Fiscal responsibility. Four babies!
I love it.
Mentioned in today's WSJ and on my Feed Demon now.
Felt like sharing for no good reason. I'm not very up on econo-blogs so this is probably old news to thoughtful readers.
No energy for the longer post I had been planning to pen tonight. Cannot wait to live with husband again.
Trying to figure out if I should keep blogging once I leave Chicago and what my theme will be post-MBA ...
Showing posts with label politics. Show all posts
Showing posts with label politics. Show all posts
Friday, July 17, 2009
Monday, January 26, 2009
"Six errors on the path to the financial crisis"
Here. Here. The mess we're in was the direct product of human folly - not some unforseen natural disaster. Very short opinion piece by Alan Blinder. Summarized:
- Derivatives unchecked
- Mind boggling leverage
- Decline in lending standards + regulatory gaps
- Belated response to foreclosure surge
- Letting Lehman fail
- TARP's inconsistencies
That we could muster collective stupidity on such a level is the surprising thing. Not that it all fell to pieces.
Tuesday, November 04, 2008
Tuesday, October 28, 2008
Someone is feeling optimistic
So it looks like Mr. Marks of Oaktree seems to be of the opinion that our sense of gloom may have reached a nadir, making this a good time to join the contrarians in the optimistic camp. Latest memo here: http://www.oaktreecapital.com/memo.aspx. (until replaced by the new memo) I have a great deal of respect for Marks, and find the idea appealing, but I still have deep reservations about the ability of the U.S. economy to create prosperity in the coming years as our resources go towards salvaging the wreck rather than making long-term investments that increase productivity. I would not be surprised by a multi-year stagnation in the equity markets.
But in regards to my personal circumstances, my outlook is becoming somewhat more positive as I will have my last on campus interview next week and can then can ignore recruiting land for the next 7 months or so. The lack of recruiting opportunities, at the moment, feels more freeing than stressful. So that's good.
More specific MBA posts coming soon ... ish. And, as always, topic requests welcome. If find it harder to know what to write about as I get further from the applicant stage.
But in regards to my personal circumstances, my outlook is becoming somewhat more positive as I will have my last on campus interview next week and can then can ignore recruiting land for the next 7 months or so. The lack of recruiting opportunities, at the moment, feels more freeing than stressful. So that's good.
More specific MBA posts coming soon ... ish. And, as always, topic requests welcome. If find it harder to know what to write about as I get further from the applicant stage.
Friday, October 24, 2008
On Greenspan
From today's WSJ:
Mr. Greenspan was asked when he knew there was a housing bubble and when he told the public about it. He answered that he never anticipated home prices could fall so much. "I did not forecast a significant decline because we had never had a significant decline in prices," he said.
What kind of reasoning is that?? Now I am in "shocked disbelief".
If the best experts were not able to foresee the development, "I think we have to ask ourselves, 'Why is that?'" Mr. Greenspan said. "And the answer is that we're not smart enough as people. We just cannot see events that far in advance."
He continued, "There are always a lot of people raising issues, and half the time they're wrong. The question is what do you do?"
Well, he does have a point. But given that fact, we shouldn't be building a fortune on a penny and leveraging our future safety on the expectation of everlasting stability and good luck. Given our inability to predict the future I would prefer the Fed and Co. plan for the worst, not the best.
Mr. Greenspan was asked when he knew there was a housing bubble and when he told the public about it. He answered that he never anticipated home prices could fall so much. "I did not forecast a significant decline because we had never had a significant decline in prices," he said.
What kind of reasoning is that?? Now I am in "shocked disbelief".
If the best experts were not able to foresee the development, "I think we have to ask ourselves, 'Why is that?'" Mr. Greenspan said. "And the answer is that we're not smart enough as people. We just cannot see events that far in advance."
He continued, "There are always a lot of people raising issues, and half the time they're wrong. The question is what do you do?"
Well, he does have a point. But given that fact, we shouldn't be building a fortune on a penny and leveraging our future safety on the expectation of everlasting stability and good luck. Given our inability to predict the future I would prefer the Fed and Co. plan for the worst, not the best.
Sunday, October 19, 2008
Odds and Ends: Lahde Bids Farewell, Grant Vindicates my Eeyore Doctrine, and Noonan Talks Sense
Three small pieces I've enjoyed over the weekend. Odds are this is old news for you but I wanted to share:
Hedge fund manager Andrew Lahde's goodbye letter to investors. I totally hear the "what I've learned about the hedge fund business is that I hate it"! in reference to this 10/4/08 WSJ article. (prelude to my pending 'how I feel about investment management' post)
James Grant articulates the unfortunate role of over confidence (aka unchecked optimism) in our current predicament far better than I can. Chew on this fact - since 1983, debt has risen by 8.9% per year in the U.S. compared to 5.9% annual GDP growth over the period. Or, in other words, total debt rose $45.1 trillion while income rose by $10.9 trillion. I find that mind blowing. I can't believe we've survived this long.
And lastly, though I normally steer clear of the WSJ op-eds, I was pleased to see Noonan talk sense about Palin. Palin is the female version of Bush. Enough with the plain-talkin', bull-headed, anti-intellectualism already.
Oh yeah, and on the GSB front, the career office has come out with a very sobering update on recruiting season this fall which just confirms what many of us already knew. It is not looking pretty.
Hedge fund manager Andrew Lahde's goodbye letter to investors. I totally hear the "what I've learned about the hedge fund business is that I hate it"! in reference to this 10/4/08 WSJ article. (prelude to my pending 'how I feel about investment management' post)
James Grant articulates the unfortunate role of over confidence (aka unchecked optimism) in our current predicament far better than I can. Chew on this fact - since 1983, debt has risen by 8.9% per year in the U.S. compared to 5.9% annual GDP growth over the period. Or, in other words, total debt rose $45.1 trillion while income rose by $10.9 trillion. I find that mind blowing. I can't believe we've survived this long.
And lastly, though I normally steer clear of the WSJ op-eds, I was pleased to see Noonan talk sense about Palin. Palin is the female version of Bush. Enough with the plain-talkin', bull-headed, anti-intellectualism already.
