I wish I had the benefit to time travel and come back to the point of departure, or back to 'real time' so as to take full advantage of the benefit of hindsight.

Now I know why I thought abstract math was hard, but today it just seems like a piece of cake. A good starting point is to understand what exactly is the question, and what is being postulated.

War and Peace
Beginning of Book Three

"We are forced to fall back on fatalism to explain the irrational events of history (that is to say, events the intelligence of which we do not see). The more we strive to account for such events in history rationally, the more irrational and incomprehensible do they become to us.

Every man lives for himself, using his freedom to attain his personal aims, and feels with his whole being that he can at any moment perform or not perform this or that action; but, as soon as he has done it, that action accomplished at a certain moment in time becomes irrevocable and belongs to history, in which it has not a free but a pre-destined significance.

There are two sides to life of every man: there is the individual existence which is free in proportion as his interest are abstract; and his elemental life as a unit in the human swarm, in which he must inevitably obey the laws laid down for him.

Man lives consciously for himself but unconsciously he serves as an instrument for the accomplishment of historical and social ends. A deed done is irrevocable, and tha taction of his coinciding in time with the actions of millions of other men assumes an historical significance. The higher a man stands in the social scale, th emore connexions he has with others and the more power he has over them, the more conspicuous is the predestination and inevitability of every act he commits.
"The hearts of kings are in the in the hand of God."
A king is the slave of history/
History, that is, the unconscious, universal, swarm-life of mankind, uses every moment of the life of kings for its own purposes.

A Credit Memo consists of:

Executive summary
Exhibits
Term Sheet
Company Background
Industry Analysis
Financial Analysis
MFA spread

ROE
DOA
KYC key yield c???
e...
Financial model

F's experience

Copy from people who can be good role models. Learn from other people. Learn about traits from other people.
Smart studying or exam test strategy include
Making sure you have no question marks about anything
Or, if you still have questions make sure those things are unimportant
Expand on sub bullet points after class
There may be things in class that I don't understand, but it involves going online or Wikipedia to look it up
Get notes from other people

What HK students do:
Get the problem set from other people to copy
Study from your problem sets ("cheating")

Disciplined.
Don't get addicted:

Remember, the 1 h spent on FB could have been used to:
Chatting with people
Exercising
Reading a news article

For more than we are consciously aware, our daily encounters with parents, spouses, bosses and even strangers shape our brains and affect cells throughout our bodies - down to the level of our genes - for good or ill. In Social Intelligence, Daniel Goleman explores an emerging new science with startling implications for our interpersonal world. Its most fundamental discovery: we are designed for sociability, constantly engaged in a "neural ballet" that connects us brain to brain with those around us.

Our reactions to others, and theirs to us, have a far-reaching biological impact, sending out cascades of hormones that regulate everything from out hearts ot our immune systems, making good relationships act like vitamins - and bad relationships like poisons. We can "catch" other people's emotions the way we catch a cold, and the consequences of isolation or relentless social stress can be life-shortening.

Goleman explains the surprising accuracy of first impressions, the basis of charisma and emotional power, the complexity of sexual attraction, and how we detect lies. He describes the "dark side" of social intelligence, from narcissism to Machiavellianism and psychopathy. He also reveals our astonishing capacity for "mindsight," as well as the tragedy of those, like autistic children, whose mindsight is impaired.

Can you read that person's gesture, facial expression, tone of voice, and posture?

Emotions can be contagious.

What's your emotional equivalent of zeitgebers?

We're not rational, but we're able to rationalize and are rationalizing most of the time. Believe you me :-)

Internet survey

Stanford Institute for the Quantitative Study of Society

Social neuroscience. A sharper scientific understanding of the neural dynamics of human relationships.

