Wednesday, November 30, 2016

Sketch for Sandy's Walk, 2016-7
Tuesday, November 29, 2016
To The Management

November Afternoons, 2016
color photograph
print 12" x 18" on 16" x 20" sheet, full frame, no crop

Chocolate Factory Cactus Garden, 2016
black and white photograph
print 13.043" x 19.817" on 20" x 24" sheet, full frame, no crop

Baldwin Magnolia, 2016
black and white photograph
print 11.413" x 18" on 16" x 20" sheet, full frame, no crop

Brilliant Trees, 2016
color photograph
print 22" x 14.687" on 24" x 20" sheet, full frame, no crop

Salon Tree, 2016
color photograph
print 18" x 11.937" on 16" x 20" sheet, full frame, no crop

Winter Sunflower, 2015
color photograph
print 14" x 9.333" on 16.5" x 11" sheet
Winter_Sunflower_Master178.tif, 2016, 2016, 2016, 2016.  Digital collage.

Practice; "scales."  Digital collage means post-production alteration of existing reality, including, but not limited to, combinations of exposures; insertion or removal of elements not simultaneously present in a scene, & etc.

Odd Ends, 2016.  Digital collage.
Sunday, November 27, 2016



"Hungry house," Mount Pleasant
Saturday, November 26, 2016


Emile Bernard, via Jon Klassen
Monday, November 21, 2016

Framing, 2016
Sunday, November 20, 2016

Thursday, November 17, 2016

Cameo Parkway, 2016
Wednesday, November 16, 2016


My best days, I stress days

Promise that you will sing about me
Promise that you will sing about me

I said when the lights shut off
And it's my turn to settle down
My main concern
Promise that you will sing about me
Promise that you will sing about me



Tuesday, November 15, 2016

One of the saddest MD&As in recent memory.  I too have insulated myself "from the accelerating decline of the Mongolian economy," but by choosing not to invest in YAK.TSE in the first place.

"Our revenues in Mongolian Tögrög terms have continued to slide  throughout 2016, with this slide further exacerbated by the 21% decline against the Canadian Dollar since the beginning of 2016. Additionally, high tenant  turnover is forcing us to increase tenant improvement spending and we are re-leasing properties at mostly lower rates.

Unfortunately, our AFFO continues to be negative and trends in  the Mongolian economy indicate that this negative AFFO will accelerate from here over the next few quarters—even  before factoring in the rapidly depreciating  Mongolian Tögrög. We’ve done all that we could to reduce costs, find new sources of revenue and insulate shareholders from the accelerating decline of the Mongolian economy. Unfortunately, I suspect that this will not be enough to get us to positive AFFO and the next few quarters will be quite bleak before the Mongolian economy hopefully bottoms. Following this, I suspect that the large quantity of commercial property that has recently come online and is expected to come online over the next few years, will lead to an oversupply in property that will take at least a few years and likely quite longer to be absorbed, leading to stubbornly high vacancy and dramatically lower rental rates than we have had to contend with over the past few years. These factors will likely forestall any recovery in property values for many years into the future.

Unfortunately, we have not reached the scale needed to support the cost structure of being a publicly traded company and are unlikely to do so without raising substantial additional capital—which is unlikely to be available to us on acceptable terms for quite some time. As a result of this, I do not see a logical event path that gets us beyond roughly break-even AFFO for the foreseeable future, even if rental rates recover dramatically from here. As CEO and largest shareholder, I clearly recognize that owning a pool of property that continues to have negative AFFO, while depreciating in value is a very unattractive outcome."
Monday, November 14, 2016
Tonight's reading:

George Packer, The Unwinding

"An Empirical Analysis of Algorithmic Pricing on Amazon Marketplace"

"Retail Strategies on the Web: Price and Non-Price Competition in the Online Book Industry"

Notes Essays—Peter Thiel’s CS183: Startup—Stanford, Spring 2012 (file under, Know thine adversary)


Maybe Tomorrow, 2016. Digital collage.

Windjammer, 2016
Saturday, November 12, 2016

They come home from college with the communist manifesto and try to realign the family.
Thursday, November 10, 2016


"For Gedney, Bethlehem was part work and part play—work because he was  figuring out what types of urban forms he should emphasize in his new images,  and play because it was a chance to mimic one of his professional idols. The  venerated photographer Walker Evans had wandered the streets of Bethlehem  forty years before, and it was there that he produced one of the iconic images  of the twentieth century. Gedney was a devotee of Evans and likely decided to  spend two nights in Bethlehem because of the city’s role in his hero’s career.  As he moved around the town by day and by night, Gedney was rarely more  than a few blocks from the cemetery scene that Evans had made famous in  photography circles. The streets of the town bristled with a sense of the master’s presence. Gedney was intensely conscious of walking in Evans’s footsteps.  He might not have thought of himself as a tourist, but he viewed Bethlehem through the lens of the celebrated image, just as many tourists experience a site only after wading through promotional materials. When he stood on the spot itself, Gedney described it as 'the logical place to take a picture.'"
Steelin' in the Years
Words and music by Mike Turner

Your everlasting summer
You can see it ripped-off fast
So you palm a piece of something
And you take it to a fence
But you wouldn't know a first edition
If you held it in your hand
The things you think are booty
I can't understand
Are you steelin' in the years
Stowin' away the crime
Are you gatherin' up the nickels
To exchange them for a dime
Are you steelin' in the years
Stowin' away the crime
Are you gatherin' up the nickels
To exchange them for a dime
You been tellin' me you're a thief
Since you were seventeen
In all the time I've known you
I still don't know what you steal
The weekend with Genet
Didn't turn out like you planned
The things that pass for literature
I can't understand

Wednesday, November 09, 2016

(Via EC)
Tuesday, November 08, 2016

November Afternoon, 2016
Sunday, November 06, 2016

"A second mistake some people make is not reading all of the documents. I guide people to always start with the SEC documents, and then go to other sources for information. It’s amazing how few analysts actually read SEC filings. It blows me away. We have the greatest disclosure system in the world and people by and large don’t take advantage of it. I am a big believer in looking for changes in language in a company’s filings over time. During the year we were short Enron, each successive filing had incrementally more damning disclosure about the company’s off-balance sheet entities. It was obvious that internal lawyers were pushing management to give investors more detail on these deals that were being done, as they felt uncomfortable about them. Language changes are not accidental. They are argued over internally.”

Linsley's blogging again, and has a new book -- not the definitively unfinished BC book -- coming out December 6th. And is making collages.

(Image: Robert Linsley, Collage #7, 2016, watercolor, watercolor pencil, silkscreen, acrylic, spray, enamel collage on canvas)
Friday, November 04, 2016

Kato Cat, unimpressed.  "He looks so much like his dad in this picture!"

 (Courtesy L.)
Tuesday, November 01, 2016

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