Snake Agent is Liz William's novel about an Occult investigator named Detective Inspector Chen. When I heard that it was set in a version of Singapore, where I grew up, I could not resist, and picked up the entire series over at Bean Online.
I was to be sorely disappointed. First of all, the novel isn't really set in Singapore, but Singapore 3, which is some sort of excuse for Williams not to do any research whatsoever about Singapore. For instance, there are references to Beijing throughout the book which indicates that Williams, like many Americans, think that Singapore is part of China. A look at any atlas or even a world map will show you where Singapore is, and it's not in China.
The novel itself is fairly trite. Detective Inspector Chen investigates a girl's murder, and then discovers it to be part of a broader plot that threatens the heavenly order. The bureaucratic view of heaven and hell come right out of Chinese culture, but everything else is made up. The result is that you go through the book with one new rule after another being turned up, and our protagonist is tossed about like a bottle on waves in the Ocean, displaying very little of the qualities we expect from Detectives or Police inspectors.
Ultimately, I finished the novel, but I want the 2 hours of my life I spent reading it back. Not recommended.
Sunday, December 27, 2009
Saturday, December 26, 2009
Review: Stabilizing an Unstable Economy
The recent financial crisis has been called a Minsky moment by many economists I respect. Minsky's 1984 work, Stabilizing an Unstable Economy was out of print for many years, and certainly not available at my local library, so I bought the Kindle edition and decided to read it over my vacation.
What the book encompasses is a re-engineering of existing orthodox economic theory. Fundamentally, Minsky believes that the lessons of John Maynard Keynes has been misunderstood and unincorporated into modern economic theory, which holds that a free market, capitalist economy is self-stabilizing at an equilibrium that approximates full employment. The typical argument then, is that government intervention is self-defeating and does not accomplish much.
The book covers several topics, the most important of which is an exposition of what Minsky considers the basic instability of our capitalist economy. He fundamentally divides financing schemes for projects into 3 types: hedge finance, where debts are paid for out of ongoing operations, speculative finance, where debts are paid for by a series of continual refinancing activities in the hopes that ongoing operations will eventually exceed the costs of refinancing, and finally ponzi finance, where even the interest on debt is paid for by a series of increasingly large refinancing activities, in the hopes of a future payoff. An economy consisting entirely of hedge projects is very stable, while an economy filled with speculative and ponzi projects runs the risk of a financial collapse. The post-war economy from 1946 to 1966 looked very much like the former, while the economy post 1966 looked very much like the latter.
How then, does our current economy not collapse into a depression despite having had several financial collapses? The answer, Minsky answers is Big Government, which is capable of running a deficit as well as organizing bailouts of bad financial bets when they reach a collapse. However, Minsky argues that this leads inexorably to the increasing instability of the economy, since each bail out legitimizes and validates the dodgy financial instruments that caused the financial collapse in the first place.
Acceptable financing techniques are not technologically constrained; they depend upon the subjective preferences and views of bankers and businessmen about prospects. With the financial structure that ruled in the 1950s, it was correct for businessmen and bankers to increase short-term indebtedness. However, success breeds a disregard of the possibility of failure; the absence of serious financial difficulties over a substantial period leads to the development of a euphoric economy in which increasing short-term financing of long positions becomes a normal way of life.16 As a previous financial crisis recedes in time, it is quite natural for central bankers, government officials, bankers, businessmen, and even economists to believe that a new era has arrived. Cassandra-like warnings that nothing basic has changed, that there is a financial breaking point that will lead to a deep depression, are naturally ignored in these circumstances. Since the doubters do not have fashionable printouts to prove the validity of their views, it is quite proper for established authority to ignore arguments drawn from unconventional theory, history, and institutional analysis. Nevertheless, in a world of uncertainty, given capital assets with a long gestation period, private ownership, and the sophisticated financial practices of Wall Street, the successful functioning of an economy within an initially robust financial structure will lead to a structure that becomes more fragile as time elapses. Endogenous forces make a situation dominated by hedge finance unstable, and endogenous disequilibrating forces will become greater as the weight of speculative and Ponzi finance increases.
The result of these continual series of bailouts is that inflation has become a persistent and endemic part of the economy, and each bail out has to be increasingly larger, while not solving the fundamental instability of the economy in the form of financial institutions which while under regulation very quickly take control of the regulators, no matter the intentions of the legislation behind such regulation.
Minsky then goes on to describe what he considers to be important measures that could stabilize an economy. These prescriptions seem guaranteed to piss off liberals and conservatives alike, but in the light of his theory seem very sensible. He proposes setting a desired target size for the government such that it is big enough to manage changes in the economy. He further proposes the elimination of welfare, and replacing it with a guaranteed jobs program much like Roosevelt's. Then, financial institutions can be allowed to fail, since a series of Ponzi schemes that fall apart would not automatically spread across the entire economy.
I think a lot of people wouldn't like the typical man on the street to read this book: the existing Economics establishment wouldn't want you to read it because it highlights the failings of conventional economic theory. Conservatives probably wouldn't like the prescription of a Big Government, and Liberals wouldn't like the destruction of transfer payments. Yet the book is relatively accessible: none of the math involves more than simple summation series and algebra, and the writing is relatively clear and lucid, though dense. More importantly, if we realized the major structural problems in the economy that Minsky describes, we can actually have a debate about how to fix the root causes, rather than indulging in one bailout after another which doesn't actually seem to solve any problems, and just sets us up for further economic collapse. Highly recommended at the full price.
What the book encompasses is a re-engineering of existing orthodox economic theory. Fundamentally, Minsky believes that the lessons of John Maynard Keynes has been misunderstood and unincorporated into modern economic theory, which holds that a free market, capitalist economy is self-stabilizing at an equilibrium that approximates full employment. The typical argument then, is that government intervention is self-defeating and does not accomplish much.
The book covers several topics, the most important of which is an exposition of what Minsky considers the basic instability of our capitalist economy. He fundamentally divides financing schemes for projects into 3 types: hedge finance, where debts are paid for out of ongoing operations, speculative finance, where debts are paid for by a series of continual refinancing activities in the hopes that ongoing operations will eventually exceed the costs of refinancing, and finally ponzi finance, where even the interest on debt is paid for by a series of increasingly large refinancing activities, in the hopes of a future payoff. An economy consisting entirely of hedge projects is very stable, while an economy filled with speculative and ponzi projects runs the risk of a financial collapse. The post-war economy from 1946 to 1966 looked very much like the former, while the economy post 1966 looked very much like the latter.
How then, does our current economy not collapse into a depression despite having had several financial collapses? The answer, Minsky answers is Big Government, which is capable of running a deficit as well as organizing bailouts of bad financial bets when they reach a collapse. However, Minsky argues that this leads inexorably to the increasing instability of the economy, since each bail out legitimizes and validates the dodgy financial instruments that caused the financial collapse in the first place.
Acceptable financing techniques are not technologically constrained; they depend upon the subjective preferences and views of bankers and businessmen about prospects. With the financial structure that ruled in the 1950s, it was correct for businessmen and bankers to increase short-term indebtedness. However, success breeds a disregard of the possibility of failure; the absence of serious financial difficulties over a substantial period leads to the development of a euphoric economy in which increasing short-term financing of long positions becomes a normal way of life.16 As a previous financial crisis recedes in time, it is quite natural for central bankers, government officials, bankers, businessmen, and even economists to believe that a new era has arrived. Cassandra-like warnings that nothing basic has changed, that there is a financial breaking point that will lead to a deep depression, are naturally ignored in these circumstances. Since the doubters do not have fashionable printouts to prove the validity of their views, it is quite proper for established authority to ignore arguments drawn from unconventional theory, history, and institutional analysis. Nevertheless, in a world of uncertainty, given capital assets with a long gestation period, private ownership, and the sophisticated financial practices of Wall Street, the successful functioning of an economy within an initially robust financial structure will lead to a structure that becomes more fragile as time elapses. Endogenous forces make a situation dominated by hedge finance unstable, and endogenous disequilibrating forces will become greater as the weight of speculative and Ponzi finance increases.
The result of these continual series of bailouts is that inflation has become a persistent and endemic part of the economy, and each bail out has to be increasingly larger, while not solving the fundamental instability of the economy in the form of financial institutions which while under regulation very quickly take control of the regulators, no matter the intentions of the legislation behind such regulation.
Minsky then goes on to describe what he considers to be important measures that could stabilize an economy. These prescriptions seem guaranteed to piss off liberals and conservatives alike, but in the light of his theory seem very sensible. He proposes setting a desired target size for the government such that it is big enough to manage changes in the economy. He further proposes the elimination of welfare, and replacing it with a guaranteed jobs program much like Roosevelt's. Then, financial institutions can be allowed to fail, since a series of Ponzi schemes that fall apart would not automatically spread across the entire economy.
I think a lot of people wouldn't like the typical man on the street to read this book: the existing Economics establishment wouldn't want you to read it because it highlights the failings of conventional economic theory. Conservatives probably wouldn't like the prescription of a Big Government, and Liberals wouldn't like the destruction of transfer payments. Yet the book is relatively accessible: none of the math involves more than simple summation series and algebra, and the writing is relatively clear and lucid, though dense. More importantly, if we realized the major structural problems in the economy that Minsky describes, we can actually have a debate about how to fix the root causes, rather than indulging in one bailout after another which doesn't actually seem to solve any problems, and just sets us up for further economic collapse. Highly recommended at the full price.
One caveat about the Kindle version: It's not very well formatted for the Kindle, as footnotes are inline rather than hyper-linked. This makes the footnotes very jarring to read. Nevertheless, it was worth it to have the book available on vacation.
Review: Passage at Arms
Passage At Arms is Glen Cook's submarines in space novel. It follows the story of an ex-military“embedded-reporter” attached to a Climber unit in a war. The Climber is commanded by his former officer school classmate, and he finds himself resented for taking up a useless space on the climber, in addition to another useless experimental weapon thatt was fitted onto the ship for a special mission.
In a typical action adventure story written by a lesser writer, the narrator will prove himself to be a superior human being, able to make use of his useless weapon in unprecedented ways against the vce enemy. This being Glen Cook, however, we get a very well told submarine tale, with more than a couple of surprises in store, but nothing as trite as what you would expect from the set-up.
Nevertheless, this is early Glen Cook, and those who are used to later Glen Cook should be aware that you can see Cook polishing his narrative style in this novel for his later, greater works, such as the Black Company series. The prose is sparse and spare, very reflective of a former military officer who's used to saying little with few words. Sentence fragments effectively render the moods of the men and machines, and little pieces of narratives provide what I consider really well written vignettes of the military and its situation.
If I have any criticism of the novel, it's that the author also had a very spare approach to plot and character—nearly everyone was a stereotype, and you're expected to have sympathy for the crew out of proximity without any real characterization being provided. Nevertheless, the book is recommended, at the very least as an airplane novel.
In a typical action adventure story written by a lesser writer, the narrator will prove himself to be a superior human being, able to make use of his useless weapon in unprecedented ways against the vce enemy. This being Glen Cook, however, we get a very well told submarine tale, with more than a couple of surprises in store, but nothing as trite as what you would expect from the set-up.
Nevertheless, this is early Glen Cook, and those who are used to later Glen Cook should be aware that you can see Cook polishing his narrative style in this novel for his later, greater works, such as the Black Company series. The prose is sparse and spare, very reflective of a former military officer who's used to saying little with few words. Sentence fragments effectively render the moods of the men and machines, and little pieces of narratives provide what I consider really well written vignettes of the military and its situation.
If I have any criticism of the novel, it's that the author also had a very spare approach to plot and character—nearly everyone was a stereotype, and you're expected to have sympathy for the crew out of proximity without any real characterization being provided. Nevertheless, the book is recommended, at the very least as an airplane novel.
Wallilabou Bay to Young Island
Wallilabou Bay is infested with mosquitoes. In general, Caribbean mosquitoes aren't bad, but Lisa had so many bites that her legs were pock-marked with mosquito bites. The bay was particularly bad because the Illusion was moored stern into the wind, which meant that there was no breeze flowing through that boat. But at least we now had the entire boat filled with water.
Norman wanted to leave at 11am, but Alena, Josh and Noah wanted to wait till at least Noon, because they had wanted to take a shower, and use the internet at Steve's. Despite Norman's assurances that our travel dates were OK, it turned out that January 2nd was not a good date to fly out of St. Lucia—the customs office would be closed until 9am, and our flight left at 8:40am. This meant that we would have to depart the Illusion on January 1st, take the ferry from Bequia to St. Vincent, and then fly from St. Vincent back to St. Lucia so that Norman could discharge us from Bequia on the 31st. So we had to book an extra flight as well as a hotel room. Alena was in the same situation, so we bought our plane tickets and booked hotel rooms together.
At 10:00am, I saw that we had at least two hours, so I jumped into the water and swam out to the arch and back again. It was a surprisingly long swim, despite the relatively quiescent current. By the time I finish, it felt like I had a really good work-out. I had half an hour to dry off and change before everyone else came back and we got the boat ready to go. I was put on the helm, and skiff line got undone and replaced, and then Ron pulled the mooring line off. Unfortunately, when I put the engine into gear to move off our mooring position, the engine didn't engage. None of us noticed at first, but after a while when we saw the shore getting closer it became obvious what had happened. Norman ran down into the engine room, and came back up a bit later, declaring that the shearing pin attaching the engine to the propellor had sheared off. Apparently, the boat was designed for there to be a loose coupling between the engine and the propellor, so that fouling the propellor wouldn't damage the engine (or the propellor). However, during a recent incident, the loose coupling broke, and Norman did not have a replacement handy, so made do with a rigid coupling. As a result, you had to baby the throttle and the gear shift, and even then once in a while, even shifting gears could shear off the pin!
