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Subject: Stop the Insanity


Author:
Ivy guy
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Date Posted: 11:17:26 07/08/18 Sun
In reply to: Boston Lion 's message, "Re: Ivy League Admissions" on 12:46:43 07/06/18 Fri

Let’s all pray that Fall football camps open soon.
So we can talk about other things than: Admissions, politics, post-season playoffs, University Presidents and other things that nobobidy in this Board can impact

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Replies:
[> [> [> Subject: will that


Author:
holtsledge
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Date Posted: 13:29:03 07/08/18 Sun

The Ivy Sports Board Great Again? I'm all for it, internet fights are a silly waste of time and I should be mature enough at my age to avoid them

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[> [> [> [> Subject: Re: will that


Author:
Big Dawg
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Date Posted: 16:22:50 07/08/18 Sun

First, I absolutely think I would be admitted today @ Columbia. I kicked ass then and would now. And so would most of you. We were the best. Kind of like comparing the Unitas Colts to the Brady Pats.

Next......there were also some real dopes on my frosh squad.

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[> [> [> [> [> Subject: Re: will that


Author:
Michael Valmas (Entertained)
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Date Posted: 15:25:59 07/12/18 Thu

Lucky for Brady's Pats to have never faced Joe Willie Namath; and lucky for you to have never faced the Asian Juggernaut!

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[> [> [> [> Subject: Who's Good For Society?


Author:
An Observer
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Date Posted: 16:44:43 07/08/18 Sun

Holtsie, this was not an "internet fight." If you want to see a genuine internet fight, you're going to have to go to an SEC, Big XII or Big Ten message board.

This was a philosophical discussion. It reminds me of a similar "philosophical discussion" when I had just begun my career in finance. I was the rare person who made a mid-career change onto Wall Street.

One day, I was filling out a reunion survey which asked, "On a scale of 1 to 10, how important is your job to society?" I had come from a career in biotechnology where my company's product saved lives -- literally. With that background as back story, I checked 2 or 3, not important to society.

Another trader was reading over my shoulder and he reacted immediately. Now, this guy had the classic hypercompetive personality. He had probably never once helped another human being in his life and would just as soon stab you in the back as give you a helping hand.

This guy said, "Our job isn't just important to society. It's THE MOST important job in society. We allocate capital. We allocate capital to its most productive use. We decide which factories get built and which industries get funding. We determine how and whether the economy grows."

While this particular guy had a comically inflated sense of his own importance, I had to admit that he had a point. Collectively, the people on Wall Street are very important. Much like, collectively, individual lawyers can be tremendous dead weights on the economy and society, we need lawyers as a class to enforce property rights and other rights.

Unlike, say, doctors, where even one competent doctor on his or her own is making a positive contribution to society, collectively Wall Street financiers are indispensable to the economy even though individual participants can be good, indifferent or terrible for the economy.

So I told my co-worker, "Okay, Bill, I'm changing my answer to a 7."

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[> [> [> [> [> Subject: Re: Who's Good For Society?


Author:
M3
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Date Posted: 18:02:01 07/08/18 Sun

The question is not whether Wall Street financiers are important in a capitalistic society- they most definitely are.

The question is how much they are worth.

They would argue they work hard - I think most MD's and JD's on the board would answer "compared to who?".

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[> [> [> [> [> Subject: Let's not get carried away


Author:
Calvin
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Date Posted: 18:31:47 07/08/18 Sun

I was with you until the lawyers part.

A wise person once advised that lawyers are to civilization what pantyhose is to sex.

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[> [> [> [> [> [> Subject: Pantyhose, sex, lawyers and civilization


Author:
Diogenes (Holtsledge)
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Date Posted: 18:48:37 07/08/18 Sun

“Goodnight Mrs. Calabash, wherever you are!”

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[> [> [> [> [> [> [> Subject: Re: Pantyhose, sex, lawyers and civilization


Author:
Diogenes (Calvin)
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Date Posted: 18:52:55 07/08/18 Sun

Too much gin and tonic for Diogenes. Apologies to Holtsledge. It was Calvin who brought us pantyhose, sex, lawyers and civilization.