Oh yeah, and on the GSB front, the career office has come out with a very sobering update on recruiting season this fall which just confirms what many of us already knew. It is not looking pretty.
Sunday, October 12, 2008
Hyde Park These Days - More Depressing Thoughts
Taking a brief break from obsessing over my job/career/personal woes, I can't stop obsessing about the recent attack on a young woman in the lobby of her apartment building one block down from our apartment. To follow a woman into the lobby of an apartment building with a 24 hour guard and security cameras, drag her past the doors of her neighbors and into some conveniently unlocked and empty garbage room is terrifyingly bold. Even worse is that the guard apparently saw them together but thought nothing of it. (?????) And a neighbor heard a scream but, hearing nothing thereafter, thought nothing of it. And how did this guy know where to drag her? It's bad enough that he was bold enough to attempt this but that he got away with it is even harder to believe.
The whole thing gives me the creeps and I can't stop thinking about it. She was my little sister's age. So many ways that this could have turned out with a better ending. I keep envisioning alternative scenarios where she beats the crap out of this guy. Or pulls out a small handgun and shoots the punk in the head. Or the security guard or neighbor decides to see what's going on (as a reasonable person might have). Nothing depresses me more than the dark reality of male testosterone gone awry and citizens bent on minding their own business. She too easily could have been me.
And just 5 days before that a medical employee was seriously injured in an attempted robbery at 54th and Ellis. Not to mention all the robberies that seem to go on in broad daylight around here. (My mom reads the crime reports diligently and gives me the run down.) And the never ending stream of news headlines about another Chicago Public School student shot or stabbed to death, including the breathtakingly sad and random murder this month of a 17 year old on a bus (at Woodlawn and 71st). And, of course, the tragic killing of Amadou Cisse last year.
I know the attack on the young woman last week is one anecdote that must be put into perspective, but it does seem that Chicago is suffering from some unfortunately high rates of crime. Our crime rate in Hyde Park seems to echo that of Chicago on the whole. And Chicago's hypersegregation doesn't seem to help.* This CBS article says that more people were shot in Chicago last summer than U.S. soldiers killed in Iraq. Murder on the whole appears to be up. This 2003 article says that not since 1967 has Chicago managed to pass a year with less than 600 murders. Rape statistics are much dodgier - according to Wikipedia there were none in Chicago for 2006 - so it's easier to focus on violent crime.
I know that Hyde Park is relatively sheltered and I am for the most part going about my daily life as usual. But the recent events have just added to my feeling of general gloom. Just thought I'd share the good cheer.
*When I listened to the This American Life radio version of the story on Chicago's Wiener Circle I found it startling but when I saw the tv version I found it nauseating. The final scene is some nasty stuff. And the recent antics of McCain supporters simply echoes this uncomfortable truth about race in this country. Living in Hyde Park/Chicago has made me think about race much more than I ever did while living in Portland/Seattle. I'm familiar with white vs. Mexican/Native American tensions. Black vs. white issues seem much darker, sadder and more hopeless.
The whole thing gives me the creeps and I can't stop thinking about it. She was my little sister's age. So many ways that this could have turned out with a better ending. I keep envisioning alternative scenarios where she beats the crap out of this guy. Or pulls out a small handgun and shoots the punk in the head. Or the security guard or neighbor decides to see what's going on (as a reasonable person might have). Nothing depresses me more than the dark reality of male testosterone gone awry and citizens bent on minding their own business. She too easily could have been me.
And just 5 days before that a medical employee was seriously injured in an attempted robbery at 54th and Ellis. Not to mention all the robberies that seem to go on in broad daylight around here. (My mom reads the crime reports diligently and gives me the run down.) And the never ending stream of news headlines about another Chicago Public School student shot or stabbed to death, including the breathtakingly sad and random murder this month of a 17 year old on a bus (at Woodlawn and 71st). And, of course, the tragic killing of Amadou Cisse last year.
I know the attack on the young woman last week is one anecdote that must be put into perspective, but it does seem that Chicago is suffering from some unfortunately high rates of crime. Our crime rate in Hyde Park seems to echo that of Chicago on the whole. And Chicago's hypersegregation doesn't seem to help.* This CBS article says that more people were shot in Chicago last summer than U.S. soldiers killed in Iraq. Murder on the whole appears to be up. This 2003 article says that not since 1967 has Chicago managed to pass a year with less than 600 murders. Rape statistics are much dodgier - according to Wikipedia there were none in Chicago for 2006 - so it's easier to focus on violent crime.
I know that Hyde Park is relatively sheltered and I am for the most part going about my daily life as usual. But the recent events have just added to my feeling of general gloom. Just thought I'd share the good cheer.
*When I listened to the This American Life radio version of the story on Chicago's Wiener Circle I found it startling but when I saw the tv version I found it nauseating. The final scene is some nasty stuff. And the recent antics of McCain supporters simply echoes this uncomfortable truth about race in this country. Living in Hyde Park/Chicago has made me think about race much more than I ever did while living in Portland/Seattle. I'm familiar with white vs. Mexican/Native American tensions. Black vs. white issues seem much darker, sadder and more hopeless.
Monday, September 22, 2008
The World is Ending
This week's Economist cover did a nice job of capturing my feelings at the moment. I had been mentally penning an especially cranky post about the current state of the economy but my zeal has faded. My feelings have moved from outrage and fear and astonishment to amusement. It feels like a soap opera. This is far more intriguing and exciting than a bubble. And I just don't really care anymore. If hedge funds go the way of the dodo birds, then I will just find something else to do with my nerdly self.
My eternal optimism about the underlying vibrancy/resilience of the American people has given way to a deep resentment of the political corruption (fiscal prudence, anyone ... anyone??), the stupidity of the whining masses (your mortgage terms - read and understand ... and skip that 4th home equity loan already) and the complete dismissal of the most important economic relationship: CONSUMPTION = PRODUCTION. You don't produce => You don't consume. And you consume only as much as you produce. End of story.
