This week-end I have the great honor and pleasure of driving to Raleigh to speak at the North Carolina Accounting Education Forum. There is nothing I enjoy more than speaking with a group of teachers about education—what works, what doesn’t work and how we can go about making a difference in the lives of our students.
This morning I had a wake up warning about my presentation. As I ate my Special K, I read the comic strip Dilbert. In it, Dilbert is talking with the garbage man and he asks this very pertinent question: “Wise Garbage Man, why are Power Point slides so boring?”
Well, that question certainly gets right to the point.
Now, if you have followed this blog for long, you have heard me fuss about the use of Power Point in a college classroom. My main argument is that the slides encourage the students’ strong tendency to copy and memorize. Okay, I already know all the justifications for using Power Point. But, if we are going to be truthful, the number one reason that teachers like to use these slides is that it makes teaching easier—not better but certainly easier. Power Point reduces preparation time significantly. Instead of planning out and writing an outline, you simply follow along with the slides. They can save a huge amount of time. And, in 2011, most teachers don’t have enough time.
Well, we’ve well established that I am a critic. However, this Saturday, when I speak in North Carolina (to a bunch of teachers), I will be using Power Point slides. Yes, I confess. In fact, I have 56 slides and I hope to get through quite a number of them. I justify this heresy in my own mind because it is difficult to walk into a room with 50 people you don’t know and get a conversation going quickly.
But Dilbert’s question (“why are Power Point slides so boring?”) got me to thinking: how can a teacher make good use of the advantages of Power Point without boring people to death and without encouraging copying and memorizing?
Here are my two suggestions for using Power Point. And, I actually worked on both of these myself this morning immediately after reading Dilbert.
1 – Never have more than 10 words on a slide. If you limit yourself to 10 words or less, the slide is a prompt and not a crutch. Make that an absolute rule. If you put more than 10 words on a slide, both teacher and student wind up reading. I think we stopped having class readings in the 2nd grade.
2 – On as many slides as possible, ask a question. Questions are always good – so use the Power Point slides to put out the questions you want students to consider.
If you follow both of these rules, I think you will find that Power Point really does provide a great class. Students get away from reading the slide and get into the thinking that you really want them to do. It is not Power Point slides that I am against; it is the use that is too often made of them in our college classrooms today.
Hopefully, it will work for me on Saturday in Raleigh.
PS - If you would like to get a copy of the slides that I use at the presentation in Raleigh, drop me a note at Jhoyle@richmond.edu
Wednesday, 28 September 2011
Wednesday, 14 September 2011
Who Are YOU?
As we start a new semester, I think it is an important idea to stop and think about who we are as teachers. The word "teacher" can mean a lot of things -- as a teacher, who do you really want to be? Below is an essay from my teaching tips book that talks about making that determination. I've always thought it was helpful to actually know who you wanted to be.
**
As a teacher, I think it is important to have a clear self-concept of your own “teaching personality.” Who are you? Maybe more to the point, who do you really want to be at key moments? Do you have what I occasionally refer to as a “personality role model?”
That term does not allude to a teacher whom you have known, as in the preliminar exercise at the start of this book, but an actual role model for your teaching style. For example, when making presentations to fellow educators, I often distribute a list of names such as the following and ask the participants to select the one individual with whom they most closely identify when it comes to their teaching personality. Or, better still, if none of these names suits them, they can come up with a personal choice. This can provide excellent insight as they tread the steps of their teaching journey. So, with whom do you identify as an educator?
---Attila the Hun – a cruel but victorious warrior
---Billy Graham – a fiery orator who shows Heaven and Hell to his listeners
---Dr. Dolittle – a learned man who talks to the animals every day
---Dr. Jekyll and Mr. Hyde – a person with multiple personalities, some good and some
evil
---Florence Nightingale – a person dedicated to healing the afflicted
---General Patton – a dynamic, charismatic soldier and leader
---Gil Favor – on the 1960s television series “Rawhide,” he was the trail boss who was in charge of moving the cattle to market
---Jay Leno – a comedian who keeps his audience constantly entertained
---Leonard Bernstein – a conductor who brings the entire orchestra together to make beautiful music
---Martin Luther King Jr. – a leader who truly made a difference in society as we know it
---Meryl Streep – a talented actress, always playing different roles
---Moses – the man who led the children of Israel out of the wilderness
---Mother Teresa – a saintly person who cared deeply about every individual, especially the afflicted
---Mr. Wizard – in early television, a character who seemed to have the answer to every possible question
---Santa Claus – a kindly fellow who gives out gifts to good boys and girls
---Socrates – a wise person who guides students to understanding by means of questions
---The Marquis de Sade – a sadist who enjoyed the pain of others
---Vince Lombardi – a championship football coach known for motivating his players to
do their best
Most people who have been students in college can probably recollect certain of these characters as being among their own teachers. I know, for certain, that my education included a Mr. Wizard and a Jay Leno, not to mention a couple versions of Dr. Jekyll and Mr. Hyde. I only wish that I had experienced a Santa Claus or, perhaps, a Mother Teresa.
