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Many comparisons are drawn between Scobie and Christ in terms of sacrifice. The only difference is no one asked for Scobie's sacrafices and they provide for his unnecessary demise. While the book is heartbreaking in its failed human relations it is also beautiful and filled with insight into human greed, lust, jealousy and regret.
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The main character is Major Henry Scobie, the deputy-commissioner of police in a British-occupied West African state during World War II. He's an honest cop on a force that is given to corruption: Some officers routinely take bribes to overlook diamond-smuggling operations, many of which are masterminded by a sly Syrian named Yusef, who manipulates his friendship with the officers through favors and blackmail.
Scobie's wife, Louise, is miserable; she is lonely and feels ostracized by the other officers' wives in the community. She would like to leave and go to South Africa for a while, but Scobie can't leave his post to go with her or afford to send her because he's been passed over for promotion to commissioner. His last resort to scrape together the money is to borrow it from Yusef, which puts him squarely under Yusef's thumb.
After Louise's departure, Scobie meets a girl named Helen whose husband drowned when their ship was attacked. He falls in love with her despite the fact that she's young enough to be his daughter and mocks his piety. He wonders if adultery can be a sin if the love is genuine, but this is not just a cynical attempt to rationalize his infidelity. Adding to the conflict is a clerk named Wilson who is in love with Louise and, while he pretends to be Scobie's friend and moral compass, acts a sort of dual role as watchdog and betrayer.
Like the protagonist of Greene's "The Power and the Glory," Scobie's character is defined by the fact that he is a devout Catholic who is contritely aware of his sins. Although he believes that suicide would be eternal damnation, he poses a crucial question for himself: Would it be better to kill himself for the sake of honor than to live shamefully, insulting God by kneeling before the altar while living adulterously?
I see Scobie as a "white knight" type of character -- a cavalier, a protector, someone who was born to be a policeman, someone who is sworn to follow the moral code of Christianity. When he fails in this task, or believes that he fails, he is forced to question the validity of continuing his mission; that is, his life. After reading so many novels about people with moral uncertainties, I find a fresh perspective in this man who draws courage from his convictions and acts accordingly.
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George tries to keep girls, small people, twins, people with glasses, people who like tunnels, and everyone else on the playground out of the cardboard house they used to share, but when he leaves to go to the bathroom, he returns to discover that everyone else is now on the inside and he is left alone on the outside. "This house isn't for people with red hair" says Charlene to George. After a tantrum or two, George learns his lesson and declares that the house is indeed "for everyone." George's conversion and the easy acceptance of his friends teaches an important lesson about inclusion and not being selfish. The urban setting and children of many cultures are also nice touches that are not overdone. The text is well-written and the cartoon like illustrations are detailed and fun. This is certainly a good read and teaches kids important lessons about sharing and getting along. I have been looking for books that deal with these issues and this one does so without being didactic or heavy handed. If you like this book, you may also want to check out Junk Pile! by Lady Borton.
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The children who are originally excluded by the "bully" take action to reclaim their place, and then teach George his lesson, before showing him that their more inclusive way is better than his selfishness.
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The love-story between Bendrix and Sarah is told in weaving, unchronological prose, moving from past to future, rarely staying in the present. As Bendrix loses Sarah, in the end, not to husband Henry, but to God, Bendrix's bitterness is firmly compounded, and the sadness of this story is not just the death of a lover, but the death of Bendrix's hope. There are hints at the end of the novel that Bendrix, who finally acknowledges God in his very hatred of Him, will come to share the faith that made Sarah's last days of life make some sense. But this is questionable.
I strongly recommend this book to readers who likes Greene's detective fiction and his entertainments, but who crave a thinner book with a thicker theme. It should be noted that the novel should be taken more seriously than the recent film made of the book, directed by Neil Jordan. While Jordan's film was beautiful to watch, and the acting superb, the story was altered almost unrecognisably towards the end, and the assumption on the part of Jordan that the book was really about Greene and his mistress (Catherine Walston), coloured the film and destroyed much of its authenticity.
Like all of Greene's works, this novel is largely problematic in theological terms, but as Greene works with paradoxes and rarely in terms of black and white, this is what we have come to expect, and love.
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Greenwald et.al. show a terrific aptitude for remaining informal and conversational while maintaining brevity and orderliness. Neophytes are unlikely to encounter a clearer, more concise explanation of 'discounting future cash flows', and most students of value investing will be well-served by Greenwald's order of equity valuation: (1) Asset Value, (2) Earnings Power, (3) Growth, all of which are clearly explained. Additionally, Greenwald discusses a useful addition to common metrics such as 'net asset value' and 'liquidation value' with the concept of 'replacement cost'. Greenwald also acknowledges and thoughtfully attempts to quantify the value investor's less traditionally acknowledged principle of 'franchise value', which he judiciously attributes to Warren Buffett as the latter's singular contribution to investment analysis.
