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To: jim black who wrote (3427)	5/4/2001 11:30:32 AM
From: smolejv@gmx.net	Read Replies (2) \| Respond to of 74559

Hi JB: May I suggest a very sound reading in between the chapters? prudentbear.com Re derivatives - as a physicist (hey, this is slowly becoming a Leon's club for Gods sake...) I had a full share of theory and practice on derivatives. Here's one: dP/dt = Rate * P This is ...(Multiple answers allowed): a) time derivative of P is something times P itself... Huh? b) Gimme a break, that's a simple linear, first-order diff. equation - solution P(t) = P(t=0) * (1+ exp(rate * t)) c) this how the interest works on my capital d) this is how the bomb works (which bomb?...) dj

To: jim black who wrote (3427)	5/4/2001 12:16:25 PM
From: Gary H	Respond to of 74559

The "Devil Take the Hindmost" is on my list now. It sounds somewhat like "A Brief History of Financial Euphoria" by John Kenneth Galbrath. Interesting read. All this has me in the mind to re-read "The Great Reckoning" by Davidson & Ress-Mogg.

To: jim black who wrote (3427)	5/4/2001 11:44:04 PM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Re: tulips. Was it all as crazy as it seems at this far remove? Let us consider two tables - both of which look identical. On one of them, Oliver Cromwell signed the death warrant of Charles I. On the other, a family ate their meals for generations. You know and I know why the first table is worth more than the second table - but it's a hard concept to describe. The simplest explanation is that it is unique - and its unique history is inextricably interwoven with an importamt event. The tulips which commanded incredible prices during Tulipmania were not just any old tulips. Just as a painting by van Gogh is not just any old painting. Don't be so quick to assume that people who lived a long time ago were stupider than we are.