With whom do you identify? I feel that being a teacher becomes a bit more directed when a person has a personality role model. For me, that one individual has always been Vince Lombardi. During his years as the football coach of the Green Bay Packers, his teams seemed to win the championship game virtually every year. He was probably best known for taking average players and turning them into winners. This concept greatly appeals to me: working with average people to achieve outstanding
results. One of Lombardi’s quotes has often guided me both personally and in the manner in which I interact with my students: “A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done.” That seems to be excellent advice for both teacher and student.
Over the years of my teaching career, there have been a seemingly infinite number of times when I have been thoroughly stuck as to what action to take when faced with a troubling situation. After running out of easy options, I inevitably scratch my head and ask myself: “Wonder what Vince Lombardi would do in this case?” In all honesty, I do not always follow the path to resolution that he probably would have taken. However, simply framing the question in this manner helps me organize and direct my often scattered thinking. The real question, of course, is: What action is really appropriate for me here? Even as I near age 60, I think it is great to have role model to provide guidance.
The Vince Lombardi personality model has guided my teaching in other ways. For example, he never seemed to over-emphasize individual games during the season but,rather, focused on winning championships at the end of the year. Likewise, I attempt to keep my eye directed toward the desired end-results. As much as possible, my concentration is solely on the potential positive changes that can be engendered in my students by the conclusion of the term. How will a particular action today impact their overall long-term development? I have never been much interested in short-term results but, rather, my priority is in maximizing the amount of progress achieved by each student from the beginning of the semester to the end.
But the goal here is not to follow me. Consider your own personality and teaching style. Everyone is unique. Are you more like General Patton or Florence Nightingale when you slip into your “teacher mode?” Had they been educators, those two would have probably approached their classes with widely different tactics and strategies. Yet, my guess is that each would have achieved significant success.
I often tell my students that “nothing in this class ever happens by accident.” Good
teaching is not a random series of unfortunate events; it is a logically thought-out process based on the teacher’s vision of education. Having a personality role model can help guide the design and creation of the structure that anchors your classes. The essential question comes back to: Who do you really want to be when it comes to orchestrating the education of your students?
**
As a teacher, I think it is important to have a clear self-concept of your own “teaching personality.” Who are you? Maybe more to the point, who do you really want to be at key moments? Do you have what I occasionally refer to as a “personality role model?”
That term does not allude to a teacher whom you have known, as in the preliminar exercise at the start of this book, but an actual role model for your teaching style. For example, when making presentations to fellow educators, I often distribute a list of names such as the following and ask the participants to select the one individual with whom they most closely identify when it comes to their teaching personality. Or, better still, if none of these names suits them, they can come up with a personal choice. This can provide excellent insight as they tread the steps of their teaching journey. So, with whom do you identify as an educator?
---Attila the Hun – a cruel but victorious warrior
---Billy Graham – a fiery orator who shows Heaven and Hell to his listeners
---Dr. Dolittle – a learned man who talks to the animals every day
---Dr. Jekyll and Mr. Hyde – a person with multiple personalities, some good and some
evil
---Florence Nightingale – a person dedicated to healing the afflicted
---General Patton – a dynamic, charismatic soldier and leader
---Gil Favor – on the 1960s television series “Rawhide,” he was the trail boss who was in charge of moving the cattle to market
---Jay Leno – a comedian who keeps his audience constantly entertained
---Leonard Bernstein – a conductor who brings the entire orchestra together to make beautiful music
---Martin Luther King Jr. – a leader who truly made a difference in society as we know it
---Meryl Streep – a talented actress, always playing different roles
---Moses – the man who led the children of Israel out of the wilderness
---Mother Teresa – a saintly person who cared deeply about every individual, especially the afflicted
---Mr. Wizard – in early television, a character who seemed to have the answer to every possible question
---Santa Claus – a kindly fellow who gives out gifts to good boys and girls
---Socrates – a wise person who guides students to understanding by means of questions
---The Marquis de Sade – a sadist who enjoyed the pain of others
---Vince Lombardi – a championship football coach known for motivating his players to
do their best
Most people who have been students in college can probably recollect certain of these characters as being among their own teachers. I know, for certain, that my education included a Mr. Wizard and a Jay Leno, not to mention a couple versions of Dr. Jekyll and Mr. Hyde. I only wish that I had experienced a Santa Claus or, perhaps, a Mother Teresa.