Instead we have a generation raised on two back to back bubbles and the notion that the best way to wealth is the latest tulip mania. And we have a government who aids and abets the sham by allowing unethical lenders to run amok and diverts precious public funds not to infrastructure and energy efficiency and affordable education and efficient health care but to Halliburton and bridges to nowhere.
Ok. So maybe I'm not just amused.
Yeah, recruiting is not a happy time in MBA land. But we're going to be fine. And we'll probably still make plenty of money. I'm worried for the rest of my family and friends for whom money is not easy and options are not plentiful. I'm angry that it's hard to see demonstrations of what delights me most about this country - success through hard labor, welcome of immigrants, separation of church and state, the appreciation of accomplishment and intellect in our highest leaders, suspicion of a bloated and imperial government, a commitment to living within our means and providing better futures for the new generation.
Sorry. This is a preachy post and obviously, American history is rife with inglorious and foolish moments, arguably much darker than these unfortunate days. But that this was all completely avoidable, pains me most. What good were the hundreds of years of economic history and study if we couldn't avoid the most blatantly obvious bubble? What good are the regulators if they can't enforce the most basic laws of lending? What good are our risk officers if they're expected to be compliant yes-men?
But that is how I feel at the moment. It does feel that the world as I knew it has ended. I guess I can only hope that that's a good thing!
My eternal optimism about the underlying vibrancy/resilience of the American people has given way to a deep resentment of the political corruption (fiscal prudence, anyone ... anyone??), the stupidity of the whining masses (your mortgage terms - read and understand ... and skip that 4th home equity loan already) and the complete dismissal of the most important economic relationship: CONSUMPTION = PRODUCTION. You don't produce => You don't consume. And you consume only as much as you produce. End of story.
Instead we have a generation raised on two back to back bubbles and the notion that the best way to wealth is the latest tulip mania. And we have a government who aids and abets the sham by allowing unethical lenders to run amok and diverts precious public funds not to infrastructure and energy efficiency and affordable education and efficient health care but to Halliburton and bridges to nowhere.
Ok. So maybe I'm not just amused.
Yeah, recruiting is not a happy time in MBA land. But we're going to be fine. And we'll probably still make plenty of money. I'm worried for the rest of my family and friends for whom money is not easy and options are not plentiful. I'm angry that it's hard to see demonstrations of what delights me most about this country - success through hard labor, welcome of immigrants, separation of church and state, the appreciation of accomplishment and intellect in our highest leaders, suspicion of a bloated and imperial government, a commitment to living within our means and providing better futures for the new generation.
Sorry. This is a preachy post and obviously, American history is rife with inglorious and foolish moments, arguably much darker than these unfortunate days. But that this was all completely avoidable, pains me most. What good were the hundreds of years of economic history and study if we couldn't avoid the most blatantly obvious bubble? What good are the regulators if they can't enforce the most basic laws of lending? What good are our risk officers if they're expected to be compliant yes-men?
But that is how I feel at the moment. It does feel that the world as I knew it has ended. I guess I can only hope that that's a good thing!
Thursday, September 04, 2008
On Palin
I prefer to minimize my political ramblings on here but watching the Republican convention last night made me crazy so I was ripe to respond to anonymous's comment on my last post about my thoughts on Palin.
So I'm irritated with the reporters who are using the Palin nomination to revive the tired old working mom debate. Rounding up some convenient "everymom" and asking her to speculate on someone else's working life is not news and it's not journalism. And I am bloody tired of it. So, in direct answer to the question, my irritation lies with the media, not the Obama campaign ... as far as I know. And I'm also irritated with women who engage in this useless, self-absorbed battle.
But, on the political front, I am deeply irritated with the fact that this meaningless conversation about Palin's family life obscures the real issue at hand. That is, there is a woman on the Republican ticket for the first time in history and the best they can do is a someone whose sole relevant experience, aside from a stint as the mayor of a town with a population smaller than the University of Chicago, is 20 months presiding over a state with less than 1 million people that lives on government handouts and oil money? It's insulting. Palin's numerous children are the least of her problems at the moment.
I was relieved to read the Economist hadn't bought into the bullshit and amused to hear what Republicans really think of the nomination when they're not playing cheerleader to the bandwagon of illogic.
So I'm irritated with the reporters who are using the Palin nomination to revive the tired old working mom debate. Rounding up some convenient "everymom" and asking her to speculate on someone else's working life is not news and it's not journalism. And I am bloody tired of it. So, in direct answer to the question, my irritation lies with the media, not the Obama campaign ... as far as I know. And I'm also irritated with women who engage in this useless, self-absorbed battle.
But, on the political front, I am deeply irritated with the fact that this meaningless conversation about Palin's family life obscures the real issue at hand. That is, there is a woman on the Republican ticket for the first time in history and the best they can do is a someone whose sole relevant experience, aside from a stint as the mayor of a town with a population smaller than the University of Chicago, is 20 months presiding over a state with less than 1 million people that lives on government handouts and oil money? It's insulting. Palin's numerous children are the least of her problems at the moment.
I was relieved to read the Economist hadn't bought into the bullshit and amused to hear what Republicans really think of the nomination when they're not playing cheerleader to the bandwagon of illogic.
Tuesday, August 26, 2008
The Opt Out Myth
Thanks to anonymous for the heads up on yet another MBA mom opt out story. The title made me wince and a few things didn't sit well with me but there is much truth in this article too. Babies change everything. And the one and only difference between men and women is babies. And there is no way around this. It makes for hard choices. But anecdotes are not facts and Harvard MBAs don't represent the average working woman. And most well-educated women don't actually opt out very long.
So I'll have to add this one to the opt out myth list (that will not die):
http://www.cjr.org/essay/the_optout_myth.php
http://www.eurekalert.org/pub_releases/2008-06/asa-oor061008.php
http://blogs.wsj.com/juggle/2008/06/20/women-opting-out-an-overblown-myth-new-study-says/
http://www.csmonitor.com/2006/0330/p09s01-coop.html
I have lots more to say on seemingly insurmountable gender hurdles but find myself unable to stop watching the Democratic convention and not up for penning posts on moderately depressing topics. (I profess to be an independent but I've yet to meet a Republican I'd actually want to vote for.)