Well, with the main engine disabled, Norman jumped into the skiff and to start it so he could at least tow the Illusion back into deeper water. When he tried to start the motor, however, the choke came off in his hand! At this point, there was a crowd gathering on the shore to watch the spectacle as the Illusion edge closer and closer to the beach. I felt the rudder go stiff in my hand as it dug into the sand on the beach. Tony and a few sailors from another boat came up to the Illusion and tried to push it back off the sand, but with a 20 ton boat, a few hands just wasn't enough to move it. I saw Norman rip off the cover on the skiff's outboard motor and start taking the engine apart to try to cajole it into working. It took him an agonizing 5 minutes, but he eventually got it started, and he then drove up to the bow to pick up a towline and started towing the Illusion into deeper water.
At first progress was slow and unapparent, but a few pushes from folks ashore helped it along, and soon the Illusion was headed into deeper water—but with another boat in the way. I felt a moment of error as the wheel wouldn't respond to my efforts as the rudder was still in the sandbar, but after a bit I felt the rudder free up from the sand and I turned the Illusion away from the other vessel and into the middle of the bay, where the anchor was dropped. The relief on everyone's face was apparent, but that didn't last long, as Norman was livid when he came back on board.
"You're supposed to check that the engine engages before coming off the mooring!" he shouted at Allison. "That wasn't on the check list?" "Yes it is, but you weren't looking at it!" It turned out not to be on the crew's check list, and I do remember checking it routinely when I sailed other vessels, but if you ask me this sort of thing is the skipper's responsibility, not that of the crew.
We turned off the Illusion's main engine, and Norman worked on it while the rest of us cooled our heels and relieved the exciting moments. Norman knows every piece of the boat well, including the engine, so it didn't take him 30 minutes to replace the sheering pin, and we were off again. After all that excitement, the sail down into Young Island was unexciting, taking only 90 minutes with the engine at a fairly slow speed. We pulled into the Young Island area around 4pm, dropping anchor close to the shore but further away from the dock. Lisa and I got our dive gear ready, and were dropped off at the jetty along with several others, but while they would return to the Illusion at 5:30pm, we would do the dive and then be dropped off at the Illusion by the Dive St. Vincent folks. Since Allison would be joining us for the night dive, she would be dropped off as the others were picked up.
We walked over to the dive shop, and got everything ready for the dive. By the time 5:30 rolled around, we were on the jetty waiting for the night dive to start. We saw Norman drop off Allison and pick up the rest of the crew at a jetty not far from where we were, but on the return, the skiff had its outboard out of the water and folks were out rowing. We asked Allison as she came up what was going on, and she said that the outboard had gone out. She made the comment that she didn't think that they were going to do the charter on the 15th after all, as the boat was simply not reliable enough.
The night dive was on a site close to Young Island known as Critter Junior. We were each given a flash light by Calli, and went into the water for a fairly long, 50 minute dive at shallow depth. Night scenes are completely different from day scenes—lobsters, which are usually hiding in crevices at night are out in full force, and we saw large lobsters roaming about scavenging in the open. We also saw many shrimp, and lots of other creatures that I can't remember. Allison had been a little nervous about doing the night dive (it was her first one), but once in the water she was completely comfortable and had no issues at all.
Despite the wet suit, however, I got cold somewhere around 45 minutes, and wasn't unhappy when the time was up and we returned to the dive boat and the Illusion, where the crew had kept some spaghetti for us. We met our newest crew member, Mary from New York, and went to bed worn out after all the excitement of the day.
 |
| From St. Vincent and the Grenadines |
Norman wanted to leave at 11am, but Alena, Josh and Noah wanted to wait till at least Noon, because they had wanted to take a shower, and use the internet at Steve's. Despite Norman's assurances that our travel dates were OK, it turned out that January 2nd was not a good date to fly out of St. Lucia—the customs office would be closed until 9am, and our flight left at 8:40am. This meant that we would have to depart the Illusion on January 1st, take the ferry from Bequia to St. Vincent, and then fly from St. Vincent back to St. Lucia so that Norman could discharge us from Bequia on the 31st. So we had to book an extra flight as well as a hotel room. Alena was in the same situation, so we bought our plane tickets and booked hotel rooms together.
At 10:00am, I saw that we had at least two hours, so I jumped into the water and swam out to the arch and back again. It was a surprisingly long swim, despite the relatively quiescent current. By the time I finish, it felt like I had a really good work-out. I had half an hour to dry off and change before everyone else came back and we got the boat ready to go. I was put on the helm, and skiff line got undone and replaced, and then Ron pulled the mooring line off. Unfortunately, when I put the engine into gear to move off our mooring position, the engine didn't engage. None of us noticed at first, but after a while when we saw the shore getting closer it became obvious what had happened. Norman ran down into the engine room, and came back up a bit later, declaring that the shearing pin attaching the engine to the propellor had sheared off. Apparently, the boat was designed for there to be a loose coupling between the engine and the propellor, so that fouling the propellor wouldn't damage the engine (or the propellor). However, during a recent incident, the loose coupling broke, and Norman did not have a replacement handy, so made do with a rigid coupling. As a result, you had to baby the throttle and the gear shift, and even then once in a while, even shifting gears could shear off the pin!
Well, with the main engine disabled, Norman jumped into the skiff and to start it so he could at least tow the Illusion back into deeper water. When he tried to start the motor, however, the choke came off in his hand! At this point, there was a crowd gathering on the shore to watch the spectacle as the Illusion edge closer and closer to the beach. I felt the rudder go stiff in my hand as it dug into the sand on the beach. Tony and a few sailors from another boat came up to the Illusion and tried to push it back off the sand, but with a 20 ton boat, a few hands just wasn't enough to move it. I saw Norman rip off the cover on the skiff's outboard motor and start taking the engine apart to try to cajole it into working. It took him an agonizing 5 minutes, but he eventually got it started, and he then drove up to the bow to pick up a towline and started towing the Illusion into deeper water.
At first progress was slow and unapparent, but a few pushes from folks ashore helped it along, and soon the Illusion was headed into deeper water—but with another boat in the way. I felt a moment of error as the wheel wouldn't respond to my efforts as the rudder was still in the sandbar, but after a bit I felt the rudder free up from the sand and I turned the Illusion away from the other vessel and into the middle of the bay, where the anchor was dropped. The relief on everyone's face was apparent, but that didn't last long, as Norman was livid when he came back on board.
"You're supposed to check that the engine engages before coming off the mooring!" he shouted at Allison. "That wasn't on the check list?" "Yes it is, but you weren't looking at it!" It turned out not to be on the crew's check list, and I do remember checking it routinely when I sailed other vessels, but if you ask me this sort of thing is the skipper's responsibility, not that of the crew.
 |
| From St. Vincent and the Grenadines |
We turned off the Illusion's main engine, and Norman worked on it while the rest of us cooled our heels and relieved the exciting moments. Norman knows every piece of the boat well, including the engine, so it didn't take him 30 minutes to replace the sheering pin, and we were off again. After all that excitement, the sail down into Young Island was unexciting, taking only 90 minutes with the engine at a fairly slow speed. We pulled into the Young Island area around 4pm, dropping anchor close to the shore but further away from the dock. Lisa and I got our dive gear ready, and were dropped off at the jetty along with several others, but while they would return to the Illusion at 5:30pm, we would do the dive and then be dropped off at the Illusion by the Dive St. Vincent folks. Since Allison would be joining us for the night dive, she would be dropped off as the others were picked up.
 |
| From St. Vincent and the Grenadines |
We walked over to the dive shop, and got everything ready for the dive. By the time 5:30 rolled around, we were on the jetty waiting for the night dive to start. We saw Norman drop off Allison and pick up the rest of the crew at a jetty not far from where we were, but on the return, the skiff had its outboard out of the water and folks were out rowing. We asked Allison as she came up what was going on, and she said that the outboard had gone out. She made the comment that she didn't think that they were going to do the charter on the 15th after all, as the boat was simply not reliable enough.
The night dive was on a site close to Young Island known as Critter Junior. We were each given a flash light by Calli, and went into the water for a fairly long, 50 minute dive at shallow depth. Night scenes are completely different from day scenes—lobsters, which are usually hiding in crevices at night are out in full force, and we saw large lobsters roaming about scavenging in the open. We also saw many shrimp, and lots of other creatures that I can't remember. Allison had been a little nervous about doing the night dive (it was her first one), but once in the water she was completely comfortable and had no issues at all.
Despite the wet suit, however, I got cold somewhere around 45 minutes, and wasn't unhappy when the time was up and we returned to the dive boat and the Illusion, where the crew had kept some spaghetti for us. We met our newest crew member, Mary from New York, and went to bed worn out after all the excitement of the day.
Friday, December 25, 2009
Christmas Day
There was no diving on Christmas Day, so everyone woke up late, and Norman prepared an outstanding English breakfast, with eggs, bacon, and English baked beans. "None of the sweet American stuff," he declared. Since we were allowed to stay on the boat all day, the first thing we did was to do some snorkeling off the boat! Ron had found a book that indicated that the best snorkeling in the North end of Wallilabou Bay, which explained why the snorkeling was disappointing to him the day before. We jumped off the side of the boat and swam around. The water still wasn't the crystal clear waters I was used to when diving, but there was more to see. Nevertheless, the fish were very small. After swimming nearly all the way out to the arch, I grew tired of the average snorkeling (though much better than at Bequia), and swam back to the boat. It turned out that Josh had broken his mask strap, and so he borrowed my mask and snorkel for a swim with his brother.
Lisa and I dried off, and then walked up to hill to the waterfall. On the way there, we ran into other yatchies, and they said that the waterfall was disappointingly small. When we got there, we discovered that the place was a newly designated park, and included a new building. The waterfall, while small, presented an oasis of coolness amidst the warm tropical climate, and after all that swimming in the Caribbean, it was refreshing to have a soak in cool fresh water for a change. I certainly enjoyed having the place all to ourselves—we were only interrupted by the squeal of wild pigs who had entered the park through a hole in the fence.
When we had had enough, we walked back down the road and saw the artists' shack. This man had metal sculptures all through the front yard of his house, and then all sorts of art and craft items made out of found objects such as bottle caps.
Then we returned to Steve's for another shower (the men's shower is outdoors and exposed, so it's best to take a shower on an unbusy day like Christmas day. We then sat down to read and use the internet—I had finally realized that when my Blackberry Curve 8320 was connected to a WiFi network, all calls were treated as though they were made from the US, which meant that everyone could phone home. While the boat was filled with iPhones, Nokia phones, and yes, even a Nexus One, the phone that got the most use was still the Blackberry, mostly because of the unlimited international data roaming plan and the UMA service.
Norman also volunteered to cook Christmas dinner tonight, and it turned out to be an amazing 10 course meal. How he managed that with that tiny galley on the boat still amazes me when I think about it. Champaign, and both red and white wine was brought out, and the entire thing was topped off with Chocolate Volcano cake. We went to bed feeling quite full and satisfied.
 |
| From St. Vincent and the Grenadines |
Lisa and I dried off, and then walked up to hill to the waterfall. On the way there, we ran into other yatchies, and they said that the waterfall was disappointingly small. When we got there, we discovered that the place was a newly designated park, and included a new building. The waterfall, while small, presented an oasis of coolness amidst the warm tropical climate, and after all that swimming in the Caribbean, it was refreshing to have a soak in cool fresh water for a change. I certainly enjoyed having the place all to ourselves—we were only interrupted by the squeal of wild pigs who had entered the park through a hole in the fence.
 |
| From St. Vincent and the Grenadines |
When we had had enough, we walked back down the road and saw the artists' shack. This man had metal sculptures all through the front yard of his house, and then all sorts of art and craft items made out of found objects such as bottle caps.
 |
| From St. Vincent and the Grenadines |
Then we returned to Steve's for another shower (the men's shower is outdoors and exposed, so it's best to take a shower on an unbusy day like Christmas day. We then sat down to read and use the internet—I had finally realized that when my Blackberry Curve 8320 was connected to a WiFi network, all calls were treated as though they were made from the US, which meant that everyone could phone home. While the boat was filled with iPhones, Nokia phones, and yes, even a Nexus One, the phone that got the most use was still the Blackberry, mostly because of the unlimited international data roaming plan and the UMA service.
 |
| From St. Vincent and the Grenadines |
Norman also volunteered to cook Christmas dinner tonight, and it turned out to be an amazing 10 course meal. How he managed that with that tiny galley on the boat still amazes me when I think about it. Champaign, and both red and white wine was brought out, and the entire thing was topped off with Chocolate Volcano cake. We went to bed feeling quite full and satisfied.
 |
| From St. Vincent and the Grenadines |
Thursday, December 24, 2009
Wallilabou Bay
Apparently, the day before, a new boat had arrived, which forced Norman to switching mooring buoys. Norman wasn't very happy about it, because he had laid down the mooring buoy himself. Nevertheless, the Illusion was moved and everyone was happy. However, during the night the mooring broke loose, so the boat next to us drifted towards the rocks on the north end of the bay. Everyone on the boat had awakened upon hearing the shouts except Lisa and I! Apparently, it was very exciting with lots of pulling and shouting, but it turned out that there were railroad tracks underneath that boat, and they had just gotten stuck on them. A little bit of throttle and they were free. They sailed off and we never saw them again.
Today's Divemaster was DJ, a quiet St. Vincent native. Dive 3 was at New Guinea Reef, and I learned to be really comfortable there, and took the best picture of a Moray Eel that I had taken the entire trip. A barracuda was spotted, and I also saw some jelly fish and got a good picture of them.
