Read the little story below. It is sad that those who endeavor to live a moral life are not sufficiently savvy and wise about the ways of the other side. This makes me wonder how well founded is the moral life we see and recognized around us. Where is the shrewdness of Christ?
'Bless me Father, for I have sinned.
I have been with a loose girl'.
The priest asks, 'Is that you, little Joey Pagano ?'
'Yes, Father, it is.'
'And who was the girl you were with?'
'I can't tell you, Father. I don't want to ruin her reputation'.
"Well, Joey, I'm sure to find out her name sooner or later
so you may as well tell me now. Was it Tina Minetti?'
'I cannot say.'
'Was it Teresa Mazzarelli?'
'I'll never tell.'
'Was it Nina Capelli?'
'I'm sorry, but I cannot name her.'
'Was it Cathy Piriano?'
'My lips are sealed.'
'Was it Rosa DiAngelo, then?'
'Please, Father, I cannot tell you.'
The priest sighs in frustration.
'You're very tight lipped, and I admire that.
But you've sinned and have to atone.
You cannot be an altar boy now for 4 months.
Now you go and behave yourself.'
Joey walks back to his pew,
and his friend Franco slides over and whispers,
'What'd you get?'
'Four months vacation and five good leads.'
Friday, November 6, 2009
Whatever will be, will be.
Whatever will be, will be. Sure, we can work hard but we live in a world of increasing Black Swans. We are learning to get used to the impossible happening. It is an oxymoron of course. By definition you cannot get used to surprises.
Wednesday, November 4, 2009
Circle of Competence
The FT summarizes Warren Buffet latest deal: Burlington Northern (BNSF) very well.
Bankers said the BNSF take-over was typical of Mr Buffett: a deal at a low point in the economic cycle for a group with few rivals in a sector set to benefit from long-term trends such as rising oil prices and stricter environmental standards.
This is his biggest bet ever but also a classic display of operating within his circle of competence.
Everyone should try to develop his/her circle of competence and update that circle continuously to stay relevant. Most of us will do this outside of investing and perversely will maintain a circle of ignorance. Some will pass it to financial advisers, who sadly live in a circle of ignorance too.
Bankers said the BNSF take-over was typical of Mr Buffett: a deal at a low point in the economic cycle for a group with few rivals in a sector set to benefit from long-term trends such as rising oil prices and stricter environmental standards.
This is his biggest bet ever but also a classic display of operating within his circle of competence.
Everyone should try to develop his/her circle of competence and update that circle continuously to stay relevant. Most of us will do this outside of investing and perversely will maintain a circle of ignorance. Some will pass it to financial advisers, who sadly live in a circle of ignorance too.
Our health care system
Stanley Jeremiah is mostly correct. Good reminder. Just because most of us didn't need to call upon the system in a catastrophe we forget.
Below his response to the WSJ op-Ed article.
LETTERS NOVEMBER 3, 2009, 5:40 P.M. ET
Singapore Has Health-care Hurdles Too
William McGurn's column "What Singapore Can Teach the White House" (op-ed, Oct. 21) paints an inaccurate picture of Singapore's health-care system and the costs it incurs.
Singapore does not have "universal coverage," as Mr. McGurn asserts. Even the government has admitted that in a country of about three million citizens, tens if not hundreds of thousands of Singaporeans do not have any basic medical insurance coverage, which is provided through government agencies. Many of the uninsured are women and children.
In Singapore, as in the United States, there are people who are uninsured and uninsurable. Even the government's basic health-insurance program, Medishield, refuses to provide cover for those with pre-existing and congenital medical conditions. Parents of a child with a congenital condition have to carry the entire medical cost burden themselves.
It is true that medical costs in Singapore are generally lower than the U.S., but the average Singaporean does not enjoy the same per capita income or standard of living as the average American. Medical costs are significantly higher than in neighboring countries. The minister of health recently admitted in Parliament that many Singaporeans regularly cross the causeway into Malaysia to buy prescription drugs because they are much cheaper there.
