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The index was selling at 15 percent, or 30 points, over the futures. The potential profit in an arbitrage was 15 percent in a few days. But with prices collapsing, upticks were scarce. What to do?
A Man for All Markets
Edward O. Thorp
I mentioned this earlier but here is the full story. Some years ago, I heard John Fontanella, author of The Physics of Basketball, interviewed on NPR and he said something which blew my mind. So I picked up the phone and called him. “Professor, I heard you say you shoot with your middle and ring finger leaving the ball last,” I said. “Did I hear you correctly?” “Yes,” he answered. “That is correct.” “But I was taught to shoot with my index finger being the last finger to leave the ball. I wasn’t even aware you could shoot that way.” “Well, I started shooting that way back in college,” he answered. “During my freshman year, I hurt my index finger and I experimented a bit and found I could shoot better releasing off my middle and ring fingers. So that is how I shot from then on.” I paused a moment, digesting his words. Fontanella’s book was groundbreaking and I had a great deal of respect for him. The fact that one year he had led the country with a free-throw average of 92.2% (in the National Association of Intercollegiate Athletics) added credibility as well. Might this be the missing link to the secret of shooting? “Well,” I said. “It is disheartening to think for 49 years; I have been shooting the ball the wrong way.” I will never forget Fontanella’s reply. “It is not the way you were shooting was wrong. It is just shooting that way is not very biomechanically friendly.”
Straight Shooter
Bob Fisher
China watchers currently worry that the more recent shift towards centralization portends an increase in draconian control. As much as this appears to be the case, we can rest assured that as the inefficiencies caused by concentrated power increase, pressure will mount for yet another wave of decentralization. China is under normal circumstances a nation striving for balance, and as such, it is always a mistake to see short‐term moves as a march in one direction only.
What's Wrong With China
Paul Midler
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