We are the world

When the world must come together as one
There are people dying
It's time to lend a hand
greatest gift of all

We can go on
Pretending day by day

Way Back Into Love

Music and Lyrics

Haley:
I've been living with a shadow over head
I've been sleeping with a cloud above my bed
I've been lonely for so long
Trapped in the past, I just can't seem to move on

Hugh:
I've been hiding all my hopes and dreams away
Just incase I ever need'em again someday
I've been setting aside time,to clear a little space in the corners of my mind

Chorus:
All I want to do is find a way back into love
I can't make it through without a way back into love
ohhh

Haley:
I've been watching but the stars refuse to shine
I've been searching but I just don't see the signs
I know that it's out there
There's gotta be something for my soul somewhere

Hugh:
I've been looking for someone to shed some light
Not just somebody to get me through the night
I could use some direction, and I'm open to your suggestions

Chrous:
All I want to do is find a way back into love
I can't make it through without a way back into love
and if I open my heart again
I guess I'm hoping you'll be there for me in the end

***

Haley:
There are moments when I don't know if it's real
or if anybody feels the way I feel
I need inspiration, not just another negotiation

Chorus:
All I want to do is find a way back into love
I can't make it through without a way back into love
and if I open my heart to you
I'm hoping you'll show me what to do
and if you help me to start again
you know that I'll be there for you in the end.

It's never been easy for me
To find words to go along with a melody
But this time there's actually something on my mind
So please forgive these few brief awkward lines

Since I've met you
My whole life has changed
It's not just my furniture you've rearranged
I was living in the past
But somehow you've brought me back
And I haven't felt like this since
Frankie said relaxed

Based on my track record
I may not seem like the safest bet
All I'm asking you
Is don't write me off
Just yet

don't write me off
just yet

Conversation starter

Action
Color
Me
Exaggeration

Business
Rhyme
Appearance
Meaning
Mind Picture
Similar Nature

L
Impression
Repetition
Association

You've got to
Earn the right to speak on that subject

Listed below are the Drivers for Success. Concentrating on growth in these areas can lead to breakthroughs in your life! Identify the breakthroughs in your desire in each of the Five Drivers.

Drivers for Success
Self-Confidence
People Skills
Communication Skills
Leadership Skills
Reduce Stress and Improve our Attitude

Professional Breakthroughs
Personal Breakthroughs

In case I haven't typed this note

1. Don't email when you can call
2. Don't complain too much
3. Do you homework - research!!!
4. Always ask yourself the big quesiton

1. Explain
2. Ask question
3. Business card

1. Too good to go somewhere without aid. Funding is a direct index of how confident they are in you.
2. UChicago graduate school?
3. Do your homework about the program
4. This year is tougher for grad
5. Graduate study abroad? Maastricht, LSE, Spain. Are these programs really worth it? Hard to evaluate the qualities of these programs
6. Talk to department/faculty. Talk to graduate students.

Jorge Garcia-Garcia, Steven Cheung

Ask yourself what you need to have prepared for it. Multi-year preparation. Demonstrated coursework in application.

Things you need:
Intellectual experience
Persistent
Don't apply unless you're really sure
Clear sense of what is involved
What you need to do to be prepared
Transcript reflects thorough preparation
Relevant skills, track record (relevant to previous point)
All this must be evident in your application

7. Have talked to an advisor. Or identified a mentor. Not leave the school you've applied for.
8. Can write a serious note of calculation
9. The liklihood of applicant going to that program
10. What good articles have you read? By whom?
11. Who is doing exciting work
12. Top choice school & right program. Research in excellence reputation is important.
13. Talk to graduate students - indiscreet about life personal and program itself.
14. Look for spark in life. May need to make sacrifices while pursuing a PhD, 7-8 year program.
15. Proof of the pudding - everything in your application is true.
16. You're committing a few years of your life.

Shovel - learn how to dig yourself out of a hole.
To have that talent.
Have that future.
Research pros - where do deep thinkers do their thinking?
Sending signals out but not getting feedback. What if that was your communication with your grad school?
You have learned how to dig. Need to show that in your coursework.

Education
Write think, puzzle it out.
Write a dissertation/ based on your original work.
CREATIVE PEOPLE
Should think about teaching
Research scholar, A good teacher gets tenure. You have to be a good teacher. Do you like that kind of life? Write book, associate with really smart people.

Summary of the analytical process - lr decisions: capital budgeting

1. Select a required rate of return. This rate applies to projects deemed to be of average risk and may be adjusted for a specific proposal whose risk is felt to be above or below average.

2. Estimate the economic life of teh proposed project.

3. Estimate the differential cash inflows for each year during the economic life, being careful that the base case is properly defined and quantified.

