Live Free Or Die

Here is the blog roll:

• http://unhedgedmba.blogspot.com/
• http://blog.accepted.com/
• http://blog.clearadmit.com/

Forum Links:

• http://gmatclub.com/forum/the-b-school-application-103/
• http://forums.businessweek.com/n/pfx/forum.aspx?folderId=1&listMode=13&nav=messages&webtag=bw-bschools

Suggested Reading List

INVESTING

• Market Wizards - Jack Schwager
• The New Market Wizards - Jack Schwager
• The Intelligent Investor - Benjamin Graham
• Common Stocks and Uncommon Profits - Philip Fisher
• The Essays of Warren Buffett: Lessons for Corporate America - Warren Buffett
• Contrarian Investment Strategies - David Dreman
• Against the Gods - Peter Bernstein
• Behavioral Finance and the Impact of Investor Bias on Decision Making - Nick Greer
• A Random Walk Down Wall Street - Burton Malkiel
• Markets in Motion: A Financial Market History: 1900 to 2004 - Ned Davis
• Origins of the Crash: The Great Bubble and Its Undoing - Roger Lowenstein
• Fortune’s Formula: The Untold Story of the Scientific Betting System that Beat the Casinos and Wall Street - William Poundstone
• The Art of Short Selling - Kathryn Staley
• Bull’s Eye Investing - John Mauldin
• You can be a Stock Market Genius - Joel Greenblatt
• The Little Book that Beats the Market - Joel Greenblatt
• Fooled by Randomness - Nicholas Taleb
• Running Money - Andy Kessler

ECONOMICS

• Knowledge and the Wealth of Nations - David Warsh
• Global Capitalism - Jeffry Frieden
• Vienna and Chicago, Friends or Foes?: A Tale of Two Schools of Free Market Economics - Mark Skousen

ACCOUNTING

• Accounting for Growth - Terry Smith
• Reading Between the Lines of Company Accounts - Stephen Bloomfield
• Financial Shenanigans - Howard M. Schilit

MISCELLANEOUS

• Fischer Black and the Revolutionary Idea of Finance - Perry Mehrling
• My Life as a Quant: Reflections on Physics and Finance - Emanuel Derman
• Liar’s Poker - Michael Lewis
• Hedgehogging - Barton Biggs
• The Alchemy of Finance - George Soros
• When Genius Failed: The Rise and Fall of Long Term Capital Management - Roger Lowenstein
• The Smartest Guys in the Room: Bethany McLean & The Amazing Rise and Scandalous Fall of Enron - Peter Elkind
• The New New Thing - Michael Lewis
• Barbarians at the Gate: The Fall of RJR Nabisco - Bryan Burrough
• The World is Flat - Thomas Friedman

Thanks all my dear friends’ kind supports. Finally, MS 150 is over. I am not actually sure whether I should say I finish MS 150 or not, well it is NOT up to me. Here is the story, the first day San Antonio experienced big rain, well, but not that bad I guess for the dieing hard cyclists. So I hang on there and finished 75 miles ride with 17+ mph average speed in the rain. Appreciate our company’s kind sponsor and all the volunteers, so I can get into the tent and have a rest. But I have to admit LifeTime Fitness team’s BBQ smelled really good, especially after my long ride as you can imagine. At the second day, I woke up around 5:15AM and was shocked about the bad weather. The storm was unbelievable! Honestly, I kept questioning myself “Am I stupid or brave?” This question finally left to the MS 150 committee, the day 2 ride was canceled. I felt sorry for Fay’s coming at that early to pick me up. And I even was not able to see her under my building, which was probably half minutes walking distance away, just because the rain was too heavy and it already started flooding over there. Well, to everyone’s disappointment, the rest of the day was OK, just very humid.

OK, that is pretty much about my first MS 150 ride. Again, highly appreciate all my friends’ support. And to the readers of my blog, MS 150 is the largest organize National ride in U.S. You can check over here:

http://www.ms150.org/

Here are some pictures.

