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Javier E

Male Stock Analysts With 'Dominant' Faces Get More Information-and Have Better Forecast... - 0 views

  • “People form impressions after extremely brief exposure to faces—within a hundred milliseconds,” says Alexander Todorov, a behavioral-science professor at the University of Chicago Booth School of Business. “They take actions based on those impressions,”
  • Analyst accuracy was determined by comparing each analyst’s prediction error—the difference between their prediction and the actual earnings—with that of all analysts for that same company and quarter.
  • Prof. Teoh and her fellow researchers analyzed the facial traits of nearly 800 U.S. sell-side stock financial analysts working between January 1990 and December 2017 who also had a LinkedIn profile photo as of 2018. They pulled their sample of analysts from Thomson Reuters and the firms they covered from the merged Center for Research in Security Prices and Compustat, a database of financial, statistical and market information
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  • The researchers used facial-recognition software to map out specific points on a person’s face, then applied machine-learning algorithms to the facial points to obtain empirical measures for three key face impressions—trustworthiness, dominance and attractiveness.  
  • They examined the association of these impressions with the accuracy of analysts’ quarterly forecasts, drawn from the Institutional Brokers Estimate System
  • . Under most circumstances, such quick impressions aren’t accurate and shouldn’t be trusted, he says.
  • For an average stock valued at $100, Prof. Teoh says, analysts ranked as looking most trustworthy were 25 cents more accurate in earnings-per-share forecasts than the analysts who were ranked as looking least trustworthy
  • Similarly, most-dominant-looking analysts were 52 cents more accurate in their EPS forecast than least-dominant-looking analysts.
  • The relation between a dominant face and accuracy, meanwhile, was significant before and after the regulation was enacted, the analysts say. This suggests that dominant-looking male analysts are always able to obtain information,
  • While forecasts of female analysts regardless of facial characteristics were on average more accurate than those of their male counterparts, the forecasts of women who were seen as more-dominant-looking were significantly less accurate than their male counterparts.  
  • Says Prof. Todorov: “Women who look dominant are more likely to be viewed negatively because it goes against the cultural stereotype.
Javier E

Russia's Move Into Ukraine Said to Be Born in Shadows - NYTimes.com - 0 views

  • the Kremlin’s strategy emerged haphazardly, even misleadingly, over a tense and momentous week, as an emotional Mr. Putin acted out of what the officials described as a deep sense of betrayal and grievance, especially toward the United States and Europe.
  • Some of those decisions, particularly the one to invade Crimea, then took on a life of their own, analysts said, unleashing a wave of nationalistic fervor for the peninsula’s reunification with Russia that the Kremlin has so far proved unwilling, or perhaps unable, to tamp down.
  • The decision to invade Crimea, the officials and analysts said, was made not by the national security council but in secret among a smaller and shrinking circle of Mr. Putin’s closest and most trusted aides. The group excluded senior officials from the Ministry of Foreign Affairs or the cadre of comparatively liberal advisers who might have foreseen the economic impact and potential consequences of American and European sanctions.
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  • Mr. Putin’s decisions since the crisis began reflect instincts, political skills and emotions that have characterized his 14 years as Russia’s paramount leader, including a penchant for secrecy, loyalty and respect, for him and for Russia. They also suggest a deepening frustration with other world leaders that has left him impervious to threats of sanctions or international isolation
  • Because of Mr. Putin’s centralized authority, Russia’s policies and actions in moments of crisis can appear confused or hesitant until Mr. Putin himself decides on a course of action
  • Mr. Putin, by his own account at a news conference on Tuesday, warned Mr. Yanukovych not to withdraw the government’s security forces from Kiev, one of the demands of the agreement being negotiated.
  • By the next day, however, Ukraine’s Parliament had stripped Mr. Yanukovych of his powers, voted to release the opposition leader Yulia V. Tymoshenko from prison and scheduled new presidential elections. Russia’s initial response was muted, but officials have since said that Mr. Putin fumed that the Europeans who had mediated the agreement did nothing to enforce it.
  • The group, the officials and analysts said, included Sergei B. Ivanov, Mr. Putin’s chief of staff; Nikolai P. Patrushev, the secretary of the security council; and Aleksandr V. Bortnikov, the director of the Federal Security Service. All are veterans of the K.G.B., specifically colleagues of Mr. Putin’s when he served in the organization in Leningrad, now St. Petersburg, during the 1970s and ’80s.
  • “He has bit by bit winnowed out the people who challenged his worldview,” Mr. Galeotti said.
  • The deployment of the Russian forces — which the Ukrainian government has said ranged from 6,000 to 15,000 troops — remains a covert operation, the officials and analysts said, to sidestep international law and the need for approval by the United Nations Security Council, something that Mr. Putin and others have repeatedly insisted was necessary for any military operations against another country.
  • As long ago as 2008, when NATO leaders met in Bucharest to consider whether to invite Ukraine to begin moving toward membership, Mr. Putin bluntly warned that such membership would be unacceptable to Russia, presaging the strategy that appears to be unfolding now.
nataliedepaulo1

In 'Science,' Obama Argues Trump Can't Undo the Clean-Energy Revolution - The Atlantic - 0 views

  • Obama in Science: The Renewable Revolution Will Outlast Trump
  • For the past five years, solar and wind energy have exploded in popularity in the  United States. Since the election of Donald Trump, energy analysts have been trying to figure out if that trend will continue.
  • Some analysts argue that the trend is irreversible. The cost of solar and wind power are falling so fast that they will soon beat fossil fuels on price alone, regardless of what the federal government does. Since 2008, the price per watt of utility-scale solar energy has fallen by 64 percent. Even Walmart puts solar panels on its roofs now.
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  • As Obama leaves office, he is communicating his message about the inevitability of clean energy again. Millions of Americans—including the more than 700,000 employed in the renewable-energy industry—are hoping he is right.
Javier E

