text:
Lubos Pastor
University of Chicago - Booth School of Business
Professor of Finance
5807 S. Woodlawn Avenue
http://www.ChicagoGSB.edu/fac/lubos.pastor/
Scholarly Papers (42)
Are Stocks Really Less Volatile in the Long Run?
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EFA 2009 Bergen Meetings Paper, AFA 2010 Atlanta Meetings Paper
Number of pages: 56 Posted: 26 May 2008 Last Revised: 13 Dec 2011
Lubos Pastor and Robert F. Stambaugh
University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 12,624 (425)
stock, volatility, target-date funds, Bayesian, predictive system, predictive variance
NBER Working Paper No. w14757
Number of pages: 54 Posted: 26 Feb 2009 Last Revised: 29 Oct 2021
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long-run, risk, stock, variance
Liquidity Risk and Expected Stock Returns
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Citation 1,275
Downloads 4,459 (2,654)
Asset pricing, liquidity risk, expected returns
NBER Working Paper No. w8462
Number of pages: 38 Posted: 10 Sep 2001 Last Revised: 16 Aug 2021
Number of pages: 48 Posted: 20 Sep 2002
Citation 193
Scale and Skill in Active Management
Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Lubos Pastor, Robert F. Stambaugh and Lucian Taylor
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
returns to scale, mutual funds, active management, skill
Becker Friedman Institute for Research in Economics Working Paper No. 2014-03
Number of pages: 51 Posted: 05 Feb 2014
Lubos Pastor, Robert F. Stambaugh and Lucian A. Taylor
Downloads 387 (98,898)
Chicago Booth Research Paper No. 14-20
Number of pages: 52 Posted: 15 Jul 2014
Number of pages: 51 Posted: 11 Feb 2014 Last Revised: 09 May 2021
Number of pages: 53 Posted: 02 Jun 2014
mutual funds, returns to scale, skill
Learning in Financial Markets
Learning in Financial Markets, Forthcoming, Chicago Booth School of Business Research Paper No. 08-28
Number of pages: 30 Posted: 08 Jan 2009
Lubos Pastor and Pietro Veronesi
University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Number of pages: 30 Posted: 19 Jan 2009 Last Revised: 08 Jan 2022
Bayesian, bubble, predictability, uncertainty, volatility
Sustainable Investing in Equilibrium
Chicago Booth Research Paper No. 20-12, Fama-Miller Working Paper, Journal of Financial Economics (JFE), Forthcoming, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 54 Posted: 19 Dec 2019 Last Revised: 12 Aug 2020
sustainable investing, socially responsible investing, ESG, social impact
University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-24
Number of pages: 55 Posted: 16 Dec 2019 Last Revised: 16 Jan 2022
Number of pages: 57 Posted: 17 Dec 2019 Last Revised: 16 Jun 2020
ESG, social impact, Socially responsible investing, sustainable investing
Non-Standard Errors
Number of pages: 56 Posted: 23 Nov 2021 Last Revised: 29 Nov 2021
Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Michael Razen, Utz Weitzel, David Abad, Menachem (Meni) Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James Angel, Amadeus Bach, Edwin Baidoo, Gaetan Bakalli, Andrea Barbon, Oksana Bashchenko, Parampreet Christopher Bindra, Geir Hoidal Bjonnes, Jeff Black, Bernard S. Black, Santiago Bohorquez, Oleg Bondarenko, Charles S. Bos, Ciril Bosch-Rosa, Elie Bouri, Christian T. Brownlees, Anna Calamia, Viet Nga Cao, Gunther Capelle-Blancard, Laura Capera, Massimiliano Caporin, Allen Carrion, Tolga Caskurlu, Bidisha Chakrabarty, Mikhail Chernov, William M. Cheung, Ludwig B. Chincarini, Tarun Chordia, Sheung Chi Chow, Benjamin Clapham, Jean-Edouard Colliard, Carole Comerton-Forde, Edward Curran, Thong Dao, Wale Dare, Ryan J. Davies, Riccardo De Blasis, Gianluca De Nard, Fany Declerck, Oleg Deev, Hans Degryse, Solomon Deku, Christophe Desagre, Mathijs A. Van Dijk, Chukwuma Dim, Thomas Dimpfl, Yun Jiang Dong, Philip Drummond, Tom Dudda, Ariadna Dumitrescu, Teodor Dyakov, Anne Haubo Dyhrberg, Michał Dzieliński, Asli Eksi, Izidin El Kalak, Saskia ter Ellen, Nicolas Eugster, Martin D.D. Evans, Michael Farrell, Ester Félez-Viñas, Gerardo Ferrara, El Mehdi FERROUHI, Andrea Flori, Jonathan Fluharty-Jaidee, Sean Foley, Kingsley Y. L. Fong, Thierry Foucault, Tatiana Franus, Francesco A. Franzoni, Bart Frijns, Michael Frömmel, Servanna Fu, Sascha Füllbrunn, Baoqing Gan, Thomas Gehrig, Dirk Gerritsen, Javier Gil-Bazo, Lawrence R. Glosten, Thomas Gomez, Arseny Gorbenko, Ufuk Güçbilmez, Joachim Grammig, Vincent Gregoire, Björn Hagströmer, Julien Hambuckers, Erik Hapnes, Jeffrey H. Harris, Lawrence Harris, Simon Hartmann, Jean-Baptiste Hasse, Nikolaus Hautsch, Xuezhong He, Davidson Heath, Simon Hediger, Terrence Hendershott, Ann Marie Hibbert, Erik Hjalmarsson, Seth A. Hoelscher, Peter Hoffmann, Craig W. Holden, Alex R. Horenstein, Wenqian Huang, Da Huang, Christophe Hurlin, Alexey Ivashchenko, Subramanian R. Iyer, Hossein Jahanshahloo, Naji Jalkh, Charles M. Jones, Simon Jurkatis, Petri Jylha, Andreas Kaeck, Gabriel Kaiser, Arzé Karam, Egle Karmaziene, Bernhard Kassner, Markku Kaustia, Ekaterina Kazak, Fearghal Kearney, Vincent van Kervel, Saad Khan, Marta Khomyn, Tony Klein, Olga Klein, Alexander Klos, Michael Koetter, Jan Pieter Krahnen, Aleksey Kolokolov, Robert A. Korajczyk, Roman Kozhan, Amy Kwan, Quentin Lajaunie, FY Eric C Lam, Marie Lambert, Hugues Langlois, Jens Lausen, Tobias Lauter, Markus Leippold, Vladimir Levin, Yijie Li, (Michael) Hui Li, Chee Yoong Liew, Thomas Lindner, Oliver B. Linton, Jiacheng Liu, Anqi Liu, Guillermo Llorente, Matthijs Lof, Ariel Lohr, Francis A. Longstaff, Alejandro Lopez-Lira, Shawn Mankad, Nicola Mano, Alexis Marchal, Charles Martineau, Francesco Mazzola, Debrah Meloso, Roxana Mihet, Vijay Mohan, Sophie Moinas, David Moore, Liangyi Mu, Dmitriy Muravyev, Dermot Murphy, Gabor Neszveda, Christian Neumeier, Ulf Nielsson, Mahendrarajah Nimalendran, Sven Nolte, Lars L. Norden, Peter O'Neill, Khaled Obaid, Bernt Arne Ødegaard, Per Östberg, Marcus Painter, Stefan Palan, Imon Palit, Andreas Park, Roberto Pascual, Paolo Pasquariello, Lubos Pastor, Vinay Patel, Andrew J. Patton, Neil D. Pearson, Loriana Pelizzon, Matthias Pelster, Christophe Pérignon, Cameron Pfiffer, Richard Philip, Tomáš Plíhal, Puneet Prakash, Oliver-Alexander Press, Tina Prodromou, Tālis J. Putniņš, Gaurav Raizada, David A. Rakowski, Angelo Ranaldo, Luca Regis, Stefan Reitz, Thomas Renault, Rex Wang Renjie, Roberto Renò, Steven Riddiough, Kalle Rinne, Paul Rintamäki, Ryan Riordan, Thomas Rittmannsberger, Iñaki Rodríguez-Longarela, Dominik Rösch, Lavinia Rognone, Brian Roseman, Ioanid Rosu, Saurabh Roy, Nicolas Rudolf, Stephen Rush, Khaladdin Rzayev, Aleksandra Rzeźnik, Anthony Sanford, Harikumar Sankaran, Asani Sarkar, Lucio Sarno, O. Scaillet, Stefan Scharnowski, Klaus Reiner Schenk-Hoppé, Andrea Schertler, Michael Schneider, Florian Schroeder, Norman Schürhoff, Philipp Schuster, Marco A. Schwarz, Mark S. Seasholes, Norman Seeger, Or Shachar, Andriy Shkilko, Jessica Shui, Mario Sikic, Giorgia Simion, Lee A. Smales, Paul Söderlind, Elvira Sojli, Konstantin Sokolov, Laima Spokeviciute, Denitsa Stefanova, Marti G. Subrahmanyam, Sebastian Neusüss, Barnabas Szaszi, Oleksandr Talavera, Yuehua Tang, Nicholas Taylor, Wing Wah Tham, Erik Theissen, Julian Thimme, Ian Tonks, Hai Tran, Luca Trapin, Anders B. Trolle, Giorgio Valente, Robert A. Van Ness, Aurelio Vasquez, Thanos Verousis, Patrick Verwijmeren, Anders Vilhelmsson, Grigory Vilkov, Vladimir Vladimirov, Sebastian Vogel, Stefan Voigt, Wolf Wagner, Thomas Walther, Patrick Weiss, Michel van der Wel, Ingrid M. Werner, P. Joakim Westerholm, Christian Westheide, Evert Wipplinger, Michael Wolf, Christian C. P. Wolff, Leonard Wolk, Wing Keung Wong, Jan Wrampelmeyer, Shuo Xia, Dacheng Xiu, Ke Xu, Caihong Xu, Pradeep K. Yadav, José Yagüe, Cheng Yan, Antti Yang, Woongsun Yoo, Wenjia Yu, Shihao Yu, Bart Z. Yueshen, Darya Yuferova, Marcin Zamojski, Abalfazl Zareei, Stefan Zeisberger, S. Sarah Zhang, Xiaoyu Zhang, Zhuo Zhong, Z. Ivy Zhou, Chen Zhou, Xingyu Sonya Zhu, Marius Zoican, Remco C. J. Zwinkels, Jian Chen, Teodor Duevski, Ge Gao, Roland Gemayel, Dudley Gilder, Paul Kuhle, Emiliano Pagnotta, Michele Pelli, Jantje Sönksen, Lu Zhang, Konrad Ilczuk, Dimitar Bogoev, Ya Qian, Hans C. Wika, Yihe Yu, Lu Zhao, Michael Mi, Li Bao, Andreea Vaduva, Prokopczuk Prokopczuk, Alejandro Avetikian and Zhen-Xing Wu