With whom do you identify? I feel that being a teacher becomes a bit more directed when a person has a personality role model. For me, that one individual has always been Vince Lombardi. During his years as the football coach of the Green Bay Packers, his teams seemed to win the championship game virtually every year. He was probably best known for taking average players and turning them into winners. This concept greatly appeals to me: working with average people to achieve outstanding
results. One of Lombardi’s quotes has often guided me both personally and in the manner in which I interact with my students: “A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done.” That seems to be excellent advice for both teacher and student.
Over the years of my teaching career, there have been a seemingly infinite number of times when I have been thoroughly stuck as to what action to take when faced with a troubling situation. After running out of easy options, I inevitably scratch my head and ask myself: “Wonder what Vince Lombardi would do in this case?” In all honesty, I do not always follow the path to resolution that he probably would have taken. However, simply framing the question in this manner helps me organize and direct my often scattered thinking. The real question, of course, is: What action is really appropriate for me here? Even as I near age 60, I think it is great to have role model to provide guidance.
The Vince Lombardi personality model has guided my teaching in other ways. For example, he never seemed to over-emphasize individual games during the season but,rather, focused on winning championships at the end of the year. Likewise, I attempt to keep my eye directed toward the desired end-results. As much as possible, my concentration is solely on the potential positive changes that can be engendered in my students by the conclusion of the term. How will a particular action today impact their overall long-term development? I have never been much interested in short-term results but, rather, my priority is in maximizing the amount of progress achieved by each student from the beginning of the semester to the end.
But the goal here is not to follow me. Consider your own personality and teaching style. Everyone is unique. Are you more like General Patton or Florence Nightingale when you slip into your “teacher mode?” Had they been educators, those two would have probably approached their classes with widely different tactics and strategies. Yet, my guess is that each would have achieved significant success.
I often tell my students that “nothing in this class ever happens by accident.” Good
teaching is not a random series of unfortunate events; it is a logically thought-out process based on the teacher’s vision of education. Having a personality role model can help guide the design and creation of the structure that anchors your classes. The essential question comes back to: Who do you really want to be when it comes to orchestrating the education of your students?
Wednesday, 7 September 2011
Open Letter to My Students
If you have followed this blog for long, you probably know that I use the Socratic Method to teach Financial Accounting (sophomores) and Intermediate Accounting (juniors). My students are stunned at first when I start asking them questions. Most of them have never experienced anything like this. My goal is to get them comfortable (but not too comfortable) after the first 2-3 classes.
We have now had 8 classes (we start early). Class is moving along nicely (I think). I really want them to enjoy the give and take of learning. A roller coaster will scare you to death the first time you ride it but about the third time “scary” becomes “fun.” I am not interested in scaring anyone but I do want to help them develop their critical thinking skills. That is rarely easy. So, I like to get them to buy into what we are doing.
I also believe in being totally honest and open with my students as to what I am doing and why. I think they deserve to know the why. After all, it is their life; it is their education. I think we should all talk more with students about what we are doing in class and why. Verbalizing the goals can be helpful to you as well as to them.
Therefore, after class today, I sent the following email to my students just to explain what I was doing.
“I often have students ask me why I teach so differently. I could have explained this on Day One but you wouldn’t have understood. For the first 20 years of my career, I was a lecturer and I was good at it. I was as good at teaching copying and memorizing as a person could possibly be.
“And I was very disillusioned – I was ready to quit and go get a real job and make a lot of money. If that was teaching, I wasn’t interested. That wasn’t how I wanted to spend my life. I wasn’t changing anyone in the way I wanted.
“Two things happened that changed me. People can change. That alone is something to remember.