On the internship front, the summer just gets rockier and rockier. Definitely interesting times.
I want to do something meaningful with my life - and it seems hard to imagine that picking the best short idea will really ever meet that criteria ... blah blah blah.
Enjoy the article. And the convention.
So I'll have to add this one to the opt out myth list (that will not die):
http://www.cjr.org/essay/the_optout_myth.php
http://www.eurekalert.org/pub_releases/2008-06/asa-oor061008.php
http://blogs.wsj.com/juggle/2008/06/20/women-opting-out-an-overblown-myth-new-study-says/
http://www.csmonitor.com/2006/0330/p09s01-coop.html
I have lots more to say on seemingly insurmountable gender hurdles but find myself unable to stop watching the Democratic convention and not up for penning posts on moderately depressing topics. (I profess to be an independent but I've yet to meet a Republican I'd actually want to vote for.)
On the internship front, the summer just gets rockier and rockier. Definitely interesting times.
I want to do something meaningful with my life - and it seems hard to imagine that picking the best short idea will really ever meet that criteria ... blah blah blah.
Enjoy the article. And the convention.
Thursday, May 08, 2008
On Gender II
Decided to try to catch up on what was happening in the world outside my academic concerns and spent 40 minutes listening to NPR's series on transgendered children. (Made me think of Ma Vie en Rose.) Even for the more progressive among us, I think transgender is a hard thing to wrap one's mind around. We are just coming to terms with homosexuality, just barely. How to balance your child's personal fulfillment with the looming rejection of society? I can't imagine the deep deep pain of these decisions.
But let's take a step back. Let's forget about the terminology and the counselors and societal norms for a moment. Once upon a time, girls wore dresses and took Home Ec and eschewed sports and swearing. Bit by bit women donned pants and took up basketball and other manly pursuits and, while a few still cling to the classic notion of femininity (as they should be free to do), most of us happily inhabit a world in which women are free to be as "masculine" or "feminine" as they like.
At first glance, the idea of boys wanting to "be girls" as young as toddlers is alarming. Transgendered toddlers? Yikes! Yet how are they different from the "tomboys" of yore? I don't know that they want to be girls they just want to be free to do things that are currently off-limits to boys. The tales of these poor little boys being forced to omit lavender and pink from their drawings or to give their stuffed animals boy names instead of girls names is unsettling. It's just a color. It's just a name. But even I, of the babies can wear any color camp, still cannot bring myself to include pink in Baby Y's wardrobe. So I understand the parents' fear of the ridicule that these behaviors might elicit but what makes me sad is my belief that the real reason these behaviors are so discomforting is that still today masculine = superior and feminine = inferior.
Seriously, why is that women wearing pants is ok, but men wearing dresses makes us so profoundly nervous? If we took all the blue crayons out of little girls' drawing palette and refused to let them near a pair of pants - imagine how strangely uptight that would seem. Although the struggle for suffrage and independence for women in this country was no light task, it was made easier by the fact that aspiring to be like a man was at some level an admirable and understandable desire. Aspiring to be "like a woman", on the other hand, is puzzling. I think we subconsciously associate it with joining the losing team, so to speak. Despite all our progress, we have only come so far. And I find this point far more alarming than "transgendered toddlers".
... now back to our regular proramming...
But let's take a step back. Let's forget about the terminology and the counselors and societal norms for a moment. Once upon a time, girls wore dresses and took Home Ec and eschewed sports and swearing. Bit by bit women donned pants and took up basketball and other manly pursuits and, while a few still cling to the classic notion of femininity (as they should be free to do), most of us happily inhabit a world in which women are free to be as "masculine" or "feminine" as they like.
At first glance, the idea of boys wanting to "be girls" as young as toddlers is alarming. Transgendered toddlers? Yikes! Yet how are they different from the "tomboys" of yore? I don't know that they want to be girls they just want to be free to do things that are currently off-limits to boys. The tales of these poor little boys being forced to omit lavender and pink from their drawings or to give their stuffed animals boy names instead of girls names is unsettling. It's just a color. It's just a name. But even I, of the babies can wear any color camp, still cannot bring myself to include pink in Baby Y's wardrobe. So I understand the parents' fear of the ridicule that these behaviors might elicit but what makes me sad is my belief that the real reason these behaviors are so discomforting is that still today masculine = superior and feminine = inferior.
Seriously, why is that women wearing pants is ok, but men wearing dresses makes us so profoundly nervous? If we took all the blue crayons out of little girls' drawing palette and refused to let them near a pair of pants - imagine how strangely uptight that would seem. Although the struggle for suffrage and independence for women in this country was no light task, it was made easier by the fact that aspiring to be like a man was at some level an admirable and understandable desire. Aspiring to be "like a woman", on the other hand, is puzzling. I think we subconsciously associate it with joining the losing team, so to speak. Despite all our progress, we have only come so far. And I find this point far more alarming than "transgendered toddlers".
... now back to our regular proramming...
Sunday, August 19, 2007
Am Soooo Tired ...
So what should one do when, after waking waaay too early to swim around a studio apartment full of half packed boxes, trying to wrestle pots and pans into wrong sized cardboard squares while acting as a human bouncy chair to cranky two month old darling son, as husband and mother traipse to far away city to rescue other half of worldy possessions with a fresh Penske truck, one's back has seized up, arms have turned numb and eyesight is fading? (GMAT grammar police, how did I fare?) Blog a bit, of course. This will be our fourth move (of sorts) in the past 2 years and I am getting rather tired of the packing game. Packing up the little apartment is so much more straight forward than our recent moves but it's still awfully tiring, especially when alone with the babe. And we'll be moving again in a mere 2 years. Sigh.
But enough with the whining! (p.s. Gonzales' resignation cheered me up though but this Marketplace piece on coal mining in Appalachia was so immensely depressing.)
