Online Jeweler

I Like Innovative, Disruptive Businesses
http://www.cfo.com/article.cfm/13003936/c_13015052

We have a very-low-inventory model. While traditional bricks-and-mortar retailers were concerned with excess inventory and were scaling back their selection, we could expand our offerings without taking financial risks. We have exclusive relationships with diamond and jewelry suppliers; what you see on our Website can be found only on Blue Nile. We have more than 50,000 diamonds available at any time, but it's [mostly] a virtual inventory, so we don't have the carrying cost of what would be $500 million to $600 million of inventory. That allows us to be nimble, to have a just-in-time purchasing model. We operate in a negative-working-capital [environment] where we buy a diamond to satisfy a customer purchase and two days later the raw diamond is turned into an engagement ring. That's just an amazing process to see.
- Marc Stolzman

Useful link:
www.bluenile.com

Definitely a unique business model. Great interview. Thank you Kate.

Heard On The Street

Travel the world—early, totally internally reflect, reincarnate, and keep learning.

Art Update

Modest works sell surprisingly well
http://www.iht.com/articles/2009/02/04/arts/melik5.1-421830.php

Useful links:
www.sothebys.com
www.christies.com
www.metmuseum.org
www.artmuseums.harvard.edu
www.clarkart.edu
www.musee-orsay.fr

Great essay on the state of the art market. Thank you Souren.

Aid To Artisans

Aid to Artisans
www.aidtoartisans.org

Useful link:
www.nyigf.com

I think there is demand for green and sustainable products produced by artisans from around the world because it holds cultural meaning + today's consumers appreciate handmade traditions and skills of small-business owners because it helps support a community, and it's genuine.

Random Thoughts

I believe a man’s greatest possession is his dignity and that no calling bestows this more abundantly than farming.
I believe hard work and honest sweat are the building blocks of a person’s character.
I believe that farming, despite its hardships and disappointments, is the most honest and honorable way a man can spend his days on this earth.
I believe farming nurtures the close family ties that make life rich in ways money can’t buy.
I believe my children are learning values that will last a lifetime and can be learned in no other way.
I believe farming provides education for life and that no other occupation teaches so much about birth, growth, and maturity in such a variety of ways.
I believe many of the best things in life are indeed free: the splendor of a sunrise, the rapture of wide open spaces, and the exhilarating sight of your land greening each spring.
I believe that true happiness comes from watching your crops ripen in the field, your children grow tall in the sun, your whole family feels the pride that springs from their shared experience.
I believe that by my toil I am giving more to the world than I am taking from it; an honor that does not come to all men.
I believe my life will be measured ultimately by what I have done for my fellow man, and by this standard I fear no judgement.
I believe when a man grows old and sums up his days, he should be able to stand tall and feel pride in the life he’s lived.
I believe in farming because it makes all this possible.

- Farmer’s Creed

Spot on.

Singularity University

Singularity University
http://singularity-university.org

One of the objectives of the university is to really dive in depth into these exponentially growing technologies, to create connections between them, and to apply these ideas to the great challenges (facing humanity).
- Ray Kurzweil

Useful links:
www.kurzweiltech.com
www.kurzweilai.net

Singularity University = Google + NASA project. Definitely looks futuristic.

Our City Dreams

Our City Dreams
www.ourcitydreams.com

Useful link:
www.filmforum.org

Brilliant stories, really.

French Master Edgar Degas

Dancer fetches £13.3m at auction
http://news.bbc.co.uk/2/hi/entertainment/arts_and_culture/7869151.stm

Useful link:
http://en.wikipedia.org/wiki/Edgar_Degas

The art market operates according to its own logic, which may have nothing to do with the quality of the art. I think the art market paid a sweet price (the same sculpture was sold in 2004 for £5m) for rarity and quality.

Martin Rapaport Viewpoint

Fewer, Better Things
Martin Rapaport Interviews De Beers' Stephen Lussier
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=25173

Useful links:
www.debeersgroup.com
www.diamonds.net

Great interview.

TED 2009

TED 2009 is underway.
http://conferences.ted.com/TED2009/program

Ryan Trecartin

Hysterical art to reflect an absurd reality
http://www.iht.com/articles/2009/02/03/arts/ryan4.1-417500.php

Useful links:
www.youtube.com/user/WianTreetin
www.elizabethdeegallery.com
www.saatchi-gallery.co.uk/artists/ryan_trecartin.htm
www.newmuseum.org

Ryan is spontaneous, expressive and different. It reminded me of my youth. Thank you Randy.

Eustace 2009

Your Eustace, 2009
http://www.newyorker.com/online/2009/02/09/slideshow_090209_eustacetilley

Useful link:
http://www.newyorker.com/archive/2005/02/14/050214fa_fact2

I am a huge Rea Irvin fan.

