Society

Saturday

13 Oct 2007

How to stay sane when computers go crazy

‘I’m on the beach with my BlackBerry,’ a senior banker told the Financial Times back in early August. ‘Normally, banks run on half or two thirds of normal staff in August, which can make it difficult, so every banker has to remain vigilant, even if you’re on the beach like me.’ But, at precisely the same time, in a small back office at an investment bank on Wall Street, one highly vigilant trader was in a frenzy of activity — constantly checking seemingly unbelievable market data and firing off trade after trade, but still ending the week 30 per cent down, and wiping nearly $1 billion off the value of

Ian Cowie

Don’t put your money under the mattress

Extreme stock market volatility and the crisis at Northern Rock have prompted some crass comment about how to look after savings in uncertain times like these. Probably the worst is the glib recommendation, so often trotted out during a panic, that you might as well keep your money under the mattress. But the only people to benefit from financial advice like that are burglars. Quite contrary to what pessimists might have you believe, anyone can still enjoy risk-free, tax-free returns comfortably ahead of inflation. Meanwhile, the more adventurous may seek to profit from setbacks suffered by others. Long before the Chancellor, Alistair Darling, hurriedly announced that taxpayers would provide an

James Delingpole

A good share is like a good wife

James Delingpole admits to ‘utter crapness’ as an investor in the past, but thinks he now has a winning strategy It has been over a year since I checked my share portfolio but when I did the other day I had the most pleasant surprise. Apparently, despite understanding next to nothing about the workings of the stock market, I had managed to net myself a cool £3,000 profit. ‘Warren Buffett eat your heart out,’ I thought — at least for the few seconds it took me to work out what had really happened. This wasn’t my real portfolio at all. It was my paper (or, more accurately, ‘screen’) portfolio, based

Jonathan Davis

Spend more time in the library

Where do most investors go wrong in making their investment decisions? Warren Buffett, whom many like to think of as the world’s most successful stock market investor, has no doubts. People need to spend more time with their nose in a book, thinking about the way the world works, and less time looking at the price of the shares that they own. Buffett has long since moved on from buying individual shares to buying whole companies, but the way he spends his time has not changed much in the 50 years he has been a professional investor. One day a couple of years ago, he received a faxed letter about

Margareta Pagano

Riches from oily rags

If recycling your domestic rubbish is a pain, imagine what it’s like running a car-repair workshop: batteries, bolts, bulbs, bumpers, plastics, oily rags, scrap metal and toxic liquids are just a few of the nasties. Understandably, most of Britain’s 25,000 garage owners either don’t bother — nearby rivers are handy — or they take the rubbish to landfill sites or incinerators where they pay a packet to get rid of it. Either way they are likely to be breaking the law, or to be about to break it: a new EU directive comes into force at the end of this month stipulating that all waste must be pre-treated before it

Tamzin Lightwater

Notting Hill Nobody | 13 October 2007

Monday What can I say?! Happiness and General Wellbeing levels through roof! Dave is the greatest! We’re definitely going to win in 2009!! But more importantly, I have been seconded on to the Brown Attack Unit! Am at centre of fevered preparations ahead of PMQs involving cut-throat political strategy. So far have come up with Great Clunking Cowardy Custard and Big Fat Miserable Loser. For some reason, neither of these seem to have made it on to Jed’s shortlist of insults to be hurled across dispatch box by Dave, but there’s time yet. Have never seen Gids so happy. He’s commissioned limited-edition flock wallpaper with the words ‘I Told You

The Spectator

Letters to the Editor | 13 October 2007

A-bomb or B-movie? Sir: I have no idea whether or not we really came close to WW3 last month, as your correspondents Douglas Davis and James Forsyth insist (‘We came so close’, 6 October), but one line in their exciting piece brings doubts to mind. After ‘secretly’ crossing into Syria (as opposed to coming in on a guided tour, presumably) soil samples collected by ‘elite’ Israeli commandos (thank heavens they didn’t use run-of-the-mill commandos) at Tartous ‘suggested that the cargo [from North Korea] was nuclear’. Really? Presumably any such nuclear material would have been transported and stored in rather robust, sealed and shielded containers. If this stuff was radioactive enough,

