Sept 18, 2014

Four accounting students accompanied me to the regular monthly meeting of San Antonio Institute of
Internal Auditors. 

From left to right that is Beatrice Therwhanger, Pauline Glenn, Catherine Spillar, and Justin Mire. 

 

 

 

 

 

 

 

The program was on a management theory that struck me as a sort ofderivative of the Peter Principle.

Bradley Hunt at whyllc.com presented on a management topic. The idea was a quadrant labeled commitment on one axis and competence on the other. Bradley apparently thought this was of incredible value and should be taught in college. He named the presentaiotn Leading with X Ray Glasses. While he
displayed an old advertisement from the 1950s for the one daollar a pair glasses I neve quite connected the title with the presentation. 

 

 

 

 

 

 

Justin and I sat with the USAA internal auditors. We learned that they use ACL software. And their sample sizes can run to five million data entries. 

Thursday Sept 18 2014

Instead of helping big banks, the FED for the same cost could have given every family in America $56,000. 

Simplest is bestest.

Wed Sept 17 2014

Last week I suggested that we should expand out world by venturing to some of the cultural features of San Antonio. We have no lack of fine museums, historic sites like the Missions just west of Brooks Campus and multiple theaters with live productios. That effort netted exactly one response and a big yawn from everyone else. 

Never one to give up easily, in today's WSJ we read about the Google Cultural Institute.

Google is digitizing all sorts of art works, photographs and museum exhibits so one can enjoy them on line without going to the museum. Now here is a great use for an iPad with retina display. 

And here is a great way to educate yourself to a higher level of cultural awareness. 

Of course you have to be interested in doing just that. 

At any rate, check it out. 

Tuesday Sept 16, 2014

I do not normally use this space to discuss class but will do so today. 

Your failure to plan does not constitute an automatic emergency on my part

What is the relationship of the War of 1812 to attending TAMUSA as an accounting student?

The War of 1812 was between Britain and the USA. The cause was that Britain was forcing Americans into the British Navy by shangahai on the High Seas. 

Here at TAMUSA, we do not shanghai or kidnap you into servitude. You have volunteered. We lay out the requirements in a syllabus. Indeed as the article in the WSJ today states, one needs to lay out quiet time to read. Ditto, same for accounting. 

Now, some of you have been asking for me to post the answers to the homework problems. The answers to the homework problems are all available on MH Connect but only after you attempt to work the homework problems. You will never know what you do not know unless you attempt the problems first without looking at the answer. Then you will be prepared to take the weekend quiz. 

Now, excuses for not taking the quizzes on the weekend have included

I forgot

did not have time

were too busy

wre out of town

my computer was broken

Connect would not work for me

was with a relative or friend in the hospital

At this point it would be good to re read the first line of this article. The method of delivery is not going to change. You volunteered to take the class. The quizzes are on the weekend. I am not going to re set quizzes for any and every one who could not find time to do what they promsed to do  by enrolling in class. 

I believe that this sort of littany of excuses suggests some do not understand the purpose of the quiz. The purpose is for you to test your understanding BEFORE a more important exam. The purpose is not simply to accumulate some points in the class. By taking the quiz you and I both receive feedback on your proress. And there are quizzes on the spiceland web site. 

As one of my friends said about being on the credit commtte of a local bank. The most important word in the English language is NO. 

Now the vast majority of you are complying with the rules, thank you. 

Welcome to college, the ultimate test of self reliance. 

 

 

Tuesday Sept 16 2014

What did you do this morning, to get ready for school that is?

This past weekend I summarized the markets, the results are here at 

http://www.themarketperspective.com

This morning I checked the markets, looks like a down opening again, as well as several accounting e mails I receive from various sources.

Next to the WSJ

• Obama's coalition is not, Arab Divide Roils Coalition
• The most interesting article is surely Gerry Sieb's on page A4, three hidden worries, that ISIS wants a confrontation to boast of its success (this explains the be headings), fearing a diminished role other terrorists will be emboldened to stage attacks, and America enthusiasm for all of this might quickly wane when the next John McCain, an airman shot down over enemy territory is shown on tv
• ON page A13 Bret Stephens wonders what Scotland thinks it will accomplish without Britain, and that secession could lead to a ripple like secession movement across Europe
• Read this as Slowly as you Can – Page D1 tips on how to read for comprehension, results of studies show that many people do not read all the way across the page, allow 30-45 minutes of quiet time, pick a paper book which you will notice lying around, it is challenging you to complete it, they are right, when closed the books in my Kindle go to sleep
• articles on Alibaba and Apple moving to digital payments challenging Paypal at E Bay

Monday Sept  15 2014

One of my research interestes revolves around socionomics, the idea that social mood determines the course of society.

Considerr this quote from the Editor of  the WSJ Monthly Magazine. It appeared this weekend.

It's no wonder our cover subject Pharrell Williams made a hit song called Happy, the pop star is a walking embodiment of good cheer, spreading chart topping positive vibes to a mass audience.

Kristina O Neil, Editor,  WSJ Monthly Magazine, today

This exhibit of positive social mood on display is exactly what powered the stock indexes to new highs.  It will take a change in the music tone to take down the market.

Next read the article, on page B1 of today's WSJ, Investor Silicon Valley Partying Like It's 1999. Bill Gurley , an investor in successful tech startguyps like Zillow, notes the social mood similar to past market tops in 2000 and 2007.

Take a look at the first graph in my http://www.themarketperspective.com blog, we wil dicuss it in class

 

Monday Sept 15 2014

Here is another in my series of there is no magic accounting setting series. This is a five minute time lapse illustrating an artist drawing a portrait of Robin Williams.  It took her over 24 hours to complete however.

Once again there is no easy way to success. It takes time and effort.