Vrije Universiteit Amsterdam, Stockholm School of Economics - Department of Economics, University of Innsbruck - Department of Economics, University of Innsbruck, Stockholm School of Economics - Department of Economics, University of Innsbruck, University of Innsbruck, VU University Amsterdam, Universidad de Alicante, Bar-Ilan University - Graduate School of Business Administration, International Monetary Fund (IMF), Princeton University - Department of Economics, CNRS, University of Oxford, University of Technology Sydney, Neoma Business School, University of Chicago - Booth School of Business, Wilfrid Laurier University, Georgetown University - Department of Finance, University of Mannheim, Tennessee Technological University, Auburn University, University of St. Gallen, Swiss Finance Institute - HEC Lausanne, University of Innsbruck, BI Norwegian Business School, University of Memphis, Northwestern University, Universidad EAFIT, University of Illinois at Chicago - Department of Finance, VU University Amsterdam, Technische Universität Berlin, Lebanese American University, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences, Toulouse Business School - TBS Education, Monash University, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), Vrije Universiteit Amsterdam, University of Padua - Department of Statistical Sciences, University of Memphis - Fogelman College of Business and Economics, University of Amsterdam Business School, Saint Louis University - Richard A. Chaifetz School of Business, UCLA Anderson, Waseda University, University of San Francisco, Emory University - Department of Finance, Australian National University (ANU), Goethe University Frankfurt Faculty of Economics and Business Administration, HEC Paris - Finance Department, University of Melbourne - Department of Finance, Macquarie University - Faculty of Business and Economics, Nottingham Trent University, University of Liège - HEC Liège, Babson College - Finance Division, Lum University Giuseppe Degennaro, University of Zurich - Department of Banking and Finance, Universite de Toulouse 1 Capitole, Masaryk University, KU Leuven - Faculty of Business and Economics (FEB), Nottingham Trent University - Nottingham Business School, Catholic University of Louvain (UCL) - Louvain Finance (LFIN), Erasmus University Rotterdam (EUR), Frankfurt School of Finance & Management, University of Hohenheim, Queen's University (Canada), Queen's School of Business, Students, Monash University, Technische Universität Dresden, ESADE Business School, EDHEC Business School, The University of Sydney - Discipline of Finance, Stockholm Business School, Stockholm University, Salisbury University - Perdue School of Business, Cardiff Business School, Norges Bank, University of Queensland - Business School, Georgetown University - Department of Economics, University of Virginia - Darden School of Business, University of Technology Sydney, Bank of England, Ibn Tofail University, Politecnico di Milano, affiliation not provided to SSRN, Macquarie University, University of New South Wales - School of Banking and Finance, HEC Paris - Finance Department, City, University of London - Bayes Business School, Universita della Svizzera italiana (USI Lugano), Open University of the Netherlands - School of Management, Ghent University - Department of Financial Economics, University of Essex, Radboud University Nijmegen - Institute for Management Research, University of Technology Sydney, University of Vienna, Utrecht University - School of Economics, Universitat Pompeu Fabra, Columbia University, Utrecht University, Monash University - Department of Banking and Finance, University of Glasgow - Adam Smith Business School, University of Tuebingen, HEC Montreal - Department of Finance, Stockholm University - Stockholm Business School, University of Liège - HEC Liège, Aalto University, American University - Department of Finance and Real Estate, University of Southern California - Marshall School of Business - Finance and Business Economics Department, Vienna University of Economics and Business, Aix-Marseille University - Aix-Marseille School of Economics, University of Vienna - Department of Statistics and Operations Research, Xi'an Jiaotong-Liverpool University (XJTLU), University of Utah - David Eccles School of Business, University of Zurich - Department of Banking and Finance, University of California, Berkeley - Haas School of Business, West Virginia University - Department of Finance, University of Gothenburg - Centre for Finance, Missouri State University - College of Business, European Central Bank (ECB), Indiana University - Kelley School of Business - Department of Finance, University of Miami - School of Business Administration - Department of Economics, Bank for International Settlements, University of Utah - David Eccles School of Business, University of Orleans, Vrije Universiteit Amsterdam, University of New Mexico, Cardiff University, Saint Joseph University, Columbia University, Bank of England, Aalto University, University of Sussex, Universite du Luxembourg, Durham University, Vrije Universiteit Amsterdam, Ludwig-Maximilians-Universität München, Aalto University, University of Manchester, Queen's University Belfast - Queen's Management School, Pontifical Catholic University of Chile, Queen's University - Smith School of Business, University of Technology Sydney (UTS), Queen's University Belfast - Queen's Management School, University of Warwick - Warwick Business School, University of Kiel - Institute for Quantitative Business and Economics Research (QBER), Halle Institute for Economic Research, Goethe University Frankfurt, University of Manchester - Manchester Business School, Northwestern University - Kellogg School of Management, University of Warwick - Warwick Business School, University of Sydney Business School, Université Paris Dauphine, Hong Kong Institute for Monetary and Financial Research, University of Liège - HEC Liège, HEC Paris - Finance Department, Goethe University Frankfurt - Faculty of Economics and Business Administration, Leibniz University Hannover, University of Zurich, Universite du Luxembourg, S&P Global Ratings, La Trobe University, UCSI University, Malaysia, Vienna University of Economics and Business, University of Cambridge, Purdue University, The University of Sydney, Universidad Autonoma de Madrid, Aalto University, Arizona State University (ASU) - Finance Department, University of California, Los Angeles (UCLA) - Finance Area, University of Florida - Department of Finance, Insurance and Real Estate, Cornell University, Swiss Finance Institute - USI Lugano, EPFL, University of Toronto - Rotman School of Management and UTSC Management, Erasmus University Rotterdam (EUR), Toulouse Business School - TBS Education, Swiss Finance Institute - HEC Lausanne, RMIT University, Universite de Toulouse 1 Capitole, Loyola Marymount University, Queen's University Belfast, Michigan State University - Department of Finance, University of Illinois at Chicago, John von Neumann University, Justus Liebig University Giessen, Copenhagen Business School, University of Florida - Department of Finance, Insurance and Real Estate, Radboud University, Stockholm University - Stockholm Business School, Financial Conduct Authority, California State University-East Bay, University of Stavanger, University of Zurich - Department of Banking and Finance, Saint Louis University - Department of Finance, University of Graz, RMIT University - Blockchain Innovation Hub, University of Toronto at Mississauga, Universidad de las Islas Baleares, University of Michigan, Stephen M. Ross School of Business, University of Chicago - Booth School of Business, University of Technology Sydney (UTS), Duke University - Department of Economics, University of Illinois at Urbana-Champaign - Department of Finance, Goethe University Frankfurt - Faculty of Economics and Business Administration, Paderborn University, HEC Paris - Finance Department, University of Oregon - Department of Finance, University of Sydney Business School, Masaryk University - Faculty of Economics and Administration, Missouri State University, Copenhagen Business School, The University of Wollongong, University of Technology Sydney (UTS), Indian Institute of Management, Ahmedabad, University of Texas at Arlington, University of St. Gallen, University of Turin, University of Kiel, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), Vrije Universiteit Amsterdam, University of Verona - Department of Economics, University of Toronto, Universite du Luxembourg - Department of Finance, Aalto University, Queen's University - Smith School of Business, University of Innsbruck, Stockholm University - Stockholm Business School, State University of New York at Buffalo - School of Management, University of Manchester - Alliance Manchester Business School, Oklahoma State University - Department of Finance, HEC Paris - Finance Department, University of Massachusetts Amherst, University of Lausanne, Bowling Green State University - Department of Finance, University of Edinburgh, York University, University of Maryland, New Mexico State University, Federal Reserve Bank of New York, University of Cambridge - Judge Business School, Swiss Finance Institute - University of Geneva, University of Mannheim, University of Manchester - Department of Economics, University of Graz, Deutsche Bundesbank, Macquarie University, Swiss Finance Institute - HEC Lausanne, University of Stuttgart, Heinrich Heine University Dusseldorf - Duesseldorf Institute for Competition Economics (DICE), Arizona State University (ASU), Vrije Universiteit Amsterdam, Federal Reserve Bank of New York, Wilfrid Laurier University - Lazaridis School of Business and Economics, Federal Housing Finance Agency, University of Zurich, Vienna University of Economics and Business, University of Western Australia, University of St. Gallen, UNSW Australia Business School, School of Banking and Finance, University of Memphis - Fogelman College of Business and Economics, Cardiff University, Universite du Luxembourg, New York University (NYU) - Leonard N. Stern School of Business, Aalto University, Eötvös Loránd University, University of Birmingham, University of Florida - Department of Finance, University of Bristol - School of Economics, Finance and Management, University of New South Wales (UNSW), University of Mannheim - Finance Area, Karlsruhe Institute of Technology, University