Last week I finally sat down and watched the instructions for how to bid for classes and have been reading through the course catalog and building a big spreadsheet to rank my choices/options/schedules. Picking out classes is so fun and affirms that I'm doing the right thing by going back to school now. I would be very disappointed if I had chosen to defer, I think.
Chicago runs on a quarter system and typically one takes 10 classes in the first year, with 4 classes in one quarter and 3 in the other two. (Though presumably one could take more or less in any given quarter ...) One of my current dillemas is whether to put the quarter with 4 classes at the beginning (before recruiting starts) or in the spring (when Baby Y is a little older and we have the school with baby routine down more). My other dillemma is whether I want to head toward PE/VC or more classic investment management since that would impact which courses I chose to take and their timing. Hopefully academic advising and career services can help me sort that out but we really hit the ground running and need to place our bids in the first week of "orientation" (or Core, as it's called), so I need to have a good handle on myself before showing up, especially with ye young babe in arms. Some of the advice I heard from current students was to just take what sounds interesting and let your concetration fall where it may which is appealing in some respects but I am afraid I may not maximize my time without a very clear plan going in.
Anyhow, so this is it. Most of our stuff is boxed. I received my $12k plus first quarter tuition bill in the mail. We have an apartment lined up ... this is really happening. Strange to think that what was just a glimmer of an idea a year ago has thrown so many changes at us - a baby and an MBA. Both things have turnd my life upside down - but definitely for the better (or so we assume :).
But enough with the whining! (p.s. Gonzales' resignation cheered me up though but this Marketplace piece on coal mining in Appalachia was so immensely depressing.)
Last week I finally sat down and watched the instructions for how to bid for classes and have been reading through the course catalog and building a big spreadsheet to rank my choices/options/schedules. Picking out classes is so fun and affirms that I'm doing the right thing by going back to school now. I would be very disappointed if I had chosen to defer, I think.
Chicago runs on a quarter system and typically one takes 10 classes in the first year, with 4 classes in one quarter and 3 in the other two. (Though presumably one could take more or less in any given quarter ...) One of my current dillemas is whether to put the quarter with 4 classes at the beginning (before recruiting starts) or in the spring (when Baby Y is a little older and we have the school with baby routine down more). My other dillemma is whether I want to head toward PE/VC or more classic investment management since that would impact which courses I chose to take and their timing. Hopefully academic advising and career services can help me sort that out but we really hit the ground running and need to place our bids in the first week of "orientation" (or Core, as it's called), so I need to have a good handle on myself before showing up, especially with ye young babe in arms. Some of the advice I heard from current students was to just take what sounds interesting and let your concetration fall where it may which is appealing in some respects but I am afraid I may not maximize my time without a very clear plan going in.
Anyhow, so this is it. Most of our stuff is boxed. I received my $12k plus first quarter tuition bill in the mail. We have an apartment lined up ... this is really happening. Strange to think that what was just a glimmer of an idea a year ago has thrown so many changes at us - a baby and an MBA. Both things have turnd my life upside down - but definitely for the better (or so we assume :).
Monday, March 19, 2007
Politics
Today's Fresh Air was one of the most chilling things I've heard in awhile: interview with journalist Jeremy Scahill regarding mercenary firm Blackwater which is raking in the dough on Iraq operations and seemingly unaccountable to anyone. (The Economist had an article on this in 2004 too.) Combine that with the September 12th interview with T. Miller regarding his book about the reconstruction effort (apparently contractors get paid whether or not the project is completed) and it's hard not to feel awfully depressed. Markets provide some things well and private firms can be more effective for providing some services but war is no place for profit-making. If we're going to have the private contractors, much better regulation and oversight is needed.
But please, could we get a true fiscal conservative in the house?
But please, could we get a true fiscal conservative in the house?
Friday, March 16, 2007
Week 27 here we come
First, let me be the first to say, "I hate Daylight Savings". What a stupid idea.
I'm spending a long weekend down here in PNA to help take care of my little sister who is getting her tonsils out tomorrow.
So, 2 weeks until the decisions are released. I am so ready. I wasn't planning to make an entry until I found out my status actually. I dont' really have much to say. Work has gotten mildly more interesting. We moved buildings so I actually get my own desk and chair and parking space which is quite nice. Sometime last week I get to work and open my browser and see a WSJ headline that the company I'm working for just went public! Well sheesh. I had no idea! I know as a contractor I'm a bit out of the loop but I figured there would be some celebrating in the hallways or something but not a peep. This job was just to keep a little money flowing in and keep me from dying of boredom in PNZ but it is interesting to work in a company, rather than just being an outside observer. Interesting to see how accounting departments work. And the quality of life is so easy compared to what I'm used to! Damn, I do not miss getting up at 4 a.m. or putting in day after day where I don't see any sunlight.
I am enjoying watching scandal after scandal hit the white house. Is that wrong? It's the only pleasure I can get out of this administration - to watch them finally get the shame and disgrace that they deserve. Is it bad for me to express political opinions here? All the wasted money on this war and on all the pork that's been pushed through congress. Talk about big government. What a fiscal wreck. Our diplomatic relations with the word are in shambles. Civil liberties are eroded. Iraq is a festering sore. I am so ready for a new president. One with a brain would be nice.
I'm spending a long weekend down here in PNA to help take care of my little sister who is getting her tonsils out tomorrow.
So, 2 weeks until the decisions are released. I am so ready. I wasn't planning to make an entry until I found out my status actually. I dont' really have much to say. Work has gotten mildly more interesting. We moved buildings so I actually get my own desk and chair and parking space which is quite nice. Sometime last week I get to work and open my browser and see a WSJ headline that the company I'm working for just went public! Well sheesh. I had no idea! I know as a contractor I'm a bit out of the loop but I figured there would be some celebrating in the hallways or something but not a peep. This job was just to keep a little money flowing in and keep me from dying of boredom in PNZ but it is interesting to work in a company, rather than just being an outside observer. Interesting to see how accounting departments work. And the quality of life is so easy compared to what I'm used to! Damn, I do not miss getting up at 4 a.m. or putting in day after day where I don't see any sunlight.
