Drops from the Fire Hose – October 22, 2012

Jon Stewart Proposes an Entrepreneurial Policy. Don’t Laugh. — New York Times

What we need to do in this country is make it a softer cushion for failure. Because what they say is the job creators need more tax cuts and they need a bigger payoff on the risk that they take. … But what about the risk of, you’re afraid to leave your job and be an entrepreneur because that’s where your health insurance is? … Why aren’t we able to sell this idea that you don’t have to amplify the payoff of risk to gain success in this country, you need to soften the damage of risk?

The Problem with Most Active Money Managers…. — Pragmatic Capitalism

But Miller is just one case of no value add in a sea of money managers who don’t add value.  It’s a widespread case of the Warren Buffett disease taking hold of Wall Street.  I’ve theorized in the past that a horrible myth has overcome Wall Street.  The Myth of Warren Buffett.  This is the myth that you can beat the market by picking value stocks and just buying and holding.  Just like old Warren does!  Except, that’s not at all what Warren Buffett does.  Buffett runs one of the most complex multi-strategy investment portfolios that exists in the world.  It’s essentially a dynamically leveraged option writing, dollar cost averaging, active management, distressed asset approach.

Computer programmer ‘quadruples productivity’ after hiring a woman to slap him in the face every time she catches him looking at Facebook — Daily Mail

‘Now that the average worker’s job is to sit in front of a computer, often with no supervision, it’s no surprise that we are only productive a three days each week.

‘Having worked mostly alone, on my computer, I found that the majority of my time is spent unproductively.’

He added: ‘Nothing makes me more embarrassed than seeing the amount of hours I spend wasted on Reddit and Facebook chat.

‘I figured ‘This is stupid, why am I wasting this time doing nothing? When I have a boss, or someone of authority watching me, I always get my work done. How can I simulate the authority figure?’

‘Naturally, I believe that an authority figure should have real authority.

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