4. Find the net investment, which includes the additional outlays made at Time Zero, less the proceeds (adjusted for tax effects) from disposal of existing equipment and the investment tax credit, if any.

5. Estimate the terminal values at the end of the economic life, including the residual value fo equipment adn current assets that will be liquidated.

6. Find the present value of all the inflows identified in steps 3 and 5 by discounting them at teh required rate of return, using Table A (for single annual amounts) or Table B (for a series of equal annual flows).

7. Find the net present value by subtracting the net investment from the present value of the inflows. If the net present value is zero or positive, decide that the proposal is acceptable insofar as the monetary factors are concerned.

8. Taking into account the nonmonetary factors, reach a final decision. (This part of the process is at least as important as all the other parts put together, but there is no way of generalizing about it).

W. is a great source of knowledge on accounting. There is financial accounting, management accounting, and alternative decision cases. In each case one sees that it's possible to learn a subject on one's own, but the missing link is the lecture provided by the teacher, or the tutorials, but more importantly the study groups that effectively help students to tackle the material and (ultimately) do well on a test.

On another random thought: one can definitely learn to 'copy' others, but the end result if short of originality. Shine through.

One cannot have self-confidence without being successful and up to par with what one can do.

Good night.

The following list is from a 2001 survey of the "Most Beloved Books" in Britain.

The BBC believes most people will have only read 6 of the 100 books here. How do your reading habits stack up?

Instructions:
1) Look at the list and put an 'x' after those you have read.
2) Add a '+' to the ones you LOVE.
3) Star (*) those you plan on reading.
4) Tally your total at the bottom.


1 Pride and Prejudice - Jane Austen x
2 The Lord of the Rings - JRR Tolkien
3 Jane Eyre - Charlotte Bronte x
4 Harry Potter series - JK Rowling x
5 To Kill a Mockingbird - Harper Lee x+
6 The Bible
7 Wuthering Heights - Emily Bronte
8 Nineteen Eighty Four - George Orwell x
9 His Dark Materials - Philip Pullman x+
10 Great Expectations - Charles Dickens x
11 Little Women - Louisa M Alcott
12 Tess of the D’Urbervilles - Thomas Hardy
13 Catch 22 - Joseph Heller x+
14 Complete Works of Shakespeare x
15 Rebecca - Daphne Du Maurier
16 The Hobbit - JRR Tolkien x
17 Birdsong - Sebastian Faulks *
18 Catcher in the Rye - JD Salinger x
19 The Time Traveller’s Wife - Audrey Niffenegger
20 Middlemarch - George Eliot
21 Gone With The Wind - Margaret Mitchell
22 The Great Gatsby - F Scott Fitzgerald
23 Bleak House - Charles Dickens
24 War and Peace - Leo Tolstoy
25 The Hitch Hiker’s Guide to the Galaxy - Douglas Adams x+
26 Brideshead Revisited - Evelyn Waugh
27 Crime and Punishment - Fyodor Dostoyevsky
28 Grapes of Wrath - John Steinbeck x
29 Alice in Wonderland - Lewis Carrol
30 The Wind in the Willows - Kenneth Grahame
31 Anna Karenina - Leo Tolstoy
32 David Copperfield - Charles Dickens
33 Chronicles of Narnia - CS Lewis
34 Emma - Jane Austen
35 Persuasion - Jane Austen
36 The Lion, The Witch and The Wardrobe - CS Lewis
37 The Kite Runner - Khaled Hosseini
38 Captain Corelli’s Mandolin - Louis De Bernieres
39 Memoirs of a Geisha - Arthur Golden
40 Winnie the Pooh - AA Milne
41 Animal Farm - George Orwell x
42 The Da Vinci Code - Dan Brown x
43 One Hundred Years of Solitude - Gabriel Garcia Marquez x
44 A Prayer for Owen Meany - John Irving
45 The Woman in White - Wilkie Collins
46 Anne of Green Gables - LM Montgomery
47 Far From The Madding Crowd - Thomas Hardy
48 The Handmaid’s Tale - Margaret Atwood x+
49 Lord of the Flies - William Golding x
50 Atonement - Ian McEwan x
51 Life of Pi - Yann Martel x++
52 Dune - Frank Herbert
53 Cold Comfort Farm - Stella Gibbons
54 Sense and Sensibility - Jane Austen
55 A Suitable Boy - Vikram Seth
56 The Shadow of the Wind - Carlos Ruiz Zafon
57 A Tale Of Two Cities - Charles Dickens
58 Brave New World - Aldous Huxley x
59 The Curious Incident of the Dog in the Night-time - Mark Haddon x+
60 Love In The Time Of Cholera - Gabriel Garcia Marquez
61 Of Mice and Men - John Steinbeck x
62 Lolita - Vladimir Nabokov
63 The Secret History - Donna Tartt
64 The Lovely Bones - Alice Sebold
65 Count of Monte Cristo - Alexandre Dumas
66 On The Road - Jack Kerouac
67 Jude the Obscure - Thomas Hardy
68 Bridget Jones’s Diary - Helen Fielding x
69 Midnight’s Children - Salman Rushdie
70 Moby Dick - Herman Melville
71 Oliver Twist - Charles Dickens
72 Dracula - Bram Stoker
73 The Secret Garden - Frances Hodgson Burnett x
74 Notes From A Small Island - Bill Bryson x (funny and too true)
75 Ulysses - James Joyce (one of my favorite books)
76 The Inferno - Dante x
77 Swallows and Amazons - Arthur Ransome
78 Germinal - Emile Zola
79 Vanity Fair - William Makepeace Thackeray
80 Possession - AS Byatt (just finished. so good)
81 A Christmas Carol - Charles Dickens
82 Cloud Atlas - David Mitchell
83 The Color Purple - Alice Walker x
84 The Remains of the Day - Kazuo Ishiguro
85 Madame Bovary - Gustave Flaubert x
86 A Fine Balance - Rohinton Mistry
87 Charlotte’s Web - EB White x
88 The Five People You Meet In Heaven - Mitch Albom x+
89 Adventures of Sherlock Holmes - Sir Arthur Conan Doyle
90 The Faraway Tree Collection - Enid Blyton
91 Heart of Darkness - Joseph Conrad
92 The Little Prince - Antoine De Saint-Exupery *
93 The Wasp Factory - Iain Banks
94 Watership Down - Richard Adams x+
95 A Confederacy of Dunces - John Kennedy Toole
96 A Town Like Alice - Nevil Shute
97 The Three Musketeers - Alexandre Dumas
98 Hamlet - William Shakespeare
99 Charlie and the Chocolate Factory - Roald Dahl x+
100 Les Miserables - Victor Hugo