The View from Nowhere: Questions and Answers » Pressthink - 2 views

  • In pro journalism, American style, the View from Nowhere is a bid for trust that advertises the viewlessness of the news producer. Frequently it places the journalist between polarized extremes, and calls that neither-nor position “impartial.” Second, it’s a means of defense against a style of criticism that is fully anticipated: charges of bias originating in partisan politics and the two-party system. Third: it’s an attempt to secure a kind of universal legitimacy that is implicitly denied to those who stake out positions or betray a point of view. American journalists have almost a lust for the View from Nowhere because they think it has more authority than any other possible stance.
  • Who gets credit for the phrase, “view from nowhere?” # A. The philosopher Thomas Nagel, who wrote a very important book with that title.
  • Q. What does it say? # A. It says that human beings are, in fact, capable of stepping back from their position to gain an enlarged understanding, which includes the more limited view they had before the step back. Think of the cinema: when the camera pulls back to reveal where a character had been standing and shows us a fuller tableau. To Nagel, objectivity is that kind of motion. We try to “transcend our particular viewpoint and develop an expanded consciousness that takes in the world more fully.” #
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  • But there are limits to this motion. We can’t transcend all our starting points. No matter how far it pulls back the camera is still occupying a position. We can’t actually take the “view from nowhere,” but this doesn’t mean that objectivity is a lie or an illusion. Our ability to step back and the fact that there are limits to it– both are real. And realism demands that we acknowledge both.
  • Q. So is objectivity a myth… or not? # A. One of the many interesting things Nagel says in that book is that “objectivity is both underrated and overrated, sometimes by the same persons.” It’s underrated by those who scoff at it as a myth. It is overrated by people who think it can replace the view from somewhere or transcend the human subject. It can’t.
  • When MSNBC suspends Keith Olbermann for donating without company permission to candidates he supports– that’s dumb. When NPR forbids its “news analysts” from expressing a view on matters they are empowered to analyze– that’s dumb. When reporters have to “launder” their views by putting them in the mouths of think tank experts: dumb. When editors at the Washington Post decline even to investigate whether the size of rallies on the Mall can be reliably estimated because they want to avoid charges of “leaning one way or the other,” as one of them recently put it, that is dumb. When CNN thinks that, because it’s not MSNBC and it’s not Fox, it’s the only the “real news network” on cable, CNN is being dumb about itself.
  • Let some in the press continue on with the mask of impartiality, which has advantages for cultivating sources and soothing advertisers. Let others experiment with transparency as the basis for trust. When you click on their by-line it takes you to a disclosure page where there is a bio, a kind of mission statement, and a creative attempt to say: here’s where I’m coming from (one example) along with campaign contributions, any affiliations or memberships, and–I’m just speculating now–a list of heroes and villains, or major influences, along with an archive of the work, plus anything else that might assist the user in placing this person on the user’s mattering map.
  • if objectivity means trying to ground truth claims in verifiable facts, I am definitely for that. If it means there’s a “hard” reality out there that exists beyond any of our descriptions of it, sign me up. If objectivity is the requirement to acknowledge what is, regardless of whether we want it to be that way, then I want journalists who can be objective in that sense.
  • If it means trying to see things in that fuller perspective Thomas Nagel talked about–pulling the camera back, revealing our previous position as only one of many–I second the motion. If it means the struggle to get beyond the limited perspective that our experience and upbringing afford us… yeah, we need more of that, not less. I think there is value in acts of description that do not attempt to say whether the thing described is good or bad
  • I think we are in the midst of shift in the system by which trust is sustained in professional journalism. David Weinberger tried to capture it with his phrase: transparency is the new objectivity. My version of that: it’s easier to trust in “here’s where I’m coming from” than the View from Nowhere. These are two different ways of bidding for the confidence of the users.
  • In the newer way, the logic is different. “Look, I’m not going to pretend that I have no view. Instead, I am going to level with you about where I’m coming from on this. So factor that in when you evaluate my report. Because I’ve done the work and this is what I’ve concluded…”
  • it has unearned authority in the American press. If in doing the serious work of journalism–digging, reporting, verification, mastering a beat–you develop a view, expressing that view does not diminish your authority. It may even add to it. The View from Nowhere doesn’t know from this. It also encourages journalists to develop bad habits. Like: criticism from both sides is a sign that you’re doing something right, when you could be doing everything wrong.
  • Who gets credit for the phrase, “view from nowhere?” # A. The philosopher Thomas Nagel, who wrote a very important book with that title.
  • It says that human beings are, in fact, capable of stepping back from their position to gain an enlarged understanding, which includes the more limited view they had before the step back. Think of the cinema: when the camera pulls back to reveal where a character had been standing and shows us a fuller tableau. To Nagel, objectivity is that kind of motion. We try to “transcend our particular viewpoint and develop an expanded consciousness that takes in the world more fully.”
runlai_jiang

Amazon Targets Medicaid Recipients as It Widens War for Low-Income Shoppers - WSJ - 0 views

  • The online retail giant said Wednesday that it will extend its $5.99 monthly Prime membership to the roughly 20% of the U.S. population that is signed up for Medicaid. Last year, the company introduced the discount—Prime membership ordinarily costs $12.99 a month or $99 a year—by offering it to people who obtain government assistance with cards typically used for the food-stamp program, formally called the Supplemental Nutrition Assistance Program.
  • Amazon’s pursuit of more low-income shoppers comes as analysts estimate Prime membership has reached more than half of all U.S. households with internet and largely saturated the wealthier segment.
  • Walmart has more than 4,600 stores in the U.S. and Dollar General Corp. —which targets households earning $40,000 or less—has more than 14,000, many in low-income, rural areas.
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  • Walmart, the country’s largest retailer by revenue, is seeking to attract wealthier shoppers, ramping up efforts to better compete with Amazon online. It is wooing premium brands to walmart.com; late last year it announced plans to start selling products from department store Lord &
  • And last week it replaced many of its private-label clothing brands with new, slightly more expensive and fashion-forward versions.
  • Lower-income consumers have been the fastest-growing segment of online shoppers, analysts say, but still face potential impediments. They may lack internet access, banking resources like credit cards—SNAP cards can’t be used to pay online—and safe places to deliver a package.
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    Amazon's targets at low-income shoppers show its aim to popularize and expand online shopping in daily life.
tongoscar

