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Stories from June 14, 2010
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1.U.S. Discovers Est. $1 Trillion of Minerals in Afghanistan (nytimes.com)
354 points by jfi on June 14, 2010 | 218 comments
2.SeaMicro drops an atom bomb on the server industry (venturebeat.com)
260 points by timf on June 14, 2010 | 109 comments
3.Writing great documentation (jacobian.org)
243 points by j_baker on June 14, 2010 | 25 comments
4.Need to process payments? (ycombinator.posterous.com)
183 points by pg on June 14, 2010 | 95 comments
5.Out of Sync: Puberty at age 9 (goodmenproject.com)
142 points by ghurlman on June 14, 2010 | 86 comments
6.How to Succeed as a Consultant (unixwiz.net)
137 points by danielrm26 on June 14, 2010 | 27 comments
7.The 10:10 Code (jgc.org)
127 points by jgrahamc on June 14, 2010 | 31 comments
8.No, The U.S. Didn’t Just ‘Discover’ a $1 Trillion Afghan Motherlode (wired.com)
125 points by pinstriped_dude on June 14, 2010 | 45 comments
9.Ask HN: Why do I always waste time on the weekends?
123 points by oz on June 14, 2010 | 141 comments
10.How oil did not corrupt Norway (ft.com)
120 points by moeffju on June 14, 2010 | 29 comments
11.How sharp is the iPhone 4's screen? High Res 4 vs 3GS images (scobleizer.com)
103 points by petekalo on June 14, 2010 | 100 comments
12.Ask HN: Please explain short selling?
95 points by captaincrunch on June 14, 2010 | 100 comments
13.Pure CSS Twitter Fail Whale (subcide.com)
93 points by jakarta on June 14, 2010 | 22 comments

A number of years ago there was an incident in Sweden where a tiny crack was discovered in a container that had been used to transport nuclear waste from one of Sweden's reactors.

This caused a lot of media attention and some politicians made statements about how this was unacceptable and that they would look into it.

One reporter interviewed an older physicist that worked with radiation protection for the government and asked him if a substantial amount of radiation had been released. He said something along the lines of:

"Well, yes there was a fairly significant amount of radiation, about the same level as you would be exposed to when standing next to several crates of bananas."

This made the media hype seem somewhat exaggerated...

15.Excel Is The World’s Most Used “Database” (jasonlbaptiste.com)
85 points by jasonlbaptiste on June 14, 2010 | 91 comments
16.Hacker angels (gabrielweinberg.com)
83 points by icey on June 14, 2010 | 8 comments
17.How to explain Euler's identity using triangles and spirals (docs.google.com)
79 points by skybrian on June 14, 2010 | 13 comments
18.1's and 0's (thedailywtf.com)
79 points by m0th87 on June 14, 2010 | 38 comments
19.Free development servers for startups/hackers (theplanet.com)
78 points by ds on June 14, 2010 | 37 comments
20.An end to the loneliness of the open-source coder? (petewarden.typepad.com)
75 points by Aaronontheweb on June 14, 2010 | 16 comments
21.The 7 Habits Of Highly Ineffective People (danariely.com)
74 points by Janteh on June 14, 2010 | 36 comments
22.Apple Censors a Gay Kiss in Oscar Wilde Comic (thebigmoney.com)
73 points by cageface on June 14, 2010 | 73 comments
23.JSonduit (jsonduit.com)
73 points by bdfh42 on June 14, 2010 | 20 comments
24.Can Money Set You Free? (ft.com)
69 points by mahipal on June 14, 2010 | 34 comments
25.The Sure Thing (How Entrepreneurs Really Succeed) by Malcolm Gladwell (allianceofceos.com)
69 points by GVRV on June 14, 2010 | 14 comments

There's a way for me to make some money, but it requires that I setup a fairly complicated spreadsheet to monitor several variables.

A "complicated spreadsheet" isn't a requirement, it's a roadblock.

You're making it harder for yourself by putting obstacles in front of yourself and then wondering why it's so hard to make progress.

I want to be rich. Filthy rich, even.

Getting rich isn't the goal. It's a byproduct.

You never even mention what your startup is going to do, who it's going to help, or why you absolutely positively must do it. If you have something you must do, identify it and focus on it. If you don't, find it. Everything else, including money, is just a detail.

I take a break to 'clear my head'.

Clearing your head isn't a necessary step, it's an excuse. Again, if you have something you must do, you head is already plenty clear. If you don't, then what are you clearing your head for?

In summary:

1. Find what you must do.

2. Start doing it.

In case you don't have something you must do, then just do something, anything. The process of doing will probably help you find your mission. The processes of thinking, preparing tools, and dreaming about money probably won't.

