Dilbert On Mutual Funds

Nuff said.

Dogbert Knows Earnings Management.

The second one is pretty timely - particularly since pension assumptions are covered in Level 2 of the CFA curriculum.

Stretching Accounts Payables

"Stretching" Accounts Payables (i.e. paying accounts payables past the due date without remitting the penalty, or paying after the discount period has expired but still taking the discount) is a common way that some firms gain cheap financing. However, a firm can only get away with it if they have an imbalance of power between them and the vendor. Here are a few Dilbert cartoons that illustrate the basic idea almost perfectly:



Unfortunately, unless you're a Wal-Mart (notorious for abusing their vendors), the flyswatter eventually ends up in the vendors' hands. So, "free" isn't always "free".

If a textbook vendor was smart, they'd just use Scott Adams for most of their illustrations.

Entrepreneurship and Satan's Learning-Challenged Little Brother

Although most people know him as the creator of Dilbert, Scott Adams may also be one of the funniest writers around. Here's a recent piece that appeared in the Wall Street Journal Online where he talks about dissatisfaction as a major driver of entrepreneurship:

I wasn't suffering alone. Many of my co-workers already had active side businesses and ambitious expansion plans. The guy in the cubicle behind me was running a concert equipment rental business. Across from me was a guy running a computer tech support business. We had Amway dealers, Mary Kay sales people, inventors, authors and just about any other business you can imagine. That's not counting all of the business plans in the incubation phase. I think we all understood that working in a cubicle and being managed by Satan's learning-challenged little brother was not a recipe for happiness.

Actually, it was a hamster-brained sociopath of a boss that made me think about going into academia.

Read the whole thing here. - it's good for a laugh (and it makes a lot of good points, too).

Dilbert's A Bayesian

Nuff said.

Job Satisfaction

Best line of the day: "I'm drowning and monkeys dressed as lifeguards are throwing me anchors"


I'm sure I'll find a way to use that in the next few days.

Scott Adams on Board Governance

A few years back I read a study on board practices. It said that the typical director averaged less than three hours a week on board-related duties. This cartoon by Scott Adams of Dilbert fame pretty much nails it.


Since I'm teaching Corporate Finance this spring, I'm sure this will make it into the class somehow.

Another Cartoon For My Office Door

I hope I'm usually the guy on at the front of the desk.

Be Careful Who You Delegate To

As usual, Scott Adams nails it. Rule # 1 should be "be careful who you delegate to".

Rule #2 should be "Don't tick off your secretary (or anyone else's)".