What do tense US-Iranian relations mean for China, North Korea? | News | Al Jazeera - 0 views

  • Deepening fractures in the relationship between the United States and Iran pose economic headaches for China but create strategic opportunities for North Korea, experts say - one of many reverberations from the weeklong crisis.
  • Its top sources are Saudi Arabia and Iraq, which has been exporting 100,000 barrels of crude oil a day to China since October as part of an infrastructure deal.  Beijing is also the biggest buyer of Iran's crude, although imports have fallen since waivers from US sanctions expired last year. In November, the Communist state bought 547,758 metric tonnes (539,106 tons) of crude from Iran, well below April's 3.04 million tonnes, according to Chinese customs data.
  • Chinese President Xi Jinping's administration, which held naval war exercises with Iran and Russia in the Gulf of Oman last month, has sternly criticised the US for Soleimani's death but there is not much else it can do, according to analysts. "China is keen to avoid further strain in its relations with the US, as ensuring regional stability and ending trade war are currently its top foreign policy priorities," said Kaho Yu, a senior Asia analyst at consulting firm Verisk Maplecroft in Singapore.
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  • In September, the White House slapped sanctions on various Chinese people and companies, including two COSCO Shipping Corporation units, for "knowingly engaging" in the transport of Iranian crude in breach of US sanctions on the Islamic Republic. Telecommunications giant Huawei, deemed a national security risk by the US, has also come under fire over alleged sanctions violations. Its chief financial officer Meng Wanzhou is currently battling extradition to the US on charges of fraud and misleading HSBC Holdings over Huawei's business in Iran.
  • "The US taking out a top Iranian leader may cause Pyongyang to rethink the scale of its next provocation," Leif-Eric Easley, an associate professor of international studies at Seoul's Ewha University, wrote in a Tuesday note published on The Lowy Institute, an Australian think-tank. "Pyongyang may now point to Iran's case to justify resisting denuclearisation and enhancing its self-avowed strategic deterrent for regime survival," he continued.
  • Given the riskiness of US foreign policy actions, other countries may be unwilling to continue cooperating with Washington, he warned: "With the current escalation in Iran-US ties, other countries with an interest in seeing a nuclear-free North Korea may be less willing to trust the US' good faith." "This is particularly true as China and Russia continue to set themselves up as an alternative force for North Korean denuclearisation in contrast to the US-led campaign of sanctions," Rinna said.
Javier E

'The Fourth Turning' Enters Pop Culture - The New York Times - 0 views

  • According to “fourth turning” proponents, American history goes through recurring cycles. Each one, which lasts about 80 to 100 years, consists of four generation-long seasons, or “turnings.” The winter season is a time of upheaval and reconstruction — a fourth turning.
  • The theory first appeared in “The Fourth Turning,” a work of pop political science that has had a cult following more or less since it was published in 1997. In the last few years of political turmoil, the book and its ideas have bubbled into the mainstream.
  • According to “The Fourth Turning,” previous crisis periods include the American Revolution, the Civil War and World War II. America entered its latest fourth turning in the mid-2000s. It will culminate in a crisis sometime in the 2020s — i.e., now.
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  • One of the book’s authors, Neil Howe, 71, has become a frequent podcast guest. A follow-up, “The Fourth Turning Is Here,” comes out this month.
  • The play’s author, Will Arbery, 33, said he heard about “The Fourth Turning” while researching Stephen K. Bannon, the right-wing firebrand and former adviser to President Donald J. Trump, who is a longtime fan of the book and directed a 2010 documentary based on its ideas.
  • He described it as “this almost fun theory about history,” but added: “And yet there’s something deeply menacing about it.”
  • Mr. Arbery, who said he does not subscribe to the theory, sees parallels between the fourth turning and other nonscientific beliefs. “I modeled the way that Teresa talks about the fourth turning on the way that young liberals talk about astrology,” he said.
  • The book’s outlook on the near future has made it appealing to macro traders and crypto enthusiasts, and it is frequently cited on the podcasts “Macro Voices,” “Wealthion” and “On the Margin.”
  • In the new book, he describes what a coming civil war or geopolitical conflict might look like — though he shies away from casting himself as a modern-day Nostradamus.
  • “The Fourth Turning” captured a mood of decline in recent American life. “I remember feeling safe in the ’90s, and then as soon as 9/11 hit, the world went topsy-turvy,” he said. “Every time my cohort got to the point where we were optimistic, another crisis happened. When I read the book, I was like, ‘That makes sense.’”
  • “The Fourth Turning” was conceived during a period of relative calm. In the late 1980s, Mr. Howe, a Washington, D.C., policy analyst, teamed with William Strauss, a founder of the political satire troupe the Capitol Steps.
  • Their first book, “Generations,” told a story of American history through generational profiles going back to the 1600s. The book was said to have influenced Bill Clinton to choose a fellow baby boomer, Al Gore, as his running mate
  • when the 2008 financial crisis hit at almost exactly the point when the start of the fourth turning was predicted, it seemed to many that the authors might have been onto something. Recent events — the pandemic, the storming of the Capitol — have seemingly provided more evidence for the book’s fans.
  • Historically, a fourth turning crisis has always translated into a civil war, a war of great nations, or both, according to the book. Either is possible over the next decade, Mr. Howe said. But he is a doomsayer with an optimistic streak: Each fourth turning, in his telling, kicks off a renaissance in civic life.
  • “I’ve read ‘The Fourth Turning,’ and indeed found it useful from a macroeconomic investing perspective,” Lyn Alden, 35, an investment analyst, wrote in an email. “History doesn’t repeat, but it kind of gives us a loose framework to work with.”
  • “This big tidal shift is arriving,” Mr. Howe said. “But if you’re asking me which wave is going to knock down the lighthouse, I can’t do that. I can just tell you that this is the time period. It gives you a good idea of what to watch for.”
karenmcgregor