『就我沒白吃』—作者只寫了一頁紙，己將中國的整個「結構」寫出來，佩服！

今天是週末，我們高中同學要在天安酒店搞一次同學聚會。

自從畢業後，好多同學都混得有模有樣，我卻默默無聞，在一家工廠當製圖員，每月和

丈夫一起靠著不多的收入共同撐著這個家。我本不打算去，可禁不起同學們的一片盛情

，只好答應。

丈夫正在幫兒子復習功課，兒子就要上初中了，為了上一所好中學，這段時間丈夫沒少

操心，東奔西走，至今還沒著落呢。看了兒子一眼，我走出了家門。

天安酒店是高級酒店，我走進包房的時候，同學們都已到齊。還沒坐穩，一張張名片就

飛了過來，一看一個個不是總經理就是帶長的，就連以前成績總是甩尾的阿輝也當上了

派出所所長。

望著服務小姐端上眼花繚亂的菜肴，我真感歎自己孤陋寡聞，光這一桌就足以抵我三個

月的收入了。阿輝像宴席的主人一樣不停地招呼大家吃，不時地為這個斟酒、為那個夾

菜，嘴裏還說：”只管吃，算我的。”大夥也沒任何拘束，一 輪接一輪地交杯把盞、海

闊天空地閒聊。

酒足飯飽之後，天色已不早，此次聚會該結束了。可究竟誰埋單，我看大夥好像都沒有

要慷慨解囊的意思。這時候阿輝掏出手機，按了一串號碼，然後說：”小李，今晚所裏

掃黃抓到人沒有？哦！剛抓到———好！好！ 隨便送一個到天安酒店來給我埋單。”

說完，他得意地把手機放進了口袋，一旁的同學跟著哄笑起來。十五分鐘不到，一個中

年人就進來了，他看了帳單，不禁皺了皺眉頭，看來他身上的現鈔也不足。

他隨即也拿出手機，撥了一串號碼，說：”廖公嗎？我是馬校長呀！你兒子要轉學讀我

們學校的事，我今天就給你拍板定下來了……不過我今晚請朋友吃飯，你過來埋單好嗎

？在天安酒店203包廂……”

二十分鐘後，有人敲了敲包廂的門，門被打開了。當我見到戴著副高度近視眼鏡的丈夫

站在門口時，我暈倒了。

PS：

本故事榮獲2006年度最佳故事情節獎，年度最讓人心酸故事獎，年度最佳搞笑短文獎，

百姓評委會特別推薦獎。

When writing T-SQL code, you often need a table in which to store data temporarily when it comes time to execute that code. You have four table options: normal tables, local temporary tables, global temporary tables and table variables. I’ll discuss the differences between using temporary tables in SQL Server versus table variables. Each of the four table options has its own purpose and use, and each has its benefits and issues:

• Normal tables are exactly that, physical tables defined in your database.
• Local temporary tables are temporary tables that are available only to the session that created them. These tables are automatically destroyed at the termination of the procedure or session that created them.
• Global temporary tables are temporary tables that are available to all sessions and all users. They are dropped automatically when the last session using the temporary table has completed. Both local temporary tables and global temporary tables are physical tables created within the tempdb database.
• Table variables are stored within memory but are laid out like a table. Table variables are partially stored on disk and partially stored in memory. It’s a common misconception that table variables are stored only in memory. Because they are partially stored in memory, the access time for a table variable can be faster than the time it takes to access a temporary table.

Creating indexes on SQL Server tables

Because both local and global temporary tables are physical tables within the tempdb database, indexes can be created on these tables to increase performance as needed. As with any index creation, this process can take time on larger tables. Because temp tables are physical tables, you can also create a primary key on them via the CREATE TABLE command or via the ALTER TABLE command. You can use the ALTER TABLE command to add any defaults, new columns, or constraints that you need to within your code.

Unlike local and global temporary tables, table variables cannot have indexes created on them. The exception is that table variables can a primary key defined upon creation using the DECLARE @variable TABLE command. This will then create a clustered or non-clustered index on the table variable. The CREATE INDEX command does not recognize table variables. Therefore, the only index available to you is the index that accompanies the primary key and is created upon table variable declaration.

How do the internal workings of SQL Server perform differently between table variables and temporary tables?

The differences between accessing tables and variables cause the internal processes within SQL Server to treat the objects quite differently. Temporary tables are actually physical tables, so the SQL Optimizer and locking engine handle the tables just as they would any other database tables. Because reads to a temporary table are made (including local temporary tables), a read lock is placed on the table.

This locking process takes time and CPU resources. When reading from a table variable – because the table variable is stored partially within memory and cannot be accessed by any other user or process on the system – SQL Server knows locking is not required. In a very busy database, this lack of locking can improve system performance because locks do not have to be taken, escalated and checked for each data access operation.