A couple of minor pointers that have helped me:

1. If you have 2 computers, make one for work and the other for internet and put them in different rooms.

2. Throw your TV set into the dumpster.

3. When you have code to work on, be at your terminal, working on it (Mode 1).

4. When you don't have code to write, by anywhere but your terminal with pencil and paper handy (Mode 2).

5. Start every day in Mode 1 and end every day (probably in bed) in Mode 2. Ending the day in Mode 2 in requisite to being able to start in Mode 1 the next day.

6. Take care of yourself.


I'm a hedge fund accountant, and my software follows many thousands of trades including short sales. I know exactly how to account for these trades, but I have no idea what's really going on.

As an accountant, all I see is that someone sold 1200 XYZ shares at $23.00 each, receiving a grand total of $27,600 cash. To simplify the example, I am not subtracting any commission there.

Now the funny thing is, this account didn't have any XYZ shares before the trade. Nevertheless the trade happens, and the account has -1200 XYZ shares, and $27,600 more cash than it had before.

At that moment, the account has incurred a liability to buy back 1200 XYZ shares -- eventually. The account can hold this liability indefinitely, so long as it has enough total capital to reassure the brokerage that it can easily buy back the 1200 XYZ shares at any time.

I've read the stories about "naked short selling," and how that's a giant scam because the seller doesn't even have to locate any shares to borrow. In this telling of the story, the seller is issuing brand new shares and selling them into the market -- in effect, counterfeiting. I spoke with a very experienced money manager about this, and that's his take.

I also spoke with a friend who is very wise about markets, and he had an entirely different take. He made the point that no matter how the short sale occurs, either "naked" or "covered", in both cases the seller ends up with the liability of -1200 XYZ shares, so what's the difference? The only difference is that if the short sale is naked, the seller owes the shares to the buyer. But if the short sale is covered, the seller owes the shares to the lender. Either way it's a liability of -1200 XYZ shares, and the only difference is to whom the shares are promised.

Now I'm a rational man, so it bothers the hell out of me to agree with both sides of a contradiction. So what gives? I don't know. The only other shred of evidence I have, and it's a very small shred, is the phenomenon of "Payment in Lieu of Dividends." If I have negative quantity of shares, and those shares pay a dividend, then that dividend is charged to my account as an expense. Normally, as an accountant, I see that as a simple negative dividend, which we call a "Dividend Expense." But sometimes I see those negative dividends labeled "Payment in Lieu of Dividends." I read an article once saying that the only difference is that "payment in lieu" occurs when the shares were sold short in a "naked" fashion.

So maybe, just maybe, there is a real difference between the two forms of short sales, as my money manager friend asserts. The money manager asserts that naked short selling actually increases the total supply of shares, even past the official "float" of shares issued by the company!

The people at the Gold Anti-Trust Action Committee (GATA) even claim that short sellers are creating this artificial counterfeit supply in the gold market. I would suggest calling their bluff and redeeming the physical gold into allocated Swiss storage -- but lo and behold, these financial instruments have no redemption contract. They're cash-settled only. How conveeeeeenient.

You asked if the people lending the shares actually hope for the stock's success. Of course they do. If someone borrows 1200 XYZ shares and sells them, the lender still has an asset of 1200 XYZ shares, and clearly still wants their price to rise. The seller has a liability of -1200 XYZ shares, and clearly wants their price to fall. The buyer has an asset of 1200 XYZ shares, and clearly wants their price to rise.

Note that in my example there, the total net quantity of shares in the three accounts involved is precisely 1200, both before and after the short-sale. So where is this alleged increase in supply from short-selling? Perhaps there's no increase in this case because it wasn't a naked short sale.

OK fine, let's make it a naked short sale. A trader simply sells 1200 XYZ shares without either having them or bothering to borrow them. Another trader buys those 1200 XYZ shares. Now the seller has a liability of -1200 XYZ shares, and the buyer has an assert of 1200 XYZ shares. So after the short sale, the total net quantity of XYZ shares in those two accounts is precisely 0. But the net quantity was precisely 0 before the short-sale as well! So once again, where oh where is this alleged increase in supply caused by short-selling?

28.IPhone 4: Who cares about pixel density? It's about interface definition. (dustincurtis.com)
60 points by sachinag on June 14, 2010 | 55 comments
29.The Pattern-Seeking Fallacy (asmartbear.com)
60 points by cwilson on June 14, 2010 | 31 comments

I am not US based but still need a decent payment processing system. All existing payment processing companies are US-centric. Any luck for us?

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