“The Youtube video below is one of the two things that changed me – it comes from a movie of that time. My guess is that a lot of students would watch this video and claim that it demonstrates cruel and unusual punishment (I have a friend here at Richmond who believes that). Hopefully, you’ll have a different view of it. Three things to pay special attention to as you watch.
***First, at about the 3:35 mark, the teacher talks about what he is doing. I wish I could have said it that well.
***Second, it’s all about preparation and thinking. That’s it; there are no short cuts. You either prepare to learn or you don’t learn.
***Third, compare “Mister Hart” at the beginning to “Mister Hart” at the end. That class has changed him and made him a smarter, more confident, much better educated person. That is a class worth having. That’s a learning experience that is worth doing.
“That is exactly what I want for each of you. I promise you that I never call on you where I’m not trying to get you to the point that he experiences at the end of this video. 50 minutes per class – that is the goal."
http://www.youtube.com/watch?v=pHV2n4o6J2I&feature=related
We have now had 8 classes (we start early). Class is moving along nicely (I think). I really want them to enjoy the give and take of learning. A roller coaster will scare you to death the first time you ride it but about the third time “scary” becomes “fun.” I am not interested in scaring anyone but I do want to help them develop their critical thinking skills. That is rarely easy. So, I like to get them to buy into what we are doing.
I also believe in being totally honest and open with my students as to what I am doing and why. I think they deserve to know the why. After all, it is their life; it is their education. I think we should all talk more with students about what we are doing in class and why. Verbalizing the goals can be helpful to you as well as to them.
Therefore, after class today, I sent the following email to my students just to explain what I was doing.
“I often have students ask me why I teach so differently. I could have explained this on Day One but you wouldn’t have understood. For the first 20 years of my career, I was a lecturer and I was good at it. I was as good at teaching copying and memorizing as a person could possibly be.
“And I was very disillusioned – I was ready to quit and go get a real job and make a lot of money. If that was teaching, I wasn’t interested. That wasn’t how I wanted to spend my life. I wasn’t changing anyone in the way I wanted.
“Two things happened that changed me. People can change. That alone is something to remember.
“The Youtube video below is one of the two things that changed me – it comes from a movie of that time. My guess is that a lot of students would watch this video and claim that it demonstrates cruel and unusual punishment (I have a friend here at Richmond who believes that). Hopefully, you’ll have a different view of it. Three things to pay special attention to as you watch.
***First, at about the 3:35 mark, the teacher talks about what he is doing. I wish I could have said it that well.
***Second, it’s all about preparation and thinking. That’s it; there are no short cuts. You either prepare to learn or you don’t learn.
***Third, compare “Mister Hart” at the beginning to “Mister Hart” at the end. That class has changed him and made him a smarter, more confident, much better educated person. That is a class worth having. That’s a learning experience that is worth doing.
“That is exactly what I want for each of you. I promise you that I never call on you where I’m not trying to get you to the point that he experiences at the end of this video. 50 minutes per class – that is the goal."
http://www.youtube.com/watch?v=pHV2n4o6J2I&feature=related
Friday, 2 September 2011
An Idea from My Boss
If you read much about education, you will quickly see many of the same general ideas suggested over and over as beneficial. “Create teams” is one that many experts recommend. “Use the last few minutes of class to review and tie concepts together” is another. “Stress peer education – encourage students to teach each other” is a third that I often read. “End your class with a positive experience” is also common advice.
However, one of the problems of teaching is that turning general ideas into practical classroom activities is often harder than it sounds.
My boss here at the Robins School of Business is Dean Nancy Bagranoff. For the first time in a few years, Dean Bagranoff is teaching a class this semester. She has an “Introduction to Financial Accounting” section every Tuesday and Thursday morning with about 25 sophomores.
Because she has been out of the classroom for a while, Dean Bagranoff and I have been having a few conversations about teaching and how to help students learn. As is often the case, I’m probably learning more from these conversations than she is.
Recently, she described an idea that she uses in her classes. It was one of those epiphanies I love to have. As soon as she described the idea to me, I knew that it ought to work quite well in virtually any class. I’m a strong advocate that we need to pass along excellent teaching ideas so that they get wide exposure. So, here goes.
--Occasionally, with about 10-15 minutes left in the class period, hand out a short quiz with questions covering the current class material. Give each student 6-7 minutes to provide answers and then take up those answers.