Limits of temporary tables and table variables

Temporary tables and table variables both have their strengths, but they both have weaknesses too. On a heavy load system that has lots of usage of temporary tables, the disk array servicing the tempdb database will experience a higher than expected load. This happens because all reads and writes to the temporary tables are done within the tempdb database. Table variables will perform poorly with large record sets, especially when doing joins because there can be no indexes other than a primary key. Beware, though, when many users start using table variables — large amounts of RAM are used because all temporary tables are stored and processed directly in memory. Table variables should hold no more than 2 Megs to 3 Megs of data each (depending on user load and system memory).

Both temporary tables and table variables can be extremely useful tools in developers’ and administrators’ arsenals; however, care must be taken as to when to use each solution. There is no end-all solution, and you must choose the correct solution for the correct situation.

Local Temporary tables:

They are created using same syntax as CREATE TABLE except table name is preceded by ‘#’ sign. When table is preceded by single ‘#’ sign, it is defined as local temporary table and its scope is limited to session in which it is created.

Open one session in Query Analyzer or SSMS (Management Studio) and create a temporary table as shown below.

CREATE TABLE #TEMP
(
COL1 INT,
COL2 VARCHAR(30),
COL3 DATETIME DEFAULT GETDATE()
)

GO

Upon successful execution of above command, MS SQL Server creates table in tempdb database. One cannot create another temporary table with the same name in the same session. It will give an error but table with the same name can be created from another session. To do this, open another session from SSMS or query analyzer and issue same command again. It will successfully create new temporary table for that session.

In order to identify which table is created by which user (in case of same temporary table name), SQL Server suffixes it with the number. This is very common scenario when temporary table is defined in the stored procedure and procedure is getting executed by different users simultaneously. Since we have created temporary table with the same name from two different sessions, we should see two entries in tempdb database. From another session or any of the current session, issue following command. Output is displayed after select statement.

USE TEMPDB
GO
SELECT Table_Catalog, Table_Name FROM information_schema.tables
WHERE table_name like ‘%TEMP%’
GO

Table_Catalog Table_Name
————- ———-
tempdb #TEMP________0000000001F7
tempdb #TEMP________0000000001F9

Now create some data from the session in which temporary table (#temp) is created.

INSERT INTO #TEMP(COL1, COL2) VALUES(1,’Decipher’);
INSERT INTO #TEMP(COL1, COL2) VALUES(2,’Information’);
INSERT INTO #TEMP(COL1, COL2) VALUES(3,’systems’);

Selecting data from temporary table will give following results.

COL1 COL2 COL3
———– —————————— ———————–
1 Decipher 2007-03-27 19:39:56.727
2 Information 2007-03-27 19:39:56.727
3 systems 2007-03-27 19:39:56.727

This data is not visible from another session since we are using local temporary table. We can verify it by connecting to another session and querying the #temp table. Local temporary tables are dropped when session which created the table is ended, if one has not dropped it explicitly.

Also, please do note that if you are creating temp tables in a stored procedure, the scope for the existence of those temporary tables is only the procedure execution. The temp tables automatically get dropped once the procedure execution is over (they can be explicitly dropped as well). Once the procedure execution is over, those temp tables will not be accessible from within that session. Example:

create proc test
as
begin
set nocount on
create table #temp (col1 int)
insert into #temp values (1)
end
go

exec test
select * from #temp

Msg 208, Level 16, State 0, Line 2
Invalid object name ‘#temp’.

Global Temporary tables:

Syntax difference between global and local temporary table is of an extra ‘#’ sign. Global temporary tables are preceded with two ‘#’ (##) sign. Following is the definition. In contrast of local temporary tables, global temporary tables are visible across entire instance.

CREATE TABLE ##TEMP_GLOBAL
(
COL1 INT,
COL2 VARCHAR(30),
COL3 DATETIME DEFAULT GETDATE()
)
GO

Execute above statement to create global temporary table. You can verify it by checking the tempdb database. As global temporary tables are available across the instance, SQL Server doesn’t suffix it with the number. Following is the output of query ran against tempdb.