The book's admirable brevity is also its primary shortcoming. Whereas Graham included senior debt and convertible debt vehicles both in Security Analysis and in his investment practices, this text is for all practical purposes only an examination of equities. If the authors of "Value Investing" ever opt to write about a value approach to bonds and other instruments, I'll bet they'd have a captive audience.
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I think the authors' Earnings Power Value (EPV) approach to valuing a company is cutting edge. (Basically EPV is a rehash of Enterprise Value.) Most investors tend to value stocks based on P/E ratios - only looking at equity in a company. However, the proper way to value a company is to look at its whole capital structure - Debt, Equity & Cash. EPV is a much better tool than the P/E ratio for calculating whether a company is undervalued.
The second part of the book that profiles a half dozen or so successful value investors is interesting. It illustrates there are many different ways to execute a value oriented approach. The profiles do not give any hard cut rules that each investor follows, but it does give you a general idea. (I have been successful at applying some of the ideas in managing my own account.) The only flaw of the profiles is the lack of any type of track record. It would have been helpful to list the year-by-year returns for each investor compared to an index. (i.e. S&P 500 Index)
Overall, it's a great book and it deserves a spot behind Ben Graham's Security Analysis and Intelligent Investor.
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It is a book that deserves to be place out on full view. I have it on our coffee table and itnever fails to inspire good conversation.
You may like it too.
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Several thoughtful observations jump out from the book:
1) Foreign aid is not preventing conflicts from emerging (if anything, and this is not implied by O'Hanlon but is explicit in William Shawcross' book DELIVER US FROM EVIL: Peacekeepers, Warlords and a World of Endless Conflict (Simon & Schuster, 2000), foreign aid contributes to instability by giving rise to warlords and black markets);
2) Foreign aid is of limited use in reconstructing societies ravaged by conflict, especially those with limited infrastructures that cannot absorb resources as well as European nations;
3) Foreign aid's best return on investment appears to be the education of women-even a few years of education has a considerable impact on birth control, health, and other areas of interest;
4)Foreign aid shapes both our own philosophy of foreign affairs, and the perceptions others have of our foreign role-it also shapes our domestic constituencies perception of why we should have a foreign policy arm;
5) Foreign aid does not play a significant role in most countries where there is access to open markets and stability does not frighten away investors-indeed the emerging expert consensus appears to lean toward debt forgiveness combined with private capital investment as the best approach to economic reform;
6) Foreign aid is least effective in those countries that are either unstable or have a range of harmful economic policies including trade barriers, large budget deficits, oversized public sectors, and overvalued exchange rates. Roughly half the countries receiving aid today have poor economic policies in place;
7) The U.S. is the least generous of the Office of Economic Cooperation and Development (OECD) members, providing just over one third as much of its Gross Domestic Product (GDP) as the other OECD countries-0.10 percent instead of 0.27 percent.
Having said all this, the author's document their views that our ODA investments need to rise from $9 billion to at least $12 billion a year, with other countries increasing their combined contributions from $51 billion to $68 billion per year. The authors favor increased foreign aid investments in poor countries with good economic policies, for the purpose of building transportation infrastructure, enhancing local health and education programs, and accelerating the expansion of utilities and communications services.
They also recommend a broader distribution of foreign aid for countries in conflict throughout Africa, and suggest that Public Law 480 food aid should be focused only on responding to disaster relief rather than indiscriminate distribution that benefits U.S. farmers but undermines foreign agricultural programs.
They conclude with the somewhat veiled suggestion that all of this could be paid for by a reduction of foreign military assistance to Egypt and Israel. One is left, at the end of the book, with two strong feelings: first, that U.S. foreign aid is on "automatic pilot" and rather mindlessly muddling along; and second, that this is a very small but very important part of the total U.S. national security budget, one that merits its own ombudsman within the National Security Council, and one that is worthy of no less than a penny on the dollar as we plan our future Federal investments.
What is left unsaid by the authors is whether the other $60-80 billion in foreign aid by various actors including the United Nations agencies, is well managed--one is left with the impression that the U.S. really faces two challenges: an internal challenge of improving its performance with respect to foreign aid, and an external challenge in demanding a more rational and coordinated approach to various forms of aid being sponsored by others.
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