--Immediately, pass out the exact same quiz questions again and put the students into teams of 2-3. Each team has to come to a consensus answer for every question. After a few minutes, take up only one answer sheet from each team.
--Half of the quiz grade comes from the individual answers. Half of the quiz grade comes from the group answers.
--Each time you do this end-of-class exercise place the students into different teams.
There are so many good things about this assignment that I am not sure where to begin.
--Students are rewarded for their own personal learning because their individual quizzes count as half of the grade. No one can just coast on the work of a teammate.
--Students must operate as a team and help each other learn in order to come up with their group’s answers. The members of the team have to arrive at a consensus answer. If one student believes the answer is True and the other believes it is False, they have to work as a team to arrive at one answer.
--The students who do poorly on the individual quizzes don't just walk out of class feeling stupid. They have the chance to improve their grade in the group exercise and will probably be very engaged.
--Because the group answers will hopefully be better than the individual answers (two heads should be better than one), students leave the class with a positive feeling--toward the class and toward themselves. There is a lot of “ah, now I see what is happening here.”
--The quizzes serve as an overview of what was covered that day. The quizzes provide an end-of-class review for that day’s class.
Whether you are teaching anthropology or zoology or anything in between, this is an exercise that should prove to be beneficial. Try it.
Even bosses can have good ideas.
**
A quick personal note – three days ago this blog site went over 37,500 page views since it started early in 2010. I just want to thank everyone who has mentioned this blog over the past 20 months to friends, relatives, acquaintances, coworkers, bosses, enemies, and total strangers. Without having your help in spreading the word, my guess is that no one would have ever seen this blog. Thanks! Truly!
However, one of the problems of teaching is that turning general ideas into practical classroom activities is often harder than it sounds.
My boss here at the Robins School of Business is Dean Nancy Bagranoff. For the first time in a few years, Dean Bagranoff is teaching a class this semester. She has an “Introduction to Financial Accounting” section every Tuesday and Thursday morning with about 25 sophomores.
Because she has been out of the classroom for a while, Dean Bagranoff and I have been having a few conversations about teaching and how to help students learn. As is often the case, I’m probably learning more from these conversations than she is.
Recently, she described an idea that she uses in her classes. It was one of those epiphanies I love to have. As soon as she described the idea to me, I knew that it ought to work quite well in virtually any class. I’m a strong advocate that we need to pass along excellent teaching ideas so that they get wide exposure. So, here goes.
--Occasionally, with about 10-15 minutes left in the class period, hand out a short quiz with questions covering the current class material. Give each student 6-7 minutes to provide answers and then take up those answers.
--Immediately, pass out the exact same quiz questions again and put the students into teams of 2-3. Each team has to come to a consensus answer for every question. After a few minutes, take up only one answer sheet from each team.
--Half of the quiz grade comes from the individual answers. Half of the quiz grade comes from the group answers.
--Each time you do this end-of-class exercise place the students into different teams.
There are so many good things about this assignment that I am not sure where to begin.
--Students are rewarded for their own personal learning because their individual quizzes count as half of the grade. No one can just coast on the work of a teammate.
--Students must operate as a team and help each other learn in order to come up with their group’s answers. The members of the team have to arrive at a consensus answer. If one student believes the answer is True and the other believes it is False, they have to work as a team to arrive at one answer.
--The students who do poorly on the individual quizzes don't just walk out of class feeling stupid. They have the chance to improve their grade in the group exercise and will probably be very engaged.
--Because the group answers will hopefully be better than the individual answers (two heads should be better than one), students leave the class with a positive feeling--toward the class and toward themselves. There is a lot of “ah, now I see what is happening here.”
--The quizzes serve as an overview of what was covered that day. The quizzes provide an end-of-class review for that day’s class.
Whether you are teaching anthropology or zoology or anything in between, this is an exercise that should prove to be beneficial. Try it.
Even bosses can have good ideas.
**
A quick personal note – three days ago this blog site went over 37,500 page views since it started early in 2010. I just want to thank everyone who has mentioned this blog over the past 20 months to friends, relatives, acquaintances, coworkers, bosses, enemies, and total strangers. Without having your help in spreading the word, my guess is that no one would have ever seen this blog. Thanks! Truly!
Thursday, 25 August 2011
The Buffett Bailout
For those who haven't seen it already, Berkshire Hathaway agreed to invest $5 billion in Bank of America this morning. The pop in stocks lasted all of 30 minutes.