Dive 4 was at Turtle Reef, where I spotted some Sphagetti Eel and had 100' of visibility. This was ideal diving, warm water, no current, and lots and lots of wildlife. DJ mentioned that a night dive was planned for December 26th, and we committed there and then to do it. In fact, since I knew we wouldn't be leaving until the 28th, I committed us to a 5 dive package.
We ate lunch, and then took the bus downtown where it took me about 25 minutes to find an ATM that would take my american ATM card and give me money. Then we got back to Wallilabou bay, but upon arriving discovered that Lisa had stuck the camera into her pocket and it had fallen right out of it during the bus ride, so we lost 2 days worth of pictures, including the ones that I was making just as I was getting comfortable with shooting underwater! I was so bummed that I ordered a beer at Steve's to the sound of Ron saying, "I can't believe Piaw is drinking alcohol!"
I did pass on Dive St. Vincent's snorkel trip information: they ran a trip to the Falls of Baleine in the north of St. Vincent, and a second snorkel site, with all day rum punch for US$60 a head. The price was too steep for everyone there, so they passed. Allison, however, was interested in doing the night dive with us, since she had never done one before.
Wednesday, December 23, 2009
Wallilabou Bay
We woke up early in the morning, as Sarang, Norman, Alena, and Allison were headed over to the airport. Sarang had to return to Utah today, Alena needed to get her baggage, Norman and Allison had to deal with business and provisions. We all said our goodbyes to Sarang, had breakfast, and then Lisa and I left at 8:30 to catch a bus to Buccament bay while Sue, Ron, Josh, and Noah stayed in the area.
It turned out to be a 10 minute walk to the bus stop, but busses being the way they are on St. Vincent, we had gotten only three-quarters of the way there before a bus stopped to pick us up. It turns out that busses on St. Vincent are all privately run: they are owned by the driver, who also typically has a conductor who's job it is to not just collect money, but also to solicit customers and pack passengers into the bus like sardines!
The drive along the coast to Buccament bay was beautiful, especially since the bus wasn't crowded and full. When we walked out to the coast, though, I realized that we were on the wrong side of a big river between us and the jetty where we were to be picked up. A quick call to the dive shop confirmed this, and we had to walk back out to the main road, and make a right into the village through an open field and then along the stream. However, the road then turned across the stream again in a little bit.
We stopped and talked to a local, and he showed us a place to hop across the stream on boulders, and then we followed his directions past a hotel under construction before getting onto the jetty. The entire ordeal took a good half an hour, and I was glad that I was paranoid enough to start the day very early. In 15 minutes the Dive St. Vincent boat showed up and we were helped onto the Dive boat by the dive master, Calli. There was another person diving with us that day, and unlike us, he had paid for a full-on dive package, complete with a land resort.
Calli was a big St. Vincent native, and he handled the speedboat with ease, pulling us seemingly just around the corner, and then single-handedly picking up the mooring buoy with ease and tying the boat down. He then dragged out all the equipment, fitted Lisa's gear to the dive tank, and then got us all ready to dive.
Our first dive was known as The Wall, which was a coral wall that extended deep into the Bay. We dived down and followed the dive master almost immediately down to 92 feet. Calli was an incredibly good Divemaster, pointing out sights and wildlife constantly, and identifying anything we needed. We even spotted the rare golden hamlet, and he found us a sea horse with its tail wrapped around some coral. The water clarity was amazing, and our eyes were almost poping out of our masks by the time we were then. I decided there and then that we would do as much diving here on St. Vincent as possible.
Our second dive was at Pinnacle Rock. The sun lit up the shallow water, giving us dappled looks under water as we explored. It was a beautiful dive, and we decided that we would sign up for more dives the next day.
Calli told us that it was easier for us to get a taxi back from Kingstown, so we were driven back to the dive shop. We used the showers at the dive shop and left Lisa's dive gear at the shop since we were going to be diving again tomorrow, then had lunch at Xcape almost right next to the dive shop on the beach facing Young Island.
After that, we took the taxi into Kingstown, where we wandered around looking for the supermarket for snacks for the surface intervals. After that, we hopped onto the taxi back to Wallilabou Bay, and then pulled ourselves across to the Illusion from shore. We had no sooner stepped on board, however, than have Norman come up onto deck and holler at us. "You're too early! You can only come back after 5:30pm! You can tell the others that too. I'm working on the boat all day and can't have you folks underfoot!"
So we had to leave the boat and visit Steve's where Ron, Sue, Josh, and Noah were also waiting out the skipper. Apparently, Norman and Allison had committed to doing a charter in the middle of January, and all that renovation was happening to put more guests onto the boat over the next few days as well as for the charter customers. We asked the others about their day, and they said that they went to Kingstown and explored and shopped, but had to endure a taxi ride with 22 people on board!
It turned out to be a 10 minute walk to the bus stop, but busses being the way they are on St. Vincent, we had gotten only three-quarters of the way there before a bus stopped to pick us up. It turns out that busses on St. Vincent are all privately run: they are owned by the driver, who also typically has a conductor who's job it is to not just collect money, but also to solicit customers and pack passengers into the bus like sardines!
The drive along the coast to Buccament bay was beautiful, especially since the bus wasn't crowded and full. When we walked out to the coast, though, I realized that we were on the wrong side of a big river between us and the jetty where we were to be picked up. A quick call to the dive shop confirmed this, and we had to walk back out to the main road, and make a right into the village through an open field and then along the stream. However, the road then turned across the stream again in a little bit.
We stopped and talked to a local, and he showed us a place to hop across the stream on boulders, and then we followed his directions past a hotel under construction before getting onto the jetty. The entire ordeal took a good half an hour, and I was glad that I was paranoid enough to start the day very early. In 15 minutes the Dive St. Vincent boat showed up and we were helped onto the Dive boat by the dive master, Calli. There was another person diving with us that day, and unlike us, he had paid for a full-on dive package, complete with a land resort.
Calli was a big St. Vincent native, and he handled the speedboat with ease, pulling us seemingly just around the corner, and then single-handedly picking up the mooring buoy with ease and tying the boat down. He then dragged out all the equipment, fitted Lisa's gear to the dive tank, and then got us all ready to dive.
Our first dive was known as The Wall, which was a coral wall that extended deep into the Bay. We dived down and followed the dive master almost immediately down to 92 feet. Calli was an incredibly good Divemaster, pointing out sights and wildlife constantly, and identifying anything we needed. We even spotted the rare golden hamlet, and he found us a sea horse with its tail wrapped around some coral. The water clarity was amazing, and our eyes were almost poping out of our masks by the time we were then. I decided there and then that we would do as much diving here on St. Vincent as possible.
Our second dive was at Pinnacle Rock. The sun lit up the shallow water, giving us dappled looks under water as we explored. It was a beautiful dive, and we decided that we would sign up for more dives the next day.
Calli told us that it was easier for us to get a taxi back from Kingstown, so we were driven back to the dive shop. We used the showers at the dive shop and left Lisa's dive gear at the shop since we were going to be diving again tomorrow, then had lunch at Xcape almost right next to the dive shop on the beach facing Young Island.
After that, we took the taxi into Kingstown, where we wandered around looking for the supermarket for snacks for the surface intervals. After that, we hopped onto the taxi back to Wallilabou Bay, and then pulled ourselves across to the Illusion from shore. We had no sooner stepped on board, however, than have Norman come up onto deck and holler at us. "You're too early! You can only come back after 5:30pm! You can tell the others that too. I'm working on the boat all day and can't have you folks underfoot!"
So we had to leave the boat and visit Steve's where Ron, Sue, Josh, and Noah were also waiting out the skipper. Apparently, Norman and Allison had committed to doing a charter in the middle of January, and all that renovation was happening to put more guests onto the boat over the next few days as well as for the charter customers. We asked the others about their day, and they said that they went to Kingstown and explored and shopped, but had to endure a taxi ride with 22 people on board!
We took showers at Steve's, and lounged around. Someone at Steve's saw my Vibram Five Fingers and offered to buy them off my feet, but he had feet that were the wrong size for my shoes.
The night was spent discussing plans: the others were going to snorkel and explore the waterfall within walking distance. Norman said that we would only move to Young Island on the 26th, and we would actually spend 2 nights there, which gave us lots of time for diving. I was asked to investigate if the dive shop would do snorkelling trips as well.
The night was spent discussing plans: the others were going to snorkel and explore the waterfall within walking distance. Norman said that we would only move to Young Island on the 26th, and we would actually spend 2 nights there, which gave us lots of time for diving. I was asked to investigate if the dive shop would do snorkelling trips as well.
Tuesday, December 22, 2009
La Soufriere
We woke up at 5:30am and ate a hurried breakfast before heading out to Tony's to wait for our guide, Franklin, to arrive by 6:00am. Unfortunately, we had all forgotten that we were in the Caribbean, on island time, so Franklin did not arrive until 6:30am, along with his brother. His explanation was that he went partying last night and missed the bus. Since it was getting rather late, he persuaded us that it would be better to hire a taxi to take us to the La Soufriere trail head, rather than take the bus and then be forced to walk to the trail head.
The taxi ride was expensive, but since there were many of us the split wasn't too bad. Since we were all under-equipped for extensive hiking, a stop was made in order to procure water and snacks. The drive was on St. Vincent's coastal road, up and down the hills. I was very impressed by how rugged St. Vincent was, though given the volcanic nature of the islands perhaps I shouldn't have been surprised. The taxi driver barrelled along at high speed, blasting Caribbean Christmas music on his CD player, which despite the rough roads surprisingly did not skip very often.
The start of the La Soufriere hike involves taking off your hiking shoes and wading across several streams to get to the beach. There would be no cheating on this hike—we truly would be starting from sea level. In the early morning, the misty air lent the walk a mysterious nature—until we ran into someone walking his cows on the beach.
Leaving the beach behind, the trail led us through several canyons, which would be a respite from the heat later on in the day. Once past the canyons, the trail headed steeply up the climb, and it was with relief that we approached the first rest stop of the day, the Rastaman's hut. We were given fresh fruit (including one I had never seen before, a tropical pink plum-like fruit), and in the case of two of our party, some weed to smoke.
After we left the Rastman's hut, the trail started becoming steeper, but was nevertheless mostly shaded. A little while later we passed a donkey parked on the trail for some unknown reason. With 10 people on one hike, the going was a bit slow, but I didn't complain about the pace, because the views around us were so beautiful! You could see ridge line after ridgeline before and behind us, and the slopes all dropped steeply into the sea. This was not what I typically think of as tropical island hiking, since the shade was plentiful, and by the time we ran out of tree cover, there was a beautiful breeze which took away the heat we generated, yet wasn't cold. The stunning views helped. Finally, as we got near the rim of the caldera, I couldn't help myself and took off at speed. Franklin was even faster, however.
La Soufriere is a volcano that last erupted in 1979. The bottom of the Caldera still showed spots that steamed, and the rim is rugged. While the highest point on the volcano is 4048 feet, my estimate was that the rim itself was probably no more than 3300 feet in elevation (though again, you had to walk from sea level). We sat and ate lunch, drank, and walked around enjoying the views and sense of achievement. Alena had finally heard that her lugguage had been found and was arriving in St. Vincent tonight, and was excited to finally have more than the clothes she had in her carry-on lugguage.
The descent itself was fairly easy, but as usual tough on the knees. There were only 2 stops this time, the first to shake down some Avocado trees for some fruit (they took a long time to ripen, so we didn't have them until near the end of our trip), and another visit to the Rastaman's hut for more fruit.
Upon returning to the bottom, Sarang arranged for the taxi to drive us to Dark View Falls, where I stood in my swimming trunks and enjoyed a fresh-water shower. Then, on the way to a snack, we saw a coconut stand, and all of us got out of the car and watched while the coconut stand guy got his neighbors and friends to shimmy up a coconut tree and kick down coconuts so we could get refreshing coconut water! We each drank a coconut and then filled our water bottles for about 2 EC dollars each before moving on to our afternoon Roti.
By the time we got back to the Illusion, it was 6pm and we were quite tired. Upon returning to the boat, we saw water lines leading into the Illusion's deck fittings to fill the water tanks with water, but unfortunately, when Josh took a drink out of the tap the water tasted like turpentine! We notified Allison, who told us that yes, they were aware of the problem, and there were now separate bottles for drinking water while the Illusion's water tanks were flushed and cleaned to cope with this new event.
I called Dive St. Vincent, which was in my copy of the Caribbean Dive Guide, and after realizing that we were going to be here in Wallilabou Bay until the 26th, decided to schedule 2 dives for tomorrow. They weren't willing to pick us up from the Illusion, but we could take the bus to Buccament Bay for 4EC each.
Dinner was a lovely curry, which was packed away into our stomachs at record pace, indicating that we had all worked quite hard that day. All of us slept soundly and well.
The taxi ride was expensive, but since there were many of us the split wasn't too bad. Since we were all under-equipped for extensive hiking, a stop was made in order to procure water and snacks. The drive was on St. Vincent's coastal road, up and down the hills. I was very impressed by how rugged St. Vincent was, though given the volcanic nature of the islands perhaps I shouldn't have been surprised. The taxi driver barrelled along at high speed, blasting Caribbean Christmas music on his CD player, which despite the rough roads surprisingly did not skip very often.
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| From St. Vincent and the Grenadines |
The start of the La Soufriere hike involves taking off your hiking shoes and wading across several streams to get to the beach. There would be no cheating on this hike—we truly would be starting from sea level. In the early morning, the misty air lent the walk a mysterious nature—until we ran into someone walking his cows on the beach.
