Valuation is Expectation and Expectation is Imagination?? Accountants: accounting for the unaccountable...

Accountants spend their lives placing values on both tangible and intangible assets, accounting precisely for every change in value, and that somehow value comes and goes with an explanation.

But, Shackle argues,

“The idea of an economic valutum arising ex nihilio or vanishing inexplicably is contrary to the whole meaning of the accountant’s operation.” (Shackle pg.8)

Supposedly according to accounting, values are produced by tangible industrial processes: adding materials, storing, dividing. Value can be lost by aging and consumption. BUT, isn’t value something mythological/”an act of the mind” as he puts it?

People in a certain market for a certain product agree on the value of an item as to its expected future potential. He argues, valuation is expectation; (Just as in finance, the value of stocks and bonds are equal to their expected future cash flows) which can change from moment to moment depending on circumstances. “VALUATION IS EXPECTATION and EXPECTATION IS IMAGINATION” (Shackle) which means that accountants are accounting for the unaccountable.

G. L. S. Shackle, author of Epistemics and Economics: A Critique of Economic Doctrines

Libros Pendientes

Quiero mantener una lista de libros, lo voy a hacer aqui para no perderlo.

Brandeis, Louis D. Other People's Money and How the Bankers Use It, Augustus M. Kelley Publishers, Reprints of Economic Classics. New York, 1971.

Brealey, Richard, Stuart C. Myers, and Franklin Allen. Principles of Corporate Finance, 8th edition. McGraw-Hill/Irwin, 2005.

Douglas, William O. Democracy and Finance. New Haven: Yale University Press, 1940.

Fabozzi, Frank J., Franco Modigliani, Frank J. Jones, and Michael G. Ferri. Foundations of Financial Markets and Institutions, 4th ed. Boston, Massachusetts: Prentice Hall, 2010.

Hawtrey, R. G. The Art of Central Banking. London: Longmans, Green and Co., 1932.

O'Barr, William M. and John M. Conley. Fortune & Folly: The Wealth & Power of Institutional Investing. Homewood, Illinois: Business-One Irwin, 1992.

Shiller, Robert J. Irrational Exuberance, 2nd edition. New York: Doubleday, 2006.

--- The New Financial Order: Risk in the 21st Century. Princeton: Princeton University Press, 2003.

Siegel, Jeremy J. Stocks for the Long Run, 4th edition, New York: McGraw-Hill, 2008.

Sullivan, Teresa, Elizabeth Warren and Jay Lawrence Westbrook. The Fragile Middle Class: Americans in Debt. New Haven: Yale University Press, 2000.

Swensen, David. Pioneering Portfolio Management. New York: Free Press, 2000.

Unger, Peter. Living High and Letting Die: Our Illusion of Innocence. New York: Oxford University Press, 1996.

50 Peliculas que todos deberian ver

Esto sale del blog de Guillermo Dìaz,
Y aquí lo apunto para ver los pelis...

1. TESTIGO DE CARGO.
2. LAWRENCE DE ARABIA.
3. BLADE RUNNER.
4. UNO DE LOS NUESTROS.
5. EL PADRINO II.
6. MURIERON CON LAS BOTAS PUESTAS.
7. HASTA QUE LLEGÓ SU HORA.
8. SIN PERDÓN.
9. EL IMPERIO CONTRAATACA.
10. EVA AL DESNUDO.
11. EL CABALLERO OSCURO.
12. LA COMUNIDAD DEL ANILLO.
13. EL SEPTIMO SELLO.
14. ALIEN.
15. SENDEROS DE GLORIA.
16. TERMINATOR.
17. LOS DUELISTAS.
19. VENCEDORES O VENCIDOS.
20. AL FINAL DE LA ESCALERA.
21. EL GUATEQUE.
22. UN HOMBRE LOBO AMERICANO EN LONDRES.
23. APOCALIPSE NOW.
24. ED WOOD.
25. LA NOVIA DE FRANKENSTEIN.
26. BIG FISH.
27. HEAT.
28. CHACAL.
29. EL BUEN PASTOR.
30. ACORRALADO.
31. PAPILLON.
32. EL HOMBRE DE ALCATRAZ.
33. UNO ROJO DIVISÓN DE CHOQUE. (The Big Red One) 1980
34. ROBIN DE LOS BOSQUES.
35. BEN HUR.
36. FRANKENSTEIN.
37. UN, DOS, TRES.
38. EL CREPUSCULO DE LOS DIOSES.
39. LA TENTACIÓN VIVE ARRIBA.
40. ENCADENADOS.
41. LA SOGA.
42. EL HUNDIMIENTO.
43. LA VIDA DE LOS OTROS.
44. PEQUEÑA MISS SUNSHINE.
45. JULIO CESAR.
46. LA GATA SOBRE EL TEJADO DEL ZINC.
47. LA FIERA DE MI NIÑA.
48. RAN.
49. DERZU USALA.
50. DARK CITY.



http://www.guillermodiaz.es/?page_id=253

Agora Teaser Trailer Amenabar 2009

Esto si es guay...

Me interesa hacer algun estudio mas concreto sobre la historia que cuando lo pienso hay que admitir que no lo tengo bien aprendido, a ver si me compro algún librito por ahí...

hace rato q no escribo, estoy muy ocupada y hay pocas novedades. :( cuidaros

kisses

John Keats

"In Poetry I have a few axioms, and you will see how far I am from their centre. I think Poetry should surprise by a fine excess and not by singularity — it should strike the reader as a wording of his own highest thoughts, and appear almost a remembrance — Its touches of Beauty should never be halfway thereby making the reader breathless instead of content: the rise, the progress, the setting of imagery should like the Sun come natural to him — shine over him and set soberly although in magnificence leaving him in the luxury of twilight — but it is easier to think what Poetry should be than to write it — and this leads me on to another axiom.

That if Poetry comes not as naturally as the leaves to a tree it had better not come at all.

"

• Letter to John Taylor (February 27, 1818)

John Keats
Nasció en 1795 en inglaterra, murió en 1821, roma. Uno de los principales poetas británicos de romanticismo.
Sus mejores poemas los escribe casi al final de su vida. Libros: Hyperion (1818). La estrella brillante (1819).Oda a un ruiseñor (1819). Oda a una tumba griega (1819). La caída de Hyperion: un sueño (1819)

Greg Mankiw

http://www.economics.harvard.edu/faculty/mankiw/files/My_Rules_of_Thumb.pdf

Greg Mankiw estudia la economia, y es profesor de economia en la universidad de Harvard. =) Siempre sigo su blog, y hoy lei sus reglas personales de la vida. Es bastante interesante, queria compartirlo...

Es un idolo mio, espero poder seguir sus consejos y aprovechar del tiempo en la universidad para aprender lo más posible, disfrutar de la vida y aprender de mis profesores mas estimados.

Un Saludo,
Cris