Paul Johnson

They sang ‘Nearer My God to Thee’ as the Titanic went down

To me, history has always had a double magic. On the one hand it is a remorseless, objective account of what actually happened, brutally honest, from which there is no appeal to sentiment. On the other, it is a past wreathed in mists and half-glimpses, poetic, glamorous and sinister, peopled by daemonic or angelic figures, who thrill, enchant and terrify. I like both, and see them as complementary. My father taught me the first, under his maxim: ‘Never believe a historical event as fact unless you can document it.’ My mother taught me the second, when I was a child cradled in her arms, listening to her soft, musical voice

Aidan Hartley

The terrible secrets of Beijing’s ‘black jails’

The author’s arrest while investigating Chinese prisons A crowd of faeces-stained, starving figures with haunted eyes stared at us from behind the bars. Some looked cold and wet, as if they had been hosed down with water. Most of them were old, and some handicapped. They began wailing and pleading with us. ‘Let us out!’ they sobbed. ‘This is a prison!’ They showed us one ragged woman. ‘Look at this. She was beaten!’ They carried another elderly woman towards the bars who appeared to be paralysed. Guarding the inmates were young men in black jumpsuits. I knew they would stop us filming any second now, but at first the guards

Hywel Williams

Democracy can’t compete with the history of kings

Archaeology in north-eastern Syria was once a poor relation to the great sites that lie to the south and over the Iraqi border. Southern Mesopotamia is long established as the area that shows the urban roots of advanced civilisation. Ur may or may not be Abraham’s birthplace but by the 3rd millennium bc it was certainly the centre of a sophisticated court society. Nineveh, lying adjacent to modern Mosul, rivals — and may surpass — Ur in antiquity and was an Assyrian centre by the end of the 2nd millennium bc. Widespread looting and military action now make archaeological investigation next to impossible at such centres. But digging has continued

Fergal Keane

‘They come at two or three in the morning’

Rangoon The first few rows were taken up by the more ostentatiously pious of the congregation, elderly women mostly and a few schoolgirls wearing last year’s Holy Communion dresses. To their left, sitting in front of a statue of the Virgin, was a phalanx of nuns wearing the starched and forbidding habits long ago abandoned by their trendier sisters in the Western world. Behind them sat middle-aged husbands and wives, the latecomers and the doubters, and your correspondent, sweaty and portly and dressed unbecomingly in T-shirt and shorts, the necessary uniform of the foreign reporter posing as a tourist in totalitarian Burma. Far above us starlings and pigeons fluttered between

Lloyd Evans

Intelligence2

The great thing about the Intelligence2 debates is their vitality, pace and compression. A week-long seminar couldn’t have covered as much ground as we traversed in 100 minutes on Tuesday night. The motion ‘We should not be reluctant to assert the superiority of Western values’ was proposed by the author Ibn Warraq. He contrasted the West’s openness and flexibility with the ossified ‘closed book’ culture of Islam. ‘Easterners flock to collect their degrees from Oxbridge, Harvard and the Sorbonne,’ he said. Traffic in the other direction is minimal. Rejecting the ‘mind-numbing certainties’ of Islam in favour of the ‘liberating doubt’ of Bertrand Russell, he asked us if Islam would tolerate

Freddie Sayers

Monaco’s man with a plan takes his place centre stage

Last week Prince Albert II, ruler of the tiny Mediterranean state of Monaco since his father’s death in 2005, came to London to unveil his vision for the principality. The playboy of the gossip columns was nowhere to be seen: on display at a press conference at the Ritz hotel was a softly spoken, Amherst-educated, 49-year-old man with a plan. Using words such as ‘turnover’ rather than ‘GDP’, the Prince made it quite clear that the oldest luxury brand in Europe is under new ownership, and that its new CEO plans to develop it with all the skill and science of the private equity generation. ‘Monaco,’ he says, ‘is open