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| From St. Vincent and the Grenadines |
Leaving the beach behind, the trail led us through several canyons, which would be a respite from the heat later on in the day. Once past the canyons, the trail headed steeply up the climb, and it was with relief that we approached the first rest stop of the day, the Rastaman's hut. We were given fresh fruit (including one I had never seen before, a tropical pink plum-like fruit), and in the case of two of our party, some weed to smoke.
 |
| From St. Vincent and the Grenadines |
After we left the Rastman's hut, the trail started becoming steeper, but was nevertheless mostly shaded. A little while later we passed a donkey parked on the trail for some unknown reason. With 10 people on one hike, the going was a bit slow, but I didn't complain about the pace, because the views around us were so beautiful! You could see ridge line after ridgeline before and behind us, and the slopes all dropped steeply into the sea. This was not what I typically think of as tropical island hiking, since the shade was plentiful, and by the time we ran out of tree cover, there was a beautiful breeze which took away the heat we generated, yet wasn't cold. The stunning views helped. Finally, as we got near the rim of the caldera, I couldn't help myself and took off at speed. Franklin was even faster, however.
 |
| From St. Vincent and the Grenadines |
La Soufriere is a volcano that last erupted in 1979. The bottom of the Caldera still showed spots that steamed, and the rim is rugged. While the highest point on the volcano is 4048 feet, my estimate was that the rim itself was probably no more than 3300 feet in elevation (though again, you had to walk from sea level). We sat and ate lunch, drank, and walked around enjoying the views and sense of achievement. Alena had finally heard that her lugguage had been found and was arriving in St. Vincent tonight, and was excited to finally have more than the clothes she had in her carry-on lugguage.
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| From St. Vincent and the Grenadines |
The descent itself was fairly easy, but as usual tough on the knees. There were only 2 stops this time, the first to shake down some Avocado trees for some fruit (they took a long time to ripen, so we didn't have them until near the end of our trip), and another visit to the Rastaman's hut for more fruit.
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| From St. Vincent and the Grenadines |
Upon returning to the bottom, Sarang arranged for the taxi to drive us to Dark View Falls, where I stood in my swimming trunks and enjoyed a fresh-water shower. Then, on the way to a snack, we saw a coconut stand, and all of us got out of the car and watched while the coconut stand guy got his neighbors and friends to shimmy up a coconut tree and kick down coconuts so we could get refreshing coconut water! We each drank a coconut and then filled our water bottles for about 2 EC dollars each before moving on to our afternoon Roti.
 |
| From St. Vincent and the Grenadines |
By the time we got back to the Illusion, it was 6pm and we were quite tired. Upon returning to the boat, we saw water lines leading into the Illusion's deck fittings to fill the water tanks with water, but unfortunately, when Josh took a drink out of the tap the water tasted like turpentine! We notified Allison, who told us that yes, they were aware of the problem, and there were now separate bottles for drinking water while the Illusion's water tanks were flushed and cleaned to cope with this new event.
I called Dive St. Vincent, which was in my copy of the Caribbean Dive Guide, and after realizing that we were going to be here in Wallilabou Bay until the 26th, decided to schedule 2 dives for tomorrow. They weren't willing to pick us up from the Illusion, but we could take the bus to Buccament Bay for 4EC each.
Dinner was a lovely curry, which was packed away into our stomachs at record pace, indicating that we had all worked quite hard that day. All of us slept soundly and well.
Monday, December 21, 2009
Port Elizabeth to Wallilabou Bay
We woke up this morning and got our dive gear ready. For me, this meant my mask and snorkel, but for Lisa, this meant her BCD, wet suit, and regulator/octopus as well: she had recently (and tragically) inherited that gear from a friend with identical height and build who passed away from breast cancer without fulfilling her dream of diving in the Caribbean. Lisa would fulfill that dream for her.
Along with Noah and Josh, we were dropped off at the Gingerbread House ferry dock, just a short walk away from Bequia Dive Adventures, a dive outfit that Norman recommended. They were prepared to take us diving right away, but Noah and Josh had to do some serious pool work first, so Ron told Norman not to expect us back until 1pm. This was fine with the rest of the crew, since they wanted to go shopping for food anyway.
Our first dive in the area was to be the Moon Homes. These were a set of homes built out of flotsam and jetsam off the coast of Bequia, and were used as artists' retreats (albeit rich artists, as the rent is quite high). When we dropped down into the water, it became obvious that Lisa's new dive gear was very good stuff: while in rented equipment she frequently had a hard time achieving neutral buoyancy, with this gear, she had no problem keeping a consistent depth, and achieving whatever she wanted under water. I attribute this to the integrated weight belt and the closer fit of the wet suit.
While I had lots of complaints about the visibility from the beaches on Bequia, the diving bore no such complaints. Here, we got the classic 70 foot visibility that I associate with the Caribbean. The water was calm, and the fish and coral plentiful. I was very pleased with the dive, and made a note to return for more diving since we were scheduled to be in Bequia for the New Year.
When we were done with our dives, it was Noah and Josh's turn, since they had completed their dive training, so we went to town to get some snacks for the sailing trip, since we knew we would not be stopping for lunch. Alena and Sarang went to the Princess Margaret Beach, while Sue and Ron walked all around town.
We got back to the Illusion around 1:00pm, and immediately got ready to set sail. From Bequia to St. Vincent was a short sail, but we were going all the way to Wallibou Bay. Norman decided to give Noah and Josh lessons on navigation, while Sue was given the helm. Sailing into Wallilabou Bay around sunset, we had views of the Arch made famous by The Pirates of the Caribbean.
Anchoring was an involved process, because Norman wanted to park the boat with the stern facing Tony's, a bar right on the beach. Right in front of Tony's was the left-over facade from filming the movie, including a declaration of the Pirate's retreat. A man with a rowboat rowed out to greet the Illusion, picked up a mooring buoy, and then a line from the bow was run through the mooring buoy. Then a line was carried off the stern by rowboat and tied to anchor points on the shore., and then tied off. This arrangement made sense after Norman wired up the skiff with two lines: one line would be pulled to move the skiff to shore, and another would be pulled to bring the skiff to the Illusion. This allowed us to get on and off the Illusion without using engine power, and independent of each other.
We went ashore to get some drinks. Just like everywhere else in the Caribbean, the Coca-Cola served in St. Vincent is made with real sugar, rather than high fructose corn syrup, and was a real treat. The others tried various drinks including Tony's Rum Punch.
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After dinner, Sarang asked Norman about his time in jail for manufacturing amphetamines. This was a long and involved story, including descriptions of suitcases of cash, how the drug as cut, and how many people were involved. It was all a lot of fun, but left me scratching my head over a few details. We were going to have an early morning the next day, since the hike up the Volcano was to start at 6:00am, so we turned in early.
Along with Noah and Josh, we were dropped off at the Gingerbread House ferry dock, just a short walk away from Bequia Dive Adventures, a dive outfit that Norman recommended. They were prepared to take us diving right away, but Noah and Josh had to do some serious pool work first, so Ron told Norman not to expect us back until 1pm. This was fine with the rest of the crew, since they wanted to go shopping for food anyway.
 |
| From St. Vincent and the Grenadines |
Our first dive in the area was to be the Moon Homes. These were a set of homes built out of flotsam and jetsam off the coast of Bequia, and were used as artists' retreats (albeit rich artists, as the rent is quite high). When we dropped down into the water, it became obvious that Lisa's new dive gear was very good stuff: while in rented equipment she frequently had a hard time achieving neutral buoyancy, with this gear, she had no problem keeping a consistent depth, and achieving whatever she wanted under water. I attribute this to the integrated weight belt and the closer fit of the wet suit.
 |
| From St. Vincent and the Grenadines |
While I had lots of complaints about the visibility from the beaches on Bequia, the diving bore no such complaints. Here, we got the classic 70 foot visibility that I associate with the Caribbean. The water was calm, and the fish and coral plentiful. I was very pleased with the dive, and made a note to return for more diving since we were scheduled to be in Bequia for the New Year.
When we were done with our dives, it was Noah and Josh's turn, since they had completed their dive training, so we went to town to get some snacks for the sailing trip, since we knew we would not be stopping for lunch. Alena and Sarang went to the Princess Margaret Beach, while Sue and Ron walked all around town.
We got back to the Illusion around 1:00pm, and immediately got ready to set sail. From Bequia to St. Vincent was a short sail, but we were going all the way to Wallibou Bay. Norman decided to give Noah and Josh lessons on navigation, while Sue was given the helm. Sailing into Wallilabou Bay around sunset, we had views of the Arch made famous by The Pirates of the Caribbean.
 |
| From St. Vincent and the Grenadines |
Anchoring was an involved process, because Norman wanted to park the boat with the stern facing Tony's, a bar right on the beach. Right in front of Tony's was the left-over facade from filming the movie, including a declaration of the Pirate's retreat. A man with a rowboat rowed out to greet the Illusion, picked up a mooring buoy, and then a line from the bow was run through the mooring buoy. Then a line was carried off the stern by rowboat and tied to anchor points on the shore., and then tied off. This arrangement made sense after Norman wired up the skiff with two lines: one line would be pulled to move the skiff to shore, and another would be pulled to bring the skiff to the Illusion. This allowed us to get on and off the Illusion without using engine power, and independent of each other.
 |
| From St. Vincent and the Grenadines |
We went ashore to get some drinks. Just like everywhere else in the Caribbean, the Coca-Cola served in St. Vincent is made with real sugar, rather than high fructose corn syrup, and was a real treat. The others tried various drinks including Tony's Rum Punch.
 |
| From St. Vincent and the Grenadines |
After dinner, Sarang asked Norman about his time in jail for manufacturing amphetamines. This was a long and involved story, including descriptions of suitcases of cash, how the drug as cut, and how many people were involved. It was all a lot of fun, but left me scratching my head over a few details. We were going to have an early morning the next day, since the hike up the Volcano was to start at 6:00am, so we turned in early.
Sunday, December 20, 2009
Bequia
I woke up at 6am today, which was my indication that my cold was mostly over. Yet when the opportunity came up to dive, I declined it, partly because Lisa didn't want to go, but because of fear that any lingering congestion would make equalization difficult.
We were dropped off at the main jetty in town, where there was a fruit and vegetable market, a T-shirt/souvenier market, a collection of restaurants, super markets, and many such services. We had heard that Friendship Bay had a great beach with good swimming and snorkeling, so all of us piled into a taxi and rode it over to Friendship Bay, where there was a resort with a diner and restaurants. We arrived there at 10:00am, promptly changed into our bathing gear, got out our snorkels and fins, and jumped into the water. Lisa didn't feel like swimming that day, so she went for a massage instead.
Unfortunately, the water was disappointing. Visibility was about 5 feet at most, not at all what I expected from a Caribbean snorkeling spot. There wasn't much wild-life, but Alena claimed that there was another spot a bit aways out of the way. After a brief break, I swam over to the area, and it was better, but still not spectacular. With that disappointment, we had lunch and then walked over to the other side of the island. Along the way, we saw many local tropical fruits such as papayas, but nothing that was ripe and easily picked. The weather was warm, and by the time we reached the saddle between Friendship Bay and Port Elizabeth, I was ready for another swim. We saw a sign that pointed to Lower Bay Beach, and decided to explore and take a look.
Lower Bay Beach turned out to be a beautiful beach, but had a very strange shelf just before the beach so there was a lot of breakers. After a short snacker, Ron and Sue decided to keep walking, but the rest of us decided to try the swimming. I took a couple of long swims after a snorkel revealed that there was really nothing to see in the area (again). I then discovered the big disadvantage of the Vibram Five Finger: once sand gets into them, it's pretty darn impossible to get sand out again without a washing machine. It was getting to be 4:30pm anyway, so we took a taxi ride back to Port Elizabeth where the only place with showers was the Bistro. We took turns taking showers, and then walked over to the jetty dock, which took far longer than we expected, rendering us about 10 minutes late.
By the time we took a water taxi back to the Illusion, Norman was hopping mad. "When I say 5:30, I mean 5:30, not 5:40. And if you don't call us before 6:00pm telling us that you're late, we'll assume that you're staying ashore and having dinner on your own."
Despite that bit of a downer, we agreed over dinner that it was quite a nice day. Lisa thought she'd be up for diving tomorrow, so along with Josh and Noah we agreed that we would try to get to do a dive tomorrow morning before the Illusion left for Wallilabou Bay. Sarang wanted to hike up a volcano before he left on the 23rd, and Wallilabou Bay would be a good place to stage such an assault.
We were dropped off at the main jetty in town, where there was a fruit and vegetable market, a T-shirt/souvenier market, a collection of restaurants, super markets, and many such services. We had heard that Friendship Bay had a great beach with good swimming and snorkeling, so all of us piled into a taxi and rode it over to Friendship Bay, where there was a resort with a diner and restaurants. We arrived there at 10:00am, promptly changed into our bathing gear, got out our snorkels and fins, and jumped into the water. Lisa didn't feel like swimming that day, so she went for a massage instead.
Unfortunately, the water was disappointing. Visibility was about 5 feet at most, not at all what I expected from a Caribbean snorkeling spot. There wasn't much wild-life, but Alena claimed that there was another spot a bit aways out of the way. After a brief break, I swam over to the area, and it was better, but still not spectacular. With that disappointment, we had lunch and then walked over to the other side of the island. Along the way, we saw many local tropical fruits such as papayas, but nothing that was ripe and easily picked. The weather was warm, and by the time we reached the saddle between Friendship Bay and Port Elizabeth, I was ready for another swim. We saw a sign that pointed to Lower Bay Beach, and decided to explore and take a look.
