Assorted links

1. Why does Japan have such a high savings rate?

2. Trying to seem smart makes others seem stupider to you.

3. Why did outpatient spending take off in 1983?

4. The horse racing carry trade.

5. Laura Miller reviews the Google eBookstore.

6. Adam Smith's dictum again, for the hand model (highly recommended; she claims her hands have not seen the light of day for fifteen years.  Somehow deeply creepy, and there is one question she does not address).

Comments

#6 You don't have to worry about her. She won a contest.

#6 is straight out of a Christopher Guest movie

RE Trying to seem smart makes others seem stupider to you:

That sounds a bit like a corollary of Smith's sympathy ideas, in particular, modulating yours and entering into the other's so as coordinate a meeting of sentiment.

Perhaps one who is trying to "seem smart" is set on not doing just that.

Maybe the Japanese savings rate isn't so much high as the rate in the U.S. is low. I have a hard time believing the savings rate in Japan is really so low when every other corner I turned in Tokyo there was a Prada, Burberry, Gucchi, etc.

Is true arbitrage really a carry trade? And you would hardly place the matched bets on horse races, which would be nigh impossible.

It's people like that guy who have ruined gambling arbitrage for the rest of us, though I am out of the game now.

CorcoranCadet: I suggest you click on the link.

' Is true arbitrage really a carry trade? And you would hardly place the matched bets on horse races, which would be nigh impossible.

It's people like that guy who have ruined gambling arbitrage for the rest of us, though I am out of the game now. '

Posted by: Cliff at Dec 8, 2010 2:24:26 PM

In Britain there are betting exchanges where punters bet against each other with the exchange taking a commission. So someone obtaining free bets in a promotional offer from a bookmaker can bet a horse to win with the free bet from the bookmaker. Lay the same horse to lose on the exchange and can't lose either way. On the Betfair exchange traders bet horses to win and lay to lose within seconds of each bet locking in profits regardless of the result of the race. Moreover, there is no limit to how many times the same capital can be turned over.

@ Cliff

Run of the mill UK horse races will match around $1 million on Betfair. The big UK festival meetings considerably more. Betfair itself matches more trades daily than all the European stock exchanges combined. For arbitrage other sports with only two outcomes or sometimes three are obviously better. Most big sporting events generate more matched trades in-play than pre-game. The advantage for short duration traders seeking to lock in profits is commission is only paid on net profit of each market rather than each trade. Moreover, gambling winnings are tax-free in the UK. The bookmakers pay tax on their gross profits. This third party software provider covers some of the stuff I am speaking about.
http://www.betangel.com/

What happened in 1983 to shift people from inpatient to outpatient care? Perhaps checking in as an inpatient in a hospital wasn't seen as all that bad until St. Elswhere aired: "St. Elsewhere is an American medical drama television series that originally ran on NBC from October 26, 1982 to May 25, 1988. The series is set at St. Eligius, a decaying urban teaching hospital in Boston's South End neighborhood." (http://en.wikipedia.org/wiki/St._Elsewhere). I know ER is a product of the nineties but I'm sure some other medical-drama-as-horror-movie show filled the gap.

I'm joking... but only a bit.

Comments for this post are closed