of Bristol, Loyola Marymount University - Department of Finance, University of Bologna, Copenhagen Business School, Hong Kong Institute for Monetary and Financial Research (HKIMR), University of Mississippi - Department of Finance, Instituto Tecnológico Autónomo de México (ITAM) - Department of Business Administration, University of Essex, Erasmus University Rotterdam (EUR), Lund University - Department of Economics, Frankfurt School of Finance & Management, University of Amsterdam Business School, Erasmus University Rotterdam (EUR), University of Copenhagen, Erasmus University Rotterdam (EUR), Utrecht University - School of Economics, Vienna Graduate School of Finance (VGSF), Erasmus University Rotterdam, The Ohio State University - Fisher College of Business, University of Sydney Business School, University of Vienna - Department of Finance, Vrije Universiteit Amsterdam, School of Business and Economics, University of Zurich - Department of Economics, University of Luxembourg, Vrije Universiteit Amsterdam, Auburn University, Vrije Universiteit Amsterdam, School of Business and Economics, Halle Institute for Economic Research, University of Chicago - Booth School of Business, University of Victoria, Stockholm University - Stockholm Business School, University of Oklahoma Price College of Business, University of Murcia, University of Essex - Essex Business School, Erasmus University Rotterdam, Central Michigan University, Aalto University, Vrije Universiteit Amsterdam, INSEAD - Finance, Norwegian School of Economics (NHH) - Department of Finance, University of Gothenburg, Centre for Finance, Stockholm University, Radboud University, Institute for Management Research, University of Manchester - Alliance Manchester Business School, Vrije Universiteit Amsterdam, University of Melbourne - Department of Finance, University of Wollongong - School of Accounting, Economics & Finance, Erasmus University Rotterdam (EUR), Bank for International Settlements (BIS), University of Toronto at Mississauga - Department of Management, VU University Amsterdam - Department of Finance and Financial Sector Management, Queen's University, HEC Paris, University of Birmingham, King's College London, Cardiff University, Universidad Autonoma de Madrid, Singapore Management University, University of Zurich - Department of Banking and Finance, University of Tübingen, University of Luxembourg, affiliation not provided to SSRN, EDF Energy, United Kingdom, Aalto University, Norges Bank, University at Buffalo, SUNY, Southwestern University of Finance and Economics (SWUFE), The University of Sydney, University of Toulouse Capitole, UC3M, Leibniz University Hannover, Pontifical Catholic University of Chile and Zhongnan University of Economics and Law - School of Finance
non-standard errors, multi-analyst approach, liquidity
Technological Revolutions and Stock Prices
CRSP Working Paper No. 606, AFA 2007 Chicago Meetings Paper, EFA 2006 Zurich Meetings
Number of pages: 49 Posted: 24 May 2006 Last Revised: 04 Oct 2014
bubble, internet, railroads, technology, innovation, learning, uncertainty
Number of pages: 50 Posted: 06 Oct 2006 Last Revised: 15 Dec 2021
Bubble, railroads, technology, innovation
On the Size of the Active Management Industry
CRSP Working Paper
Number of pages: 44 Posted: 06 Jan 2010 Last Revised: 24 Jul 2012
active management, returns to scale, learning, mutual funds
MFI Working Paper No. 2010-001
Number of pages: 47 Posted: 13 Jan 2010 Last Revised: 13 Dec 2011
Number of pages: 45 Posted: 18 Jan 2010 Last Revised: 07 Oct 2021
active management, learning, returns to scale
Political Uncertainty and Risk Premia
Number of pages: 58 Posted: 24 Sep 2011 Last Revised: 09 May 2017
political, uncertainty, government, risk premium, put, learning, Bayesian
Fama-Miller Working Paper , Chicago Booth Research Paper No. 11-39
Number of pages: 58 Posted: 06 Oct 2011 Last Revised: 07 Mar 2014
Becker Friedman Institute for Research in Economics Working Paper No. 2011-007
Number of pages: 61 Posted: 07 Dec 2011 Last Revised: 11 Dec 2012
Number of pages: 59 Posted: 30 Sep 2011 Last Revised: 20 Sep 2021
Number of pages: 54 Posted: 01 Nov 2011
Bayesian, government, learning, political, put, risk premium, uncertainty
The Price of Political Uncertainty: Theory and Evidence from the Option Market
Fama-Miller Working Paper
Number of pages: 69 Posted: 19 Nov 2013 Last Revised: 26 Jun 2016
Bryan T. Kelly, Lubos Pastor and Pietro Veronesi
Yale SOM, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
political uncertainty, options, elections, summits, variance risk, tail risk
Number of pages: 69 Posted: 17 Jan 2014 Last Revised: 21 Aug 2021
options, political uncertainty
Predictive Systems: Living with Imperfect Predictors
CRSP Working Paper No. 617, EFA 2007 Ljubljana Meetings Paper
Number of pages: 51 Posted: 19 Feb 2007 Last Revised: 13 Dec 2011
predictability, expected stock return, state space model, predictive system, predictive regression, imperfect predictors, Bayesian
Number of pages: 59 Posted: 12 Jan 2007 Last Revised: 20 Sep 2021
Number of pages: 59 Posted: 07 Jul 2012 Last Revised: 06 Jan 2022
Expected stock return, predictability, predictive regression, predictive system, state space model
Uncertainty about Government Policy and Stock Prices
Chicago Booth Research Paper No. 10-25, Fama-Miller Working Paper Series
Number of pages: 54 Posted: 16 Jun 2010 Last Revised: 06 Sep 2012
government, policy, uncertainty, learning, stock, price
MFI Working Paper No. 2010-08
Number of pages: 62 Posted: 29 Jun 2010 Last Revised: 28 Jul 2021
government, learning, stock, uncertainty
Dissecting Green Returns
sustainable investing, ESG, green factor, greenium
Sustainable investing, ESG, environment, climate change, green bonds
Number of pages: 54 Posted: 21 Jun 2021 Last Revised: 18 Nov 2021
This is a National Bureau of Economic Research Paper. NBER charges a fee of $5.00 for this paper.
File name: nber.pdf
Number of pages: 56 Posted: 14 Jul 2021 Last Revised: 22 Sep 2021
ESG, green factor, greenium, sustainable investing
Do Funds Make More When They Trade More?
Journal of Finance, Forthcoming, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 53 Posted: 16 Nov 2014 Last Revised: 11 Aug 2020
turnover, skill, performance, active management, mutual funds
Number of pages: 51 Posted: 24 Nov 2014 Last Revised: 25 Jul 2021
active management, mutual funds, performance, skill, turnover
Judging Fund Managers by the Company They Keep
CRSP Working Paper No. 545; EFA 2003 Annual Conference Paper No. 884, HBS Finance Working Paper No. 04-023
Randolph B. Cohen, Joshua D. Coval and Lubos Pastor
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and University of Chicago - Booth School of Business
Number of pages: 48 Posted: 06 Dec 2002 Last Revised: 30 Jul 2021
Mutual funds, performance evaluation, persistence
Political Cycles and Stock Returns
Chicago Booth Research Paper No. 17-01, Fama-Miller Working Paper
political cycles, risk aversion, presidential puzzle
Number of pages: 42 Posted: 21 Feb 2017 Last Revised: 07 Nov 2021
Number of pages: 44 Posted: 02 Mar 2017 Last Revised: 22 Oct 2018
political cycles, presidential puzzle, risk aversion
Fund Tradeoffs
Journal of Financial Economics (JFE), Forthcoming, Chicago Booth Research Paper No. 20-10, Fama-Miller Working Paper , Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 55 Posted: 02 Aug 2017 Last Revised: 12 Aug 2020
fund tradeoffs, fund characteristics, portfolio liquidity, diversification
Number of pages: 55 Posted: 17 Aug 2017 Last Revised: 05 Sep 2021
Portfolio Liquidity and Diversification: Theory and Evidence
Diversification, Mutual funds, portfolio liquidity
Number of pages: 44 Posted: 19 Dec 2017 Last Revised: 22 Oct 2018
Was There a NASDAQ Bubble in the Late 1990s?
Number of pages: 52 Posted: 06 Jul 2004 Last Revised: 01 Dec 2021
Bubble, valuation, uncertainty
Stock Valuation and Learning About Profitability
Valuation, learning, uncertainty, profitability, market to book
Investing in Equity Mutual Funds
mutual funds, portfolio selection
Liquidity Risk After 20 Years
Number of pages: 25 Posted: 15 Apr 2019 Last Revised: 10 May 2019
liquidity, liquidity risk, liquidity factor, liquidity beta
Number of pages: 23 Posted: 30 Apr 2019 Last Revised: 05 Dec 2021
liquidity, liquidity beta, liquidity factor, liquidity risk
Inequality Aversion, Populism, and the Backlash Against Globalization
Number of pages: 58 Posted: 01 Aug 2018 Last Revised: 05 Dec 2020
inequality, populism, globalization, Brexit, Trump
Number of pages: 56 Posted: 22 Aug 2018 Last Revised: 14 Jan 2022
Number of pages: 58 Posted: 21 Aug 2018 Last Revised: 28 May 2020
Brexit, Globalization, inequality, populism, Trump
Mutual Fund Performance and Flows During the COVID-19 Crisis
Number of pages: 49 Posted: 10 Jul 2020 Last Revised: 14 Aug 2020
Lubos Pastor and Blair Vorsatz
COVID-19, mutual funds, sustainability
Number of pages: 50 Posted: 24 Jul 2020 Last Revised: 13 Oct 2021
Stock Prices and IPO Waves
Asset Pricing Models: Implications for Expected Returns and Portfolio Selection
A. Craig Mackinlay and Lubos Pastor
University of Pennsylvania - The Wharton School, Finance Department and University of Chicago - Booth School of Business
Number of pages: 41 Posted: 12 Jul 2000 Last Revised: 29 Jul 2021
Portfolio Selection and Asset Pricing Models
Journal of Finance, forthcoming.