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| From St. Vincent and the Grenadines |
Lower Bay Beach turned out to be a beautiful beach, but had a very strange shelf just before the beach so there was a lot of breakers. After a short snacker, Ron and Sue decided to keep walking, but the rest of us decided to try the swimming. I took a couple of long swims after a snorkel revealed that there was really nothing to see in the area (again). I then discovered the big disadvantage of the Vibram Five Finger: once sand gets into them, it's pretty darn impossible to get sand out again without a washing machine. It was getting to be 4:30pm anyway, so we took a taxi ride back to Port Elizabeth where the only place with showers was the Bistro. We took turns taking showers, and then walked over to the jetty dock, which took far longer than we expected, rendering us about 10 minutes late.
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| From St. Vincent and the Grenadines |
By the time we took a water taxi back to the Illusion, Norman was hopping mad. "When I say 5:30, I mean 5:30, not 5:40. And if you don't call us before 6:00pm telling us that you're late, we'll assume that you're staying ashore and having dinner on your own."
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| From St. Vincent and the Grenadines |
Despite that bit of a downer, we agreed over dinner that it was quite a nice day. Lisa thought she'd be up for diving tomorrow, so along with Josh and Noah we agreed that we would try to get to do a dive tomorrow morning before the Illusion left for Wallilabou Bay. Sarang wanted to hike up a volcano before he left on the 23rd, and Wallilabou Bay would be a good place to stage such an assault.
Review: Transition
Review: Transition
Transition is Iain M. Banks' latest science fiction novel. It's about world hopping, multiple dimensions, and a cross-world organization that calls itself “The Concern”. While an ostensibly benevolent organization, The Concern still has the need to perform assassinations and other unsavory tasks, which means that they have to hire, train, and then deploy such individuals.
The novel is written from three perspectives: a patient in a hospital in an unknown world, who immediately identifies himself as an unreliable narrator, Adrian, a drug-dealer/hedge fund manager who's incredibly self-centered, and Temudjin Oh, an assassin for the concern. The three threads interweave, though not along the same time-line and definitely not all on the same world.
However, recurring characters flit between the narratives, representing opposing forces within the Concern. The conflict, however, seems far too black and white for a typical Banks novel, and the theatrics and special effects seem calculated for a science fiction summer extravaganza rather than for a cerebral novel that somehow makes comments about our society (one of the alternate worlds visited is one in which the Christian religion is the terrorist prone organization). Unfortunately, these side trips and diversions never get developed into full fruition, and the finale seems at most mildly satisfying.
While this was an entertaining novel, I can't say that it is one of Banks' best. Good for an airplane, though, but paying the $9.99 Kindle price seemed a bit much.
Transition is Iain M. Banks' latest science fiction novel. It's about world hopping, multiple dimensions, and a cross-world organization that calls itself “The Concern”. While an ostensibly benevolent organization, The Concern still has the need to perform assassinations and other unsavory tasks, which means that they have to hire, train, and then deploy such individuals.
The novel is written from three perspectives: a patient in a hospital in an unknown world, who immediately identifies himself as an unreliable narrator, Adrian, a drug-dealer/hedge fund manager who's incredibly self-centered, and Temudjin Oh, an assassin for the concern. The three threads interweave, though not along the same time-line and definitely not all on the same world.
However, recurring characters flit between the narratives, representing opposing forces within the Concern. The conflict, however, seems far too black and white for a typical Banks novel, and the theatrics and special effects seem calculated for a science fiction summer extravaganza rather than for a cerebral novel that somehow makes comments about our society (one of the alternate worlds visited is one in which the Christian religion is the terrorist prone organization). Unfortunately, these side trips and diversions never get developed into full fruition, and the finale seems at most mildly satisfying.
While this was an entertaining novel, I can't say that it is one of Banks' best. Good for an airplane, though, but paying the $9.99 Kindle price seemed a bit much.
Saturday, December 19, 2009
Rodney Bay to Bequia
The morning started out with introductions to the last two of our outstanding crew, Ron and Sue, both experienced sailors from Michigan. They were neighbors, and Ron owned a Catamaran over at St. Vincent as part of the Moorings charter for many years, while Sue had raced sailboats. They were both retired, and Ron in particular had spent quite a bit of time researching cheap ways to sail and dive. Ron was formerly worked as a fund raiser, retired from that and ended up being a real-estate developer, and finally retired from that just as the market peaked.
The furler had been fixed the day before, but there was a bit of last minute shopping to do, and Norman had to register the crew before leaving St. Lucia, so everyone went ashore for long enough to do some shopping. We were planning a long sail today, so the awning came down, and Norman directed everyone on how to take down the awning.
We once again set sail with the motor on, but this time went past Marigot bay and kept going towards the Southern end of St. Lucia, with the beautiful Pitons in the background. The wind was light, since we were well in St. Lucia's wind-shadow, so we had to keep the engine going. However, that also meant that the boat wasn't heeled over, so it made a stable platform for photographs, and for everyone to get to know each other.
Once out of St. Lucia's wind shadow, Norman had us raise the stay sail, and with the persistent winds, we got enough speed that the engine could be turned off for some true sailing. The boat heeled over nicely enough, but it was a long crossing to St. Vincent. Our destination was to be Bequia, which was the island past St. Vincent, with its tall volcano which would generate its own weather system and shield us from the wind.
In the midst of the crossing, the sun set behind some pink and red clouds, giving us a glorious view, and of course, forecasting good weather for the next day. "Red sky at night, sailor's delight." When night fell, we saw the stars in their full glory, since it was a new moon night. In addition to unfamiliar constellations (I had forgotten to install a star map application onto Lisa's android phone), we also saw the huge band of the milky way, all lit up to make the dark end of St. Vincent ahead of us more prominent.
As we approached St. Vincent, I became very happy that I was not the skipper on this boat: being unfamiliar with the waters, it was very difficult to see what signs Norman was looking for before he started to steer us around the leeward side of St. Vincent. Finally, at 8pm we entered St. Vincent's wind-shadow, and the boat stopped heeling. In the quiet zone, Allison could finally prepare dinner, and we ate a late dinner at 9pm. Norman started up the engine again, and then told everyone who wanted to sleep to go to bed.
I didn't think I could sleep with the engine running, but between ear plugs, my cold, and general weariness, I fell into a deep sleep and did not wake until the next day.
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| From St. Vincent and the Grenadines |
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| From St. Vincent and the Grenadines |
The furler had been fixed the day before, but there was a bit of last minute shopping to do, and Norman had to register the crew before leaving St. Lucia, so everyone went ashore for long enough to do some shopping. We were planning a long sail today, so the awning came down, and Norman directed everyone on how to take down the awning.
We once again set sail with the motor on, but this time went past Marigot bay and kept going towards the Southern end of St. Lucia, with the beautiful Pitons in the background. The wind was light, since we were well in St. Lucia's wind-shadow, so we had to keep the engine going. However, that also meant that the boat wasn't heeled over, so it made a stable platform for photographs, and for everyone to get to know each other.
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| From St. Vincent and the Grenadines |
Once out of St. Lucia's wind shadow, Norman had us raise the stay sail, and with the persistent winds, we got enough speed that the engine could be turned off for some true sailing. The boat heeled over nicely enough, but it was a long crossing to St. Vincent. Our destination was to be Bequia, which was the island past St. Vincent, with its tall volcano which would generate its own weather system and shield us from the wind.
In the midst of the crossing, the sun set behind some pink and red clouds, giving us a glorious view, and of course, forecasting good weather for the next day. "Red sky at night, sailor's delight." When night fell, we saw the stars in their full glory, since it was a new moon night. In addition to unfamiliar constellations (I had forgotten to install a star map application onto Lisa's android phone), we also saw the huge band of the milky way, all lit up to make the dark end of St. Vincent ahead of us more prominent.
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| From St. Vincent and the Grenadines |
As we approached St. Vincent, I became very happy that I was not the skipper on this boat: being unfamiliar with the waters, it was very difficult to see what signs Norman was looking for before he started to steer us around the leeward side of St. Vincent. Finally, at 8pm we entered St. Vincent's wind-shadow, and the boat stopped heeling. In the quiet zone, Allison could finally prepare dinner, and we ate a late dinner at 9pm. Norman started up the engine again, and then told everyone who wanted to sleep to go to bed.
I didn't think I could sleep with the engine running, but between ear plugs, my cold, and general weariness, I fell into a deep sleep and did not wake until the next day.
Friday, December 18, 2009
Rodney Bay
Lisa and I decided to stay aboard this morning, which meant that we got assigned dish washing duties out of sequence! Well, this was fine by me, since it meant that I got some extra reading time while Norman and Allison were out shopping, and Sarang went swimming again at the beach.
The afternoon was spent picking up snacks, getting more coconut water (which Lisa had become addicted to), and then having a relaxing walk back to the marina for a shower and to meet the new sailors who were coming aboard that day.
Noah and Josh were from Los Angeles, where Noah was a film producer for Warner brothers, and Josh was a sports promoter. Though they were a couple of years apart, they looked so similar that Lisa and I thought they were twins! Noah had worked on The Texas Chainsaw Massacre, among other films, and Josh had just come back from a long stint in Spain, where he became fluent with the language, had a Spanish girlfriend, and hoped to return there to start a restaurant chain.
Alena was from New York, where she worked as a commercial real estate manager for Cushman, Inc. Born in Belarus, she had won a green card lottery when she was 18, and worked her way up from the accounting department at her firm after a few promotions. She spoke English with a charming European accent. Unfortunately, American Airlines had lost her lugguage, so she was stuck with whatever she carried on with her on the plane.
We had drinks at the bar, and then returned to the Illusion for dinner. Our next two sailors would arrive from a later flight, but I was still under the weather from the cold, and so did not stay up to meet them.
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| From St. Vincent and the Grenadines |
The afternoon was spent picking up snacks, getting more coconut water (which Lisa had become addicted to), and then having a relaxing walk back to the marina for a shower and to meet the new sailors who were coming aboard that day.
Noah and Josh were from Los Angeles, where Noah was a film producer for Warner brothers, and Josh was a sports promoter. Though they were a couple of years apart, they looked so similar that Lisa and I thought they were twins! Noah had worked on The Texas Chainsaw Massacre, among other films, and Josh had just come back from a long stint in Spain, where he became fluent with the language, had a Spanish girlfriend, and hoped to return there to start a restaurant chain.
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| From St. Vincent and the Grenadines |
Alena was from New York, where she worked as a commercial real estate manager for Cushman, Inc. Born in Belarus, she had won a green card lottery when she was 18, and worked her way up from the accounting department at her firm after a few promotions. She spoke English with a charming European accent. Unfortunately, American Airlines had lost her lugguage, so she was stuck with whatever she carried on with her on the plane.
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| From St. Vincent and the Grenadines |
We had drinks at the bar, and then returned to the Illusion for dinner. Our next two sailors would arrive from a later flight, but I was still under the weather from the cold, and so did not stay up to meet them.
Thursday, December 17, 2009
Marigot Bay to Rodney Bay
Norman had threatened to get up at 7am to run the boat down to Rodney Bay this morning, since Zach had to be discharged as crew so he could leave us and go back home to New York. However, by the time I got out of bed at 8am, the boat was still not moving. It turned out that everyone else had gone ashore last night and had a roaring old time.
Since we were running short on time, breakfast was quick, and dishes were abandoned until we got to Rodney Bay. The furler on the genoa had broken the day before while sailing into Marigot bay, so we could not put up the genoa, but other than that, the sailing was uneventful, and once we got there, Zach was rushed ashore. Since we hadn't been to Pigeon Island yet, Lisa and I decided to pay a visit. Sarang wanted to go there with his snorkel gear, so he agreed to go with us.
Pigeon island, it turns out, is not really an island, but is a penninsula with a national park in it. As we got off the marina to start our walk there, it started raining, so the three of us chipped in for a Taxi, and got to there and ordered a Roti lunch. As is usual in the Caribbean, lunch took a long time, but by 2pm we were ready to snorkel. The snorkeling wasn't fantastic, there being not a lot of fishes in the area, and the ones that were there were small. Unfortunately, this would turn out to be the best snorkeling for the entire trip!
After the snorkel, Lisa and I walked up to the top of the park for some great views of Rodney Bay, and then we walked back to the marina along the beach, which surprisingly included a free ferry ride across a river between two resorts. It was fascinating for me to see the huge differences between the resorts and the public beaches: the resorts were lily-white, with lots of Europeans sunbathing, while the public beaches were entirely populated by local St. Lucia residents, who would swim, BBQ, or picnic, but not be terribly interested in sun-bathing. On the way back we saw a mango tree with some low hanging fruit, and I decided to pick one. Unfortunately, it wasn't ripe even by the end of our trip, so I have no idea how it would have tasted.
We returned to the Illusion after taking a shower at the marina to see that the genoa had been taken down. Norman had wanted to get someone to weld in a new ring to anchor the furling line, but Sarang convinced him that a better solution would be to just apply some steel bands to the broken part to strengthen it, since welding aluminum isn't terribly reliable.
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| From St. Vincent and the Grenadines |
Since we were running short on time, breakfast was quick, and dishes were abandoned until we got to Rodney Bay. The furler on the genoa had broken the day before while sailing into Marigot bay, so we could not put up the genoa, but other than that, the sailing was uneventful, and once we got there, Zach was rushed ashore. Since we hadn't been to Pigeon Island yet, Lisa and I decided to pay a visit. Sarang wanted to go there with his snorkel gear, so he agreed to go with us.
Pigeon island, it turns out, is not really an island, but is a penninsula with a national park in it. As we got off the marina to start our walk there, it started raining, so the three of us chipped in for a Taxi, and got to there and ordered a Roti lunch. As is usual in the Caribbean, lunch took a long time, but by 2pm we were ready to snorkel. The snorkeling wasn't fantastic, there being not a lot of fishes in the area, and the ones that were there were small. Unfortunately, this would turn out to be the best snorkeling for the entire trip!
