Back In Dayton Again

I'm out at the R.I.S.E. forum in Dayton with a couple of Unknown University students. I've seen about a half dozen of these, so I thought I'd take a few minutes off from the speakers and knock out a quick post.

We have our new (used) car, and settled with the insurance company on the old one (they came up about $300 from their initial offer on our old car, so the arguing paid off. And, for a net cost of $1400 (the amount of the new (used) car we bought less the insurance settlement, we went from a $2000 Camry with 125,000 miles on it (and some minor body damage) to a 2001 Camry with only 85,000 miles (and a body in pretty much pristine shape. So, all in all, it worked out.

Time to go back for a few more speakers and catch up with some old friends. Then it's back to the hotel room to put up a video for my students.

Last semester, I put together a fairly nice video on Modern Portfolio Theory (the math of variance/covariance, portfolio risk and return, efficient frontier, etc...). I'm rounding it out with another one on some historical returns (basically chapter 5 from Bodie, Kane, and Marcus' investments text). This means that I don;t have to lose class time just because I'm away.
(we cancelled class Friday, since I'm out of town).

So even while I'm away, my students don't have to feel deprived (yeah, right).

Back to the speakers.

Murphy is Alive and Well (And So Are We)

I was looking forward to our spring break - an entire uninterrupted week to work on research.

Hah! Enter Murphy, stage left.

A week before the break, the Unknown Wife got rear ended less than a mile from our house. As a result, our second car got totalled (mine - a ten year old Camry in fine running order) and she ended up going to the ER to get checked out for whiplash (she's o.k., but it blew almost 7 hours of our night). Luckily, she didn't have the kinds in the car.

Since then, she's been on muscle relaxants and going to physical therapy, and I've been either arguing with the insurance company about how much our car is worth or looking for a new (used) car - we're cheap so we don't buy new cars. Unfortunately, this requires time and search costs (and dealing with used car dealers, which is a whole lot of fun). All in all, I've had a brief early glimpse of a hell Dante never imagined - talking with insurance companies and used car dealers for all eternity.

Net result - a whole week basically down the toilet (which I woke up today to find is clogged, by the way - insert metaphor here).

It seems to be resolving - today we hear from the insurance company one last time, so we should be getting a check. Also, we're finally going to pick up a new used car (a Camry with less than 85,000 miles, which means it's barely broken in).

We still have to settle with the insurance company at some point about UW's injuries, but that comes after treatment is finished. It'll probably mean some $$ for the pain and suffering (not a lot, but some), but it still won't give us back our lost week.

The important thing is that everyone is o.k.

But I'd sure like to have that week back.

On an unrelated joke, this Dilbert cartoon tickled my funny bone. There seem to be many people on the green technologies bandwagon. I also think technology will end up solving our current environmental issues in ways we currently can;t even imagine. However, at present, most current green tech is more vaporware than real.

To me, green tech believers ofttimes come across as being in some strange religious sect (and I know about religious sects - I'm a proud member of one that believes some pretty outrageous things (like the God who made everything knows and cares about me personally, and sent his own son to die for me, etc...). And, like some members of my sect, they can often be pretty obnoxious (re: Jerry Falwell, Jim Baker, or the televangelist of your choice).

Anyway, here's the cartoon. Dogbert has the proper attitude: when someone gets on your nerves, find a way to make money off them.

As Glenn Reynolds says, "heh".

Car Scams

Since I'm reasonably sure that our car will be totaled (not totally, but I'd put 10/1 odds on it being the case, after looking at the car), it looks like I'll be buying a new one. So, I started looking around on the various sites. On CraigsList, they warned about "Ebay scams".

There was a 2009 Nissan Altima with 29,000 miles listed for $2900. Too good to be true, so I figured it was phony. Just in case, I figured I'd send an email. Here's my response (highlighting is mine, to point out the "fishy" parts.

Hello,

This 2009 Nissan Altima 2.5 S, automatic with 26,000 miles, runs and drives excellent(VIN: 1N4AL21E49N522850). This car has been extremely well maintained and it is fully paid. No accident, clear title, free of liens.
I have dropped my price to $2900 since this is an urgent sale and I need to sell it before 22 March, when I will be deployed in Afghanistan replacing the troops scheduled to come home.
(Note: appeal to sympathy - it's the military. Also, the chance to get something at a bargain))

I have decided to use ebay for this sale (the car isn't listed on ebay, only the payment process will be done through them). The car is already at our Military Logistic Department form Fort Bliss, TX, packed for shipping to a new owner. The Logistic Department will deliver the car to your home address in 3 days and the shipping is free for you. Since the car is in a military base, with no access you can't go there and take it, only the Logistic Department can deliver it. I will offer a 10 days period to inspect the car from the moment you receive it, before I will have your money.
(in other words, you can't see the car - just trust me).