portfolio choice, Bayesian, asset pricing, CAPM
Fifty Shades of QE: Comparing Findings of Central Bankers and Academics
Number of pages: 40 Posted: 28 Sep 2020 Last Revised: 08 Apr 2021
Brian Fabo, Martina Jancokova, Elisabeth Kempf and Lubos Pastor
National Bank of Slovakia, European Central Bank, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
economic research, quantitative easing, QE, central bank, career concerns
Number of pages: 40 Posted: 17 Sep 2020 Last Revised: 05 Feb 2021
University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-128
ECB Working Paper No. 2021/2584
Number of pages: 153 Posted: 11 Aug 2021
Number of pages: 41 Posted: 28 Sep 2020 Last Revised: 18 Nov 2021
Number of pages: 43 Posted: 02 Dec 2020 Last Revised: 14 May 2021
Mutual Fund Performance and Seemingly Unrelated Assets
Performance evaluation; Mutual funds; Bayesian analysis
performance evaluation, mutual funds, Bayesian analysis
Evaluating and Investing in Equity Mutual Funds
Entrepreneurial Learning, the Ipo Decision, and the Post-Ipo Drop in Firm Profitability
Downloads 865 ( 36,043)
CRSP Working Paper No. 616
Lubos Pastor, Lucian Taylor and Pietro Veronesi
University of Chicago - Booth School of Business, University of Pennsylvania - The Wharton School and University of Chicago - Booth School of Business
Lubos Pastor, Pietro Veronesi and Lucian Taylor
University of Chicago - Booth School of Business, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
learning, IPO, diversification, profitability
Entrepreneurial Learning, IPO Decision, and the Post-IPO Drop in Firm Profitability
Diversification, IPO, Learning
Estimating the Intertemporal Risk-Return Tradeoff Using the Implied Cost of Capital
Lubos Pastor, Meenakshi Sinha, Meenakshi Sinha and Bhaskaran Swaminathan
University of Chicago - Booth School of Business, Cornerstone ResearchCornell University - Samuel Curtis Johnson Graduate School of Management and LSV Asset Management
risk-return tradeoff, implied cost of capital, international integration
Number of pages: 56 Posted: 13 Apr 2006 Last Revised: 19 Aug 2021
Implied cost of capital, risk-return tradeoff, international integration
Costs of Equity from Factor-Based Models
Rodney L. White Center Working Paper Series #8-97
Number of pages: 47 Posted: 20 Oct 1997
Robert F. Stambaugh and Lubos Pastor
University of Pennsylvania - The Wharton School and University of Chicago - Booth School of Business
The Equity Premium and Structural Breaks
Income Inequality and Asset Prices Under Redistributive Taxation
Number of pages: 39 Posted: 17 Oct 2015 Last Revised: 09 May 2017
inequality, redistribution, taxation, asset pricing, entrepreneurship, heterogeneous agents, incomplete markets
inequality, taxation
Number of pages: 40 Posted: 26 Oct 2015 Last Revised: 16 Sep 2021
asset pricing, entrepreneurship, inequality, redistribution, taxation
The Capital Markets Union: Key Challenges
Franklin Allen and Lubos Pastor
Imperial College London and University of Chicago - Booth School of Business
Capital Markets Union
Uncertainty and Valuations: A Comment
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> they were doing stuff) caused immediate headaches on the cluster.
> the systems are retired I think.
but I just don't like to do it.  30 systems?  Yoik!
all that goes with it).
RH/C 5 at all - yet.
long one, is worth it in my book.


text:
5 Hip Eateries in the Mile-Ex Neighborhood of Montreal
August 8, 2018 /0 Comments/by Ashley EdwardsSpecial Feature
The Restaurants and Cafes in Montreal's Mile-Ex Neighborhood
Restaurant Mile-Ex
Alexanderplatz Bar
Dépanneur Le Pick Up
The Mile-Ex neighborhood in Montreal, Canada has a plethora of restaurants and cafes from which to choose so it is hard to narrow it down to five. But if you are thinking about purchasing a condo in Mile-Ex this list helps you get acquainted with what this neighborhood has to offer.
This is the first of a special two-part series about our neighbors to the north and two of our favorite, charming Canadian neighborhoods and cities that we think deserve a big shout-out. Thank you for joining us today as we explore the hipster Mile-Ex neighborhood in Montreal.
Mile-Ex in Montreal is undoubtedly one of the most interesting neighborhoods in the whole city. However, this area didn't even have a name until Restaurant Mile-Ex opened in 2012. Unlike other restaurants that take their name from the neighborhood, this time the neighborhood named itself after the iconic restaurant.
Owner Gregory Paul likes to keep his restaurant homey, so they don't take reservations. That can be problematic during weekends as it's not a large restaurant. One of its charming features is that it has three large communal tables and you can wait outside for a seat while you enjoy a glass of wine.
Once you come in, you'll appreciate the comfortable vibe of the place, accentuated by the abstract paintings and the "nostalgic" music. The Lobster Roll and the Staff Meal Salad are crowd favorites.
This restaurant is dedicated to French cuisine and the French café culture. The inside and the outside of the place offer traditional vibes, which imbue the whole place (and the food) with drama and flair.
The menu is quite extensive, although it primarily features traditional French dishes. Daily offerings include cassoulet and bouillabaisse, while you can also enjoy escargot and steak fries. The onion soup gratinée is excellent.
As this is a French restaurant, you have a nice wine list from which to choose. The wines come not just from France, but also from California, New York, Germany, Italy, and Australia.
This is still one of the coolest bars in the entirety of Montreal. After all, it doesn't feel like a traditional bar. It's actually more like a party in someone's backyard.
It's hard to avoid that sense of comfortable and casual familiarity in this restaurant. But, don't come in during the winter, because this place is closed. It opens in the Spring, and it's in full rocking mode during the Summer.
At this establishment, partygoers share the communal tables, and there are food trucks while neighborhood chefs set up their barbecue stations. The people speak both French and English, and the crowd can be quite diverse. You'll find new hipsters making friends with long-time locals, while woodworkers hang out with architects.
Don't even bother to make a reservation, as the place is so low-key they don't even have a telephone number. Your credit card isn't good here either, as it only accepts cash transactions. It's like a summer rave party that takes a break during the winter.
Just recently, Dépanneur Le Pick Up was ranked as one of the top three "best cheap eats" in Montreal, and it also ranked number one for the best sandwich. This is quite an accomplishment for a place that maintained the very same look it had since the 1970s.
"Dépanneur" interprets as a neighborhood corner store. This restaurant sells food like eggs and milk and they serve terrific sandwiches as well. The Pulled-pork Sandwich is incredible. If you're a vegetarian, you can go with the Fermented Tofu Skin Sandwich.
The Manitoba is the Eater Montreal's 2014 Restaurant of the Year. It's very unpretentious, but here the art of fine dining is very much alive and well. With a terrific and relaxing atmosphere, it affords you fine dining at terrific prices.
Yes, the Mile-Ex neighborhood in Montreal, Canada has very hip eateries! We recommend that you explore and enjoy this unique hipster community but don't stop with this list. Add to it your own recommendations for restaurants and cafes in this area.
We invite you to return tomorrow for part two of our series about our friends in the North. Tomorrow's topic will be "Winnipeg; Canada's Fastest-Growing City." See you there!
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Tags: hipster, restaurants, travel, travel destinations
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redpajama_set_name: RedPajamaCommonCrawl


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producing non-white offspring is race treachery
Print February 3, 2020 20 comments
The Vices of The Virtue of Nationalism
Hazony on Ethnic vs. Civic Nationalism
Yoram Hazony
In my review of Yoram Hazony's The Virtue of Nationalism, I focused on the book's virtues. Here I wish to examine some of its vices.
The positions I defend in The White Nationalist Manifesto (San Francisco: Counter-Currents, 2018) are broadly compatible with the main arguments of The Virtue of Nationalism. We both hold that nations are ethnic groups and that the best political system is the nation-state, because it promotes peace between peoples and leaves them free to become who they are, to live according to their unique identities. We also hold that empires—including high-minded liberal globalist schemes to create universal peace and prosperity—lead to conflict, hatred, despotism, and the destruction of diversity.
There are three main points on which Hazony and I diverge. First, he thinks shared kinship is less important than shared ideas in defining a nation, which makes it hard for him to distinguish ethnic from civic nationalism. Second, he is dismissive of the idea of complete ethnic homogeneity in a nation-state, which makes his account of the nation-state hard to differentiate from an empire. Third, he denies that there is a universal right to the self-determination of peoples.
Kinship & Conventions
You can buy Greg Johnson's The White Nationalist Manifesto here
Hazony recognizes that individuals come into the world as members of collectives: families, clans, tribes, and nations. Specifically, individuals are born into these groups. They are all kinship groups. The family is our primary kinship group, but clans, tribes, and nations are progressively more extended families. Kinship is, of course, a biological category. But Hazony makes a puzzling claim:
It is important to notice that the Israelites' conception of the nation has nothing to do with biology or what we call race. For biblical nations, everything depends on a shared understanding of history, language, and religion that is passed from parents to children, but which outsiders can join as well. . . . But the ability of Israel to bring these foreign-born individuals into its ranks depends on their willingness to accept Israel's God, laws, and understanding of history. Without embracing these central aspects of Israelite tradition, they will not become a part of the Israelite nation. (p. 20)
Later, he adds:
The mutual loyalty of individuals to one another is the most powerful force operative in the political realm. . . . Modern writers, who have been too much influenced by Darwinian science, tend to look for ways of explaining this as a process driven by biological kinship. But this has never been so. An isolated human individual, having survived a war or disease that has cut him off from his family and his clan, will invariably attach himself to a new family or a new clan, adding his strength to theirs and receiving their protection in turn. In so doing, he establishes new bonds of mutual loyalty to replace those that had been lost, and this without any necessary tie of biological kinship. This constant regeneration of shattered bonds of mutual loyalty means that families can and do adopt individual members that were not born among them, and that clans adopt entire families that were not born among them. In the same way, nations adopt not only foreign individuals and families, but entire tribes that were once foreigners but are no considered foreigners any longer.