USE TEMPDB
GO
SELECT Table_Catalog, Table_Name FROM information_schema.tables
WHERE table_name like ‘##TEMP%’
GO

Table_Catalog Table_Name
————- ———-
tempdb ##TEMP_GLOBAL

There will be only single instance of global temporary table. Attempt of creating global temporary table with the same name from any other session will result into an error.

Create some data in one of the session where temporary table (##temp_global) is created.

INSERT INTO ##TEMP_GLOBAL(COL1, COL2) VALUES(1,’Decipher’);
INSERT INTO ##TEMP_GLOBAL(COL1, COL2) VALUES(2,’Information’);
INSERT INTO ##TEMP_GLOBAL(COL1, COL2) VALUES(3,’systems’);

Connect to other existing session or open new session. Execute following statement and you will notice that global temporary table is available along with the data from other session as well.

COL1 COL2 COL3
———– —————————— ———————–
1 Decipher 2007-03-28 09:52:34.310
2 Information 2007-03-28 09:52:34.310
3 systems 2007-03-28 09:52:34.310

Global temporary tables are dropped when last session accessing the tables is closed. It is always good practice to drop the temporary tables in the same scope, once we are done with it. This will help us in avoiding creation error when same connection from the connection pool is used by different processes which access temporary tables.

Global temporary tables can be used in data warehousing application where one session performs the ETL and populate the global temporary tables and other sessions read from the table, specific data and process it.

Features of Temp Tables

We’ll list out features that differentiate a Temp Table between either a Permanent Table or a Table variable. These pointers will be helpful to keep in mind when you consider Table Variables in our next post.

Scope: Within a connection, a temporary table object is visible to the creating level and inner levels (nested). For example, if you create a stored procedure and declare a temporary table object within it, you can call another stored procedure from that stored procedure (a nested stored procedure) and perform operations like inserting, updating and deleting that temporary table object. Once the main creating level terminates, the temp table is automatically destroyed. But don’t be too complacent – you’ll have to wait for the system to perform a clean up and therefore, it is highly recommended that you manually drop your temporary table.

Locking: The prospect of table locking is reduced when it comes to local temporary tables since this table is being used by only one user. One aspect where you might want to keep this in mind is that if you cancel a transaction which contains the creation of a temp table object and then cancel that query, an exclusive and update lock can appear on the tempdb. This lock will persist till the complete transaction has closed with a COMMIT or a ROLLBACK

Logging: There is less logging involved with temporary tables compared to permanent tables.

Transaction: When using a temporary table, a temporary table is an integral part of an outer transaction and therefore, ROLLBACKs must be supported by Logging

Indexing: We can create indexes on temporary tables explicitly on them. Hence, there is scope for performance enhancement when you talk about temp tables.

Constraints: All constraints are available for exploiting on a temp table EXCEPT when it comes to referring a Foreign Key Constraints

Statistics: SQL Server can create Statistics for temp tables just like we do for permanent tables and therefore, the query optimizer has the option of choosing different plans. Hence, with this in mind, be aware of the scope of Stored Procedure Recompiles.

Recompiles: There is scope for a large number of Stored Procedure Recompiles especially when you have DDL statements mixed anywhere within your Stored Procedure.

Temp Table Size: Can hold any volume of data. This will be a strong part of the deciding factor when you want to choose between a temporary table and a table variable.

Features of Table Variables

Now that you’ve got a hang around working with a Table Variable, let me mention the main pointers that we need to keep in mind while working with. This will set the stage for differentiating between a Temp Table and Table Variable which I’ll illustrate in my next post.

Transactions: Table Variables are not bound to any transaction as they are just like any other variable

Minimum Constraints: A Table Variable permits us to use only the PRIMARY KEY, UNIQUE KEY and NULL constraint only. What this implies behind the scenes is that we can have unique indexes. The only possibility of creating a non-unique index is if we add attributes and make that blend unique and have a PRIMARY KEY or a UNIQUE KEY on the combination we just made.

No SELECT INTO: We cannot use a SELECT INTO with Table Variables in SQL Server 2000 though the feature is available with Table Variables in SQL Server 2005. Likewise, we can also have INSERT INTO working with Table Variables against a SELECT but not against an EXEC Stored Procedure.

No ALTER TABLE Variable: We cannot ALTER a Table once it has been declared. This may look a little rigid but remember that recompilations can come out like wild fire when there are DDL (Data Definition Language .i.e Schema) changes and therefore, this helps to avoid recompilations.