33.

That the children of the poor under-achieve in later life, and thus remain poor themselves, is one of the enduring problems of society. Sociologists have studied and described it. Socialists have tried to abolish it by dictatorship and central planning. Liberals have preferred democracy and opportunity. But nobody has truly understood what causes it. Until now, perhaps.

The crucial breakthrough was made three years ago, when Martha Farah of the University of Pennsylvania showed that the working memories of children who have been raised in poverty have smaller capacities than those of middle-class children. Working memory is the ability to hold bits of information in the brain for current use - the digits of a phone number, for example. It is crucial for comprehending languages, for reading and for solving problems. Entry into the working memory is also a prerequisite for something to be learnt permanently as part of a declarative memory - the stuff a person knows explicitly, like the dates of famous battles, rather than what he knows implicitly, like how to ride a bicycle.

Mr. Bate explores a different Shakespeare,one Jonson described as "Soul of the Age!", the man who stood for and expressed the essence of his generation.

The effect, curiously, is not to distance the man, but to sharpen him. Approaching him locally, with connections to specific places and people, with certain books on his desk, and an eye out for particular political and diplomatic pitfalls - all this brings Shakespeare into focus. Not that any biographer has much hard fact to work on. As Mr Bate says, Shakespeare is elusive in every way: in his politics, religion, sexuality and in everything else that matters. The trick, it seems, is to pay very close attention to what evidence there is, not to take anything for granted and, well, to know a great deal about this world.

Notes from CDS

Don't want LOR to cover what LO misses
Cover all speaker points
Act like you know your points

Strategy
LO will pretty much set the round
Thick vs. thin cases
Lots of possible points to talk about

Counter-case if you want to avoid talking about too many things
When you opp straight - push PM into a corner
Time period frame
Policy

If debate is becoming more muddled and less fair, you can set the record straight...