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| From St. Vincent and the Grenadines |
After the snorkel, Lisa and I walked up to the top of the park for some great views of Rodney Bay, and then we walked back to the marina along the beach, which surprisingly included a free ferry ride across a river between two resorts. It was fascinating for me to see the huge differences between the resorts and the public beaches: the resorts were lily-white, with lots of Europeans sunbathing, while the public beaches were entirely populated by local St. Lucia residents, who would swim, BBQ, or picnic, but not be terribly interested in sun-bathing. On the way back we saw a mango tree with some low hanging fruit, and I decided to pick one. Unfortunately, it wasn't ripe even by the end of our trip, so I have no idea how it would have tasted.
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| From St. Vincent and the Grenadines |
We returned to the Illusion after taking a shower at the marina to see that the genoa had been taken down. Norman had wanted to get someone to weld in a new ring to anchor the furling line, but Sarang convinced him that a better solution would be to just apply some steel bands to the broken part to strengthen it, since welding aluminum isn't terribly reliable.
Wednesday, December 16, 2009
Rodney Bay to Marigot Bay
Breakfast on the Illusion is composed of Bran Flakes, powdered milk, fruit juice, fruit, and Wheetabix, an odd looking cereal that I had never seen before. Apparently, Norman and Allison found a good deal and bought up a life-time supply, as Wheetabix was the one item in the pantry the Illusion never ran out of.
After breakfast was done, we were introduced by Norman to the joys of washing dishes on the boat. Since the Illusion only carries about 200 gallons of water, all of which is to be used for drinking or washing hands, all dishes were to be washed with sea-water. This is something you can only get away with in the Caribbean, with its crystal clear water. Getting water out of the sea with a bucket is a bit non-intuitive: you have to tie the rope to your wrist, turn the bucket upside down, and then drop the bucket into the water so it would fill. Naively tossing the bucket into the water generally means that the bucket will land upright and net you no water.
We did the dishes, then headed ashore to buy some sandals for Lisa (who still couldn't get used to her Vibram Five Fingers), some cough drops for my cough, and snacks. We also found a coconut stand where Lisa filled her water bottle up with coconut water for 2EC. Upon our return, Zach as first mate showed us how to set up the boat for sailing to Marigot Bay. "It doesn't matter how I do it," he said, "Norman's not going to be happy with me anyway." As a schooner (a sailboat with 2 masts of identical height), the Illusion has 3 sails: the genoa (large foresail), the stay sail (middle sail), and main sail (back sail). However, it was also set up with an awning, which Norman intended to have stay up for this sail, so we could ignore the stay sail.. The genoa sheets had to run outside 3 of the shrouds, inboard through a block, and then the side where the sail was going to be on had to be run through the winch. The furling line from the forward furler (which furled and unfurled the genoa) had to be run all the way back to the main deck. The main sail had to be untied to get ready for unfurling. Then, a bucket of water and a boat hook had to be moved to the anchor to get ready for weighing anchor.
We weighed anchor at 1pm, and I was made the helms person. The cockpit of the schooner had a large wheel, and a seat in front of it. I soon learned, however, that one did not sit on the seat, as you couldn't see the forward of the boat otherwise. Instead, one stood on the seat, sticking his head through the hatch much like a tank commander would, and steered with his feet on the wheel. It was definitely a very different experience than the much smaller boats I had sailed with.
The skiff was moved from the side of the boat to dangling off the aft transom, and we were off. I discovered, however, that the Illusion was not a fast sail boat, despite its complement of sails. Norman kept the engine on for the entire duration of the sail. It was quite disappointing that most of our "sailing" would really be "motor-sailing."
Upon arrival at Marigot bay, we dropped anchor and were run ashore on the skiff. It was warm and beautiful, but the swimming and snorkeling was not very good: there was nothing to see, and the water was a bit churned up from the surge. After the swim, we took a shower at the resort, ate some fruits we bought from the store, and then went back to the Illusion for dinner.
I was still tired from my cold, so Lisa & I elected to stay ashore while the others went back on land to buy drinks.
After breakfast was done, we were introduced by Norman to the joys of washing dishes on the boat. Since the Illusion only carries about 200 gallons of water, all of which is to be used for drinking or washing hands, all dishes were to be washed with sea-water. This is something you can only get away with in the Caribbean, with its crystal clear water. Getting water out of the sea with a bucket is a bit non-intuitive: you have to tie the rope to your wrist, turn the bucket upside down, and then drop the bucket into the water so it would fill. Naively tossing the bucket into the water generally means that the bucket will land upright and net you no water.
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| From St. Vincent and the Grenadines |
We did the dishes, then headed ashore to buy some sandals for Lisa (who still couldn't get used to her Vibram Five Fingers), some cough drops for my cough, and snacks. We also found a coconut stand where Lisa filled her water bottle up with coconut water for 2EC. Upon our return, Zach as first mate showed us how to set up the boat for sailing to Marigot Bay. "It doesn't matter how I do it," he said, "Norman's not going to be happy with me anyway." As a schooner (a sailboat with 2 masts of identical height), the Illusion has 3 sails: the genoa (large foresail), the stay sail (middle sail), and main sail (back sail). However, it was also set up with an awning, which Norman intended to have stay up for this sail, so we could ignore the stay sail.. The genoa sheets had to run outside 3 of the shrouds, inboard through a block, and then the side where the sail was going to be on had to be run through the winch. The furling line from the forward furler (which furled and unfurled the genoa) had to be run all the way back to the main deck. The main sail had to be untied to get ready for unfurling. Then, a bucket of water and a boat hook had to be moved to the anchor to get ready for weighing anchor.
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| From St. Vincent and the Grenadines |
We weighed anchor at 1pm, and I was made the helms person. The cockpit of the schooner had a large wheel, and a seat in front of it. I soon learned, however, that one did not sit on the seat, as you couldn't see the forward of the boat otherwise. Instead, one stood on the seat, sticking his head through the hatch much like a tank commander would, and steered with his feet on the wheel. It was definitely a very different experience than the much smaller boats I had sailed with.
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| From St. Vincent and the Grenadines |
The skiff was moved from the side of the boat to dangling off the aft transom, and we were off. I discovered, however, that the Illusion was not a fast sail boat, despite its complement of sails. Norman kept the engine on for the entire duration of the sail. It was quite disappointing that most of our "sailing" would really be "motor-sailing."
Upon arrival at Marigot bay, we dropped anchor and were run ashore on the skiff. It was warm and beautiful, but the swimming and snorkeling was not very good: there was nothing to see, and the water was a bit churned up from the surge. After the swim, we took a shower at the resort, ate some fruits we bought from the store, and then went back to the Illusion for dinner.
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| From St. Vincent and the Grenadines |
I was still tired from my cold, so Lisa & I elected to stay ashore while the others went back on land to buy drinks.
Tuesday, December 15, 2009
Prologue
Lisa and I flew from San Francisco to Miami, then to St. Lucia for a sailing trip in the Carribean islands. We originally had wanted to run a trip in the British Virgin Islands like we did several years ago, but could not drum up enough interest to run a catamaran there. When I read the New York Times article about the SV Illusion, I did a quick computation and realized that the cost of the trip was lower than if I were to charter a boat myself and sail it myself. So on the spur of the moment, I signed Lisa and I up with the Illusion from December 15th to January 2nd.
The flights were uneventful, and we were met at the St. Lucia airport by Peter, a taxi driver sent by the Illusion to pick us up from the airport and deliver us to Rodney Bay where the Illusion was anchored. The weather was a balmy 80 degrees and sunny, but despite the small size of St. Lucia, it took an incredibly long time to drive from the airport to Rodney Bay. Peter was quite garrulous, happy to explain the country and our ship-mates to be, Sarang, who had apparently already made a name for himself.
Upon arrival at Rodney Bay, our driver called Norman and Allison, and we were asked to wait at the H20 bar. There, we ran into Sarang and Zach, who were already on the crew. Zach was near the end of his stay, but Sarang had a few more days with us yet. A little later, Norman and Allison showed up and took us out to a local bar for a drink. Then there was a debate as to whether we would eat on the boat or eat out. Since the crew wanted to eat out, we obliged, but first made a detour to the Illusion to drop off our lugguage.
Stepping onto the Illusion for the first time, I could see that this was truly a working boat: the deck looked well worn, despite being made out of metal, and the interior cabins were tiny, even smaller than the Rya Jen, which I had sailed two years ago. As a treasure hunting boat, the Illusion had hot-bunked a crew of 20, which included divers to dig up treasure from the Atocha off the coast of Florida.
We got ourselves squared away, and headed out to dinner, docking the skiff at the Happy Day bar. Dinner was at a local grill, which served reasonably good food, but did not have prices that kept Norman happy—he had shown up a year ago during their opening sale, and apparently prices were much better. At dinner, Sarang demonstrated himself to be a hard drinking, chain smoking, kleptomaniac professor, by not only ordering drinks and smoking, but also trying to talk us into bringing some extra silverware back to the boat. After dinner, Lisa and I were so tired that we went to the lounge and dozed off, and were awakened to return to the boat after everyone else was done with a round of drinks.
On the way back to the Illusion, however, the skiff ran over some fishing line left by some fisherman, and the propellor ground to a halt. Norman, while trying to unwrap the line, fell into the water, and had to climb back up to the skiff before finally un-fouling the propeller. Fortunately the water was warm and the moon was bright. I had caught a bit of a bug on the plane flights, and upon reaching the Illusion, fell asleep quickly.
The flights were uneventful, and we were met at the St. Lucia airport by Peter, a taxi driver sent by the Illusion to pick us up from the airport and deliver us to Rodney Bay where the Illusion was anchored. The weather was a balmy 80 degrees and sunny, but despite the small size of St. Lucia, it took an incredibly long time to drive from the airport to Rodney Bay. Peter was quite garrulous, happy to explain the country and our ship-mates to be, Sarang, who had apparently already made a name for himself.
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| From St. Vincent and the Grenadines |
Upon arrival at Rodney Bay, our driver called Norman and Allison, and we were asked to wait at the H20 bar. There, we ran into Sarang and Zach, who were already on the crew. Zach was near the end of his stay, but Sarang had a few more days with us yet. A little later, Norman and Allison showed up and took us out to a local bar for a drink. Then there was a debate as to whether we would eat on the boat or eat out. Since the crew wanted to eat out, we obliged, but first made a detour to the Illusion to drop off our lugguage.
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| From St. Vincent and the Grenadines |
Stepping onto the Illusion for the first time, I could see that this was truly a working boat: the deck looked well worn, despite being made out of metal, and the interior cabins were tiny, even smaller than the Rya Jen, which I had sailed two years ago. As a treasure hunting boat, the Illusion had hot-bunked a crew of 20, which included divers to dig up treasure from the Atocha off the coast of Florida.
We got ourselves squared away, and headed out to dinner, docking the skiff at the Happy Day bar. Dinner was at a local grill, which served reasonably good food, but did not have prices that kept Norman happy—he had shown up a year ago during their opening sale, and apparently prices were much better. At dinner, Sarang demonstrated himself to be a hard drinking, chain smoking, kleptomaniac professor, by not only ordering drinks and smoking, but also trying to talk us into bringing some extra silverware back to the boat. After dinner, Lisa and I were so tired that we went to the lounge and dozed off, and were awakened to return to the boat after everyone else was done with a round of drinks.
On the way back to the Illusion, however, the skiff ran over some fishing line left by some fisherman, and the propellor ground to a halt. Norman, while trying to unwrap the line, fell into the water, and had to climb back up to the skiff before finally un-fouling the propeller. Fortunately the water was warm and the moon was bright. I had caught a bit of a bug on the plane flights, and upon reaching the Illusion, fell asleep quickly.
Saturday, December 12, 2009
2009 Books of the Year
I'm 2 days away from going on vacation, and don't expect to get much reading done, if only because the PS3 is turning out to be quite addictive. So I'm going to take the time now to call out what I consider to be the books of the year.
As usual, even though I read far less non-fiction than fiction, the leading titles I can think of this year fall into the Non-fiction category. Two obvious leaders spring to mind: FDR and Connected. Of the two, I think FDR has to get the nod. That's because while most intelligent, connected people use social networks of one sort of another, very few otherwise intelligent people I know have actually gone back and studied the history of how today's American society was built, and how one man almost single-handedly built up many of today's institutions (Social Security, the Securities Exchange Commission, etc) that Republicans are still trying to tear down (and have no real success dismantling). I think it behooves us to understand history, not just because it has a tendency to repeat itself (or rhyme, as others say), but to realize how different the world would have been if FDR had not existed. If you consider yourself a serious thinker (or are even vaguely interested in how institutions such as Social Security get built), I think you owe it to yourself to read this book. Even worse, some even believe the right-wing propaganda about how FDR caused the great depression, or how he knew about the attack on Pearl Harbor and kept quiet about it. Honorable mentions go to: The Promise of Sleep, Your Money & Your Brain, and the previously mentioned Connected.
As usual, even though I read far less non-fiction than fiction, the leading titles I can think of this year fall into the Non-fiction category. Two obvious leaders spring to mind: FDR and Connected. Of the two, I think FDR has to get the nod. That's because while most intelligent, connected people use social networks of one sort of another, very few otherwise intelligent people I know have actually gone back and studied the history of how today's American society was built, and how one man almost single-handedly built up many of today's institutions (Social Security, the Securities Exchange Commission, etc) that Republicans are still trying to tear down (and have no real success dismantling). I think it behooves us to understand history, not just because it has a tendency to repeat itself (or rhyme, as others say), but to realize how different the world would have been if FDR had not existed. If you consider yourself a serious thinker (or are even vaguely interested in how institutions such as Social Security get built), I think you owe it to yourself to read this book. Even worse, some even believe the right-wing propaganda about how FDR caused the great depression, or how he knew about the attack on Pearl Harbor and kept quiet about it. Honorable mentions go to: The Promise of Sleep, Your Money & Your Brain, and the previously mentioned Connected.