Scope: Just like any other variable, a Table Variable’s scope exists only within the context of the current level. Therefore, unlike Temp Tables, it is not accessible to sub levels (of Stored Procedures)

Table Variables And The TempDb: Okay, now I’ll touch upon one of the most common myths that exist among developers: that Table Variables have nothing to do with TempDb and therefore, they have no physical representation in the TempDb and therefore, they reside in ONLY memory and therefore they’re the best option for efficient processing.

Not entirely true. Table Variables do indeed have a physical representation within the TempDb and this can proved with a simple query in your database against the TempDb:

No Statistics: When it comes to Table Variables, the SQL Server optimizer does not create distribution statistics. Therefore, you run the risk of referring not-so-good query plans when the SQL Server optimizer selects after checking up with histograms. And if you consider this aspect with Tables Variables that contain huge amounts of data, we fall into serious I/O thrashing. Hence, as stated in the closing section of the last point, we have to have a thorough understanding of our scenario to choose a temporary object for the context.

A possible replacement for temp tables is a table variable.

In summary, following are the key points when temporary tables are involved.

• Temporary tables can be defined as local or global temporary tables.
• Local temporary tables are available to session in which they are created. If another  session creates the table with the same name, it will be different copy of the table in tempdb database.
• Global temporary tables are available across the instance. Any user from any session can access it.
• It is best practice to drop the temporary table when related work is finished rather than relying on connection to end for the cleanup.
• Table variables can be used instead of temporary tables for performance reasons and when dealing with smaller sub-sets.
• When used in the procedure,function or trigger, its scope ends once execution is completed.

Limitations of Temporary Tables

Temporary tables are created in the tempdb database and create additional overhead for SQL Server, reducing overall performances. SQL Server has numerous problems with operations against temporary tables.

Using Temporary Tables Effectively

If you do not have any option other than to use temporary tables, use them affectively. There are few steps to be taken.

• Only include the necessary columns and rows rather than using all the columns and all the data which will not make sense of using temporary tables. Always filter your data into the temporary tables.
• When creating temporary tables, do not use SELECT INTO statements, Instead of SELECT INTO statements, create the table using DDL statement and use INSERT INTO to populate the temporary table.
• Use indexes on temporary tables. Earlier days, I always forget to use a index on temporary. Specially, for large temporary tables consider using clustered and non-clustered indexes on temporary tables.
• After you finish the using your temporary table, delete them. This will free the tempdb resources. Yes, I agree that temporary tables are deleted when connection is ended. but do not wait until such time.
• When creating a temporary table do not create them with a transaction. If you create it with a transaction, it will lock some system tables (syscolumns, sysindexes, syscomments). This will prevent others from executing the same query.

Conclusion

Generally, temporary tables should be avoided as much as possible. If you need to use them follow the steps above so that you have the minimum impact on server performance

If you have to use a temp table, do not create it from within a transaction. If you do, then it will lock some system tables (syscolumns, sysindexes, and syscomments) and prevent others from executing the same query, greatly hurting concurrency and performance. In effect, this turns your application into a single-user application.

To avoid this problem, create the temporary table before the transaction. This way, the system tables are not locked and multiple users will have the ability to run this same query at the same time, helping concurrency and performance.

Source: http://dev.digi-corp.com/2009/05/temporary-tables-vs-table-variables-in-sql-server/

You have only a chance to make a first good impression. How much times have you dedicated to build your presentation? Tom Peters tacked about to become a BRAND YOU. Tom used to talk about what is going to come. Brand you was cool the first we hear about it. Now is live or death. Do not mind if you are working to other or to your own. It is mandatory.

So ask to you, how are you introducing yourself? How do you make your own presentation?When you try to know about somebody what you are doing is to use an analogy process to classify that person. This is basic psychology. You make an automatic comparison between that person information and your personal categories’ database.

This is very important. It is a subconscious process, but you can do it consciously.

How much time do you use to prepare your introduction? How do you decide what is the relevant information? We could use my own example.

I could say” Psychologist. I do training. I write . It is ok, isn’t it?” This is not saying anything special about me.

Well, try with “ I help people to make life simple” or “ I help to normal people to access and use state-of-the-art discoveries about human behaviour to change to better.” This is a little better. It sounds more specific. How can we improve it?