Not a reasonable caveat
The logic of the government case, justify... setting up an artificial barrier

Tight cases:
Some people are sadistic and shouldn't be
Fundamental Christian perspective which I am sure you do not share but you've left me no other choice/way.

Don't challenge the gov assumption...
Shift the debate - basketball policy on women/men team to gender inequality.

Opp arg. should be independent points (not rebuttals)
Analyze gov's p.o.v
Assumption of gov.
Identify - sufficiently removed that it requires explanation / elaboration / attack, it isn't a rebuttal
Damn their philosophical perspective...

Utility, morals, social welfare.

Policies always & usually have unintended consequences.
Who are they, what do they want?

MO's job is partly to give "POI" for PM speech.

On case:
Flows - listen for justification - factually inaccurate? False assumptions
If no. seems to be pulled out of thin air: Number is far more advantageous to them.

Why does a given savings rate translate into different growth rate?
History and expectation work their way through - complementaries & increasing returns.
Some goods have network externalities
Adoption costs. no. of adopters linked with multiple equilibriums.
QWERTY is already there by the advantage of historical precedence.
Lock-in effects
When an externality is such that the cost of an action increases with the number of adopters, they cannot be responsible for multiple equilibria or historical lock-in.
Historical lock-in occurs only when externalities take the form of complementaries.

Cooperation failure
Economic underdevelopment is the outcome of a massive coordination failure.
Investments can be considered a complementary good.
Coordinated equilibria

Norms are always a hindrance and that conformity can only slow down the pace of development.
Social norms: What individuals can do is tempered by what society thinks is acceptable.
History establishes a status quo.

Coordination failure: The possibility that an economy or more generally, a group of economic agents might be caught in a bad equilibrium when there is another good equilibrium in sight.

Mavericks are important.

Status quo has an important role in determining the successes of new policies. There are gainers and losers relative to the status quo. Not important even if it raises the total pie - overall welfare.

Inverted U-hypothesis

Hirschmann Rothschild described such an increase in an individual's utility (and hence a tolerance of greater inequality) resulting from the improvement in other's economic status as tunnel effect.

The stronger the tunnel effect, the higher the tolerance.

Benefits of development seems to be very unevenly distributed among individuals. Technical progress tends to be biased against unskilled workers initially.

Hypothetical world -- opp choice/ not hypothesized
Time space / not obscure
Straight up - policy type case can be straight up.
Many type of incarnation.

High speaker points Speaking high
Cases are interesting
Makes an interesting point

If judge can predict your round - checklist flow
Government - interesting/ sophisticated
Relevant or even unconditional.

All cases should have an interesting opposition
Ambitious case - counter-intuitive
Lots of burden, overcome prior beliefs

"Cute" cases bad - like gossip girls - are unimportant
Speak lower 0 not serious. Or unpleasant cases

Goes against social norm

What are all the different resolutions I can run off of this case?
Always write case & revaluate it.
Hod you order your points.

How do you turn an article in case?
Seeing case ideas everywhere.
If you're stuck. see them

How to explain difficult concepts to other people.
Thought experiments may be god rhetorically.

Case idea ----> case issues.
Thnk about different things this case could be about.

Eg.
1. Status quo problem
2. Our proposal saves it
3. No other alternatives

Opp -----> showed that this is flawed.

Have construct written out.
What are the assumptions?
Clarify them.

Fewer, concise, arguments are better, with regards to time constraints.

See you in a couple of years

This survey has argued that, to misquote Scott Fitzgerald, the middle class is different: meritocratic, thrifty, individualistic, committed to education. Some of these attributes and attitudes may be permanent, or at least only partially subject tot eh vagaries of the economic cycle. Admittedly there is little hard evidence from emerging markets to support or contradict this assertion.

People love to mock the middle class. Its narrow-mindedness, complacency and conformism are the mother lode of material for sitcom writers and novelists. But Marx thought "the bourgeoisie...has placed a most revolutionary part" in history. And although The Economist rarely sees eye to eye with the father of communism, on this Marx was right.