Friday, May 4, 2007

Zingerman's in the News

The May 3rd NY Times business section has an article on Zingerman's, that great deli turned all things food that serves Ann Arbor locally, and everyone on the web. I have great feeling for this place since I was in Ann Arbor for Bschool from 1983-1985.

In fact, I saw a presentation several years ago sponsored by the UM alumni club here in Chicago. Learned many of the things that the article said, the leaders and co-founders of Zingerman's, Paul Saginaw and Ari Weinzweig, are unique in their outlook, as Weinzweig is quoted, "Our goal in 2020 is to leave our world better than it was when we came here." Nicely said, read this at www.nytimes.com if you can.

Also that day, a long time known issue with stocks was cited by Hal Varian in the Economic Scene. He describes a paper by UM accounting professor Dichev that says that stock market investors who buy and hold are way ahead of buyers who use average dollar investing, that is moving in and out. For the NYSE a buyer in 1926 who held their investment until 2002 would have earned an average annual return of 10%. By contrast, a like buyer who moved in and out based on market sentiment would have earned 8.6% per annum. Of course, Dichev discovered this in 2004, http://www.umich.edu/news/index.html?Releases/2004/Dec04/r121504a, something you can see here for yourself, so what's the big deal in rehashing this now?

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