“Acknowledged expert, with more than 20 articles published, about how you can self-improve easily, having fun and getting the best results from your investment in time and resources. He has a great experience in training about how to apply coaching to different subjects.”

Clear and specific. I am quite sure you can do it better.

At this stage you should realise what I want to show you.

What are the questions to answer?

I will ask you to use seven questions to help you to build your personal presentation.

Who are you? Do not forget who are you. Do not try to be somebody else.

What is your service or product? Please, be clear, simple and specific. Everybody has to understand what you say.

What is making you so special? We all are special. You too. If you have some difficulties to find what make you special, then, ask to your friends and colleges. Accept their answers and say thank you.

Identify what make you different, especially from your competitors.

You will need to know your competitors and your market. This is not an option.

Why should I trust on you? You need to build your credibility. Trust is the stronger bond with any client.

How do I know that you are state-of-the art? I want the latest in my field. How do I know that you are the guy with that knowledge.

Could you prove your value? Tell them about your experience. Give them some testimonies. Testimonies are the best business card.

Use these questions to build your best presentation. Use it each time you have to introduce yourself.

Ask others for feedback. Ask to those you consider as your Peer Group. Do not try with everybody.

饭堡如今就像碗勺筷子一样在我们厨房中不可或缺，不管多高档的电饭煲内胆都用到不粘涂料。其实不粘涂料的使用虽然给我们带来了清洁上的便捷，但同时也带来不少不容忽视的健康隐患。

电饭煲内胆所使用的涂料叫特氟隆(teflon），主要成份是一种有机氟化合物，化学上的学名叫聚四氟乙烯（简称4F,PTFE）。这种物质在高温下会产生有毒化合物，这些化合物随食物一起进入人体，由于分解缓慢便会聚集在体内的组织中。相关医学已经证明，聚四氟乙烯的分解物对肾脏有特异毒性，严重中毒者其中枢神经系统、呼吸系统、心血管系统、肝、肾等都会受到损害。此外，电饭煲内胆也常因为我们的清洁摩擦，无意碰撞等出现脱落，无形中从另一个渠道使我们增加了这些有害物质的摄入量。同样的道理也适用于所有使用不粘涂料的炊具，比如最常见的平底锅。

为了寻找替代电饭煲的炊具，Bonbon尝试用慢炖锅来煮米饭，结果非常成功，而且可能是因为慢工出细活的道理，煮出来的糙米饭好像还更香更好吃呢。

用慢炖锅煮糙米不用预先泡米，如果放入花生同煮，只须将花生事先浸泡2个小时足已，完全不需要泡过夜就可以煮烂，这应该算是一种好处吧。

到目前为止，Bonbon使用慢炖锅煮饭已经有两三个月了，感觉非常好，电饭煲也没有被冷落，照样可以拿来蒸东西用。记住哦，用慢炖锅煮米饭，糙米和水的比例是1：1（水放太多收不干就不好吃了，这是Bonbon的经验总结），用电饭煲则是1：2，因为在煮的过程中水份被蒸发的不多，是不是因为这样米饭才更好吃呢？

用慢炖锅唯一的缺点是它不会自动跳闸，煮一次饭大概要两个小时，你可以在适当的时间检查一下以便及时断电或保温,这点很重要，否则锅子边缘的米饭会在高温下一直被蒸发水份而变得又干又硬，除非你有一副铁牙铜胃来享用它们，不然一定要记得及时断电！！

另外，用慢炖锅煮饭也一样不粘底，Bonbon的慢炖锅是陶瓷内胆的（还是中国制造），相信紫砂的也一样没问题，不管怎样都值得一试，因为不怎么费周章，却可以吃得更放心更健康！

Bonbon一般一次多煮一些（节约电力），每餐要吃的时候用电饭煲来蒸热（不用微波炉）

慢炖锅替代电饭煲煮米饭更安全更健康_Bonbon_Love life Live green ^^.