Unraveling the Mysteries of Wireshark: A Beginner's Guide - 2 views

In the vast realm of computer networking, understanding the flow of data packets is crucial. Whether you're a seasoned network administrator or a curious enthusiast, the tool known as Wireshark hol...

education student university assignment help packet tracer

started by karenmcgregor on 14 Mar 24 no follow-up yet
Sean Kirkpatrick

Basketball on Air Craft Carrier - 0 views

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    After listening to Zach Lessner talk about his TOK moment- how it is harder to play basketball on an air craft carrier- I did some more research on the game. Other analysts said that there was increased moisture on the court, providing more slippery surfaces to play on. This could have led to injury or just a more sloppy game. Interesting.
Javier E

Nate Cohn Reviews Charles Wheelan's "Naked Statistics" | The New Republic - 0 views

  • With data-driven analysts gaining newfound fame, there’s a growing mythology about the power of statistics. Some appear to be convinced that statistics possess nearly unlimited explanatory power, at least if the data is good enough.
  • To the extent that growing segments of the media and public have become convinced that statistics can yield dispositive answers to difficult problems, it may be increasingly necessary to offer as much attention to the types of questions that statistics can’t answer as the ones that statistics can answer well.
  • The growing mythology around data-driven analysis isn’t just a testament to recent high-profile successes; it’s also the result of a lack of knowledge.
Javier E

Nate Silver, Artist of Uncertainty - 0 views

  • In 2008, Nate Silver correctly predicted the results of all 35 Senate races and the presidential results in 49 out of 50 states. Since then, his website, fivethirtyeight.com (now central to The New York Times’s political coverage), has become an essential source of rigorous, objective analysis of voter surveys to predict the Electoral College outcome of presidential campaigns. 
  • Political junkies, activists, strategists, and journalists will gain a deeper and more sobering sense of Silver’s methods in The Signal and the Noise: Why So Many Predictions Fail—But Some Don’t (Penguin Press). A brilliant analysis of forecasting in finance, geology, politics, sports, weather, and other domains, Silver’s book is also an original fusion of cognitive psychology and modern statistical theory.
  • Its most important message is that the first step toward improving our predictions is learning how to live with uncertainty.
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  • The second step is starting to understand why it is that big data, super computers, and mathematical sophistication haven’t made us better at separating signals (information with true predictive value) from noise (misleading information). 
  • Silver’s background in sports and poker turns out to be invaluable. Successful analysts in gambling and sports are different from fans and partisans—far more aware that “sure things” are likely to be illusions,
  • he blends the best of modern statistical analysis with research on cognition biases pioneered by Princeton psychologist and Nobel laureate in economics  Daniel Kahneman and the late Stanford psychologist Amos Tversky. 
  • One of the biggest problems we have in separating signal from noise is that when we look too hard for certainty that isn’t there, we often end up attracted to noise, either because it is more prominent or because it confirms what we would like to believe.
  • In discipline after discipline, Silver shows in his book that when you look at even the best single forecast, the average of all independent forecasts is 15 to 20 percent more accurate. 
  • Silver has taken the next major step: constantly incorporating both state polls and national polls into Bayesian models that also incorporate economic data.
  • Silver explains why we will be misled if we only consider significance tests—i.e., statements that the margin of error for the results is, for example, plus or minus four points, meaning there is one chance in 20 that the percentages reported are off by more than four. Calculations like these assume the only source of error is sampling error—the irreducible error—while ignoring errors attributable to house effects, like the proportion of cell-phone users, one of the complex set of assumptions every pollster must make about who will actually vote. In other words, such an approach ignores context in order to avoid having to justify and defend judgments. 
Javier E

This is what it's like to grow up in the age of likes, lols and longing | The Washingto... - 1 views

