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Author: TMFHockeypop Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 21145  
Subject: Re: What IS a Value Investor? Date: 2/4/2013 12:01 AM
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They realized the danger this presented so they dug four holes to check out the geology of the mountain. They got one reading from three of the holes and a different reading from the other hole. They figured the instruments in the last hole were faulty. No, the first three didn't reach the deadly fault and the fourth one did. Based on these erroneous results they calculated that a 20 meter wave would result from the landslide so they lowered the lake's water level 25 meters below the dam's edge. The actual wave was calculated to have been 200 meters high! A whole order of magnitude error because the landslide happened in 45 seconds instead of in about a minute. These people worked hard to save the dam and the village but not recognizing that the odd man out hole was the right one cost over 2000 lives.

My first higher education job after graduate school had my first board meeting in Chadron Nebraska. They had a fairly new student union building constructed in two parts that was blowing out large windows [thankfully] in the middle of the night. We were smart enough to be fearful, so we called in engineers and architects from Denver. First construction was controvercial because they spent "unneeded" money putting in drilled pier pilings down to the bedrock, despite a study that showed they could have used the less expensive spread footings.

The second half of the building went off the first study AND another for the national guard armory less than twenty yards away. Again, no need for drilled pier footings. The President saved money using the two previous studies to put construction two on spread footings.

The Denver firm found a fifty year old picture of a swale running off the mountain behind the campus which was directly between the first half of the student union and the armory. It had been filled in with compacted fill dirt and no living person on campus remembered it. Attached to the first half, the second building not only slid (which might have been fixed) but twisted on the unmoving first half. We tore down the sliding half and blamed it on the retired President.

Matthew 7:24-27

And living in NJ,
http://www.google.com/imgres?imgurl=http://1.bp.blogspot.com...

Bob
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