I am enjoying watching scandal after scandal hit the white house. Is that wrong? It's the only pleasure I can get out of this administration - to watch them finally get the shame and disgrace that they deserve. Is it bad for me to express political opinions here? All the wasted money on this war and on all the pork that's been pushed through congress. Talk about big government. What a fiscal wreck. Our diplomatic relations with the word are in shambles. Civil liberties are eroded. Iraq is a festering sore. I am so ready for a new president. One with a brain would be nice.
Friday, February 02, 2007
Yikes
I gained 10 pounds since my last doctor visit, making up for my modest gains in the first trimester. It's a little alarming though still within normal. The alarming part is that I'm not really eating much more than normal, although I am exercising at a more moderate pace. I'm just worried that if it keeps up like this I'll be gigantic by the end. So I'm off to the gym! (Joy of joys.) I hate the gym. It's got to be the most boring thing ever. I much prefer ballet or yoga or running around outside, but the gym is convenient.
Scheduled my interview for Monday, February 12th. Perfect. Gives me time to sort out my wardrobe issues and think a little about my responses to unfortunate potential questions such as "Discuss an ethical dilemma you've faced" (can't think of any at all), "leadership", etc. I'm hoping my interviewer is friendly, so far he doesn't seem incredibly so by email.
Lastly, for the non-MBA/baby comment for the day. I am finding the Joe Biden snafu about Obama being the first "clean" etc. etc. black candidate very amusing. I don't know much about Biden but his "I mean 'fresh', not 'clean'" excuse is laughable. Well, he wasn't my first pick anyway. I think his comment was probably a pretty honest look into his inner opinions. Same with Gibson and Richards. I think Obama and Hillary should team up ...
Scheduled my interview for Monday, February 12th. Perfect. Gives me time to sort out my wardrobe issues and think a little about my responses to unfortunate potential questions such as "Discuss an ethical dilemma you've faced" (can't think of any at all), "leadership", etc. I'm hoping my interviewer is friendly, so far he doesn't seem incredibly so by email.
Lastly, for the non-MBA/baby comment for the day. I am finding the Joe Biden snafu about Obama being the first "clean" etc. etc. black candidate very amusing. I don't know much about Biden but his "I mean 'fresh', not 'clean'" excuse is laughable. Well, he wasn't my first pick anyway. I think his comment was probably a pretty honest look into his inner opinions. Same with Gibson and Richards. I think Obama and Hillary should team up ...
Thursday, February 01, 2007
The end of week 21
Moving on to my 22nd week of pregnancy.
Slept in this a.m. (again!) and ended up with a short day at work. (p.s. If you've missed it I'm a contractor and paid by the hour, so I'm not shortchanging my employer ... if you were starting to wonder ;) As it turns out, since the company is running out of desks, I've been asked to start sharing a desk with another contractor, working there just 5 hours in the a.m. I said I'd prefer to try telecommuting more than making the terrible commute for a shorter day. But spending all day in my apartment doesn't sound like much fun either. Allegedly they are going to move to a new building in a month or so and should have more room then. But a month is a long time to share a desk with someone. Especially since the office layout is such that we have absolutely no personal space whatsoever, not even cubicles. I didn't realize I was so spoiled to have gotten my own office with a door in my other jobs.
I was trying to find other applicant blogs of folks who are applying to Chicago, without much success. I did find one woman who apparently has applied to 9 schools in 3 weeks. Seemed like she took about 3 weeks to study for the GMAT too and scored well above what I did. She must be doing something right because she's getting interviews at top programs. Damn, that was humbling.
My thoughts are always so much saner in the daylight. I was thinking about the interview today and decided that I am not going to try to hide the fact that I'm pregnant. If my interviewer has a problem with that, so be it. And frankly, I would be really suprised if he did. There is all this never ending discussion of why top programs can't get more women in their programs. Well, it has a lot to do with ye olde ovaries, folks (and they do know that I think). And if you want to get more women in your programs you can't starting dinging them because they show up for the interview with a big belly. I made a very specific decision to get have my first child before starting a program. This was not an accident but carefully planned and, so far, going according to schedule. I wanted to the baby to be about 2-3 months old before starting the program and, if I'm admitted, that will be the case.
I was surprised to get a response from my interviewer first thing this a.m. suggesting we meet on Monday. Whoa! I was expecting a longer scheduling process and asked if the week after might work for him. I need some time to prepare but I'm happy to get this over with.
Midwife appointment tomorrow. I'm so curious to see what I weigh now. I am feeling very tubby. Have also been trying to find a doula. Need to schedule an appointment to see the birth center. Have scheduled a tour of the hospital that my midwife also works out, just as backup. I'm thinking I might not buy a new suit but just try to improvise with what I have already.
I keep thinking that I need to write about something other than the MBA and babies but once I get my MBA/baby thoughts down, I don't have any energy to write about anything else. I get through the day at my job by listening to lots of radio online. I start with that morning's Morning Edition, then catch whatever I missed from last night's All Things Considered and by noon the new Fresh Air is available. So I'm probably as informed about current events as I could possibly be. I intersperse my spreadsheets with glances at The Economist, BBC.com, The New York Times, WSJ and The Washington Post. The problem is that I'm getting so much information that it all just runs together. I'm rooting for Libby to get the punishment that he deserves, the Senate to get it together and tell Bush enough - pass the silly, meaningless resolution already. I was horrified to hear about this fellow who moved to Peoria from somewhere in the Middle East for a Master's program who has been held in confinement for 5 years now, barely able to see his family. Apparently, as an enemy combatant, the administration maintains that they can detain him until the 'war on terror' is over. Ummm, I don't think that's going to be any time soon. Look, I know there are dangers and dangerous folk out there, but I think it's too easy to make mistakes and too dangerous to just refuse to put folks through a proper legal process in order to determine their guilt.