Thus while all nations use the metaphor of brotherhood to invoke a family-like relationship of mutual loyalty among their members, actual biological kinship is never more than a raw material upon which a nation is built, if it is even that. In the end, the decisive factor is the ties of mutual loyalty that have been established among members of a nation in the face of long years of joint hardship and success. (pp. 69–70)
First of all, it seems an overstatement to claim that nationhood has "nothing to do with" kinship simply because people who were not born into a nation can become part of one. That is like saying that families have "nothing to do with" kinship because one's spouse is not born into one's family. Marriages are established and governed according to conventions, but does this mean that the family is entirely a matter of convention, and that biology has "nothing to do with" it? Obviously not.
You can buy Greg Johnson's New Right vs. Old Right here
Families are biological enterprises, meaning they begin as biological entities and seek to perpetuate themselves as biological entities. People are born into families, and spouses are brought into families to propagate them biologically into the future. Two families are united by convention in marriage, but they become united by nature when children are born that carry on both bloodlines.
Families can adopt children, of course, but it is a legal fiction. In adoption, parents act as if they are biological parents; children act as if they are biological children. But both parents and children feel a distance that they do not feel with biological kin. Every adoptive child knows this immediately when he meets his biological parents or siblings. Blood is thicker than convention. This is why twins who are separated at birth are more similar to one another than to any adoptive siblings.
It should also be noted that orphans can receive the same essential care without the fictions of adoption simply by becoming wards of other families, for instance when an orphan is taken in by his godparents.
As for "adoption" into clans, tribes, and nations: these are biological enterprises as well. People are born into them, and others are brought into them to help propagate them into the future. This process is, revealingly, called "naturalization." Naturalization is governed by convention, but a new member of one's tribe or nation becomes truly naturalized when he or she marries among the natives and blends their bloodlines together.
In The White Nationalist Manifesto, I draw upon Genetic Similarity Theory, which argues that social harmony is a function of genetic similarity (see pp. 83–86). Thus biologically homogeneous nations are happier than biologically heterogeneous ones. People do not marry members of their own families, of course, and nations can "naturalize" outsiders, but the happiest marriages and the best candidates for naturalization are genetically similar to the kinship groups they are joining. Biological similarity explains why it is more common for spouses to kill one another than their own children (one is not a close blood relative with one's spouse). It also explains why step-parents are notorious for abuse and neglect.
You can buy Greg Johnson's Toward a New Nationalism here
Biological race comes into play because races are the widest category of genetically compatible candidates for marriage or naturalization. It is bad to marry members of other races, for the genetic distance between you and your spouse will create an unstable relationship, your children will be more biologically alien to you than any random stranger of your own race, and the unique biological traits of your race—especially the genetically recessive ones—will not be passed on to your offspring. And if it is bad to marry members of other races, then one should not naturalize them as part of one's nation, because every candidate for naturalization should be considered as a potential daughter- or son-in-law.
Families, clans, tribes, and nations are not entirely biological categories. They are also defined in terms of conventions. To this extent, Hazony is correct to say that they are not entirely biological. But the conventions are generally subordinated to the fact that these collectives are all biological enterprises, with biological origins and aims. Thus Hazony is guilty of a gross exaggeration when he says that they have "nothing to do with biology or what we call race." They have almost everything to do with biological kinship, including race.
Hazony's position is complicated by the fact that he is an orthodox Jew, who holds that the Jewish nation was constituted by receiving the Ten Commandments at Sinai, and that other individuals and tribes can become Jews by accepting the Jewish religion, as well as their language and customs. It is this "constructivist" idea that different peoples can be made into Jews or members of other nations by imposing ideas upon them that leads to Hazony's statement that "biological kinship is never more than a raw material upon which a nation is built, if it is even that." For an ideologue, ideas are the form and people are merely the matter of society.
Let's bracket for now the question of whether any of the Bible's historical narratives are true. On Hazony's own terms, it is a mistake to identify the Jewish people with the Jewish religion, because the Jews existed as a people before the exodus and the legislation of Sinai. Beyond that, the vast majority of Jews today no longer believe in the Jewish religion, including Hazony's fellow Israelis, but they somehow remain Jews. To my eyes, the Jewish religion is just a phase that the Jewish people went through in their long history.
Hazony is correct that the ancient Israelites naturalized some Egyptians, Midianites, and Moabites and made them part of their nation. (Of course, biologically speaking, these groups were not all that different to start with.) But to claim that what is essential to Jewish nationhood is ideas, not kinship, commits him to the absurdity that if the seed of Abraham became biologically extinct, Jews would still exist as long as some Ethiopians thought of themselves as Jews. And if the Palestinians want their land back, I suppose that all they need do is convert to Judaism and invoke their right of return.
You can buy Greg Johnson's From Plato to Postmodernism here
If ideas are essential and biological kinship is at best the "raw material" of nationhood, one is committed to the idea that a nation can continue even if its people have been replaced. I submit that no political philosophy or political regime is legitimate if it in effect declares to a people: "If you accept our rule, we can't guarantee that you, the people, will not be replaced by an entirely alien people. But what counts is the perpetuation of our ideas, not your particular bloodlines. You are merely the 'raw material' for the projects of us ideologues and politicians." Try it, but be aware that a sensible people might hand you your head.
Hazony's conception of Jewish nationhood as essentially a matter of religion is indistinguishable from the civic nationalist ideas he critiques elsewhere in The Virtue of Nationalism in Chapter XVI, "The Myth of the Neutral State."
The neutral state is the idea that since every nation-state inevitably contains some minorities, in fairness to minorities, every state should strive to be culturally neutral and to replace the cohesion of a core ethnic group with a universal civic ideology. Hazony dismisses the idea that a nation can be unified by an ideology rather than by a core ethnic group:
The neutral state is a myth. It is invoked time and again by those who imagine that the state can exist in the absence of national or tribal cohesion—when in reality it is only national or tribal cohesion that permits an independent state to be established and maintained without unceasing political repressions. (p. 156)
If it is not loyalty to the tribe or nation that moves the individual to shoulder such onerous burdens [obeying the law, paying taxes, and serving in the military], what will be the source of his motivations to make such sacrifices in the neutral states? Recognizing that some such motivation is needed, advocates of the neutral state propose that individuals should be loyal to the constitutional documents of the state, and to its various symbols that the officials of the state have invented to represent these constitutional documents in the minds of the population. (pp. 156–57)
Hazony even claims that founding documents that cannot be sufficient sources of social cohesion include sacred books like the Hebrew bible:
We do know of instances of what seems to be such loyalty to a written document. Throughout history, Muslims have placed themselves at risk to protect their own founding document, the Koran . . . Hindus have a similar veneration for the Vedas, and Jews for the tora, the scroll of books of Moses which are in effect their constitution. (p. 157)
Hazony offers a very compelling argument for why documents, whether religious or secular, cannot be the foundation for a society:
What is impossible . . . is that . . . a sacralization of the constitutional documents of the state should take place without the framework of family, tribal, and national traditions in which the individual learns to revere and hold scared certain things and not others. . . . The sacred comes into existence only in the customs of family, clan, tribe, and nation. (p. 158)
Here Hazony is claiming that the national community has priority over its constitutional documents. This seems like a flat contradiction to his earlier claim that what is essential to biblical nationhood is the tora, not the people.
The error of civic nationalism is that it mistakes an effect for a cause, and thus turns a mere means into an end in itself. A document like the US Constitution is the product of a concrete historical community seeking the best way to organize itself in order to live well and perpetuate itself over time. The constitution is merely a tool used by the American people to govern itself. The community has priority over the document.
The civic nationalist, however, sacralizes the document and mistakes it for the foundation of the community. The civic nationalist claims that the constitution and its ideas are what is essential. A tool of the people is transformed into an end in itself, and the people simply become replaceable raw material. Thus to the civic nationalist, America would still exist if the founding stock were completely replaced with non-whites who pay lip service to the constitution.
You can buy Greg Johnson's In Defense of Prejudice here
The civic nationalist error is deeply Protestant. Catholics believe that the tradition of the church as a concrete living community has priority over the Bible. After all, the church created the Bible, and the church interprets the Bible's meaning in light of a tradition going back to Jesus himself. Protestants seek to reverse this relationship, making the Bible (interpreted without the authority of tradition) into the foundation of the church.
As an orthodox Jew, Hazony presumably regards the laws of Sinai as divine revelation. Thus they are a product of God, not of the Jewish people, and they are in effect a re-founding of the Jewish people, who have been transformed into the raw material for an ideal state. But non-Jews are under no obligation to accept "the Israelites' conception of the nation." Americans, for instance, are under no obligation whatsoever to regard the US Constitution as holy writ. In fact, Christians should probably recoil from this as idolatry.
The US Constitution is a product of the historical American people, a tool to ensure their flourishing and propagation, that civic nationalists have turned into a kind of egalitarian ideological Moloch to which the historical American people are being sacrificed to expiate the fake sin of "racism." National populism, however, treats the people as sacred and constitutions as mere tools, to be adapted or discarded in service of the people's common good.
In the sequel, I will deal with the difficulty of distinguishing Hazony's account of nation-states from empires, as well as his rejection of a universal right to self-determination.
Pox Populi on Greg Johnson's "Against Imperialism"
White Nationalism vs. Racially-Conscious White Ethnonationalisms Part 2
The Bene Gesserit Books: Frank Herbert's Heretics of Dune & Chapterhouse: Dune
civic nationalismethnic genetic interestsethnic nationalismfamilygenetic similarity theoryGreg JohnsonJohnson on HazonyJudaismmarriagepolitical philosophyThe Virtue of NationalismYoram Hazony
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Black Invention Myths
D.M. says:
These are powerful objections against Hazony's arguments. The admixture of convention found in kinship groups does not negate these groups as products of nature. The point directed against the founding or constitutional interpretation of peopledom is reminiscent of Roger Scruton's contention that such documents grow out of, and merely codify, existing communities, traditions and peoples.