But I wanted to discuss the last Buffett Bailout - of Goldman and what it may portend. My operating thesis is that WB has morphed into a completely political creature and will only make big, publicized investments for propaganda purposes. That certainly was the case with GS in 2008.
But like any actor, he has to receive something in return for the use of his name and image. That something is a political guarantee for his "investment" and the history of 2008 supports this. Buffett's deal with Goldman was announced before the US market opened on September 23, 2008. But behind the scenes a lot of political moves were being made that he obviously knew about but few others did at the time.
The Fed of course was involved. Over the next few days (through 9/29) they established or increased swaplines with a large number of foreign central banks. In effect they lent out $360 billion to foreign banks. The FDIC closed Wachovia and WaMu - pushing them to merge into the already bloated and insolvent Citibank and JP Morgan respectively. Wells ultimately outbid Citi for Wachovia. The Treasury moved to guarantee all money market funds and the TARP bailout was cooked up as a bill and submitted to the House over the weekend prior to initial rejection on the 29th.
The Bottom Line
My point is this. Last time Buffett was part of a full-court press designed to fool people into investing their earned money right along side his borrowed bank credit. Every lever was pulled by Wall Street and the Government in order to "restore confidence" and as the price of his participation, Buffett was given the privilege of front running virtually every central bank and government policy change.
I expect this time will be no different. The Fed is likely to announce something desperate and stupid tomorrow morning. It will likely be accompanied by something out of the Treasury and/or FDIC shortly thereafter if the Fed move proves insufficient to pump asset prices higher and bail out Warren after he stuck his neck out financially for favorable propaganda effect.
Of course the bad news if you're a bull is that it didn't work in 2008 despite truly extreme measures. Stocks, after a short sharp bounce continued to fall for another 6 months and housing prices merely rebounded slightly before resuming their decline. In 2008, stocks had already been falling for a year and had nearly been cut in half before they got that desperate. This time, we are 3.5 months past the rebound high and six weeks from the secondary peak. We are also only 15% off those highs - not 45% like in 2008.
There is probably a trading opportunity on the long side for the next week or two but I'm not going to get greedy or stupid. History indicates that Buffett is likely front-running SOMETHING here. But it sure as hell isn't fundamentals.
But I wanted to discuss the last Buffett Bailout - of Goldman and what it may portend. My operating thesis is that WB has morphed into a completely political creature and will only make big, publicized investments for propaganda purposes. That certainly was the case with GS in 2008.
But like any actor, he has to receive something in return for the use of his name and image. That something is a political guarantee for his "investment" and the history of 2008 supports this. Buffett's deal with Goldman was announced before the US market opened on September 23, 2008. But behind the scenes a lot of political moves were being made that he obviously knew about but few others did at the time.
The Fed of course was involved. Over the next few days (through 9/29) they established or increased swaplines with a large number of foreign central banks. In effect they lent out $360 billion to foreign banks. The FDIC closed Wachovia and WaMu - pushing them to merge into the already bloated and insolvent Citibank and JP Morgan respectively. Wells ultimately outbid Citi for Wachovia. The Treasury moved to guarantee all money market funds and the TARP bailout was cooked up as a bill and submitted to the House over the weekend prior to initial rejection on the 29th.
The Bottom Line
My point is this. Last time Buffett was part of a full-court press designed to fool people into investing their earned money right along side his borrowed bank credit. Every lever was pulled by Wall Street and the Government in order to "restore confidence" and as the price of his participation, Buffett was given the privilege of front running virtually every central bank and government policy change.
I expect this time will be no different. The Fed is likely to announce something desperate and stupid tomorrow morning. It will likely be accompanied by something out of the Treasury and/or FDIC shortly thereafter if the Fed move proves insufficient to pump asset prices higher and bail out Warren after he stuck his neck out financially for favorable propaganda effect.
Of course the bad news if you're a bull is that it didn't work in 2008 despite truly extreme measures. Stocks, after a short sharp bounce continued to fall for another 6 months and housing prices merely rebounded slightly before resuming their decline. In 2008, stocks had already been falling for a year and had nearly been cut in half before they got that desperate. This time, we are 3.5 months past the rebound high and six weeks from the secondary peak. We are also only 15% off those highs - not 45% like in 2008.
There is probably a trading opportunity on the long side for the next week or two but I'm not going to get greedy or stupid. History indicates that Buffett is likely front-running SOMETHING here. But it sure as hell isn't fundamentals.