Actually, the reason I write mostly about MBA and babies is because if I get started on the other thoughts in my head, these posts would get waaaaay too long. Plus, I feel little cautious posting my views on politics and religion here. Aside from babies and MBA, politics and religion occupies most of my available brainspace.
p.s. Watched JesusCamp this weekend which horrified my husband. Having grown up around more than a few ill-educated, rural, white-trash Christians, I didn't find it too alarming. But I tend to be too optimistic that common-sense and compassion will reign in the end. I have been proven wrong in the past.
Slept in this a.m. (again!) and ended up with a short day at work. (p.s. If you've missed it I'm a contractor and paid by the hour, so I'm not shortchanging my employer ... if you were starting to wonder ;) As it turns out, since the company is running out of desks, I've been asked to start sharing a desk with another contractor, working there just 5 hours in the a.m. I said I'd prefer to try telecommuting more than making the terrible commute for a shorter day. But spending all day in my apartment doesn't sound like much fun either. Allegedly they are going to move to a new building in a month or so and should have more room then. But a month is a long time to share a desk with someone. Especially since the office layout is such that we have absolutely no personal space whatsoever, not even cubicles. I didn't realize I was so spoiled to have gotten my own office with a door in my other jobs.
I was trying to find other applicant blogs of folks who are applying to Chicago, without much success. I did find one woman who apparently has applied to 9 schools in 3 weeks. Seemed like she took about 3 weeks to study for the GMAT too and scored well above what I did. She must be doing something right because she's getting interviews at top programs. Damn, that was humbling.
My thoughts are always so much saner in the daylight. I was thinking about the interview today and decided that I am not going to try to hide the fact that I'm pregnant. If my interviewer has a problem with that, so be it. And frankly, I would be really suprised if he did. There is all this never ending discussion of why top programs can't get more women in their programs. Well, it has a lot to do with ye olde ovaries, folks (and they do know that I think). And if you want to get more women in your programs you can't starting dinging them because they show up for the interview with a big belly. I made a very specific decision to get have my first child before starting a program. This was not an accident but carefully planned and, so far, going according to schedule. I wanted to the baby to be about 2-3 months old before starting the program and, if I'm admitted, that will be the case.
I was surprised to get a response from my interviewer first thing this a.m. suggesting we meet on Monday. Whoa! I was expecting a longer scheduling process and asked if the week after might work for him. I need some time to prepare but I'm happy to get this over with.
Midwife appointment tomorrow. I'm so curious to see what I weigh now. I am feeling very tubby. Have also been trying to find a doula. Need to schedule an appointment to see the birth center. Have scheduled a tour of the hospital that my midwife also works out, just as backup. I'm thinking I might not buy a new suit but just try to improvise with what I have already.
I keep thinking that I need to write about something other than the MBA and babies but once I get my MBA/baby thoughts down, I don't have any energy to write about anything else. I get through the day at my job by listening to lots of radio online. I start with that morning's Morning Edition, then catch whatever I missed from last night's All Things Considered and by noon the new Fresh Air is available. So I'm probably as informed about current events as I could possibly be. I intersperse my spreadsheets with glances at The Economist, BBC.com, The New York Times, WSJ and The Washington Post. The problem is that I'm getting so much information that it all just runs together. I'm rooting for Libby to get the punishment that he deserves, the Senate to get it together and tell Bush enough - pass the silly, meaningless resolution already. I was horrified to hear about this fellow who moved to Peoria from somewhere in the Middle East for a Master's program who has been held in confinement for 5 years now, barely able to see his family. Apparently, as an enemy combatant, the administration maintains that they can detain him until the 'war on terror' is over. Ummm, I don't think that's going to be any time soon. Look, I know there are dangers and dangerous folk out there, but I think it's too easy to make mistakes and too dangerous to just refuse to put folks through a proper legal process in order to determine their guilt.
Actually, the reason I write mostly about MBA and babies is because if I get started on the other thoughts in my head, these posts would get waaaaay too long. Plus, I feel little cautious posting my views on politics and religion here. Aside from babies and MBA, politics and religion occupies most of my available brainspace.
p.s. Watched JesusCamp this weekend which horrified my husband. Having grown up around more than a few ill-educated, rural, white-trash Christians, I didn't find it too alarming. But I tend to be too optimistic that common-sense and compassion will reign in the end. I have been proven wrong in the past.
Tuesday, November 14, 2006
Big catch-up post
So lot's to catch up on, though I've been toying with killing this blog all together. But I got a comment! So that means at least one person has read this blog. Crazy.
So since my last post I've visited 7 programs - Northwestern, U Chicago, Columbia, NYU, Wharton, MIT and Harvard - and learned that I am definitely pregnant. I am due approximately in mid-June. So the adventure continues. I visited Chicago (the city) in mid-October and was so excited by U Chicago that I decided that I wanted to try to squeeze in a R2 application. Man. We'll see if I can pull this off. It's not quite so crazy given that I am now unemployed, as of November 1st, and applying to just one school is certainly more doable than multiple schools, but it will still be challenging. I was inspired by meeting a current Chicago student who said that he did his apps after the Fall Preview last year. Studied for the GMAT and pulled off 4 applications (!) in about 2 months. I thought, ok, I can do that. I just want to keep my options open and the Dean of Admissions said if I found new motherhood too overwhelming, I could defer.
As soon as I got back from my visit I signed up for a Manhattan GMAT course - I'm about mid-way through that now. After quitting my job I packed and moved everything to PNZ, though I'm still sorting out the rental situation with the house in PNA, and took a plane to New York the following morning. Just got back from my east coast tour last night. I'm also battling all-day, every-day "morning sickness". No puking but eating has become an enormous battle. So that's fun.
I'm going to post separately on each school. It will help me organize my thoughts which is much needed at this point.
On another note, go Dems go! That was the highlight for me last week. I couldn't resist commenting.