Question: Didn't the authors of New Testament books (e.g. Mathew, Mark, Luke, John) live long before the Catholic Church was established, so that the Church didn't preexist or "write the Bible"? My knowledge of these timelines is hazy.
The Bible canon was determined in 382 by the Council of Rome.
Joshua Shalet says:
Christians should probably recoil from this as idolatry
Christianity, by definition, is idolatrous: it is founded on the absurd notion that a human being is equal to God
The early Christians did not 'do' idolatry. The first image of the Christ Agonistes does not seem to have made an appearance until the 1200s. The Cross itself is not idolatrous. If I understand the Catechism of the Catholic Church, the relationship between the Father, Son and Holy Ghost (Logos) is a central 'mystery' of the Church. Jesus is never described as 'merely human', that's the whole point of the Nativity story. Nor does he 'become God' at some point, though there is a moment when he accepts his commission, his fate on the Cross. So, no, Christianity is not 'by definition' idolatrous because Christians do not believe that a 'human being' was equal to 'God'.
Apologetics and excuses
http://www.leavingjesus.net/LeavingJ/ebook.html
Vehmgericht says:
It would be fair to say that Christianity is idolatrous by the standards of Judaism and Islam.
But that is a debate for another day.
Yes, that is more than fair to say
Completely accurate in fact
But I'm talking about objective standards i.e. the seven noahide laws, which were revealed long before the first jew was even conceived (absolute truth for all humanity)
See this book, or at least the description to understand better what I'm referring to
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.amazon.com/Secular-Design-Philosophy-Noahide-Observances/dp/0977988538&ved=2ahUKEwi94p3OlLrnAhWqyKYKHbswCVQQFjACegQIARAB&usg=AOvVaw0jeK8Pcj85CDcN1SOmUAx7
watcher says:
The Roman Church says it was founded by Jesus Christ when he gathered the twelve apostles, though the Rome aspect was the work of St. Peter.
Franklin Ryckaert says:
Yoram Hazony is right in his opinion about the Jewish identity, but he is wrong in trying to project that idea on other peoples. The Jewish identity is unique in that it was created by a religious impulse. After that it became an ethnic identity in history. A foreigner can become a member of that ethnic identity by converting to the Jewish religion. In such an individual the Jewish identity is so to speak "created anew" as it was originally created : by a religious impulse.
But this is highly rare in the world. A foreigner cannot "become a Japanese" by converting to the Shinto religion, nor can a foreigner "become an Indian" by converting to Hinduism. Ethnic identities are created and maintained primarily by biology, not by culture. The British people would disappear if it would be entirely replaced by Bantus, no matter how much those Bantus would adopt British culture.
Meanwhile, Jews themselves are not entirely without biological ethnic prejudices. Ethiopian Jews are by all means culturally Jews, but in Israel they are not fully accepted. Blood is thicker than water!
Orcish says:
True, even within Hinduism, there are strong ancestral and blood divisions, the four large castes, but even small castes and jahtis within them. Mark Rich's book says those are some of the most ancient separate blood lines in the world. The Brahmin caste for example has two parts. There are the priests who remain endogamous from all others, and then another caste of Brahmin, those who over grew their economic niche and had to go into business. The two groups of Brahmin stay endogamous from each other and from everyone else! The idea of caste and culture seem more definitive in India than any concept of historical nationhood.
I wonder what is the fate of an Hindu who has mixed caste blood? How is he considered by the community? Whether they practice hypo or hyper decent would tell you a lot.
The Japanese have historically despised mixed race individuals and sought to deport them to Brazil. I don't know if this remains true but it certainly was up until about 1980.
Other groups see heredity and race as very very important to nationhood.
Corday says:
"Hāfu" is the Japanese term for mixed race people. It is simply "half" as a loanword. Today, they make up about 3% of Japan's population.
In Japanese politics and culture, it is simply taken for granted that Japan belongs to the Japanese and I believe their constitution enshrines the principle that the state exists to serve the Yamato race.
There is growing pressure on them, however, to admit migrants and become a multiracial state. I suspect this is mostly because homogeneous Japan obliterating the multiracial US in every meaningful metric of quality of life is a major embarrassment to the "globalist elite," who feel that the world is only big enough for one ethnostate. The Japanese have recently been getting much of the same cynical rhetoric as us – "Your population is declining! Who will pay your pensions?" I've seen the mulatto tennis star Naomi Osaka touted as an example of what current year Japan should be.
I pray that Japan never lets this happen, but its status as a demilitarized US protectorate doesn't put it in a good position to avoid this stuff.
Lovely Phenotypes says:
Can you direct me to any articles or books of Japan trying to send their mixed-race peoples to Brazil?
It's funny, whenever discussing race and miscegenation with people and where the mongrels should go after the proposed "breakup" of the USA, I always said Brazil, as it is historically mixed.
No, I just read it in some article. On one of these sites. I'm no expert and can't vouch for sure. There was a Michael Crichton book were he discusses attitudes to mixed race persons, but that could be biased. It just doesn't surprise me. What I would expect so I bought it.
Something vaguely related, have you guys ever heard of the Elephantine Papayri? These are a collection of Aramaic papyri from the Egyptian Nile island of elephantine, near aswan, dating from the fifth century BC. Fascinatingly, they contain no mention of the figures from the Old Testament, no evidence of dietary restrictions, and the Jews still worshiped a polytheistic pantheon, and Yahweh still had his female other half! The Jews had Egyptian names with no Davids solomons, etc.
Old Testament Judaism appears to have started in the Hellenistic period.
"it is a mistake to identify the Jewish people with the Jewish religion, because the Jews existed as a people before the exodus and the legislation of Sinai … the vast majority of Jews today no longer believe in the Jewish religion, including Hazony's fellow Israelis, but they somehow remain Jews. To my eyes, the Jewish religion is just a phase that the Jewish people went through in their long history."
Great rhetoric right here. I'm an Israeli and this perfect ammo against the (rather oppressive) orthodox community here. Great article as per usual, thank you!
"…the Jewish religion is just a phase that the Jewish people went through in their long history…"
That "phase" is quite necessary to maintain their ethnic identity, especially in the Diaspora where the danger of assimilation always exists. In the Diaspora secular Jews tend to assimilate and thus lose their identity. To motivate their ethnic continuity they need a secular Ersatz religion, which they have found in two elements : 1) ethnic paranoia, 2) support for Israel. Ethnic paranoia, the fear of "anti-Semitism" only works if that danger really exists. In countries with no real anti-Semitism such as the US this doesn't work. Support for Israel is seriously damaged by the atrocious behavior of the Jewish state itself, which comes under increasing criticism of American Jews. So what are the secular American Jews going to do to maintain their ethnic identity? Alan Dershowitz wrote a special book about that question ("The Vanishing American Jew").
The situation of Jews in Israel is different. There the continuity of their ethnicity is secured by the state itself. Non-Jewish immigration is not allowed and intermarriage with non-Jews is obstructed by the state and very rare anyway. Secular Israeli Jews will maintain their ethnic identity as much as the religious ones.
Guy Frowney says:
To say that jewish identity is centered around their religion is talmudic pilpul at its finest. The reality is quite the opposite: Their religion is centered around their tribe. That little pretzel twist of logic is what allows jewish nationalists to poke their snouts under the civic nationalist tent while white nationalists are carefully screened out.
"…To say that jewish identity is centered around their religion is talmudic pilpul at its finest. The reality is quite the opposite: Their religion is centered around their tribe…"
Yes, their religion is centered around their tribe, but their identity is centered around that ethnocentric religion, so that is no "Talmudic pilpul". Without that religion they would lose the motivation to maintain their identity, which is clearly shown by the high percentage of intermarriages among secular Jews. In the US no less than 71% of secular Jews intermarry with non-Jews. They will be lost into assimilation. Among the Ultra-Orthodox intermarriage is practically nihil.
Jewish intermarriage is a separate subject, which gets into the universal desirably of white genetic traits among every other race. I would argue that it's a form of genetic upbreeding, subconscious or otherwise. I can almost guarantee that the majority of secular jews who marry outside of their race aren't engaging in the dysgenic interracial couplings that are pushed on whites. They're marrying high-IQ middle- and upper-class whites.
My main point is that the common argument that zionists/jewish nationalists like Harzony constantly put forth (that jewish identity is primarily religious) is a red herring because judaism is less of a religion and more of an ideology centered around jewish exceptionalism–an ancient semitic version of National Socialism with supernatural trappings, in other words. Non-jews like Luke Ford and Ivanka Trump are only allowed into the cult of judaism after swearing fealty to the tribe, and they never become anything other than the jewish version of honorary Aryans (honorary judeans?).
Webster's Talmudism says:
Nicely reasoned and nicely written, Mr. Johnson. Standing alone, this article could introduce open-minded Normies to the principles of White nationalism.
For the rest of us, the only issue is deciding which of our memes best critiques the work of Hazony.
1) Every.Single.Time..meme: Publicly admitting to White Privilege and confessing White shame while more privately claiming Jewish — and not White — identity. This doesn't quite fit because Harzony is up-front with both his Jewishness and his anti-White views, and the latter don't condemn Whites merely for being White. Instead, he denounces any White behavior necessary to maintain a White society.
On the other hand, Harzony's appeal to a shared Biblical past and his supposed support of "Protestant Construction of the West" suggest a friendliness toward Whites that's undercut by his Talmudic redefinition of the word nationalism. So there's some of the two-faced deception one references with the Every.Single.Time. meme.
