Working Through the Book Log

The Savers-Spenders Theory of Fiscal Policy[pdf]

Mankiw creates a simple heterogeneous theory - positing that some people have very high discount rates and some people have very low discount rates, then cranks through the math. Most of his conclusions seem to fit my intuitions, although I suppose that doesn't actually mean anything.

The value of not being sure

A two page article, originally published in Value Investor Insight, is a terse, deeply insightful look at the current market thought a value investor's eyes. I have just been turned on to the author Seth Klarman; if this is his usual manner of thinking, I feel certain I will not be disappointed in the future.

Duffer's Drift

This is a fun little book about small unit tactic - some basic lessons that anyone who is an armchair tactician should keep tucked in the back of their heads.

MauMauing the Flak Catchers

Nice essay by Tom Wolfe. It's a nice dose to counter (unwarranted) idealism.