There, now you have my political allegiances. I actually consider myself an Independent but I haven't seen that many Republican candidates that I could get excited about. I've been a fan of McCain but my fondness for him ebbs and wains. His failed bid for the presidency left a sour taste in my mouth. Bush's cronies completely slandered him and he just ate it. Yuck. Anyhow, I don't think you have to be a raving Dem to be completely sick of the current leadership, ya know? Oy. I was just happy to see Bush get a little slap finally. I just can't get behind people who don't work for what they have. I don't care if you're red or blue, I just like hard workers and smart folk. Bush fails on both counts pretty severely. Oh yeah, I also like sincerity. Cowboy - ha, yeah right. Who buys that shit! Sheesh. It just kills me how we don't have enough funds for a decent healthcare in this country but we can spend millions fucking up Iraq. Nice. Nice for Halliburton.
So since my last post I've visited 7 programs - Northwestern, U Chicago, Columbia, NYU, Wharton, MIT and Harvard - and learned that I am definitely pregnant. I am due approximately in mid-June. So the adventure continues. I visited Chicago (the city) in mid-October and was so excited by U Chicago that I decided that I wanted to try to squeeze in a R2 application. Man. We'll see if I can pull this off. It's not quite so crazy given that I am now unemployed, as of November 1st, and applying to just one school is certainly more doable than multiple schools, but it will still be challenging. I was inspired by meeting a current Chicago student who said that he did his apps after the Fall Preview last year. Studied for the GMAT and pulled off 4 applications (!) in about 2 months. I thought, ok, I can do that. I just want to keep my options open and the Dean of Admissions said if I found new motherhood too overwhelming, I could defer.
As soon as I got back from my visit I signed up for a Manhattan GMAT course - I'm about mid-way through that now. After quitting my job I packed and moved everything to PNZ, though I'm still sorting out the rental situation with the house in PNA, and took a plane to New York the following morning. Just got back from my east coast tour last night. I'm also battling all-day, every-day "morning sickness". No puking but eating has become an enormous battle. So that's fun.
I'm going to post separately on each school. It will help me organize my thoughts which is much needed at this point.
On another note, go Dems go! That was the highlight for me last week. I couldn't resist commenting.
There, now you have my political allegiances. I actually consider myself an Independent but I haven't seen that many Republican candidates that I could get excited about. I've been a fan of McCain but my fondness for him ebbs and wains. His failed bid for the presidency left a sour taste in my mouth. Bush's cronies completely slandered him and he just ate it. Yuck. Anyhow, I don't think you have to be a raving Dem to be completely sick of the current leadership, ya know? Oy. I was just happy to see Bush get a little slap finally. I just can't get behind people who don't work for what they have. I don't care if you're red or blue, I just like hard workers and smart folk. Bush fails on both counts pretty severely. Oh yeah, I also like sincerity. Cowboy - ha, yeah right. Who buys that shit! Sheesh. It just kills me how we don't have enough funds for a decent healthcare in this country but we can spend millions fucking up Iraq. Nice. Nice for Halliburton.
Friday, August 04, 2006
Just Another Beautiful Friday Morning
So I have to admit, I am still wavering a bit on the GMAT self-study. From Clear Admit's blog today I read two blogs, one from a woman who just took her first Manhattan GMAT course and loved it and another from a fellow who was firmly pro-self-study. I received a call back from the Manhattan GMAT folks yesterday. (I had called them the previous night to discuss the advantages of their program over self study and when I didn't get a call back, I went ahead and placed my major Amazon book order.) They are great salespeople and I got off the phone with this fellow, very doubtful about the self-study route. I know I could do it, but do I want to? On the other hand, I'm not convinced that the difference between a 720 or 750 will make or break my application. On the other other hand, as I said before, academics are my stronger point, my work experience is my Achilles heal, and why not boost my app with an excellent GMAT score? Far easier than remaking the past 4.5 years of employment ...
So I decided that I'm going home after work today to take a PowerPrep test. Nice thing about starting work at 5 a.m. is that we get off by 1:00 on Fridays (on a good day) so I'll have a good 3-4 hours before my husband gets off work to take the exam. If I get better than a 650, I'll do self-study. If I do worse, I'll take the course. Stay tuned ...
The good thing about this MBA application process is that it takes my mind off the Israel-Lebanon situation which is just breaking my heart. I'm trying to refrain from throwing my political opinions into this blog but it's hard. In the first week or two I couldn't do anything but look for news updates - very hard to get work done. Of course now, I'm too busy reading MBA blogs and considering the finer points of GMAT strategy to get any work done either! Sigh. I will just say bless the Israelis and the Lebanese and the Palestinians. So much pain and suffering and I don't really feel hopeful that it will ever end unfortunately. On the other hand, the number of people killed in the Congo on a daily basis makes the entire Israel/Iraq/Afghanistan affair seem a mere bumper to bumper compared to the bloodshed that occurs there on a daily basis. So it's important to keep those things in perspective. Nonetheless, I don't want to see Israel wiped off the map, which seems to be the popular opinion of too many in that region. So that's agonizing.
So I decided that I'm going home after work today to take a PowerPrep test. Nice thing about starting work at 5 a.m. is that we get off by 1:00 on Fridays (on a good day) so I'll have a good 3-4 hours before my husband gets off work to take the exam. If I get better than a 650, I'll do self-study. If I do worse, I'll take the course. Stay tuned ...
The good thing about this MBA application process is that it takes my mind off the Israel-Lebanon situation which is just breaking my heart. I'm trying to refrain from throwing my political opinions into this blog but it's hard. In the first week or two I couldn't do anything but look for news updates - very hard to get work done. Of course now, I'm too busy reading MBA blogs and considering the finer points of GMAT strategy to get any work done either! Sigh. I will just say bless the Israelis and the Lebanese and the Palestinians. So much pain and suffering and I don't really feel hopeful that it will ever end unfortunately. On the other hand, the number of people killed in the Congo on a daily basis makes the entire Israel/Iraq/Afghanistan affair seem a mere bumper to bumper compared to the bloodshed that occurs there on a daily basis. So it's important to keep those things in perspective. Nonetheless, I don't want to see Israel wiped off the map, which seems to be the popular opinion of too many in that region. So that's agonizing.
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