2) Kosher sandwich meme: Ensuring that any choice — such as Democrat or Republican, pro or anti Muslim,…etc. — results in supporting the same Jewish agenda. So for all you goyim who accept our premise that America is a Proposition Nation, we offer you civic nationalism. For all you goyim who've figured out that civic nationalism is anti-White, we offer you the heroic Harzony as your leader denouncing civic nationalism. Of course, his denunciation of civic nationalism includes a denunciation of ethnic nationalism, so your choice is to support your enemies or denounce yourself.
Perhaps in pretending to oppose civic nationalism while actually promoting a variant of it, Harzony has given us a new meme: (((My Fellow Nationalists))). At the risk of cultural appropriation, I'd call that chutzpah.


Let's go so, and let's begin with the region by many considered the cradle of Italian cuisine: la bella Emilia-Romagna.
In the first part of this article, I let my memories take over and told you a bit about my childhood Christmases and my grandparents. The recipes of the Northern regions of Italy are mostly familiar to me and so are those from Emilia-Romagna, which you will find below. Culinary tradition, though, begins to change once we get to Lazio and our trip takes us South: it will be a bit of a discovery for me, too.
This is the region of filled pasta and salumi, known for the richness, in flavor, ingredients and associations, of its culinary tradition. Christmas is, of course, no exception to this rule. A variety of tortellini, a smaller version of cappelletti, is made for Christmas Eve and Christmas day. Usually, the Eve is a day of "magro" where meat is not consumed, hence its tortellini are usually filled with ricotta and other types of cheeses. Things change dramatically, of course, on Christmas day, when people celebrate with rich, meaty tortellini in brodo di cappone (in a capon broth), filled with mortadella di Bologna, ham, Parmesan and eggs.
Keep in mind that pretty much everywhere in Italy, as you may have noticed already while reading the first part of this article, tortellini, cappelletti and ravioli are served in a broth at Christmas: it is usually capon or hen broth. The birds are then consumed as a meat dish, with sauces and seasonal vegetables. This happens in Emilia-Romagna, too, where boiled capon or hen is often served along with boiled cuts of beef or cotechino. This is also popular in Piemonte.
Ah! Tuscany! The not-so-secret dream location of a very large amount of people all over the world, it is a delight at Christmas time, too. Not only its beautiful towns become, if possible, even more charming, but the food– oh, the food!– is just the perfect completion to this fabulous time of the year. Tuscan people enjoy earthy starters such as crostini ai fegatini (roasted bread with fried livers) and truffle based antipasti, such as carpaccio al tartufo. Roasted capon is a popular meat dish, just as stuffed turkey is. A typical Tuscan stuffing is usually made with ham, roasted chestnuts, bread, cream, salt and pepper. Popular is also roasted guinea fowl.
Dessert is often a delicious panforte of Siena.
Le Marche's people rejoice on Christmas day before a delicious plate of cappelletti in brodo di cappone and a meat dish of roasted capon with truffles. Once again, capon proves to be a favorite Italian Christmas meat, regardless of the region. Typical of Le Marche are the vincisgrassi, a Marchigian variation of lasagne, with added egg, prosciutto and mushrooms. A delicious pizza di Natale (yes, you read that right, a "Christmas pizza") completes the feast: this is a heartwarming dessert, made of bread dough filled with candied fruit, nuts, figs and cocoa.
In Abruzzo, tastes and traditions begin to change and turn more towards south. Gone is the capon and the tortellini, in are a delicate, yet flavorsome minestra di cardi, chard soup, made with white chard, chicken broth, meat and eggs, and the lu rintrocilio, homemade pasta with a tomato and mutton sauce. Meat is poultry, usually turkey in broth. Typical desserts are fried parcels of dough, filled with black grape jam and nuts, called calgionetti fritti.
Historically, Umbria has a lot of to do with the traditional idea of an Italian Christmas, as it was here, thanks to the will of St Francis, that the first presepe was created. Umbria is also one of the best-known areas of Italy when it comes to food and culinary expertise, and its traditional Christmas dishes are no exception.
A favorite main pasta dish is, once again, cappelletti in brodo di cappone, often made with a capon filling, too. Capon is also consumed, boiled, as a meat dish, usually with a side of chard. Chard returns on the table of the 25th , just as in Abruzzo. Desserts are baked and heartwarmingly spicy: panpepato, made with nuts, candied oranges, honey, dark chocolate, black peppers and sultanas, pinoccate, a sugary, pinenuts-based type of cookies, and the torciglione, a sweet dough and almonds twisted bread, are traditionally consumed in Umbria during the Christmas festivities.
In Lazio, fish plays an important part at Christmas: we begin to sense here the influence of more traditionally Mediterranean flavors and ingredients, often associated to the southern part of the country. It is usual to start a Christmas meal with bruschette, followed by a tasty soup of arzilla, broccoli e vongole, skate, broccoli and clams. Main dishes are usually clams spaghetti or a broth made with arzilla. A common side dish are carciofi alla Romana, Roman style artichokes, made with Roman mint, olive oil and parsley. Dessert can be a lovely pangiallo, made with dried and candied fruit, mixed with flour, honey and chocolate. Pangiallo is a presidio Slowfood.
Molise is, to many, a little known area of Italy, but it is home to some magnificent Christmas traditions: did you know, for instance, that Italy has her own bagpipes players? Yes, indeed, and they come from Molise: they are called zampognari and their instruments are the zampogne. Do not compare them to Scottish bagpipe players, though. Zampogne and Scottish bagpipes are similar, but not the same at all, as they are constructed differently, in structure and materials.
But let's go back to the kitchen: Molise's Christmas table is filled with earthy flavors and rich ingredients: zuppa di cardi is a popular starter, just as it is in Abruzzo. Baccalà (salted cod) is usually the chosen main, and is prepared in several guises: baccalà arracanato, for instance, is made with garlic, parsley, bread innards, oregano, sultanas, pinenuts and walnuts, whereas the baccalà al forno con verza is made with savoy cabbage, parsley, bread innards and walnuts. Calciuni are a popular dessert that mixes together plenty of ingredients typical of this region: chestnuts, wine, honey, as well as rhum, eggs, vanilla and almonds.
As mentioned while talking about Lazio, and seen in Molise, the more we head South, the more fish becomes central to Christmas cuisine. Puglia is no exception: baccalà is protagonist once again, this time stewed with lambascioni, a wild variety of onion; popular is also lamb with sausage, served with cime di rapa (turnip greens), a typical ingredient in pugliese cuisine. Lasagne and focaccia pugliese, a focaccia made with potatoes and flour, and topped with cherry tomatoes and olives are common. Carteddate and porcedduzzi complete a perfect pugliese Christmas meal: the first are rose-shaped parcels of filo pastry, fried, then dipped in honey or grape (or fig) must. The second are little cubes of dough, deep fried, covered in honey, then placed together on a dish and covered in sprinkles.
Campania, the land of mozzarella di bufala and pizza, of fragrant Amalfi lemons and, of course, of the beautiful, charming Naples. Campania, the land of zampogne and presepi, of good food and tradition, hosts a glorious Christmas when it comes to food, too. Spaghetti with clams and a rich soup made with chicory, egg and veal meat in a capon broth are popular mains. Squid and potatoes and stuffed capon are served along with insalata di rinforzo, while struffoli and rococò are typically chosen to conclude the meal in sweetness. By the way, if you'd like to make struffoli, you can find the recipe by clicking on the link.
The land of the 2019 European Capital of Culture, Matera, is keen on fish as a main on Christmas day: boiled baccalà with peperoni cruschi, sundried peppers, quickly dipped in hot olive oil, is usually anticipated by strascinari al ragù di carne mista, a type of handmade pasta, with a rich meat sauce. On the table, also bread with almonds and deep fried sweet pastries called calzoncelli, filled with chestnuts or chickpeas.
Pasta china is usually Calabria's pasta dish for Christmas day: it is like lasagne, but usually made with a maccheroni-type of pasta, filled with meatballs, spicy salame, provola, caciocavallo and pecorino cheeses. Calabrese cuisine contemplates both fish and meat on the 25th of December: stoccafisso (air dried cod) is cooked with a lovely tomato, onion, olive oil, capers and sultana sauce called ghiotta. Capretto (kid) is cooked with broccoli, black pepper, garlic, laurel and bread crumbs: this is called capretto e vrùocculi nivuri ammullicàti. Quazunielli are sweet parcels of pastry, similar in ingredients to pugliese carteddate, but baked rather than fried.
Our tour through the deliciousness of Italy's traditional Christmas tables has now brought us to the kitchens of Sicily. Hen broth is a popular starter, followed by a world famous Sicilian classic: pasta con le sarde, a traditional dish that has been added to the list of Prodotti agro-alimentari tradizionali Italiani (traditional Italian agriculture and food products or PAT). Sarde are protagonist again for the follow up: stuffed with bread innards, pinenuts, orange peel, laurel and sultanas, they are called sarde a beccafico. One thing: of course, we are talking about fresh sardines here, not the tinned ones!
If you want to truly have a sicilian feast, have your meal with beautiful sicilian wines like a Zibibbo, a Passito di Pantelleria or a Malvasia delle Lipari.
Last, but not certainly least, in our stomach-filling, happiness-inducing trip of Italy is Sardegna. There is more to Sardegna than its beautiful sea: try its glorious food to see what I mean. A true sardinian Christmas meal starts with homemade salumi (sausages and salami) aromatized with finocchietto, wild fennel. A traditional pasta dish is culigones de casu, which are ravioli filled with fresh pecorino, nutmeg, saffron and chard. Culigones are usually dressed with a fresh tomato sauce and more grated pecorino on top. Both agnello and capretto are traditionally consumed, especially roasted with vegetables.
And so it ends this brief, yet hopefully fulfilling voyage in the kitchens of Italy, all getting ready for Christmas. Maybe our shared, little trip inspired you, if you're the one in charge of the Christmas dinner this year. Maybe, it brought back childhood memories, old snapshots of happiness shared with loved ones, especially if you are of Italian descent, or grew up in those parts of the US where Italians are plenty.
