

    Ahh, back to normal.

  30. Jayson Blair on February 16, 2009 6:32 pm

    Wow, only on dailyspec! Only on dailyspec will you find buffet tips compared with Copernicus…”Let’s Get Ready to Rumble” compared with plagiarism…

  31. Gary Rogan on February 17, 2009 9:55 pm

    It seems like this thread completely deviated from Victor’s original intent. Let me pose a completely untested theory that could apply to the markets: a pleasant but not an overly-filling meal is more likely to be followed by dessert than any other meal. If you’re disappointed by the meal, you’re not likely to order dessert from the same place. Similarly, if you’ve just had too much to eat, you’re not in the mood for dessert either. Could that mean that a significant but not outrageous, steadily rising (after some possible gap at the open) trend is more likely to be followed by an end of a session jump than any other formation?

  32. diego joachin on February 19, 2009 9:41 am

    Either at the beginning or at the end, I like them leveraged; but it is too dangerous, so most of the time diet (risk management) is what keeps me alive.

  33. douglas roberts dimick on February 20, 2009 2:52 pm

    Fyi…

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