The DeBord Report has hit a milestone: 1,000 posts.
We started this blog at KPCC.org on August 16 of last year with a post about Warren Buffett and his view that the rich should pay more in taxes, an argument that ultimately became a central factor in the Presidential election. On this post-Election Day 2012, with a quick take on September California home prices, we hit our first major milestone: 1,000 posts.
In between, I've covered a lot of ground - from the Solyndra bankruptcy to Bitcoin debates to the bad business of porn. From the jobs crisis to the housing crisis to the venture capital crisis and CalPERS. From why Hollywood and Silicon Valley can't get along to all things Apple and how Los Angeles is become a U.S. center of microlending. I spoke with economists. Lots and lots of economists. I tracked Republicans and their tax plans and Democrats and their tax plans. But I also kept watch on whole California cities going out of business, a baseball team being sold for billions, Facebook's failures, foreclosures galore, and the ascent of the Los Angeles libertarian. SpaceX sent rockets into orbit, JPL sent a nuclear-powered robot tank to Mars, and Disney bought "Star Wars." Occupy L.A. ... occupied L.A.!
Emanuel Derman is a professor of finance at Columbia University and also a physicist. But what' he's probably best known for is his years at Goldman Sachs in the lead-up to the financial crisis and his role as one of the pre-eminent Wall Street "quants" — investment professionals who attempted to use complex quantitative models to drive risk out of making money. These days, some critics blame the quants for nearly destroying the global financial system.
Derman chronicled his Wall Street days in a 2004 book, "My Life as A Quant: Reflections on Physics and Finance" — a full four years before the financial crisis truly took hold in late-2008. He's now followed that title up with "Models. Behaving. Badly," in which he looks back on both his life and his life's work and...finds fault with the world that he in part helped to engineer.