Addressing Bad Habits
A lot of your college students have been students for most of their lives. They have been trained by all of the teachers who came before you. Unfortunately, the students have not always been well-trained. They pick up bad habits. And, they don’t even realize they have those bad habits.
So, on my first day of class (this past Monday), I tried to alert my students that I wanted something very specific from them and what I wanted might just be different from what previous teachers had wanted. No matter how successful they had been in the past, they needed to realize that they might have to adapt.
“Here’s exactly what I want from you this semester. I want you to get to a point where you can be presented with a fresh and unique situation and then figure out how to respond or act based on what we’ve learned previously or what you have uncovered in your studies. It seems so simple: (a) fresh situation, (b) figure it out, (c) based on what we have learned or you’ve found. However, most students have been brought up in an educational system that often rewards a ‘copy and memorize’ mentality. I have students with 4.00 GPA’s who become very frustrated with me because they copy down every word in class and memorize them all and then cannot figure stuff out on a test and do poorly. They are frustrated because copy and memorize has worked so well for them in the past. And, maybe, in the 4th grade, that was appropriate. But, this is a college education.
“Students who stress copy and memorize often prepare too little for class. Why prepare if you are just going to write everything down? They want to learn by following along. They come to class a blank slate—ready to be inscribed. I don’t think that’s what a college education should be. You’ll be in the ‘real world’ in another 18 months. Nothing in the real world as far as I know is copy and memorize so I see no reason for my class to be that.
“If I am going to give you a completely fresh situation to figure out on a test, then I need to help you learn how to do that before the test. That’s only fair. So, every day I’ll try to present you with some new stuff and we’ll try to reason it out together based on your preparation and what we have already learned. In fact, if we are successful, you’ll get pretty darn good at this before the end of the semester and you’ll wonder why you ever copied stuff down for memorization purposes.
“But, you have to be willing to walk into class very prepared and you have to be willing to try to use what we have studied to come up with viable solutions. 'Figure it out' are my three favorite words in education. You can’t tell me ‘this makes my brain hurt.’ You can’t beg ‘just give me the answers.’ In fact, most of the time, there are no ultimate answers. Most of the time, you and I (hopefully, mostly you) will be coming up with logical and reasonable possibilities.
“To me, that’s what a college education should be.”
Sunday, 21 August 2011
What the Catcher Tells the Pitcher
Occasionally, when I am driving home from work, I’m able to listen to a show called “Fresh Air” which is on NPR (National Public Radio). In it, Terry Gross (or an associate) will interview some interesting person. The discussions are often fabulous.
One day last week, I was able to listen to the show for just 4-5 minutes but, during that time, I heard something that really caught my attention. I have thought a lot about what I heard ever since that time and pondered its connection with my dealings with students. The person being interviewed was Brad Ausmus who retired recently as a catcher in baseball. He played in the major leagues for 18 years and is 7th on the all-time list for the number of games caught by one person.
If you follow baseball at all, you know that occasionally (especially when things are going badly) the catcher runs out to the mound for a quick talk with the pitcher. Probably like every other baseball fan, I’ve always wondered what the catcher can possibly be saying. Well, the person doing the interview on Fresh Air asked that specific question: “When you go out to talk with the pitcher, what do you tell him?”
Unfortunately, I was driving in my car so I couldn’t write down the words verbatim but here is the gist of what Ausmus said. “I always had only one goal in mind when I went out to talk with the pitcher. When I left him, I wanted the pitcher to absolutely believe that he was capable of getting out of the situation that he was facing. If he didn’t believe he was capable of taking care of the problem, we didn’t have much chance.”
What a fascinating lesson: I only had one goal. When I left him, I wanted him to believe that he was capable of getting out of the problem.
No wonder the guy stayed in the major leagues for 18 years.
We talk with our students all the time. Often, they have a problem – they have failed a test or they don’t understand what’s been covered or they have been lazy or busy and fallen behind. Frequently, it is their fault entirely.
It is easy to get really frustrated with students. There are times when I want to look into the student’s eyes and say “you messed up. This is all your fault. You’re an adult; let’s see how you get yourself out of this problem.”