If you agree with my price $2900, I need your FULL NAME AND COMPLETE ADDRESS, so I can inform ebay motors that I have a buyer! I will forward your details to them and then you will receive an invoice(with no further obligations or fees). Like this you'll be able to talk with them directly and ask all you want to know.
(eventually, he'll ask me to send it through Western Union, and poof goes my cash).

Hope to hear from you soon,
Sgt. XXX

Here's the info on the scam from eBay motors. I may play this jerk around for a while just on general principles. I know enough military folks that I could probably tie him in knots.

UPDATED 3/18 - so far, I've come across this scam three times in the last week. I haven't bought a car yet, but I have had some fun with the turkeys at the other end. Once said he was in Great Falls, and he ran for the hills when I told him I had a cousing stationed at Malmstrom AFB.

Good times, good times.

More Fun In The Unknown Household

We had a speaker (excellent one, at that)today at the Unknown University. Just as I got out, my cell rang - the Unknown Daughter on the phone tearfully says "Mom got into an accident and she's in the hospital". No other information.

So, I rush home (I live about 2 miles from the university) and try to get some info. UW was heading to the neighboring state (about 2 hours away) for a "retreat" at our old church (actually, a sleepover with a bunch of her old girlfriends). Less than a mile from our house, she stops, since the car in front of her was turning. She promptly gets rear-ended by some moron in a Ford Explorer (she was driving our Camry, so it's likely totalled).

She was able to get out of the car, but just in case (she got whipped around pretty hard), she went to the Emergency Room on a board, and called our house (we had arranged a babysitter so someone could watch the Unknown Baby Boy until I got home from the speaker).

She managed to call us from the ER (at this point it's 4 p.m.

Six hours later, after x-rays and an MRI,she gets checked out. No major problems, but she'll be sore tomorrow once the muscles start spasming (been there, done that, bought the shirt).

However, the MRI showed a possible bulging disk in her neck, but it could it's not clear whether it's from the accident, or just "Chronic". So (since I'm seeing a back specialist in a could of weeks), maybe they're running a "have one back checkup at the regular price, get the second for $99 (after all, it works for suits, so why not?).

Granted, it's a friday night, there are whackos out there, and it's a college town (and it's a friday night).

But. Six. Hours.

Damn.

Time to start looking for another car.

Some Reasources For Teachers

I'm not (by any account) always the best teacher. I do all right - ry (and sometimes even succeed), but I have a few personal characteristics that sometimes work against me. First, I have a certain, shall we say, lack of interpersonal skills and an occasional inability to pick up on cues (insert joke about faculty member with mild Asberger's here). In addition, I have a tendency to become a bit sarcastic under stress, and that never plays well in the classroom.

But, much like the palace eunuch, even if I can't replicate it while it's happening all around me, I know it when I see it.

I saw it today when I came across Joe Ben Hoyle's website. He's an accounting professor at the University of Richmond, and I've mentioned him previously here, where he was profiled in UR's alumni magazine.

It turns out he has a website with some good teaching material. One of the links is to a set of short (1-2 pages each) essays on teaching and another is to his blog. Both are well worth reading. Go over the blog when you have time, but do yourself a favor, and download the essays (they're in one document) now. I almost guarantee you'll get something out of it.

We Really Need Extra Credit (oh wait, we don't)

Every semester, I get a handful of students who come up to me and say something like "UP, is there anything I can do for extra credit? I reeeeeaaaaalllly need to pass this class". So this time, I thought I'd let students self-select up front instead of whining ex post.

I have about a 6-7 extra credit assignments for my investments class. I parcel them out one by one, with a deadline for each. Most will involve some kind of Excel assignment that will drive home a class topic, and will take an hour or so. If they complete an assignment by the deadline, they get one or more points added to the next exam.

I mostly have juniors in my investments class. They should currently be in the midst of applying for internships. Since they can't apply without a resume, I thought that giving them a point on the exam for simply having a resume review done by our college career services person was pretty much a no-brainer.