  • She slides into the car, and even before she buckles her seat belt, her phone is alight in her hands. A 13-year-old girl after a day of eighth grade.
  • She doesn’t respond, her thumb on Instagram. A Barbara Walters meme is on the screen. She scrolls, and another meme appears. Then another meme, and she closes the app. She opens BuzzFeed. There’s a story about Florida Gov. Rick Scott, which she scrolls past to get to a story about Janet Jackson, then “28 Things You’ll Understand If You’re Both British and American.” She closes it. She opens Instagram. She opens the NBA app. She shuts the screen off. She turns it back on. She opens Spotify. Opens Fitbit. She has 7,427 steps. Opens Instagram again. Opens Snapchat. She watches a sparkly rainbow flow from her friend’s mouth. She watches a YouTube star make pouty faces at the camera. She watches a tutorial on nail art. She feels the bump of the driveway and looks up. They’re home. Twelve minutes have passed.
  • Katherine Pommerening’s iPhone is the place where all of her friends are always hanging out. So it’s the place where she is, too.
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  • “Over 100 likes is good, for me. And comments. You just comment to make a joke or tag someone.”
  • The best thing is the little notification box, which means someone liked, tagged or followed her on Instagram. She has 604 followers. There are only 25 photos on her page because she deletes most of what she posts. The ones that don’t get enough likes, don’t have good enough lighting or don’t show the coolest moments in her life must be deleted.
  • Sociologists, advertisers, stock market analysts – everyone wants to know what happens when the generation born glued to screens has to look up and interact with the world.
  • “It kind of, almost, promotes you as a good person. If someone says, ‘tbh you’re nice and pretty,’ that kind of, like, validates you in the comments. Then people can look at it and say ‘Oh, she’s nice and pretty.’ ”
  • School is where she thrives: She is beloved by her teachers, will soon star as young Simba in the eighth-grade performance of “The Lion King” musical, and gets straight A’s. Her school doesn’t offer a math course challenging enough for her, so she takes honors algebra online through Johns Hopkins University.
  • “Happy birthday posts are a pretty big deal,” she says. “It really shows who cares enough to put you on their page.”
  • He checks the phone bill to see who she’s called and how much she’s been texting, but she barely calls anyone and chats mostly through Snapchat, where her messages disappear.
  • Some of Katherine’s very best friends have never been to her house, or she to theirs. To Dave, it seems like they rarely hang out, but he knows that to her, it seems like they’re together all the time.
  • Dave Pommerening wants to figure out how to get her to use it less. One month, she ate up 18 gigabytes of data. Most large plans max out at 10. He intervened and capped her at four GB. “I don’t want to crimp it too much,” he says. “That’s something, from my perspective, I’m going to have to figure out, how to get my arms around that.”
  • Even if her dad tried snooping around her apps, the true dramas of teenage girl life are not written in the comments. Like how sometimes, Katherine’s friends will borrow her phone just to un-like all the Instagram photos of girls they don’t like. Katherine can’t go back to those girls’ pages and re-like the photos because that would be stalking, which is forbidden.
  • Or how last week, at the middle school dance, her friends got the phone numbers of 10 boys, but then they had to delete five of them because they were seventh-graders. And before she could add the boys on Snapchat, she realized she had to change her username because it was her childhood nickname and that was totally embarrassing.
  • Then, because she changed her username, her Snapchat score reverted to zero. The app awards about one point for every snap you send and receive. It’s also totally embarrassing and stressful to have a low Snapchat score. So in one day, she sent enough snaps to earn 1,000 points.
  • Snapchat is where flirting happens. She doesn’t know anyone who has sent a naked picture to a boy, but she knows it happens with older girls, who know they have met the right guy.
  • Nothing her dad could find on her phone shows that for as good as Katherine is at math, basketball and singing, she wants to get better at her phone. To be one of the girls who knows what to post, how to caption it, when to like, what to comment.
  • Katherine doesn’t need magazines or billboards to see computer-perfect women. They’re right on her phone, all the time, in between photos of her normal-looking friends. There’s Aisha, there’s Kendall Jenner’s butt. There’s Olivia, there’s YouTube star Jenna Marbles in lingerie.
  • The whole world is at her fingertips and has been for years. This, Katherine offers as a theory one day, is why she doesn’t feel like she’s 13 years old at all. She’s probably, like, 16.
  • “I don’t feel like a child anymore” she says. “I’m not doing anything childish. At the end of sixth grade” — when all her friends got phones and downloaded Snapchat, Instagram and Twitter — “I just stopped doing everything I normally did. Playing games at recess, playing with toys, all of it, done.”
  • Her scooter sat in the garage, covered in dust. Her stuffed animals were passed down to Lila. The wooden playground in the back yard stood empty. She kept her skateboard with neon yellow wheels, because riding it is still cool to her friends.
  • On the morning of her 14th birthday, Katherine wakes up to an alarm ringing on her phone. It’s 6:30 a.m. She rolls over and shuts it off in the dark. Her grandparents, here to celebrate the end of her first year of teenagehood, are sleeping in the guest room down the hall. She can hear the dogs shuffling across the hardwood downstairs, waiting to be fed. Propping herself up on her peace-sign-covered pillow, she opens Instagram. Later, Lila will give her a Starbucks gift card. Her dad will bring doughnuts to her class. Her grandparents will take her to the Melting Pot for dinner. But first, her friends will decide whether to post pictures of Katherine for her birthday. Whether they like her enough to put a picture of her on their page. Those pictures, if they come, will get likes and maybe tbhs. They should be posted in the morning, any minute now. She scrolls past a friend posing in a bikini on the beach. Then a picture posted by Kendall Jenner. A selfie with coffee. A basketball Vine. A selfie with a girl’s tongue out. She scrolls, she waits. For that little notification box to appear.
Javier E

