►David Thormanis doing so well that he attended both the Crab Feed and the regular meeting on February 5th, 2019. He is walking without a cane and his knee surgery was only two weeks ago. (see more comment in the "Happy Thoughts" section.)
► Tony Marques who has had open heart surgery! Late announcement as of February 7th. Karen Munsterman reports that Tony is now home and appreciates calls.....
► VOCATIONAL MONTH: Vocational Chair Chuck McBride reported thatduring Vocational Service Month, we provided American River College three $500.00 scholarships to be awarded this year, as well as $1000.00 for a future growth account to be an ongoing Carmichael Rotary Scholarship at ARC. We received a Thank You note from ARC’s President Thomas Green for our efforts “
► CRAB FEED UPDATE: We just had the latest Crab Feed Meeting and please get your checks into Vince Iosso - also David Thorman says we need more raffle prizes and please bring in your donation of bottles of wine and beer for the raffle barrel in the next two meetings. Phil Danz co-chair person for the "Dessert Auction" says that about 5 to 10 Desserts are needed. He sent around a sign up sheet again.
CALENDAR
► FEBRUARY 12, 2019 - Theodore Roosevelt - American president - presentation by David Radar
► FEBRUARY 19 - Our Club Foundation, Mark Beil, David Thorman, Vince Iosso, Ed Bunting
► FEBRUARY 23 - CARMICHAEL ROTARY CRAB FEED AT LA SIERRA COMMUNITYCENTER - 5:30 pm
► FEBRUARY 26 - Mark Mannis - Chief of Ophthalmology at U.C.D. School of Medicine
► MARCH 5 - UGANDAN WATER PROJECT - Final detailed update!
Dr. Hamid Ahmadi - "Behavioral Finance & the Decision Making Process"
Our newest member Dr. Hamid Ahmadi was introduced by acting president Dick Bauer. He said that Hamid is a graduate of Claremont University with a Ph.D. in Finance. He has worked for many years as a professor at CSUS and has been a visiting scholar at Stanford University. He is published widely on Portfolio Management and Investment Strategy. Today, his topic is “Behavioral Finance and the Decision Making Process”.
Hamid didn’t quite show us how to make a million dollars, but he did cause us to reflect and think about our decision-making process when it comes to money and other things. Hamid took training with E.F. Hutton – remember them? "When E.F. Hutton talks, people listen".
Hamid showed a picture of a person on a precipice, and said this is how people feel before investing in the stock market; and showed a picture of a roller coaster, and said this is how people feel after investing in the market. Hamid said that our preference and choices are a function of a satisfaction function which shows that the first $10,000 that one earns bring great happiness, but the second $10,000 not quite as much. The same is true with the first beer versus the second or third beer. Hamid showed a graph of this phenomenon. He went on to show examples of how “framing” a question gets different answers. This is where both versions have the same identical facts. People will approve or disapprove depending on how these facts are framed. One example was about a decision to have surgery. The surgeons that were presented the success rate approved the procedure, and the surgeons that were presented the unsuccessful rate disapproved the procedure. The same identical facts draw different reaction depending on how one frames the questions. Hamid said framing is often used in finance.
Hamid showed that most decisions are subconscious, however, people make many decisions based on facts and assumptions. He showed two slides, one listed the “innate” biases and the other the “learned” biases, and talked about each one. It was interesting to see the link between voting behavior and “likability bias” and the link between IBM giving away Microsoft and Intel and the “hindsight bias”. He also showed how we treat money differently. We take a $10 discount on cheap items but won’t take the $10 discount on expensive ones. The reason, he said, is JND (Just Negligible Difference). Hamid said the unintended consequences of these biases are our ability to manipulate ourselves and also become arrogant. He said the worst killer of intelligent decision making is arrogance.
Hamid speculated that perhaps investment advisers would better serve their clients by getting to know them more intimately, by spending more time with the client, with his or her family and getting a better feel for their aspirations.
E.F. Hutton is gone, but when Hamid talked, we all listened!!