The end result - only three out of 21 students had the resume review done and got the points. And of course, they were my top three students.

Ah well. At least this makes it pretty easy to answer the students who darken my door in the last week of the semester looking for extra credit.

As usual, The Far Side has something that's on point.

Your Time-Wasting Moment Of The Day

Since we're at Hump Day + 1, I thought I'd post something humorous. The Unknown Daughter loves shows where someone ends up in a puddle of mud, slime, goo, or anything disgusting. So ABC's Wipeout was right up her alley. Here's a clip of their top ten:

I'll confess, I've also let her watch some episodes of Most Extreme Elimination Challenge (with the volume off because of some of the double-entendres) when the Unknown Wife wasn't around.

Based on early evidence, it's pretty likely the Unknown Toddler will als have similar tastes.

I'm less of a man than I used to be

Those of you who know me in my "real" identity also know that I've put on a lot of weight over the years. Some of it was stress, some due to the fact that I like food (after all, I haven't found anything better to eat), and a lot was just that when life gets busy, it's harder to find time to get to the gym.

I figured I either needed to get my self back in shape or start renting advertising space on my butt. And while there's plenty of space, there doesn't seem to be much demand.

I chose option A. Starting in the fall of 2010, I found myself waking up at regularly at 3 or 4 in the morning. Since I was teaching a 9:00 MWF class, that left over 5 hours before I had to be "at work".

The Unknown Wife works out at the gym from 6-7 with a neighbor. So, I figured I'd work out from 5-6 (the local YMCA opens at 5, so this means I wake about 4:30 or so). Once my medical issues from the summer cleared up, I started putting in about a half hour on the stationary bike each morning (and occasionally, some light weights). I figured I'd start with just exercising and not worry about diet at first - try too many things, and I'd just burn out.

Then, after the start of the year, I got an app for my smartphone called MyFitnessPal. It allows me to enter and track what I eat (calories) and my exercise throughout the day. So now, I get regular feedback (i.e. "if I eat this, I only have 500 calories left for dinner, but if I eat that, I get 800 calories"). As a result, I've been pretty much able to stick to a "net" 1500 calorie per day diet (i.e. I can consume 1500 calories PLUS any additional calories I burn off through exercising).

Net result so far -- I've lost about 7 pounds (and well over an inch around my waist). since the start of the year. Now I only have another 11 pounds to go. If I pull it off, it will mean a 10% body weight loss in about 4 months' time, and I'll be lighter than I've been in over 12 years.

In fact, If I only lose another 5 pounds (which I should by the end of March), I'll be lighter on April 1 than I usually am in August after almost 3 months of cycling. This means that if I can keep the spinning and weight loss up until all this global warming leaves us and I get my wheels back on the road, this should be a good year for cycling - less weight means faster pace/longer rides..

I've also had chronic intermittent back problems (another thing I got from my father). So, I've been going to a yoga class called "yoga for stiff guys" run by the father of the Unknown Daughter's best friend. Now, for the first time in probably 12 years, I can stand with my legs straight and put my palms flat on the floor.

So all in all, things are good. Now if I can only get these papers under review...

update: The only downside of this schedule is that I'm generally beat and in bed by 9:30 (not really a downside, since all I miss are garbage t.v. shows). The other night, I decided to read a bit before bed (I went up around 9). A half hour later the Unknown Wife came in to see me sound asleep with a book over my face. Luckily, she didn't have the presence of mind to snap a photo.

It's Time for Some Testosterone

As my students and some of my friends know, I'm a big MMA (Mixed Martial Arts) fan.

I did Tae Kwon Do in high school and competed in Judo in college, so I can appreciate a lot of the technical aspects. Thanks to the Judo, I particularly enjoy what happens on the ground in the submission game. In fact, in my first competition, I got chocked unconscious, which was pretty cool. It wasn't the last time, either - when we'd visit one dojo, there was a tradition that every new guy had to get choked out - kind of an initiation rite.

I gave up the judo fairly quickly, because I don;t have the body for it - have a tendency to get joint injuries. In the space of 2 years, I got a mildly separated shoulder, a torn rotator cuff, two dislocated elbows, and a severely bruised knee. To add insult to injury, since I was in the lightest weight class (131 lbs - those were the days, and are long gone), I ended up competing against kids who were 10-15 pounds lighter but had been doing judo since they were 6. In fact, one of the shoulder injuries was given to me in practice by a 14 year old, 116 pound girl who threw me around like a rag doll (in fairness, she was junior national champ the year before).