That might well make me feel good (maybe we are all a bit sadistic) but I’m paid to teach students not to put them in their place. I didn’t become a teacher to berate young people for the mistakes they make. I became a teacher to help them succeed – not half of them, all of them. Over the years, I’ve talked with hundreds of teachers. One thing I have noticed is that, if you are not careful, it is easy for teachers to get into an “us versus them” mentality. “Students are lazy.” “Students have to be told everything.” “Students will cheat if you don’t watch them every second.” But in teaching, we are all on the same team. The catcher may be really upset at the pitcher but he still wants the pitcher to do well and win.
As a new semester begins, I’m going to try to be a bit more like Ausmus. When I talk with students, I’m going to think of them as pitchers and me as the catcher trying to get them back on top of their game so we can both win.
When students come to me with issues/challenges/problems, I’m going to attempt to (a) define the problem so we all understand, (b) tell them how I think they can and should resolve the problem, and (c) make sure they believe they are capable of fixing the problem. When they walk out of my office, I want them to believe they are capable of solving the problem. That certainly doesn’t mean that I’m going to do the work for them. The catcher doesn’t go out and offer to pitch.
In baseball, the goal is so obvious: we want our team to score more runs than the other team. In education, the goal may vary somewhat from person to person but it usually is pretty close to: we want every single student to learn the material and understand how to use that knowledge to have a better and more fulfilled life. When a student gets off the track to that goal, it is our job to show them how to get back on the track and leave them believing that they are capable of doing just that.
One day last week, I was able to listen to the show for just 4-5 minutes but, during that time, I heard something that really caught my attention. I have thought a lot about what I heard ever since that time and pondered its connection with my dealings with students. The person being interviewed was Brad Ausmus who retired recently as a catcher in baseball. He played in the major leagues for 18 years and is 7th on the all-time list for the number of games caught by one person.
If you follow baseball at all, you know that occasionally (especially when things are going badly) the catcher runs out to the mound for a quick talk with the pitcher. Probably like every other baseball fan, I’ve always wondered what the catcher can possibly be saying. Well, the person doing the interview on Fresh Air asked that specific question: “When you go out to talk with the pitcher, what do you tell him?”
Unfortunately, I was driving in my car so I couldn’t write down the words verbatim but here is the gist of what Ausmus said. “I always had only one goal in mind when I went out to talk with the pitcher. When I left him, I wanted the pitcher to absolutely believe that he was capable of getting out of the situation that he was facing. If he didn’t believe he was capable of taking care of the problem, we didn’t have much chance.”
What a fascinating lesson: I only had one goal. When I left him, I wanted him to believe that he was capable of getting out of the problem.
No wonder the guy stayed in the major leagues for 18 years.
We talk with our students all the time. Often, they have a problem – they have failed a test or they don’t understand what’s been covered or they have been lazy or busy and fallen behind. Frequently, it is their fault entirely.
It is easy to get really frustrated with students. There are times when I want to look into the student’s eyes and say “you messed up. This is all your fault. You’re an adult; let’s see how you get yourself out of this problem.”
That might well make me feel good (maybe we are all a bit sadistic) but I’m paid to teach students not to put them in their place. I didn’t become a teacher to berate young people for the mistakes they make. I became a teacher to help them succeed – not half of them, all of them. Over the years, I’ve talked with hundreds of teachers. One thing I have noticed is that, if you are not careful, it is easy for teachers to get into an “us versus them” mentality. “Students are lazy.” “Students have to be told everything.” “Students will cheat if you don’t watch them every second.” But in teaching, we are all on the same team. The catcher may be really upset at the pitcher but he still wants the pitcher to do well and win.
As a new semester begins, I’m going to try to be a bit more like Ausmus. When I talk with students, I’m going to think of them as pitchers and me as the catcher trying to get them back on top of their game so we can both win.
When students come to me with issues/challenges/problems, I’m going to attempt to (a) define the problem so we all understand, (b) tell them how I think they can and should resolve the problem, and (c) make sure they believe they are capable of fixing the problem. When they walk out of my office, I want them to believe they are capable of solving the problem. That certainly doesn’t mean that I’m going to do the work for them. The catcher doesn’t go out and offer to pitch.
In baseball, the goal is so obvious: we want our team to score more runs than the other team. In education, the goal may vary somewhat from person to person but it usually is pretty close to: we want every single student to learn the material and understand how to use that knowledge to have a better and more fulfilled life. When a student gets off the track to that goal, it is our job to show them how to get back on the track and leave them believing that they are capable of doing just that.
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