President for the day, Dick Bauer, thanked Dr. Ahmadi for his most interesting presentation and noted that, in his honor, a book will be dedicated to the Carmichael library (Sacramento Public Library).
pics
Guest Speaker Dr.Hamid Ahmadi, Mrs. Paris Ahmadi, Past President Dick Bauer
V icky Boatwright looked happy to perform her important duty as “Thought Therapist”Chuck McBride, was happy to see DavidThorman back, David said he is glad to be back,(you mayrecall that Dick Bauer showed up on his second week after knee surgery with a cane but David showed up this week – his second week walking WITHOUT a cane! – what does that tell you?-same surgeon!);Paris Ahmadi thanked the Club for keeping her husband busy preparing his talk; Karen Munsterman appropriately gave some $ on the news that Tony Marques is doing well after his heart surgery; Dick Bauer is ecstatic because the Sacramento Kings are three games over .500, who’d have thought?; Vicky Boatwright kind of was happy because her trip to St. Louis was postponed; her husband Jay sort of looked happy about having her home; Stan Roe thanked Hamid Ahmadi for his interesting presentation; and lastly Doug Haaland put in a few bucks noting that Phil Danz(who has been unfairly fined three times in a row) did not acknowledge that he put some $ in the pot last week in the bulletin…
BELL RINGERS
DICK BAUER; BILL BAXTER; MARK BEIL; VICKY BOATWRIGHT (x2); ED BUNTING (x3); PHIL DANZ; ALAN GALLAWAY; DOUG HAALAND; GREG HERRERA; CHUCK McBRIDE; KAREN MUNSTERMAN; RICH PLATH; STAN ROE; WALTER MALHOSKI X2; RICH SHIPP; DAVID THORMAN; MARK URBAN
BONG GONGERS
DICK BAUER; ED BUNTING (X4); PHIL DANZ; BILL DONNOE; DOUG HAALAND; GREG HERRERA (X5); VINCE IOSSO; WALTER MALHOSKI ; CHUCK McBRIDE; STAN ROE
EXPLANATION: A BELL RINGER IS SOMEONE WHO DONATES $100 TO THE CLUB IN A GIVEN YEAR; A GONG BONGER IS ONE WHO DONATES AN ADDITIONAL $100 TO THE CLUB FOUNDATION (FOR GENERAL OR SPECIFIC PURPOSE)
RAFFLE
SO Jim Thompson had the winning ticket for the $700 in the kitty, but was kind of disappointed that he only got the 6 of Diamonds but did glean on to a a bottle of wine from the Club's secret cellar. Another Ho Hum day!
“The Wonderful Mr. Willughby, the first true ornithologist”
Tim Birkhead
Glenn Fong
“The Spy Who Left Behind”
Michael Pullara
Jay Boatwright
“Einsteins Monsters, The Life and Times of Black Holes”
Chris Impy
Jim Thompson
“Barons of the Sea and their race to build the fastest clipper ship”
Steven Ujifusa
Mark Steffens
“A Forever Family; Fostering Change One Child at a Time”
Rob Scheer
Yourbulletin editor just couldn’t help bringing to your notice the relevance of the last six “Book Donations” by Branch Supervisor, Berta Boegel given “in honor of” our recent keynote speakers to the Carmichael Library (Sacramento Public Library) at our Club meetings. Note that Berta has fined tuned the speakers topic to the subject of the book! They are below:
Missy McCall, who talked about “Human Trafficking”, book donated in her name: Under theBirch Tree: A Memoir of Discovering Connections and Finding a Home by Nancy Chadwick.
Mark Urban, who talked about a trip to Ethiopia, book donated in his name: The Pharaoh’sTreasure: The Origin of Paper and the Rise of Western Civilization by John Gaudet.
Dr. Beverly Wesner-Hoen, who talked about being a part of Rotary Fellowship, book donated Why To Kill a Mockingbird Matters: What Harper Lee’s Book and Iconic American Film Mean to Us Today by Tom Santopietro
Doug Haaland, who talked about his trip to Israel, book donated in his name: Shaya: An Odysseyof Food, My Journey Back to Israel by Alon Shaya.
and 6. Bill Baxter and Rich Plath, who talked about “Fly Fishing” – get this – “On the Fly”: HoboLiterature and Songs 1879-1941 ed. By Iain Mcintyre. How appropriate….
During the incumbency of President David Thorman,(2013-14) it was decided that instead of giving a particular gift, ie coffee mug, pen etc. to honor our guest speaker each week, we would simply donate a book to the Carmichael Library. So below are some of the books that we have donated in honor of recent speakers.
It is the "gift that keeps of giving" because those who will check out these books from the library will derive many hours of pleasure for years to come, and it enhances learning and literacy. The books are chosen byBertaBoegel, Branch Supervisor, Carmichael Library, subsidiary of the Sacramento Public Library.
rboegel@saclibrary.org
SPEAKERS/BOOK DONATIONS TO THE CARMICHAEL LIBRARY
As of June 26, 2017, we have purchased nearly 160 titles in honor of our speakers! Because of the large number of books, we are not showing them all at this time.
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