Whichever the result, I hope you enjoyed reading these pages as much as I enjoyed writing them. Now, if you will excuse me… I got a little peckish… I think it's time to have a slice of panettone with my coffee!


Five years after their monumental album AM, Arctic Monkeys return with Tranquility Base Hotel & Casino.
The music lives up to the title… a lonely, pensive, vintage vibe threads through each song on the record, easily putting the listener into a virtual 1960's or 1970's hotel lobby with a cocktail in hand. It is certainly a mood-release; layered but reserved in comparison to past releases by the Sheffield, UK quartet.
Quite honestly, it's a bit difficult to find the "Monkeys" in this offering. Tranquility Base Hotel & Casino comes across more as an Alex Turner solo project than an Arctic Monkeys record. There are some fun bass lines (i.e. "Tranquility Hotel Base & Casino", "She Looks Like Fun") and some sparse distorted guitar (i.e. "Golden Trunks", "Four out of Five", "Batphone"), but the usual prominence of Matt Helders' drumming is almost non-existent. The snare drum taps along in the background of almost every track, serving well as part of the rhythm section but offering little in personality. If it wasn't for a few Beatles-esque drum fills, one might assume the band programmed a kick and snare in software and called it a day.
Piano and organ lines are heavy in use and mix, serving as the main instrument throughout. Rock n' Roll has made way for lounge-y jazz, and Alex Turner's vocals show him as more of a crooner than a rock singer… backed by layered harmonies. Turner's lyrical style and sultry voice have always sort of hinted that it might be well suited for that sort of genre anyway.
Where previous Arctic Monkeys albums had their ups and downs; louds and softs; Tranquility Base Hotel & Casino rides comfortably at a 3/10 on the energy scale, every once in a while extending to maybe a 3.8. There is certainly a theme and vibe here, which is pretty cool but it certainly makes this new release something fans will only bother to spin on their turntables once in a while when the mood strikes.
It's also quite short for a five-year absence. Eleven tracks, most of which barely break the three-minute mark.
Bottom Line: Tranquility Base Hotel & Casino is a smooth, jazzy, worthwhile set of difficult-to-remember tunes that perhaps serves best if re-branded as "Alex Turner & The Arctic Monkeys". If you're in the moody mood for some neo-lounge, accompanied by Turner's trademark stream of consciousness narration, then this one is for you. If you'd rather hear a bit of rock n' roll, some innovative guitars, catchy melodies — basically anything else that Arctic Monkeys are known for — you're best off reverting back to your iTunes collection.


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text:
Insights from 22 cyber security experts – part 1
Blog | Community
PeepSec, the world's first free, online summit on the people, culture and social aspects of cyber security, took place between Monday the 11th and Friday 15th of June.
22 expert speakers offered actionable and practical advice on the most pressing issues facing the security industry today. Hundreds of cyber security professionals and enthusiasts joined us, but for those who couldn't make it, here's what you missed on the first three days.
(By the way, you can now get immediate access to all 22 PeepSec talks by simply registering for free here.)
Ben Brabyn, head of the world's most connected tech community, Level39, kicked PeepSec off with an interesting series of thought-provoking and to-the-point opinions. In a chat with Oz Alashe, Ben covered the importance of the human aspect of cyber security and building a culture of security, amongst other things.
Of particular note were Ben's views on what makes so many people indifferent to security and, by extension, how to make security more compelling.
Because so often the person whose conduct causes the problem doesn't immediately see feedback, many people don't take cyber security seriously. Anything you can do to close that feedback loop clearly has a huge contribution to make.
Ben Brabyn, Head of Level39
Chartered Psychologist and Associate Fellow of the British Psychological Society Dr Emma Williams followed Ben, with an expansive discussion largely born from her academic research. Unlike many in the field, Dr Williams' research revolves around the influence of context on security practices. According to Dr Williams, our external environments have a hand in our behaviours – and the right environments can heighten our resilience.
National Security Advisor Janet Williams was third to speak on day one of PeepSec. Perhaps unsurprisingly Janet focused her discussion on the security of nation states, explaining the security of nation states is now largely dependent on the security of UK businesses and organisations.
We can't think, "It'll just hit our own business." An attack could have a knock on effect on the whole of the national infrastructure. That's why the investment in our staff is important. They could have a massive implication.
Janet Williams, National Security Advisor
MD of Priviness Sandy Gilchrist closed day one, with candid advice on data privacy. As the managing director of a consultancy that specialises in helping organisations comply with the General Data Protection Regulations, Sandy's simple and succinct views stripped reams of regulation all the way back to the European Convention on Human Rights, first drafted in 1950.
According to the convention, we all have the right to a private life. Sandy explained that, over the last 68 years, the convention seems to have been overlooked by certain organisations but by developing privacy policies with that simple fact in mind, salvation is possible and probable.
We don't actually need legislation to say to people what they can do. If you can change the culture of an organisation to make people think about how they'd like their data to be used, it makes a huge difference.
Sandy Gilchrist, MD of Priviness
PeepSec day two opened with an interview with author, academic and public speaker Professor Adam Joinson. Professor Joinson again offered advice on security from a different slant: this time centring the conversation on systems design.
It's easy to blame users for poor security practices, believes Professor Joinson, but should we also be thinking about those designing insecure systems in the first place?
Professor Joinson argues convincingly that those designing systems are in a unique position to have a disproportionately positive effect on cyber resilience – and yet, frequently, their impact is harmful.
If you drive a car and the brakes don't work, that's not your responsibility. And yet, at the moment, the people who are bearing the cost of insecure systems are the end users or organisations.
Professor Adam Joinson
The Metropolitan Police's Andrew Gould followed Professor Joinson and discussed the public value of good cyber security. Andrew is on a mission to increase engagement in cyber security for societal wellbeing, and discussed several interesting and novel ways of doing so.
Domain name registrar Nominet UK's Cath Goulding then followed Andrew. In her interview with Oz Alashe, Cath talked through creating a culture of cyber security by getting the board engaged, before moving on to the dangers of selling-in security through fear.
You've got to start at the top. You've got to get leaders engaged. I'd love to see better metrics in the space. CFOs have numbers to show how well or how badly an organisation is doing. It'd be really good for the security profession to do the same.
Cath Goulding, Head of IT Security, Nominet UK
Dr Ioannis Agrafiotis of the University of Oxford ended day two, passionately arguing for greater collaboration amongst the security industry.
Dr Agrafiotis claimed our connected world has given us an opportunity that's potentially too great to pass up and, if we could all admit we all have security issues, we may be better positioned to tackle them.
The Bank of England's John Scott began PeepSec day three with a considered talk on people being our greatest defence. As with other talks, John offered novel advice on getting people engaged with security – this time by using nudge theory. Interestingly, John talked through a risk-based approach to cyber security, in which each security risk is considered. Some risks are worth taking, John admits, but at the moment too many of us are taking risks without thinking.
KPMG's Caroline Rivett followed John, with a well-rounded talk that touched on everything from the security industry's sub-optimal communication to achieving the ever-elusive culture of security so many CISOs desire. Caroline tied her discussion together by showing how the two were interrelated, offering a valuable lesson to all those in security.
Danielle Kingsbury, Founder and President of CyberSecPsych, was next on the bill. Alongside its focus on psychology, Danielle's talk was characterised by how we might be able to help more people learn and develop cyber security skills, and where we may currently be going wrong.
We each have a particular way of analysing information and being able to address those different learning styles is going to be essential for us to address the cyber issue.
Danielle Kingsbury, Founder and President of CyberSecPsych
Day three came to a close with an energetic talk from Mark Milton, Founder and CEO of Amberlight. After warning against an over-reliance on awareness training, Mark discussed making security a benefit by using it to optimise business processes. Often, security is seen as an added frustration.
Mark discussed the value of security policies that help people achieve their goals – and how such policies can be developed.
Often, security teams aim to secure a business process assumed to be already optimised. Frequently, it's not. If you involve users in the conversation, you can look at optimising process and making sure secure behaviours are the default.
Mark Milton, Founder & CEO of Amberlight
If you didn't get a chance to attend PeepSec you can get immediate access to all 22 PeepSec talks by registering for free here.
[TEISS2020] Panel discussion
The ways that your security awareness programme is failing, and what you should do about it.
[IMPACT2020] Laura Shipp – How private is your period?
Menstrual apps track intimate personal data, including data on people's reproductive cycles, sex lives and overall...
[PEEPSEC] Professor David Carroll, Associate Professor of Media Design at Parsons School of Design
Oz Alashe and Sam Oliver of CybSafe chat to Associate Professor of Media Design David Carroll. The trio discuss data...


Wednesday we will have Pot Roast, grab it unbaked to bake later! For dessert we will This girl runs on butter and bacon #keto shirt.
Wednesday we will have Pot Roast, grab it unbaked to bake later! For dessert we will This girl runs on butter and bacon #keto shirt. Thursday we have hand pies and these make the best neighbor gifts! We'll even wrap them up for ya! Our flavors this week are Chocolate Peppermint, Lemon and Mixed Berry. Thanks everyone for your patience while we got the Christmas menu out. We ran into some technical difficulties and then were snuggling a little girl who had her tonsils out. We are so excited to see you! Hopefully we can make your week easier! I forgot to order and you're out of chicken pot pies. Will you be bringing any extra to Murray tomorrow? If so, remind me the time you will be there.
I was buying peanut butter at Kroger right, when I was approached by an elderly woman. She began to explain This girl runs on butter and bacon #keto shirt, peanut butter, and bacon bits. Then naturally as many of us do, went on a tangent about the Renaissance Festival and many other discoveries she has made in the last few years. Until finally, she recommended to me an event that she had been going to for years. And to her surprise, I laughed and replied that yes, I know who they are and that I was actually a part of those guys. She went on and on about how much she loved us and how she's never missed a show since she saw us.