• Harvard Business School

Application Periods:	Application submitted online by 5 p.m. EST:	Notification of the MBA Admissions Board’s decision:
Round 1	October 1, 2009	December 15, 2009
Round 2	January 19, 2010	April 6, 2010
Round 3	April 8, 2010	May 13, 2010

• Wharton

	Application Deadline	Decision Release Date
Round 1	October 1, 2009	December 18, 2009
Round 2	January 5, 2010	March 26, 2010
Round 3	March 9, 2010	May 14, 2010

• Columbia

	Application Review Period Begins	Decision Period*	Application Deadline
Class of 2011: January 2010 Enrollment	April 30, 2009	Within 8 weeks	October 7, 2009
Class of 2012: September 2010 Enrollment — Early Decision	August 17, 2009	Within 10 weeks	October 7, 2009
Class of 2012: September 2010 Enrollment — International Applicants	January 6, 2010	Within 12 weeks	March 3, 2010
Class of 2012: September 2010 Enrollment — U.S. Citizens and Permanent Residents	January 6, 2010	Within 12 weeks	April 14, 2010

• Cornell Johnson

Round	Application	Notification	Deposit	Scholarship Notification
Round 1	Oct 6, 2009	Dec 17, 2009	Jan 27, 2010	Dec 17, 2009
Round 2	Nov 12, 2009	Feb 16, 2010	March 10, 2010	Feb 16, 2010
Round 3*#	Jan 12, 2010	Mar 23, 2010	Apr 14, 2010	Mar 23, 2010
Round 4#	Mar 30, 2010	May 6, 2010	June 1, 2010	N/A

• Yale School of Management

APPLICATION DEADLINES

Round 1: October 8, 2009 (decisions due by December 18, 2009)
Round 2: January 7, 2010 (decisions due by April 2, 2010)
Round 3: March 10, 2010 (decisions due by May 7, 2010)

• Chicago Booth

Round	Submission Deadline	Mid-Decision	Decision Notification Date
Round One	October 14, 2009	November 11, 2009	December 22, 2009
Round Two	January 6, 2010	February 17, 2010	March 24, 2010
Round Three	March 10, 2010	April 21, 2010	May 12, 2010

• MIT Sloan

MBA Program Deadlines

	MBA Round I*	MBA Round II
Application Received By 12 noon Pacific Time	Tuesday, Oct 27, 2009	Tuesday, Jan 12, 2010
Decisions Released By**	Monday, Feb 1, 2010	Monday, Apr 5, 2010
Reply By	Friday, Apr 1, 2010	Friday, May 28, 2010

• NYU Stern

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根

据传统看法，清洁煤是中国的希望所在，而中国也是清洁煤的希望所在。这些看法不无道理──作为世界上最大的温室气体排放国，中国经济的快速增长需要有煤炭作为动力。

斯坦福大学一份引起关注的最新研究报告说，忘掉这点吧。也就是说，中国可能只会忙于清洁煤技术的研发，但这并不意味着中国将会广泛使用这项技术。

这份研究报告中说，事实上，中国相互交织的根本利益──诸如能源安全、经济增长和发展，以及宏观经济的稳定──与碳捕集和封存的大规模实施存在直接矛盾，除非这种实施基本完全由外部资金所支持。

结论看来就是这样的。迄今为止，中国一直愿意开展清洁煤示范项目，与美国政界和美国能源公司签订了协定，但那基本上只是为了对冲风险。

大规模推出清洁煤会给中国带来诸多棘手问题，最起码的一点是捕集碳排放的清洁煤电厂的用煤量比普通电厂更多。中国的煤炭供应链已经捉襟见肘；将煤炭产量提高20%以处理清洁煤发电问题将耗资至少150亿美元，使本已昂贵的清洁煤变得更贵。

正如中国自己承认的，中国的电力市场不是为清洁煤经济而建的。在正在研究对碳排放定价的西方国家，你几乎可以看到清洁煤是如何在日常生活中具有经济意义的。

中国并未考虑设定排放上限，或对碳进行定价。中国的电力公司甚至无法应对煤炭成本的上涨，更不用说清理这些东西的成本了：如果中国电力市场的结构意味着发电厂只能勉强支持煤炭的成本，支持碳捕集和封存的成本目前就不可能在电力行业重大改革的考虑之列了。

那么，解决方案是什么？富裕国家可以承受全部开销──斯坦福大学估计为每年250亿美元至300亿美元。这在美国国会内部应该不难通过。

或许中国只会将重点放到提高现有燃煤电厂的效率上。研究报告说，达到欧洲的燃煤效率水平就会将中国的煤炭排放物数量降低20%。

如果不是清洁煤，那么更为清洁的煤炭可能是世界上最大气候难题之一的唯一现实的解决办法。

Keith Johnson

中国清洁煤应用 雷声大雨点小-华尔街日报.

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