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Twenty years since the Exxon Valdez tanker ran aground in southeastern Alaska on March 24, 1989, spreading an 11-million-gallon crude-oil inkblot into Prince William Sound, the formerly pristine coastal waters once again appear clean and untouched...
...recently saw somewhat of a panic with swine flu. Are viruses the thing that's going to wipe this planet clean, as opposed to nuclear bombs? It certainly is the one threat that seems to allow us to be irrational about things. A nuclear attack requires a device, it can be intercepted, it can only affect a certain area. There is a logic to the way it spreads. But a virus grows exponentially. Every time it expands, there's a casualty. It's closer to a panic - closer, therefore, to a very primal fear...
...manager at the quant hedge fund AQR Capital Management. But when the forward-looking VaR suddenly rose—reflecting a dramatic increase in risk—warning signs went unheeded.“People have a tendency to ignore that and to say, ‘Well, just clean up the numbers,’” Brown says. “If the model never surprises you, the market surprises you instead.”In light of these problems in the risk management process, Merton argues for more education in quantitative techniques, instead of shying away...
...stairwell rising up the side of the edifice) and the rounded balconies on which you expect a ship's captain and a socialite to appear with martinis. Taking the nautical look to extremes, a few Bauhaus buildings even have a row of portholes running along the side. The clean Modernist lines are usually set off by palm trees, or explosions of magenta and tangerine bougainvillea - a tropical extravagance of color that Gropius and Mies never would have dreamed of in their wintry Weimar. We trust that the dour old minimalists would have approved...
...different from, and in some way superior to, labor executed by the hands. Why? A clever speech, a lively poem, and a novel scientific discovery all possess an inherent and self-secure beauty that demands no propping up through comparison. A well-built chair, a useful trinket, and a clean bathroom—these too are things of beauty and of humanity. Our own labors are not diminished by a broad extension of this franchise of value...