Robin Lee

Memories of the Venetian palace where I lived

Lucy Vickery

Decalogue

In Competition 2515 you were invited to supply Ten Commandments for a belief system, real or invented, of your choice. As traditional authority figures and sources of identity crumble round our ears, people (who, when it comes down to it, quite like to be told what to do) are casting around for new rule books. Take, for example, Pastafarianism, or the Church of the Flying Spaghetti Monster, which was drawn to my attention by Brian Murdoch. Founded in the US by physics graduate Bobby Henderson in protest at the teaching of Intelligent Design in schools (religion masquerading as science, as Henderson saw it), it has eight ‘I’d really rather you

Frank Keating

Big hits

Rugby’s World Cup has been surprisingly engaging — hooray for the gallant grandeur of England, France and the other small-fry nations! It has been salutary for the Celts, however, with Wales and Ireland given such a contemptuous bums’ rush that each had to watch last weekend’s quarter-finals on television back in their own homes and behind closed curtains. If their self-esteem is in shock, it’s nothing to the severe clattering their bodies had to endure. Mind you, that goes, with knobs on, for the surviving teams still scrapping to contest next week’s final, for any rugby pitch is now a major crash site — bell-clanging ambulances, paramedics and all. The

Rod Liddle

Laws that constrain free speech bring out the childish bigot in me

There was a strange non sequitur in Jack Straw’s latest policy announcement. The Justice Secretary revealed that inciting hatred of homosexuals would soon be a crime punishable by seven years in prison. And justifying the legislation, he said this: ‘It is a measure of how far we have come as a society in the last ten years that we are now appalled by hatred and invective directed at people on the basis of their sexuality. It is time for the law to recognise this.’ The logic of this quite defeats me. It seems to be saying that because homosexuals are no longer loathed or despised, it should be against the

Peter Eyre

The ideal romantic partner

Before embarking on Julie Kavanagh’s magnificent Nureyev, I had recently the pleasure of reading Richard Buckle’s The Adventures of a Ballet Critic. This passionate and witty memoir (a book so obsessively driven by the author’s love of dance, I defy anyone to read it and not be intoxicated by this love) gives a wonderfully vivid picture of the English ballet scene after the war. The main characters featured among the dramatis personae include Fred (Ashton), Billy (Chappell), Bobby (Helpmann), Margot (Fonteyn), and Madam (Ninette de Valois). You get the feeling this rather cosy and oh-so-naughty group with their private jokes and schoolgirly tiffs could be amusingly transformed into the comedic

Edward Norman

The withdrawal of God

Here is a book which the theological establishment will doubtless fall upon as an obese child might reach for a packet of crisps. Not that they will understand much of it: for this is a universal explanation of things, written from a philosophical perspective, and which, despite the homely illustrations to which philosophical writers are sometimes given, is densely composed and at times difficult to follow. It is also nearly 1,000 pages of fine print. Yet endurance is rewarded; this is a distinguished work both of scholarship and of understanding, by an academic from McGill University of international reputation. The difficulty in following the arguments is not due to lack

Edward Skidelsky

A march that has lost momentum

‘Do not judge a book by its cover’ is not a dictum that applies in the present case. Towards the Light: The Story of the Struggle for Liberty and Rights that Made the Modern West by Mr A. C. Grayling, Printed in the year 2007, sets us up for a rollicking defence of Freedom and Enlightenment in the style of Tom Paine or William Godwin. And that is exactly what we get. This is the story of modern Europe as told by a 19th-century liberal secularist, updated but not fundamentally rethought. Beginning with the horrors of the Spanish inquisition, it moves on to liberators of the mind such as Galileo,