Minsky's moment | The Economist - 0 views

  • Minsky started with an explanation of investment. It is, in essence, an exchange of money today for money tomorrow. A firm pays now for the construction of a factory; profits from running the facility will, all going well, translate into money for it in coming years.
  • Put crudely, money today can come from one of two sources: the firm’s own cash or that of others (for example, if the firm borrows from a bank). The balance between the two is the key question for the financial system.
  • Minsky distinguished between three kinds of financing. The first, which he called “hedge financing”, is the safest: firms rely on their future cashflow to repay all their borrowings. For this to work, they need to have very limited borrowings and healthy profits. The second, speculative financing, is a bit riskier: firms rely on their cashflow to repay the interest on their borrowings but must roll over their debt to repay the principal. This should be manageable as long as the economy functions smoothly, but a downturn could cause distress. The third, Ponzi financing, is the most dangerous. Cashflow covers neither principal nor interest; firms are betting only that the underlying asset will appreciate by enough to cover their liabilities. If that fails to happen, they will be left exposed.
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  • Economies dominated by hedge financing—that is, those with strong cashflows and low debt levels—are the most stable. When speculative and, especially, Ponzi financing come to the fore, financial systems are more vulnerable. If asset values start to fall, either because of monetary tightening or some external shock, the most overstretched firms will be forced to sell their positions. This further undermines asset values, causing pain for even more firms. They could avoid this trouble by restricting themselves to hedge financing. But over time, particularly when the economy is in fine fettle, the temptation to take on debt is irresistible. When growth looks assured, why not borrow more? Banks add to the dynamic, lowering their credit standards the longer booms last. If defaults are minimal, why not lend more? Minsky’s conclusion was unsettling. Economic stability breeds instability. Periods of prosperity give way to financial fragility.
  • Minsky’s insight might sound obvious. Of course, debt and finance matter. But for decades the study of economics paid little heed to the former and relegated the latter to a sub-discipline, not an essential element in broader theories.
  • Minsky was a maverick. He challenged both the Keynesian backbone of macroeconomics and a prevailing belief in efficient markets.
  • t Messrs Hicks and Hansen largely left the financial sector out of the picture, even though Keynes was keenly aware of the importance of markets. To Minsky, this was an “unfair and naive representation of Keynes’s subtle and sophisticated views”. Minsky’s financial-instability hypothesis helped fill in the holes.
  • His challenge to the prophets of efficient markets was even more acute. Eugene Fama and Robert Lucas, among others, persuaded most of academia and policymaking circles that markets tended towards equilibrium as people digested all available information. The structure of the financial system was treated as almost irrelevant
  • In recent years, behavioural economists have attacked one plank of efficient-market theory: people, far from being rational actors who maximise their gains, are often clueless about what they want and make the wrong decisions.
  • But years earlier Minsky had attacked another: deep-seated forces in financial systems propel them towards trouble, he argued, with stability only ever a fleeting illusion.
  • Investors were faster than professors to latch onto his views. More than anyone else it was Paul McCulley of PIMCO, a fund-management group, who popularised his ideas. He coined the term “Minsky moment” to describe a situation when debt levels reach breaking-point and asset prices across the board start plunging. Mr McCulley initially used the term in explaining the Russian financial crisis of 1998. Since the global turmoil of 2008, it has become ubiquitous. For investment analysts and fund managers, a “Minsky moment” is now virtually synonymous with a financial crisis.
  • it would be a stretch to expect the financial-instability hypothesis to become a new foundation for economic theory. Minsky’s legacy has more to do with focusing on the right things than correctly structuring quantifiable models. It is enough to observe that debt and financial instability, his main preoccupations, have become some of the principal topics of inquiry for economists today
  • As Mr Krugman has quipped: “We are all Minskyites now.”
qkirkpatrick

Google takes a page from Apple with Android Pay | New York Post - 0 views

  • That’s the approach Google appears to be taking with the launch of Android Pay, a new mobile-payments system that closely mimics the Apple Pay platform launched last fall.
  • Scrambling to play catch-up, Google crucially has cut partnerships with a slew of big retailers including Macy’s, Best Buy, Walgreen, Whole Foods and McDonald’s
  • That list of retailers looks a lot like Apple Pay’s, and cutting those partnerships is something that the search giant’s flopped Google Wallet system failed to do when it was launched in 2011.
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  • Google’s Near Field Communication technology will be at odds with Samsung’s upcoming “Samsung Pay” platform, which operates using the magnetic strips of traditional card readers.
  • In particular, analysts say mobile payments could help Google learn more about the effectiveness of its search ads.
  •  
    Can becoming more technologically reliant lead to a lot more problems in the future
Javier E

The Unrealized Horrors of Population Explosion - NYTimes.com - 0 views

  • No one was more influential — or more terrifying, some would say — than Paul R. Ehrlich, a Stanford University biologist. His 1968 book, “The Population Bomb,” sold in the millions with a jeremiad that humankind stood on the brink of apocalypse because there were simply too many of us. Dr. Ehrlich’s opening statement was the verbal equivalent of a punch to the gut: “The battle to feed all of humanity is over.” He later went on to forecast that hundreds of millions would starve to death in the 1970s, that 65 million of them would be Americans, that crowded India was essentially doomed, that odds were fair “England will not exist in the year 2000.” Dr. Ehrlich was so sure of himself that he warned in 1970 that “sometime in the next 15 years, the end will come.” By “the end,” he meant “an utter breakdown of the capacity of the planet to support humanity.”
  • After the passage of 47 years, Dr. Ehrlich offers little in the way of a mea culpa. Quite the contrary. Timetables for disaster like those he once offered have no significance, he told Retro Report, because to someone in his field they mean something “very, very different” from what they do to the average person. The end is still nigh, he asserted, and he stood unflinchingly by his 1960s insistence that population control was required, preferably through voluntary methods. But if need be, he said, he would endorse “various forms of coercion” like eliminating “tax benefits for having additional children.”
  • Stewart Brand, founding editor of the Whole Earth Catalog. On this topic, Mr. Brand may be deemed a Keynesian, in the sense of an observation often attributed to John Maynard Keynes: “When the facts change, I change my mind, sir. What do you do?” Mr. Brand’s formulation for Retro Report was to ask, “How many years do you have to not have the world end” to reach a conclusion that “maybe it didn’t end because that reason was wrong?”
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  • One thing that happened on the road to doom was that the world figured out how to feed itself despite its rising numbers. No small measure of thanks belonged to Norman E. Borlaug, an American plant scientist whose breeding of high-yielding, disease-resistant crops led to the agricultural savior known as the Green Revolution.
  • Some preternaturally optimistic analysts concluded that humans would always find their way out of tough spots. Among them was Julian L. Simon, an economist who established himself as the anti-Ehrlich, arguing that “humanity’s condition will improve in just about every material way.”
  • In fact, birthrates are now below long-term replacement levels, or nearly so, across much of Earth, not just in the industrialized West and Japan but also in India, China, much of Southeast Asia, Latin America — just about everywhere except Africa, although even there the continentwide rates are declining. “Girls that are never born cannot have babies,”
  • Because of improved health standards, birthing many children is not the survival imperative for families that it once was. In cramped cities, large families are not the blessing they were in the agricultural past. And women in many societies are ever more independent, socially and economically; they no longer accept that their fate is to be endlessly pregnant. If anything, the worry in many countries is that their populations are aging and that national vitality is ebbing.
  • Still, enough people are already around to ensure that the world’s population will keep rising. But for how long? That is a devilishly difficult question. One frequently cited demographic model by the United Nations envisions a peak of about nine billion around 2050. Other forecasts are for continued growth into the next century. Still others say the population will begin to drop before the middle of this century.
  • In Mr. Pearce’s view, the villain is not overpopulation but, rather, overconsumption. “We can survive massive demographic change,” he said in 2011. But he is less sanguine about the overuse of available resources and its effects on climate change
  • “Rising consumption today far outstrips the rising head count as a threat to the planet,” Mr. Pearce wrote in Prospect, a British magazine, in 2010. “And most of the extra consumption has been in rich countries that have long since given up adding substantial numbers to their population,
  • “Let’s look at carbon dioxide emissions, the biggest current concern because of climate change,” he continued. “The world’s richest half billion people — that’s about 7 percent of the global population — are responsible for half of the world’s carbon dioxide emissions. Meanwhile, the poorest 50 percent of the population are responsible for just 7 percent of emissions.”
Javier E