Update: I recently read Hyman P. Minsky's Stabilizing an Unstable Economy, and now I consider it the book of the year for 2009, no question. Very much worth reading!
On the fiction side, this has certainly been the year of Alastair Reynolds for me, just as last year was the year of Richard K. Morgan. Of the lot, House of Suns really stands out, but the Revelation Space series is also definitely worth reading. Honorable mention goes to Stross' Wireless, where the novella Palimpsest by itself is worth the price of the entire book.
I didn't read many comics this year, but once again, I want to point everyone to Bill Willingham's Fables. It's still the best running comic book series that exists, has no men (or women) in tights, and as far as I can tell, Willingham has never run out of good ideas.
Unlike last year's mammoth 95 book record, this year, I only read 57 books. Of course, the year's not over yet, and maybe I'll stumble onto something so amazing that it'll kick one of the above books out of ranking by the end of the year, but I don't think anyone will come away from reading any of the above books feeling disappointed.
On the fiction side, this has certainly been the year of Alastair Reynolds for me, just as last year was the year of Richard K. Morgan. Of the lot, House of Suns really stands out, but the Revelation Space series is also definitely worth reading. Honorable mention goes to Stross' Wireless, where the novella Palimpsest by itself is worth the price of the entire book.
I didn't read many comics this year, but once again, I want to point everyone to Bill Willingham's Fables. It's still the best running comic book series that exists, has no men (or women) in tights, and as far as I can tell, Willingham has never run out of good ideas.
Unlike last year's mammoth 95 book record, this year, I only read 57 books. Of course, the year's not over yet, and maybe I'll stumble onto something so amazing that it'll kick one of the above books out of ranking by the end of the year, but I don't think anyone will come away from reading any of the above books feeling disappointed.
Review: Better
Better had a promising start: it starts of by discussing the causes of infection in hospitals, and the history of attempts to control it. All the industrial engineering in the world, for instance, didn't seem to solve the problem, but it turned out that if you got everyone in the hospital involved, and they felt like they were being heard, you could actually improve the situation dramatically.
3 chapters later, in the middle of a section on doctors in the prison system, I realized that this book did not have a coherent theme: it was basically a collection of essays by the author previously published in The New Yorker or elsewhere, which explained the lack of coherence. While it's all very exciting to hear about such disparate places in the world where medicine in practice, there's no central idea tying it together. The result: by the time I finished the book, I felt as though I had tried to eat dinner by ordering 12 appetizers. Each one tasted fine, but the whole experience left me feeling vaguely unsatisfied.
Check it out from your library instead of buying it, even at Kindle price.
3 chapters later, in the middle of a section on doctors in the prison system, I realized that this book did not have a coherent theme: it was basically a collection of essays by the author previously published in The New Yorker or elsewhere, which explained the lack of coherence. While it's all very exciting to hear about such disparate places in the world where medicine in practice, there's no central idea tying it together. The result: by the time I finished the book, I felt as though I had tried to eat dinner by ordering 12 appetizers. Each one tasted fine, but the whole experience left me feeling vaguely unsatisfied.
Check it out from your library instead of buying it, even at Kindle price.
Thursday, December 10, 2009
Review: Connected
When Google rolled out the Orkut social network, a bunch of us scratched our heads and wondered what the heck we would ever use it for. Now in 2009, social networks from Facebook to Twitter have become big news, even if nobody knows how profitable they are, and it's become far more important to understand the way social networks operate than ever.
Connected is a book about human networks. Ruchira Datta first pointed me at it through the New York Times article about how friends can cause each other to gain (or lose) weight, even across a thousand miles. If you think about it, this is a very surprising result, because it's not like you're going to see your friends that far away frequently enough to copy their weight gain or loss.
Each chapter of this book presents at least one such interesting revelation. The one that really surprised me was the well-known fact that married men live about 5 years longer than single men, but married women live only about 2 years longer. The book answers how the mechanism works, and why it is that women seem to benefit less than men from marriage. The answer turns out to be very surprising and relevant to traditional views about marriage. Then there's a romp through human organizations, Dunbar's number, and a presentation of the "3 levels of indirection" influence rule.
The subsequent chapters concern themselves with epidemics, politics, wealth, and the internet, and the future of our connected lives. Of all the topics, the ones on wealth and epidemics are the most enlightening, and the one on politics least surprising, while the chapter on the internet space the weakest, since this space is still very much in its infancy, though the value provided there is immense.
The writing is clear, the topics selected fascinating, and I found the entire book really enjoyable. Highly recommended, at the $9.99 Kindle price, or even at the full hardback price. Yes it is that good. I won't be surprised if I ended up nominating this book for the book of the year.
Connected is a book about human networks. Ruchira Datta first pointed me at it through the New York Times article about how friends can cause each other to gain (or lose) weight, even across a thousand miles. If you think about it, this is a very surprising result, because it's not like you're going to see your friends that far away frequently enough to copy their weight gain or loss.
Each chapter of this book presents at least one such interesting revelation. The one that really surprised me was the well-known fact that married men live about 5 years longer than single men, but married women live only about 2 years longer. The book answers how the mechanism works, and why it is that women seem to benefit less than men from marriage. The answer turns out to be very surprising and relevant to traditional views about marriage. Then there's a romp through human organizations, Dunbar's number, and a presentation of the "3 levels of indirection" influence rule.
The subsequent chapters concern themselves with epidemics, politics, wealth, and the internet, and the future of our connected lives. Of all the topics, the ones on wealth and epidemics are the most enlightening, and the one on politics least surprising, while the chapter on the internet space the weakest, since this space is still very much in its infancy, though the value provided there is immense.
The writing is clear, the topics selected fascinating, and I found the entire book really enjoyable. Highly recommended, at the $9.99 Kindle price, or even at the full hardback price. Yes it is that good. I won't be surprised if I ended up nominating this book for the book of the year.
Tuesday, December 08, 2009
Review: PlayStation 3 + Accessories
So I succumbed to Amazon's Black Friday sale and bought a Sony Playstation 3 with 2 games for $290. The way things work out, this meant upgrading the TV as well, and my mom's company was blowing out LG's 42LH300C for $575, so I opted for one. This in turned drove the purchase of a HDMI cable and a Wii Component cable as well. This kind of spending cascades is why BestBuy and Amazon have such high revenues.
It took a bit of wiring to set up. The nice thing is that my system is now actually simpler, since the TV comes with its own digital tuner, so the old Tivax and CRT TV got sold. Unfortunately, the Wii component cable did not come in splittable form, so I had to plug the Wii into the TV and then route audio from the TV back into the receiver, resulting in my audio latency being much worse than my visual latency (35ms versus 22ms). Unfortunately, despite the component cables, the Wii doesn't look all that great!
The Playstation 3, however, is a different story. Watching Veronica Mars on DVD looked great, since the PS3 upscales the visual. Plugging the PS3 into my receiver was a cinch as well, and to my relief, I could use both analog audio out and digital TV out (through HDMI), which enabled the sound to go directly into my amp. It sounds as good as you might expect. Stick in a Blu-Ray disc, and the picture quality is nothing short of amazing. It's not quite 70mm quality, but seriously, when was the last time you saw 70mm film projected in a movie theater?
But that's only the tip of the ice-berg. You can rent HD videos for $4.99 on the PS3 (it's hooked up to the internet, either through a wired connection or over Wi-Fi), and even better, I had a PlayOn license for $10 from a Halloween special that enabled me to stream YouTube, Hulu, and any other media sitting on my PC's hard drive to the TV. I guess I will never have to pay for cable TV again. Apparently, you can stream Netflix movies to the PS3 as well, but I'm too cheap to pay for Netflix too, so I'll probably wait until I get a free trial to play with it.
And then there's games. The Black Friday special included inFamous, which is so far quite interesting. I have to set it to easy so I can actually play it --- yes, I'm a lame gamer --- but I've known that ever since John Carmack gave me every weapon in Quake and came after me with an axe and axe-murdered me. When my Dad first heard my system through the PS3 he thought the simulated earthquake on the PS3 was real! The bundle also included Killzone 2, which seems like a game too hard for an oldster like me. Valkryia Chronicles is more my speed. Roberto loaned me a few games (and blu-ray movies) and I'll check them out as well.
The PS3 even supports my bluetooth headset, though I haven't had the occasion to try it out yet in a group game. The one complaint I have is that both the Wii and the PS3 are blue-tooth devices, while the TV, receiver, and soundbridge are infra-red controlled devices. So now my universal remote isn't universal any more (now the PS3 controller has to sit next to it). This is hardly a deal killer, and there are solutions, but I'm done spending money for now.
Which makes me wonder: who the heck is buying the Apple TV? For $70 more, you get a fantastic game machine, a blu-ray player, an upscaling DVD player, and access to pretty much the same movies, plus Hulu and YouTube (for a $30 PlayOn license if you didn't get the $10 license that everyone else gets), and whatever other media you can download to your PC's hard drive. I guess Mac owners can't run PlayOn (though it does run on VMWare) and are made of money anyway.
It took a bit of wiring to set up. The nice thing is that my system is now actually simpler, since the TV comes with its own digital tuner, so the old Tivax and CRT TV got sold. Unfortunately, the Wii component cable did not come in splittable form, so I had to plug the Wii into the TV and then route audio from the TV back into the receiver, resulting in my audio latency being much worse than my visual latency (35ms versus 22ms). Unfortunately, despite the component cables, the Wii doesn't look all that great!
The Playstation 3, however, is a different story. Watching Veronica Mars on DVD looked great, since the PS3 upscales the visual. Plugging the PS3 into my receiver was a cinch as well, and to my relief, I could use both analog audio out and digital TV out (through HDMI), which enabled the sound to go directly into my amp. It sounds as good as you might expect. Stick in a Blu-Ray disc, and the picture quality is nothing short of amazing. It's not quite 70mm quality, but seriously, when was the last time you saw 70mm film projected in a movie theater?
But that's only the tip of the ice-berg. You can rent HD videos for $4.99 on the PS3 (it's hooked up to the internet, either through a wired connection or over Wi-Fi), and even better, I had a PlayOn license for $10 from a Halloween special that enabled me to stream YouTube, Hulu, and any other media sitting on my PC's hard drive to the TV. I guess I will never have to pay for cable TV again. Apparently, you can stream Netflix movies to the PS3 as well, but I'm too cheap to pay for Netflix too, so I'll probably wait until I get a free trial to play with it.
And then there's games. The Black Friday special included inFamous, which is so far quite interesting. I have to set it to easy so I can actually play it --- yes, I'm a lame gamer --- but I've known that ever since John Carmack gave me every weapon in Quake and came after me with an axe and axe-murdered me. When my Dad first heard my system through the PS3 he thought the simulated earthquake on the PS3 was real! The bundle also included Killzone 2, which seems like a game too hard for an oldster like me. Valkryia Chronicles is more my speed. Roberto loaned me a few games (and blu-ray movies) and I'll check them out as well.
The PS3 even supports my bluetooth headset, though I haven't had the occasion to try it out yet in a group game. The one complaint I have is that both the Wii and the PS3 are blue-tooth devices, while the TV, receiver, and soundbridge are infra-red controlled devices. So now my universal remote isn't universal any more (now the PS3 controller has to sit next to it). This is hardly a deal killer, and there are solutions, but I'm done spending money for now.
Which makes me wonder: who the heck is buying the Apple TV? For $70 more, you get a fantastic game machine, a blu-ray player, an upscaling DVD player, and access to pretty much the same movies, plus Hulu and YouTube (for a $30 PlayOn license if you didn't get the $10 license that everyone else gets), and whatever other media you can download to your PC's hard drive. I guess Mac owners can't run PlayOn (though it does run on VMWare) and are made of money anyway.
Sunday, December 06, 2009
Review: How The Mighty Fall
Recently, someone asked the question of a general mailing list, "How do you know when a company is failing, or on the verge of failing?" At that time, there were several interesting answers, but none of them really satisfying, since no one really had any data to back it up. How the Mighty Fall, written by Jim Collins of Built to Last fame, takes on that question, and to a certain degree of success.
The thesis of the book is that explanations such as "failure to innovate" are rarely the case. In fact, on the contrary, most of the companies who failed innovated at a rapid and ferocious pace. They brought in change leaders from the outside, a frenetically introduced new products, new innovations, and reorganized themselves at a ferocious pace. What that served to do instead of rescuing them from failure was to plunge them into a death spiral from which they could not recover. By contrast, the companies that did succeed in pulling out of death spirals hired CEOs from within, focused on core values while iterating on success, and took big bets only after ideas had first proven themselves in the marketplace.
The first part of the book focused on the process of failure. The first phase is hubris, led by an aura of invincibility and a feeling that "we could do no wrong." At this point, pride overcomes any humility that might have been in place. It is very telling at this point that at this point the role of luck in past success is completely dismissed, and all past success is attributed to skill.
This is followed by over-reach, either through acquisition, entering a new market where there was no reason to believe the company could succeed or compete effectively, and undisciplined growth through hiring too quickly. The key here is that the wrong people are put in key positions, and there is no plan to fix this problem. What this means is that added bureaucracy is required to manage having wrong people all over the place, and that causes good people to leave.
At the height of apparent success, there is then denial of risk: those in power become surrounded by people afraid to tell them the truth or criticize them. Leaders make statements instead of asking questions, and politics take on a life of its own --- what's good for the individual becomes the most important metric, rather than what's good for the company as a whole. (Someone once told me that my biggest failure in managing my career was never asking, "What's in it for me?")
