NIFTY 50 _bulls

sudoku1

Well-Known Member
#41
You cant divide by 0.
Why not? Well, because if youtry to, no matter what answeryou write down, it wont makesense. Take 6 divided by 0. What should that equal? A lotof people guess 0. But that doesnt work. If 6 divided by 0were equal to 0, that would mean that 00 would have to equal 6 (just as 6 divided by 2 equals 3 means that 23 equals 6). The trouble here is that 6 divided by 0 cannot equal any number, because any number times 0 always gives 0, not 6. This is why division by 0 is verboten.
 

del_66

Well-Known Member
#43
You cant divide by 0.
Why not? Well, because if youtry to, no matter what answeryou write down, it wont makesense. Take 6 divided by 0. What should that equal? A lotof people guess 0. But that doesnt work. If 6 divided by 0were equal to 0, that would mean that 00 would have to equal 6 (just as 6 divided by 2 equals 3 means that 23 equals 6). The trouble here is that 6 divided by 0 cannot equal any number, because any number times 0 always gives 0, not 6. This is why division by 0 is verboten.
 

sudoku1

Well-Known Member
#46
Article frm NY TIMES ...SOME years ago, executives at a Houston airport faced a troubling customer-relations issue. Passengers were lodging an inordinate number of complaints about the long waitsat baggage claim. In response, the executives increased the number of baggage handlers working that shift. The plan worked: the average wait fell to eight minutes, well within industry benchmarks. But the complaints persisted.
Puzzled, the airport executives undertook a more careful, on-site analysis. They found that it took passengers a minute to walk from their arrival gates to baggage claim and seven more minutes to get their bags. Roughly 88 percent of their time, in other words, was spent standing around waiting for their bags.
So the airport decided on a newapproach: instead of reducing wait times, it moved the arrival gates away from the main terminal and routed bags to theoutermost carousel. Passengersnow had to walk six times longer to get their bags. Complaints dropped to near zero.
This story hints at a general principle: the experience of waiting, whether for luggage orgroceries, is defined only partlyby the objective length of the wait.
 

sudoku1

Well-Known Member
#49
In the Postscript chapter of The Intelligent Investor, Graham described two partners of an investment firm who put roughly 20% of the assets they managed into a single stock a highly unusual departure for the conservative managers, who normally diversified widely and seldom invested more than 5% or so in any one holding.
The stock went on to a more than 200-fold gain, and the investment managers didnt sell it even though they couldnt justify keeping it on the basis of their typical standards of valuation.
In short, they broke their rules to buy the stock, and they broke their rules to keepit.
Graham added:
Ironically enough, the aggregate of profits accruing from this single investment decision far exceeded the sumof all the others realized through 20 years of wide-ranging operations in the partners specialized fields, involving much investigation, endless pondering, and countless individual decisions.
Are there morals to this storyof value to the intelligent investor? [One] is that one lucky break, or one supremely shrewd decision can we tell them apart? may count for more than alifetime of journeyman efforts.
The company was Geico. The investment fund was Grahams own, Graham-Newman Corp. The value of the holding went from a little over $700,000 at the outset to more than $1 billion at its peak.
In a footnote, Graham explained that the original deal to buy Geico nearly fell apart when he and his partner, Jerome Newman, in negotiations to buy the stock from Geicos founders, quibbled over a $50,000 accounting entry. By dumb luck they got what they insisted on, he recalled.
The next time you find a fund manager boasting about how skillful he is at picking investments, remember that the great Benjamin Graham credited much of his own phenomenal success to luck alone.
 

Similar threads