The Creepy New Wave of the Internet by Sue Halpern | The New York Review of Books - 0 views

  • as human behavior is tracked and merchandized on a massive scale, the Internet of Things creates the perfect conditions to bolster and expand the surveillance state.
  • In the world of the Internet of Things, your car, your heating system, your refrigerator, your fitness apps, your credit card, your television set, your window shades, your scale, your medications, your camera, your heart rate monitor, your electric toothbrush, and your washing machine—to say nothing of your phone—generate a continuous stream of data that resides largely out of reach of the individual but not of those willing to pay for it or in other ways commandeer it.
  • That is the point: the Internet of Things is about the “dataization” of our bodies, ourselves, and our environment. As a post on the tech website Gigaom put it, “The Internet of Things isn’t about things. It’s about cheap data.
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  • the ubiquity of the Internet of Things is putting us squarely in the path of hackers, who will have almost unlimited portals into our digital lives.
  • Forbes reported that security researchers had come up with a $20 tool that was able to remotely control a car’s steering, brakes, acceleration, locks, and lights. It was an experiment that, again, showed how simple it is to manipulate and sabotage the smartest of machines, even though—but really because—a car is now, in the words of a Ford executive, a “cognitive device.”
  • a study of ten popular IoT devices by the computer company Hewlett-Packard uncovered a total of 250 security flaws among them. As Jerry Michalski, a former tech industry analyst and founder of the REX think tank, observed in a recent Pew study: “Most of the devices exposed on the internet will be vulnerable. They will also be prone to unintended consequences: they will do things nobody designed for beforehand, most of which will be undesirable.”
kushnerha

What Drives Gun Sales: Terrorism, Obama and Calls for Restrictions - The New York Times - 0 views

  • On Sunday, President Obama called for making it harder to buy assault weapons after the terrorist attack in San Bernardino, Calif. On Monday, the stock prices of two top gun makers, Smith & Wesson and Ruger, soared.
  • “President Obama has actually been the best salesman for firearms,” said Brian W. Ruttenbur, an analyst with BB&T Capital Markets
  • Fear of gun-buying restrictions has been the main driver of spikes in gun sales, far surpassing the effects of mass shootings and terrorist attacks alone, according to federal background-check data
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  • When a man shot and killed 26 people at Sandy Hook Elementary School in Newtown, Conn., gun sales did not set records until five days later, after President Obama called for banning assault rifles and high-capacity magazines.
  • “It would be like you’ve never owned a toaster, you don’t really want a toaster, but the federal government says they’re going to ban toasters,” Mr. Ruttenbur said. “So you go out and buy a toaster.”
  • Gun sales rose in New Jersey in 2013 after Gov. Chris Christie proposed measures that included expanding background checks and banning certain rifles. (Mr. Christie later vetoed one of the most stringent parts
  • Catch-22 for gun control proponents: Pushing for new restrictions can lead to an influx of new guns.
  • Maryland approved one of the nation’s strictest gun-control measures in May 2013, gun sales jumped as buyers tried to beat the October deadline specified in the measure
  • after Hurricane Katrina, legally registered guns were confiscated from civilians. The confiscations outraged gun owners and prompted an increase in gun sales in the area. Conservatives responded by pushing for a federal law prohibiting the seizure of firearms from civilians during an emergency
  • Gun sales have more than doubled in a decade, to about 15 million in 2013 from about seven million in 2002. More firearms are sold to residents in the United States than in any other country
  • These estimates undercount total sales because they omit some purchases in states that do not require background checks for private sales. They also exclude permits that allow people in some states to buy multiple guns with a single background check.
  • The increase is mostly due to higher sales of handguns, which are typically bought for self-defense. Two of the fastest-growing segments of the market are women and gun owners with concealed carry permits.
  • When Missouri repealed a requirement that gun buyers obtain a permit to buy a handgun in 2007, estimated gun sales went up and stayed up, by roughly 9,000 additional guns per month. The influx shifted gun-trafficking patterns, reducing the number of guns used in crimes that had been brought in from neighboring states.
  • Supreme Court invalidated a ban on handguns in Washington, estimated handgun sales in the city went from near-zero to about 40 every month.
simoneveale