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[> [> [> [> [> [> Subject: What's The Optimal Number of Doctors, Lawyers and Financiers?


Author:
An Observer
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Date Posted: 14:16:15 07/10/18 Tue

Calvin, as is often the case with your posts, there is both humor and wisdom in your latest.

In my opinion, the difference between doctors, lawyers and finance professionals is as follows:

Every doctor who is either competent or nearly so is adding value to society. At the margin, every individual doctor who is not bad at his or her job contributes. Only those who are actually bad at their job subtract value.

Society could use far fewer people employed in the finance industry and still survive or even thrive, the latter if you believe that a lot of smart people would then be freed up to work elsewhere. But relatively few finance professionals actually subtract value from society, with one very conspicuous exception: The vast majority of mergers and acquisitions eventually fail and the vast majority of M&A bankers who push for these deals are aware of this statistic. And yet they keep selling these deals because the fees are so lucrative and perhaps because they labor under the conceit that "their deals" will succeed.

Lawyers, on the other hand, have a very different ratio of individuals who add or subtract value from society. As discussed early, we need the rule of law and therefore we need lawyers -- collectively. But a substantial subset of individual lawyers just get in the way.

If optimized, society and the economy would be optimized weeding out only a few doctors (only the malpractice crowd). We need more doctors, not less.

Society and the economy would be optimized with perhaps a third or half fewer finance professionals. By the way, after the Great Recession, the labor market is in the process of optimizing the number of finance professionals in the downward direction.

By contrast, society and the economy would be optimized if we had far fewer lawyers, certainly less than half the number we have now. The Great Recession and labor market are also working this number down, but very slowly. We have way too many law schools committed to churning out way too many unnecessary attorneys.

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[> [> [> [> [> [> [> Subject: Four Questions for An Observer


Author:
Diogenes
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Date Posted: 19:01:19 07/10/18 Tue

1. Who determines what is “Optimum”?;

2. Who determines the “ways and means” to reach “Optimum”?;

3. Who enforces “Optimum” after we reach “Optimum”?;

4. If “Optimum” ever changes, who decides when it changes and what is the new “Optimum”?

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[> [> [> [> [> [> [> [> Subject: Re: Four Questions for An Observer


Author:
M3
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Date Posted: 19:43:21 07/10/18 Tue

Lawyers

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[> [> [> [> [> [> [> [> [> Subject: That was good. Thanks.


Author:
Diogenes (M3)
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Date Posted: 19:59:10 07/10/18 Tue


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[> [> [> [> [> [> [> [> Subject: Re: Four Questions for An Observer


Author:
An Observer
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Date Posted: 11:21:19 07/11/18 Wed

For purposes of the discussion in this subthread, I do.

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[> [> [> [> [> [> [> [> Subject: Re: Four Questions for An Observer


Author:
Diogenes (An Observer)
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Date Posted: 12:01:18 07/11/18 Wed

Thanks, that was good too. A bit Stalinist, but only “for purposes of the discussion in this subthread”. Actually, I’ve long thought that the NCAA and Stalin had a good deal in common. Fortunately, the Ivies being Central Planners themselves, the NCAA leaves the Ivies to their own Centrally Planned destiny.

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[> [> [> [> [> [> [> [> Subject: Re: Four Questions for An Observer


Author:
Calvin
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Date Posted: 14:25:16 07/11/18 Wed

Prime, I think.

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[> [> [> Subject: You guys need to remember


Author:
holtsledge
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Date Posted: 21:48:36 07/08/18 Sun

I was a good Catholic school boy that had really good grades and superior test scores, but more importantly I had an WW 2 vet D grad father that was very involved in Dartmouth Alumni affairs and very big contributor to the Alumni fund no question that helped a lot. If I was applying today I would have been given a thanks a lot for calling wait list and probably would have wound up at Holy Cross. Such is life, I have a few regrets but that's just the way it is. Unlike An Observer I had no shot at Goldman Sachs although two guys 2 yrs ahead were GS guys and another is one of the three Carlyle founders

When does the season begin? I have an extra sideline pass for one game any takers? Come on An Observer this is your chance

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