What It’s Like Attending the New York Times “Page One” Meeting

A few weeks back my friend Millie Tran invited me to attend the daily morning News meeting at the New York Times. I’ve been a HUGE Times fanboy since growing up in NY and while I’ve had the chance to visit their offices many times, I’d never seen the inner workings like this. Well, at least not outside of the famous documentary Page One (the morning news meeting *used* to be called the “Page One” meeting during the Times’ more print-centric days).

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Scene from the Page One meeting, circa 2003

What I didn’t tell Millie was that I wouldn’t be attending alone. You see, when I travel my daughter gives me one of her stuffed animals to take along and send her back pictures of our adventures together.

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The News meeting is staffed in-person by all the top editors and called into by the Washington bureau and any other editorial

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Continue reading "What It’s Like Attending the New York Times “Page One” Meeting"

The MBA and Venture Capital

Ran across a piece where the University of Wisconsin said they were starting to think about dropping their MBA program.  Big Education is in a tough spot.  It’s expensive to go to college these days.  You can find ways around it, but if you want to go to a top school the cost is not cheap.  There is an incentive to go because college grads generally do better than high school grads.

The University of Iowa stopped offering the MBA and so did Wake Forest.  There clearly is something going on.  The elite schools that are always at the top of the rankings still have demand.

Matriculating to graduate school is another issue.  If you thought college was expensive, graduate school is even more expensive.  There is not only the cost of school but the opportunity cost of not working.

I have Continue reading "The MBA and Venture Capital"

A Great Discussion on Churchill and Orwell

I thought this was a great discussion. Hope you enjoy it too.

Yesterday I was at a lunch and picked up a book on Winston Churchill called “No More Champagne”. Churchill saved western civilization almost singlehandedly.   The author David Lough said his mother was the largest influence on his life.  She was American.  Churchill was seen by the elites in Great Britain as what JK Rowling might call a “mudblood”.

A Great Discussion on Churchill and Orwell

I thought this was a great discussion. Hope you enjoy it too.

Yesterday I was at a lunch and picked up a book on Winston Churchill called “No More Champagne”. Churchill saved western civilization almost singlehandedly.   The author David Lough said his mother was the largest influence on his life.  She was American.  Churchill was seen by the elites in Great Britain as what JK Rowling might call a “mudblood”.

Is There A Problem With Short Term Trading?

One thing that is interesting to me is the diatribes against short-term trading in markets.  If a trade is made and exited in the blink of an eye, does it hurt the company or the market?  A lot of people think it does.  I don’t.

When I made trades, I often scalped the market for a tick here and a tick there.  In the old days, you could pull down a pretty good living doing that.  Today, computers do it.  What if they weren’t there?

The bid/ask spreads on stocks and commodities would be a lot wider increasing the all-in cost to trade.

This is sort of a thing that sticks in my craw for some reason and another reason I don’t like the premise behind the Long Term Stock Exchange.  There is no conflict between long-term and short-term holders of stock.  They both want appreciation Continue reading "Is There A Problem With Short Term Trading?"

Ruling out rather than ruling in

One of the dangers of working alone is that when you start doing things oddly there’s noone to call you on it. It’s almost nine and a half years since I started angel investing as a full-time thing, plenty of time to develop strongly held beliefs that happen to be completely wrong. The only thing that keeps me grounded is reality: actual outcomes.

When results come in I re-examine my decision processes. What was it about this company that allowed me to get a good return on my investment? What should I have seen to prevent me from investing in this other company where I lost money? Actually doing this, versus sort-of doing it, is something I have to be conscious about; the alternative is letting my brain do the work behind the scenes, and human brains are so notoriously bad at this they just gave a Nobel Prize to one of the people who Continue reading "Ruling out rather than ruling in"

Ruling out rather than ruling in

One of the dangers of working alone is that when you start doing things oddly there’s noone to call you on it. It’s almost nine and a half years since I started angel investing as a full-time thing, plenty of time to develop strongly held beliefs that happen to be completely wrong. The only thing that keeps me grounded is reality: actual outcomes.

When results come in I re-examine my decision processes. What was it about this company that allowed me to get a good return on my investment? What should I have seen to prevent me from investing in this other company where I lost money? Actually doing this, versus sort-of doing it, is something I have to be conscious about; the alternative is letting my brain do the work behind the scenes, and human brains are so notoriously bad at this they just gave a Nobel Prize to one of the people who Continue reading "Ruling out rather than ruling in"