Pope Francis Arrives in U.S. for First Visit - The New York Times - 0 views

  • determined to press the world’s last superpower to do more to care for the planet and its most marginalized inhabitants.
  • the pope, who has shunned some of the perks of the papacy since his ascension in 2013
  • the first canonization on American soil, an address to Congress and not a small degree of tension over his message
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  • . Many of his themes coincide with those of Mr. Obama, but they also diverge in significant ways that could flavor the visit.
  • “The pope is a singular figure and he has really stirred the souls of people all around the world,” said Josh Earnest, the White House press secretary.
  • Pope Francis arrived here from Cuba, where he wrapped up a four-day visit on Tuesday morning in the country’s heartland of religion and revolution,
  • “Without family, without the warmth of home, life grows empty, there is a weakening of the networks which sustain us in adversity, nurture us in daily living and motivate us to build a better future,”
  • The president’s personal welcome was a sign of respect. Presidents rarely greet foreign visitors at Andrews, instead waiting for them to make their way to the White House.
  • The White House sought to highlight the alignment between the president and the pope, while de-emphasizing areas of discord.
  • abortion opponents were hoping that Pope Francis would boost their bid to impose new limits on the procedure and cut off federal financing of Planned Parenthood.
  • Yet Pope Francis may also make points that challenge both parties, particularly if he repeats his remarks against what he sees as the excesses of globalization and capitalism.
  • Mr. Serra is seen as a hero who spread the gospel to the New World. But Native American groups condemn him for harsh treatment of the indigenous population.
  • There were some expectations that he would raise the issues of human rights and political liberty with his hosts, but Pope Francis opted instead to be cautious.
  • The pope did not speak out against the American trade embargo against Cuba, either
  • Some analysts said Pope Francis’s restrained remarks worked to the advantage of Cuba’s leaders and the Obama administration. They saw the visit as a success because it allowed all parties to keep moving toward normalized relations.
Javier E

To Cut My Spending, I Used Behavioral Economics on Myself - The Atlantic - 0 views

  • “The average person, in my view, a lot of the overspending they do isn’t in the small things, which your system is likely to deal with,” he said. “But it’s large things that are often quite invisible, and wouldn’t be picked up by your system.” There are usually more savings to be had from revisiting one’s auto- or home-insurance policy, or one’s phone bill, than from skipping the marginal cup of coffee. Loewenstein said it’s more effective to make changes with larger “one-time decisions,” instead of regularly having to make “all these micro-decisions.”
  • the dynamics that shape spending. On one side of each credit-card swipe are multiple financial corporations—a phalanx of marketers, programmers, and data analysts who have perfect visibility into countless transactions, and who are thus armed with plentiful information about people’s purchases. On the other is the individual, who lacks this bird’s-eye view and is effectively on their own as they weigh whether and how much to spend at any given time. This arrangement seems lopsided and unfair
  • “A lot of the problem is us … We tend to blame the credit-card industry for our own desire to have a standard of living that is beyond what our income is. You can’t blame Visa for that.” He said the focus should be on norms, and how individual action can alter them—maybe two friends cook dinner together instead of going out. The goal, Pollack says, would be a culture that prizes restraint without being puritanical.
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  • What would create such a culture? There is the Consumer Financial Protection Bureau, which (in theory) provides high-level government oversight, and there are small individual actions (like, say, meticulously tracking one’s purchases), but there isn’t something in between—a powerful advocacy group, a mainstream cultural movement, or something else not yet built or imagined—that serves as a counterweight to the pressure on Americans to spend.
Javier E

Rewriting the War, Japanese Right Attacks a Newspaper - NYTimes.com - 1 views

  • Tabloids brand him a traitor for disseminating “Korean lies” that they say were part of a smear campaign aimed at settling old scores with Japan. Threats of violence, Mr. Uemura says, have cost him one university teaching job and could soon rob him of a second. Ultranationalists have even gone after his children, posting Internet messages urging people to drive his teenage daughter to suicide.
  • The threats are part of a broad, vitriolic assault by the right-wing news media and politicians here on The Asahi, which has long been the newspaper that Japanese conservatives love to hate. The battle is also the most recent salvo in a long-raging dispute over Japan’s culpability for its wartime behavior that has flared under Prime Minister Shinzo Abe’s right-leaning government.
  • “The War on The Asahi,” as commentators have called it, began in August when the newspaper bowed to public criticism and retracted at least a dozen articles published in the 1980s and early ’90s. Those articles cited a former soldier, Seiji Yoshida, who claimed to have helped abduct Korean women for the military brothels. Mr. Yoshida was discredited two decades ago, but the Japanese right pounced on The Asahi’s gesture and called for a boycott to drive the 135-year-old newspaper out of business.
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  • With elections this month, analysts say conservatives are trying to hobble the nation’s leading left-of-center newspaper. The Asahi has long supported greater atonement for Japan’s wartime militarism and has opposed Mr. Abe on other issues. But it is increasingly isolated as the nation’s liberal opposition remains in disarray after a crushing defeat at the polls two years ago.Continue reading the main story
  • Among the women who have come forward to say they were forced to have sex with soldiers are Chinese, Koreans and Filipinos, as well as Dutch women captured in Indonesia, then a Dutch colony.
  • The revisionists, however, have seized on the lack of evidence of abductions to deny that any women were held captive in sexual slavery and to argue that the comfort women were simply camp-following prostitutes out to make good money.
  • Many on the right have argued that Japan’s behavior was no worse than that of other World War II combatants, including the United States’ bombing of Japanese civilians.
  • Since August, The Asahi’s daily circulation has dropped by 230,797 to about seven million
  • Mr. Uemura said The Asahi had been too fearful to defend him, or even itself. In September, the newspaper’s top executives apologized on television and fired the chief editor.
  • Mr. Uemura did not attend, explaining that he was now reluctant to appear in public. “This is the right’s way of threatening other journalists into silence,” he said. “They don’t want to suffer the same fate that I have.”
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