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Foreword: The Power of Retained Earnings
In 1924, Edgar Lawrence Smith, an obscure economist and financial advisor, wrote Common Stocks as Long Term Investments, a slim book that changed the investment world. Indeed, writing the book changed Smith himself, forcing him to reassess his own investment beliefs. Going in, he planned to argue that stocks would perform better than bonds during inflationary periods and that bonds would deliver superior returns during deflationary times. That seemed sensible enough. But Smith was in for a shock.
His book began, therefore, with a confession: "These studies are the record of a failure - the failure of facts to sustain a preconceived theory." Luckily for investors, that failure led Smith to think more deeply about how stocks should be evaluated. For the crux of Smith's insight, I will quote an early reviewer of his book, none other than John Maynard Keynes: "I have kept until last what is perhaps Mr. Smith's most important, and is certainly his most novel, point. Well-

What does the revised statement say about financial stability?

In August 2020 , Powell noted the trend that in recent years, “a series of historically long expansions had been more likely to end with episodes of financial instability, prompting essential efforts to substantially increase the strength and resilience of the financial system.”

Given this history, the new statement explicitly addresses financial stability concerns as an important part of the Fed’s mandate. “[S]ustainably achieving maximum employment and price stability depends on a stable financial system. Therefore, the Committee’s policy decisions reflect its longer-run goals, its medium-term outlook, and its assessments of the balance of risks, including risks to the financial system that could impede the attainment of the Committee’s goals.”

This change elevates financial stability in the Fed’s hierarchy of goals and suggests that, depending on the circumstances, th

@mkrupczak3
mkrupczak3 / docker-compose.yml
Created September 26, 2020 03:42
Minecraft Docker OpenJ9 ShenandoahGC: Ultra-low lag with Shenandoah GC
version: '3'
services:
minecraft-server:
ports:
- "25565:25565"
environment:
EULA: "TRUE"
@mkrupczak3
mkrupczak3 / batch_convert.sh
Last active October 2, 2020 23:30
Batch convert Steam uncompressed PNG videogame screenshots to high-quality low compression JPG for use with twitter
# Batch convert Steam uncompressed PNG videogame screenshots to high-quality low compression JPG for use with twitter:
find . -type f -iname '*.png' -print0 | xargs -0 -n 1 -P 4 -I {} convert -verbose -units PixelsPerInch {} -colorspace sRGB -resize 3440x1440 -set filename:new '%t-%wx%h' -density 72 -format JPG -quality 97 '%[filename:new].jpg'
@mkrupczak3
mkrupczak3 / screen-tearing.md
Created October 3, 2020 22:39 — forked from Brottweiler/screen-tearing.md
Screen tearing in Linux

Screen Tearing in Linux

The purpose of this gist is to document my experiences with screen tearing in Linux.

Information

  • Archlinux
  • i5-4460 (4) @ 3.4GHz
  • GeForce GTX 750 Ti
The Sheep Look Up:
Neonicotinoids
Chlorpyrifos
https://www.theatlantic.com/health/archive/2014/03/the-toxins-that-threaten-our-brains/284466/
https://www.nytimes.com/2020/09/23/climate/epa-pesticide-chlorpyrifos-children.html
https://retropie.org.uk/docs/Sound-Issues/
https://askubuntu.com/a/1049313
sudo apt-get install cpufrequtils
echo 'GOVERNOR="performance"' | sudo tee /etc/default/cpufrequtils
sudo systemctl disable ondemand
@mkrupczak3
mkrupczak3 / Video_Enc_Notes.txt
Last active August 16, 2021 17:36
A set of notes for how I set up my twitch stream
Twitch official notes:
https://stream.twitch.tv/encoding/
Why use I NVENC (NVIDIA Turing and better) GPU ASIC encoding instead of CPU encoding?
https://youtu.be/6fyP7kg0QAc?t=434
NVENC is available on Maxwell arch. GPU's (GTX 10XX and later), but is vastly improved starting w/ the RTX (Turing & Ampere) cards.
GPU encoding = Fast but dumb
CPU encoding = Smart but slow:

Core Coding Standard

Coding practices are a source of a lot of arguments among programmers. Coding standards, to some degree, help us to put certain questions to bed and resolve stylistic debates. No coding standard makes everyone happy. (And even their existence is sure to make some unhappy.) What follows are the standards we put together on the Core team, which have become the general coding standard for all programming teams on new code development. We’ve tried to balance the need for creating a common, recognizable and readable code base with not unduly burdening the programmer with minor code formatting concerns.

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