To: TobagoJack who wrote (17755 ) 4/26/2007 1:59:07 PM From: Maurice Winn Respond to of 218740 TJ, maths is a funny thing. I use it sort of these days only in a very approximate way, along the lines of, "Hmmmm, the discounted cash flow of CDMA royalties should end up at about, oh, I guess there. So QCOM's share price, given the normal distribution curve of future possibilities, reduced to total guesswork, should end up about umm, there. Since it is ... Yahoo! says there. That looks okay. It is decades since Fourier transforms in anger and third order partial differential equations in earnest darkened my door. I haven't had to use them to whack something into submission for a very long time. Though, ironically, they supply me my goods and services and Chinese are buying them from me by the dozen and Chinese are studying their esoteric ways then lining up to join the CDMA throng, phragmenting photons and pixelating protons. It is good that people in Hong Kong are keen to do maths. But a bit of Euclidean geometry isn't enough. They need to do the calculations with a space-time variation across that prism with a financial black hole at the centre and the event horizon growing. How fast does BD have to grow for point X to remain outside the event horizon? Maths is about making the future predictable. Ironically, the more people have done maths, the less predictable life has become. Once upon a time, when people had 10 fingers and similar numbers of toes, depending on accidents and so on, and they were used for biosphere activities rather than counting, life was more predictable. Born, eat, root, die. Now it's all over the map and nobody has any idea what's going on, so they are reduced to clutching little gold totems and chanting weird stochastic incantations to the g-ds of financial relativity theory. Oh, sure, there are PhD mathematicians doing Black Scholes financial calculations and statistical shenanigans using megaflops of processing power, but financial relativity theory black holes lie in wait for their Black Scholes and sure enough, beyond the event horizon and down the gurgler went Long Term Capital Management. The financial gravity of umpty trillion $yenyuanpoundmarkkiwi is enormous, with debt stacked on leverage, counterpartied with puts and scaled up with calls, in and out of the money in a web of self-balancing borrow and hope. I hope some Hong Kong people have done some arithmetic and have ensured that it's all nicely balanced. In 1987 we visited: en.wikipedia.org Where we found: grunch.net farm1.static.flickr.com There was recently a severe storm, but fortunately, the structural integrity was okay: kmm.nl I wonder what would happen if the wire at the bottom had a weak counter party where the puts connect to the calls in the midst of the Black Scholes stochastics and a breeze came up at the top. Tension seems to be what keeps that Needle Tower up, with no visible means of support. It's quite a sight when approaching it. Meanwhile, QCOM results out yesterday and as usual, up, up and up some more. People in Hong Kong will find CDMA much more useful than Euclidean geometry. It's obvious that when China's soldiers entered Aladdin's Cave in Hong Kong, they figured that it would be better for China to copy Hong Kong, than the reverse - at least as far as cash flow goes. It's not surprising that you show little gratitude for the wondrous British having got Hong Kong on the right track for a century. People are like that. Mqurice