The quality of Singapore's medical care is high, but as in the U.S., cost is a pressing issue. To some extent, the situation has been cushioned by the collective responsibility of Asian families, where the larger family chips in to pick up the medical cost of a parent or sibling. Yet these social structures are slowly breaking down. Singapore has an aging population and the baby boomers are the most exposed. Having paid for their parents' medical costs, they have no one to pick up to the tab for them. To avoid picking up the cost for those who cannot pay, the government includes siblings and children—including those living overseas—in their means-testing assessment. Employers provide some level of health-care insurance but these programs are often not portable.
Singapore spends roughly 4% of its annual GDP on health care—one of the lowest outlays in the developed world. The average Singaporean cannot afford to use the upscale Raffles Hospital to which Mr. McGurn refers in his article. They have to wait in line at government-managed hospitals. The 2009 budget allocated 3.7 billion Singapore dollars ($2.6 billion) to health care; by contrast, S$11.5 billion was allocated to defense.
Singapore's medical-savings accounts, known as "Medisave," are not fully controlled by their owners. Withdrawals are subject to a complex set of rules which the Ministry of Health changes from time to time—a process that often baffles the average Singaporean.
In many ways, Singapore is heading in the same direction as the U.S. when it comes to health care. While a high quality of care is available, it is not always accessible or affordable. People unfortunate enough to be born with or develop significant medical conditions can find the cost financially crippling to themselves and to their families.
Stanley Jeremiah
Singapore
Below his response to the WSJ op-Ed article.
LETTERS NOVEMBER 3, 2009, 5:40 P.M. ET
Singapore Has Health-care Hurdles Too
William McGurn's column "What Singapore Can Teach the White House" (op-ed, Oct. 21) paints an inaccurate picture of Singapore's health-care system and the costs it incurs.
Singapore does not have "universal coverage," as Mr. McGurn asserts. Even the government has admitted that in a country of about three million citizens, tens if not hundreds of thousands of Singaporeans do not have any basic medical insurance coverage, which is provided through government agencies. Many of the uninsured are women and children.
In Singapore, as in the United States, there are people who are uninsured and uninsurable. Even the government's basic health-insurance program, Medishield, refuses to provide cover for those with pre-existing and congenital medical conditions. Parents of a child with a congenital condition have to carry the entire medical cost burden themselves.
It is true that medical costs in Singapore are generally lower than the U.S., but the average Singaporean does not enjoy the same per capita income or standard of living as the average American. Medical costs are significantly higher than in neighboring countries. The minister of health recently admitted in Parliament that many Singaporeans regularly cross the causeway into Malaysia to buy prescription drugs because they are much cheaper there.
The quality of Singapore's medical care is high, but as in the U.S., cost is a pressing issue. To some extent, the situation has been cushioned by the collective responsibility of Asian families, where the larger family chips in to pick up the medical cost of a parent or sibling. Yet these social structures are slowly breaking down. Singapore has an aging population and the baby boomers are the most exposed. Having paid for their parents' medical costs, they have no one to pick up to the tab for them. To avoid picking up the cost for those who cannot pay, the government includes siblings and children—including those living overseas—in their means-testing assessment. Employers provide some level of health-care insurance but these programs are often not portable.
Singapore spends roughly 4% of its annual GDP on health care—one of the lowest outlays in the developed world. The average Singaporean cannot afford to use the upscale Raffles Hospital to which Mr. McGurn refers in his article. They have to wait in line at government-managed hospitals. The 2009 budget allocated 3.7 billion Singapore dollars ($2.6 billion) to health care; by contrast, S$11.5 billion was allocated to defense.
Singapore's medical-savings accounts, known as "Medisave," are not fully controlled by their owners. Withdrawals are subject to a complex set of rules which the Ministry of Health changes from time to time—a process that often baffles the average Singaporean.
In many ways, Singapore is heading in the same direction as the U.S. when it comes to health care. While a high quality of care is available, it is not always accessible or affordable. People unfortunate enough to be born with or develop significant medical conditions can find the cost financially crippling to themselves and to their families.
Stanley Jeremiah
Singapore
Shell plans to cut 5,000
Got an email yesterday from an ex colleague who like me has left the company many years ago. He told me that Shell is planning to cut 5,000 headcount or about 10% of its work force. I wonder what it must be like had we stayed with the company. On and off I have heard unhappy stories from some of those who are still working there. Just a couple of months back, I was at a retirement dinner for one of my seniors. He used to be so enthusiastic about his work. When I met him again after more than ten years, his attitude couldn't be more different.