In the stage four of failure, companies grasp at straws for a silver bullet: CEOs from outside, hoping for discontinuous leaps into new technologies and new markets, and one series after another of desperate moves bring the company further and further to the brink. It is very telling that the counter examples do precisely the opposite: they tend to hire CEOs from inside, immediately make changes that ensure survival rather than investing in big acquisitions and new technologies, and refocus the company on the strengths.
In the final stage, the company enters a death spiral as reduction in cash reduces options until the company fails. At this point, the chance for renewal is rare, but it can be done if a sufficiently persistent, humble leader is found to lead.
Overall, the book is great, full of case studies for every stage of the process, and counter examples. What it is lacking is that the first 2 or 3 stages seem particularly tough to distinguish between a company in full steam ahead mode, and a company that's really starting to get too arrogant for its own good. I would definitely have liked Collins to go out on a limb and name a few companies that are in stage 1 and 2 to see what he really means. I would also really like more counter examples, as to how companies can recover and avoid the kind of Hubris he talks about. The reality seems to be the picking the right people to be in the right position from the CEO down. But there's no framework for how to do this, and I consider it an impossible to solve problem --- I'd like to have a few interview questions that bring out whether or not a leader has humility deep in his bones, or whether he's faking it, but I just can't think of a way to do so.
Regardless, this book is highly recommended, and I think that every executive or investor should have a copy in his library to remind himself of how great things look before a big fall.
The thesis of the book is that explanations such as "failure to innovate" are rarely the case. In fact, on the contrary, most of the companies who failed innovated at a rapid and ferocious pace. They brought in change leaders from the outside, a frenetically introduced new products, new innovations, and reorganized themselves at a ferocious pace. What that served to do instead of rescuing them from failure was to plunge them into a death spiral from which they could not recover. By contrast, the companies that did succeed in pulling out of death spirals hired CEOs from within, focused on core values while iterating on success, and took big bets only after ideas had first proven themselves in the marketplace.
The first part of the book focused on the process of failure. The first phase is hubris, led by an aura of invincibility and a feeling that "we could do no wrong." At this point, pride overcomes any humility that might have been in place. It is very telling at this point that at this point the role of luck in past success is completely dismissed, and all past success is attributed to skill.
This is followed by over-reach, either through acquisition, entering a new market where there was no reason to believe the company could succeed or compete effectively, and undisciplined growth through hiring too quickly. The key here is that the wrong people are put in key positions, and there is no plan to fix this problem. What this means is that added bureaucracy is required to manage having wrong people all over the place, and that causes good people to leave.
At the height of apparent success, there is then denial of risk: those in power become surrounded by people afraid to tell them the truth or criticize them. Leaders make statements instead of asking questions, and politics take on a life of its own --- what's good for the individual becomes the most important metric, rather than what's good for the company as a whole. (Someone once told me that my biggest failure in managing my career was never asking, "What's in it for me?")
In the stage four of failure, companies grasp at straws for a silver bullet: CEOs from outside, hoping for discontinuous leaps into new technologies and new markets, and one series after another of desperate moves bring the company further and further to the brink. It is very telling that the counter examples do precisely the opposite: they tend to hire CEOs from inside, immediately make changes that ensure survival rather than investing in big acquisitions and new technologies, and refocus the company on the strengths.
In the final stage, the company enters a death spiral as reduction in cash reduces options until the company fails. At this point, the chance for renewal is rare, but it can be done if a sufficiently persistent, humble leader is found to lead.
Overall, the book is great, full of case studies for every stage of the process, and counter examples. What it is lacking is that the first 2 or 3 stages seem particularly tough to distinguish between a company in full steam ahead mode, and a company that's really starting to get too arrogant for its own good. I would definitely have liked Collins to go out on a limb and name a few companies that are in stage 1 and 2 to see what he really means. I would also really like more counter examples, as to how companies can recover and avoid the kind of Hubris he talks about. The reality seems to be the picking the right people to be in the right position from the CEO down. But there's no framework for how to do this, and I consider it an impossible to solve problem --- I'd like to have a few interview questions that bring out whether or not a leader has humility deep in his bones, or whether he's faking it, but I just can't think of a way to do so.
Regardless, this book is highly recommended, and I think that every executive or investor should have a copy in his library to remind himself of how great things look before a big fall.
End of Year Financial Advice
I'm reminded that it's the end of the year by the number of financial planning questions I get. Despite having written on the topic many times, I'm having to dig up old articles for the sake of my friends who aren't subscribed to my blog (tsk tsk).
Q: What is Tax Loss Harvesting?
Previous post on tax-loss harvesting One thing to note is that if you own one of Vanguard's funds, tax-loss harvesting is an all or nothing affair, because Vanguard only tracks your shares on an average basis. This is a good reason to switch to Vanguard's VIPER ETFs. Unfortunately, not all Vanguard funds have an equivalent VIPER, and vice-versa. The most notable one is the Vanguard Energy Fund, where the ETF and the fund are not related.
Q: I'm a Fidelity user, and I've noticed that the Vanguard funds are actually more expensive than the Fidelity equivalents. Why do people have such brand loyalty to Vanguard?
It turns out that index management is not at all easy or obvious. There have been several articles and analyses on Vanguard funds. For instance, William Bernstein has written about transactional skill on the part of Gus Sauter, the positive tracking error that Vanguard funds frequently exhibit, and how Vanguard funds frequently outperform what ought to be equivalent ETFs. No equivalent analysis of Fidelity funds have been made. There is also some evidence that transactional skill is persistent, unlike skill in say, picking stocks.
Q: I noticed that you bought a house recently. How does that relate to your portfolio, and are there any books equivalent to Random Walk Down Wall Street for real estate investing?
I view my purchase of a house as a consumption decision, not an investment decision. In other words, I don't expect my house to appreciate any more than my big screen TV (though perhaps it wouldn't depreciate like one), and moving into a house actually cost me money.
I did look into real estate investing several years ago, and it sounded like a massive hassle. However, it is possible to make money at it, and there are several people who do. (There are just as many people who don't) If you wish to hear the truth about real-estate investing, the no-nonsense guides by John T. Reed are the ones I recommend. You might decide (as I did) that this stuff is not for you, but at least you won't be suckered into thinking that real estate is a "get rich quick" scheme, unlike many others.
As far as valuing an individual house is concerned, I like to tell folks that as long time renters, they are expert at rentals. So estimate how much you would pay in rent to live in a particular house, and divide the purchase price by the annual price of renting that house. In the US, the long term price/rent ratio calculated this way is around 19. For the Bay Area, it's around 21. In 2007, the average price/rent ratio in the area was an astounding 50. At that price, it definitely made more sense to rent. Now, you can easily get 21, or even 19. There's good reason to believe that prices will decline further (remember, the average means that there are times when prices are far below average), so keep those ratios in mind when making your buy/rent decision.
Q: What is Tax Loss Harvesting?
Previous post on tax-loss harvesting One thing to note is that if you own one of Vanguard's funds, tax-loss harvesting is an all or nothing affair, because Vanguard only tracks your shares on an average basis. This is a good reason to switch to Vanguard's VIPER ETFs. Unfortunately, not all Vanguard funds have an equivalent VIPER, and vice-versa. The most notable one is the Vanguard Energy Fund, where the ETF and the fund are not related.
Q: I'm a Fidelity user, and I've noticed that the Vanguard funds are actually more expensive than the Fidelity equivalents. Why do people have such brand loyalty to Vanguard?
It turns out that index management is not at all easy or obvious. There have been several articles and analyses on Vanguard funds. For instance, William Bernstein has written about transactional skill on the part of Gus Sauter, the positive tracking error that Vanguard funds frequently exhibit, and how Vanguard funds frequently outperform what ought to be equivalent ETFs. No equivalent analysis of Fidelity funds have been made. There is also some evidence that transactional skill is persistent, unlike skill in say, picking stocks.
Q: I noticed that you bought a house recently. How does that relate to your portfolio, and are there any books equivalent to Random Walk Down Wall Street for real estate investing?
I view my purchase of a house as a consumption decision, not an investment decision. In other words, I don't expect my house to appreciate any more than my big screen TV (though perhaps it wouldn't depreciate like one), and moving into a house actually cost me money.
I did look into real estate investing several years ago, and it sounded like a massive hassle. However, it is possible to make money at it, and there are several people who do. (There are just as many people who don't) If you wish to hear the truth about real-estate investing, the no-nonsense guides by John T. Reed are the ones I recommend. You might decide (as I did) that this stuff is not for you, but at least you won't be suckered into thinking that real estate is a "get rich quick" scheme, unlike many others.
As far as valuing an individual house is concerned, I like to tell folks that as long time renters, they are expert at rentals. So estimate how much you would pay in rent to live in a particular house, and divide the purchase price by the annual price of renting that house. In the US, the long term price/rent ratio calculated this way is around 19. For the Bay Area, it's around 21. In 2007, the average price/rent ratio in the area was an astounding 50. At that price, it definitely made more sense to rent. Now, you can easily get 21, or even 19. There's good reason to believe that prices will decline further (remember, the average means that there are times when prices are far below average), so keep those ratios in mind when making your buy/rent decision.
Thursday, December 03, 2009
Review: The Six Directions of Space
The Six Directions of Space is a novella, just over 80 pages long. I don't normally review short stories, but since Amazon has this selling at $75, or at almost $1/page, and I checked it out of the library for no charge, I feel obliged to talk about it.
The story revolves around an alternate history, a space faring empire in a timeline where the Mongols succeeded in taking over the world, and establishing itself as the premiere human civilization. They explore the universe through wormholes left behind by some ancient civilization. The story opens when Yellow Dog, and agent of the empire, is sent to investigate a far flung province. She enters deep cover, and uncovers a startling observation about the Infrastructure used to united the empire...
The story isn't long enough to really get more than a bare-bones plot and story line, and in many ways I feel like the setup was mostly performed as a misdirection. While it's a reasonably good story, it's not one of Reynolds' best. I would definitely not pay the $75 price.
The story revolves around an alternate history, a space faring empire in a timeline where the Mongols succeeded in taking over the world, and establishing itself as the premiere human civilization. They explore the universe through wormholes left behind by some ancient civilization. The story opens when Yellow Dog, and agent of the empire, is sent to investigate a far flung province. She enters deep cover, and uncovers a startling observation about the Infrastructure used to united the empire...
The story isn't long enough to really get more than a bare-bones plot and story line, and in many ways I feel like the setup was mostly performed as a misdirection. While it's a reasonably good story, it's not one of Reynolds' best. I would definitely not pay the $75 price.
Review: Your Money and Your Brain
Bernstein's latest book spends a bit of time talking about how the emotional aspect of investing is an important one, one that many smart people fall down on. In particular, he mentioned Jason Zweig's book, Your Money and Your Brain as being worthwhile reading on this topic.
The book starts off by discussing the difference between your visceral gut reactions and your thinking, reflective system. This comes into play during the current market turmoil, where many people, despite having had the "buy low" mantra drilled into them, were paralyzed by fear instead, or sold in a panic. Zweig then goes on to discuss various foibles of the human brain.
He starts off with our tendency to remember when we were correct, and forget when we are wrong. Even worse, studies show that we have a tendency to revise our past predictions in retrospect, so our understanding of our own accuracy is suspect. He then goes on to describe how everyone lives in a world where he's better looking, and above average in intelligence. Furthermore, nearly everyone thinks he has a larger amount of risk tolerance than he says he has. He then discusses anchoring and framing, two common short cuts that people use to make decisions---including investment decisions, where they can be particularly dangerous.
This is followed up by chapters on Fear, Surprise, Regret, and finally, Happiness, where the common discussions of happiness are touted (e.g., having a bad commute is one of the worst thing you can do for your peace of mind, and the hedonistic treadmill keeps you from achieving happiness through buying more stuff). None of these will come as a surprise to anyone who's done any reading in recent years, but it's all packaged up very nicely and clearly for an investment audience. What's particularly good are the suggestions on what you can do to overcome your brain's natural tendency to do the wrong thing as far as investing is concerned. (One particularly striking section of the book interviews money managers who have trained themselves to buy whenever they feel like throwing up because of stock market gyrations)
Recommended.
The book starts off by discussing the difference between your visceral gut reactions and your thinking, reflective system. This comes into play during the current market turmoil, where many people, despite having had the "buy low" mantra drilled into them, were paralyzed by fear instead, or sold in a panic. Zweig then goes on to discuss various foibles of the human brain.
He starts off with our tendency to remember when we were correct, and forget when we are wrong. Even worse, studies show that we have a tendency to revise our past predictions in retrospect, so our understanding of our own accuracy is suspect. He then goes on to describe how everyone lives in a world where he's better looking, and above average in intelligence. Furthermore, nearly everyone thinks he has a larger amount of risk tolerance than he says he has. He then discusses anchoring and framing, two common short cuts that people use to make decisions---including investment decisions, where they can be particularly dangerous.
This is followed up by chapters on Fear, Surprise, Regret, and finally, Happiness, where the common discussions of happiness are touted (e.g., having a bad commute is one of the worst thing you can do for your peace of mind, and the hedonistic treadmill keeps you from achieving happiness through buying more stuff). None of these will come as a surprise to anyone who's done any reading in recent years, but it's all packaged up very nicely and clearly for an investment audience. What's particularly good are the suggestions on what you can do to overcome your brain's natural tendency to do the wrong thing as far as investing is concerned. (One particularly striking section of the book interviews money managers who have trained themselves to buy whenever they feel like throwing up because of stock market gyrations)
Recommended.
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