In any event, it looks like tonight's card will be a great one - the Silva/Belfort fight should provide some real fireworks, the Franklin/Griffin one should be a real crowd pleaser, and the Jones/Bader is another one I've been looking forward to.

Best of all, my local Applebee's shows the fights for free. So for the cost of getting it on cable pay-per-view, I get beer and munchies and still come out ahead.

Using Screen Recording Software

After I posted my video on security market indexes, I received a number of emails and messages asking questions on how I make them. So, I thought it would make for a a good post. So think of this a a FAQ on making videos for use in the classroom (or elsewhere).

1) What software do you use?
I use Camtasia, which is made by techsmith. It costs $299, but is available to academics for $180. Many universities make it available to faculty for free off a server, so check with yours to see. You can download a fully-functional 30-day free version to get started. You also need a headset with a microphone - using the computer's built in one doesn't work very well. There are other packages that do the same thing, but most people I know that are doing this are using Camtasia.

2) How does it work? Is it complicated?
Camtasia is what is called "Screen recording software". Basically, it records whatever goes across your computer screen as it happens. So, if you're working through a PowerPoint slide deck or a spreadsheet, it records whatever goes on your screen and puts it into a video file. If you're narrating material as you go through the slide deck, it will record the narration to. Alternately, you could record the video and add a voice-over later.

You can then edit the video to put in call-outs, captions, etc... Once that's done, Camtasia will create videos in just about any format you want - flash, MOV, AVI, iPad, etc...

You can also combine snippets of different videos. For example, I will often record 5-10 minutes at a time, clean it up, and save it. I will then combine the individual snippets. This is helpful when I make an error and want to later correct it.

3) How long does it take to make one?
The most time consuming part of making a video is getting organized before you start - making sure your slides are clean, getting your comments organized, etc... (but then, that's true of any teaching). Once everything is clean and organized, I find that there's about a 2:1 to 3:1 ratio of video production time to video length. In other words, a video with a 30 minute run time might take me about an hour to 90 minutes to create. For shorter videos, the ratio is less - I find that I can usually talk for 5-19 minutes without making a gaffe, so I can usually do my shorter videos in one pass. For longer ones, I often make mistakes partway through and have to re-record some parts. Once feature that adds extra time in the production of longer videos is that I typically put in a table of contents, and doing that takes a little bit of time.

4) How do you use the videos in class?
There are a couple of ways I've used them.

• As a substitute for a lecture - When I'm away at a conference or class gets canceled due to weather, I'll put a lecture online. I've also used them this way when I get time-constrained (i.e. there's a topic near the end of the semester, and you're running out of time). So this way, I can effectively get more lecture time.
• As additional resources for the students on selected topics - there are some topics that seem to be harder for some students to grasp at first pass (e.g. in the intro class, non-constant dividend growth valuation almost always confuses some students). So, for these topics, I put up a short primer (about 15-30 minutes with a number of examples and lots of explanation). That way, when a student has trouble, the first thing I point them to is the video. For most students, this is sufficient. If it isn't, I can usually fill in the gaps pretty quickly.
• For assignments that require technical skills: This semester, I'm assigning a lot of extra-credit assignments in my investments class that involve some Excel work. Rather than spend a lot of time in class showing them (for example) how to estimate a regression, I'll put up a video that walks them through it in Excel. As an aside, once I've got a video on a topic, I can often use it in other settings. For example, I did one on data tables a year or so back. Once I had it done, I found a lot of ways students could use this in other classes (for two examples: They could see how a stock's intrinsic value changes when growth or cost of capital varies. or they could see how duration varies with coupon and maturity of a bond).
  

5) How much do the students actually use them?
I haven't done any formal studies as to how much they're used, but when I post a new video, my total hits on the video is usually 2-3 times the number of students in my class. My guess is that this means that they might view it in its entirety once and then go back a time or two to see specific subsections.

6) I'm sold. How do I get started?
First, go to Techsmith's website and download the free 30-day trial. Then watch a few of their instructional videos (they've done a great job with these, by the way). Then, get yourself a headset (mine cost about $50 from Staples. Finally, if you want more help, Dan Parks has written an excellent (and inexpensive) book titled Camtasia Studi 6: The Definitive Guide. It's for the older version (the current version is version 7), but the basics are all there.

Finally, when you make a good video, let me know (I can always use more resources).