The cultures of so many large companies have changed so much in a short time.
The cultures of so many large companies have changed so much in a short time.
Tuesday, November 3, 2009
After the peaceful rise of China
What can we expect after the peaceful rise of China? Will it take a stick to Japan to get even with what she has done to China during the World War II? Will she be a bully?
Nov 3, 2009
MM's speech in US draws flak online in China
BEIJING: Minister Mentor Lee Kuan Yew's comments that the United States should remain engaged in East Asia have drawn criticism on the website of a state-owned newspaper in China.
The Chinese-language Global Times, a sister publication of the flagship People's Daily noted for its international coverage, said it reported on Sunday a speech Mr Lee made in Washington last week, and within hours, it claimed to have received more than 500 comments online.
In his keynote address delivered at the US-Asean Business Council's 25th anniversary gala dinner last Thursday in Washington, MM Lee said the US should remain engaged in Asia. 'The size of China makes it impossible for the rest of Asia, including Japan and India, to match it in weight and capacity in about 20 to 30 years. So we need America to strike a balance.'
He also warned Washington that it risked losing its global leadership if it did not remain engaged in Asia.
MM Lee was conferred a lifetime achievement award for helping to foster US-Asean relations at the dinner last week.
Many of those who responded were upset and said that MM Lee had treated the Chinese as outsiders although they had treated Singaporeans as 'among their own'.
'Lee Kuan Yew spoke for the feeling of those in the West who fear China's rise would harm their vested interests,' said one netizen.
Another described MM Lee as 'a political animal', saying that while he 'relies on China to develop his country's economy, he is ushering wolves here to deal with China'.
A third posting said: 'Just because he has achieved some success in Singapore, he dares to play the guiding light that shows US the way. If he has the stuff, he should go to Africa and offer tips on how to shake off poverty and achieve wealth.'
Another posting brushed off his comments as insignificant as Singapore was a small country. 'Lee Kuan Yew had made such comments likely because Singapore is a small country that needs an interplay of balances in the international arena,' said the netizen.
'However, what significance do his words carry when the reality is that for a voice to be heard and the views realised, one needs to be truly powerful?' the netizen added.
Nov 3, 2009
MM's speech in US draws flak online in China
BEIJING: Minister Mentor Lee Kuan Yew's comments that the United States should remain engaged in East Asia have drawn criticism on the website of a state-owned newspaper in China.
The Chinese-language Global Times, a sister publication of the flagship People's Daily noted for its international coverage, said it reported on Sunday a speech Mr Lee made in Washington last week, and within hours, it claimed to have received more than 500 comments online.
In his keynote address delivered at the US-Asean Business Council's 25th anniversary gala dinner last Thursday in Washington, MM Lee said the US should remain engaged in Asia. 'The size of China makes it impossible for the rest of Asia, including Japan and India, to match it in weight and capacity in about 20 to 30 years. So we need America to strike a balance.'
He also warned Washington that it risked losing its global leadership if it did not remain engaged in Asia.
MM Lee was conferred a lifetime achievement award for helping to foster US-Asean relations at the dinner last week.
Many of those who responded were upset and said that MM Lee had treated the Chinese as outsiders although they had treated Singaporeans as 'among their own'.
'Lee Kuan Yew spoke for the feeling of those in the West who fear China's rise would harm their vested interests,' said one netizen.
Another described MM Lee as 'a political animal', saying that while he 'relies on China to develop his country's economy, he is ushering wolves here to deal with China'.
A third posting said: 'Just because he has achieved some success in Singapore, he dares to play the guiding light that shows US the way. If he has the stuff, he should go to Africa and offer tips on how to shake off poverty and achieve wealth.'
Another posting brushed off his comments as insignificant as Singapore was a small country. 'Lee Kuan Yew had made such comments likely because Singapore is a small country that needs an interplay of balances in the international arena,' said the netizen.
'However, what significance do his words carry when the reality is that for a voice to be heard and the views realised, one needs to be truly powerful?' the netizen added.
Monday, November 2, 2009
NaviMap
After a break of looking at my notes for so many years, I am reviewing them again. Perhaps this time I would be able to resolve the open issues and ambiguities.
- Posted using BlogPress from my iPhone
- Posted using BlogPress from my iPhone
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