Gold/Silver Jewelry Investment

Is it worth investing in gold, silver jewellery?
http://www.commodityonline.com/news/Is-it-worth-investing-in-gold-silver-jewellery-14836-3-1.html

Jewellery and diamonds attract VAT at very high levels. Before being fashioned into bracelets and necklaces, investment grade gold bullion (0.9999 or 24 carat) coins, bars and government gold certificates are stamp duty and VAT free. Jewellery is not. This is an added cost on top of an already large mark-up. Typically, 9 carat, 14 carat and 22 carat rings, bracelets and necklaces have mark ups of hundreds of percent over the real value of its component precious metals.
- Mark O’Byrne

Diamonds tend to go up and down with the value of the stock market.
- Lisa Hubbard

Useful links:
www.gold.ie
www.bundesbank.de
www.federalreserve.gov
www.sothebys.com

Mark, I completely agree with you. When it comes to selling the jewelry bought as an investment, the re-sale jewelry would not normally realise more than 30% of its original cost price. Most jewelers do not consider buying back items they have sold, forcing the owner to seek a new buyer in pawnshops.

Art Update

The Mauerbach Scandal
http://www.artnewsonline.com/issues/article.asp?art_id=2626

Useful links:
www.mak.at/e/jetzt/f_jetzt.htm
www.christies.com
www.belvedere.at

It was educational/insightful. Thank you Konstantin.

Pick-A-Pearl

Pick-A-Pearl Concept = Customers have the opportunity to participate in the creation of their own jewelry by picking an oyster guaranteed to have one or two pearls inside and to use those pearls in the design of their jewelry.

Useful link:
www.mauidivers.com

Global Business @ BBC

Peter Day's World of Business reviews the state of the Chinese economy/impact by the global credit crunch + the emergence of a new economic happening--the rise of Chinese consumer society @ http://www.bbc.co.uk/worldservice/programmes/global_business.shtml

Abu Dhabi Art Update

An Oasis in the Desert
http://www.artnewsonline.com/issues/article.asp?art_id=2627

Useful links:
www.guggenheim.org
www.louvre.fr
www.qma.com.qa
www.adach.ae

We shall wait and see how the cultural landscape of Abu Dhabi unfolds in the coming years. It's really breathtaking. I think it's a new model of cultural exchange in the Middle East.

Heard On The Street

Humility is the new competence.

Random Thoughts

Confidence grows at the rate a coconut tree grows, and it falls at the rate a coconut falls.

- Montek Singh Ahuwalia, Deputy Chairman
Planning Commission of India
http://planningcommission.nic.in

Spot on. He is definitely one of the wise old men of global finance.

Art Update

Meditations on Asia in American art
http://www.iht.com/articles/2009/02/02/arts/asianart.1-419270.php

Useful link:
www.guggenheim.org

A must visit. It's immersive, different, and transcendental. Thank you Holland for the info.

Lithium + Bolivia

Bolivia has lithium, and the president intends to make world pay for it
http://www.iht.com/articles/2009/02/02/america/lithium.4-421488.php

Useful link:
www.comibol.gov.bo

It was interesting to learn that almost half of the world's lithium, the mineral needed to power the vehicles, the biggest untapped potential for lithium, is found in Bolivia.

Ring Tutor

Ring Tutor provides diamond evaluation/recommendation service to help consumers buy diamonds online. Go to www.ringtutor.com for further info.

Entrepreneurship Update

The Success of Persistent Entrepreneurs
http://hbswk.hbs.edu/item/5941.html

Useful links:
www.people.hbs.edu/pgompers
www.people.hbs.edu/jlerner
www.people.hbs.edu/dscharfstein

Great advice.

Moving Theater

In the Subway, Moving Theater, in More Ways Than One
http://www.nytimes.com/2009/02/02/nyregion/02underground.html?_r=1

This is an interesting, innovative and inexpensive way of using public spaces to display art.
- Julie Funk

Useful link:
www.subwaytheater.com

What a brilliant idea! I loved it.

Winza-Tanzanian Ruby Update

Research on the new Winza-Tanzanian rubies
http://www.gemresearch.ch/news/Journal7DVD/ContributionNo.7.pdf

Useful link:
www.gemresearch.ch

Interesting + educational.

Random Thoughts

Stepping outside your areas of competence is often a seductive siren song, but we’ve learned from experience not to listen anymore. Without the confidence that comes from experience and the ability to recognize patterns, the risk is higher that you’ll overpay or sell too soon in a panic.

- Shawn Kravetz
http://esplanadecapital.com
www.valueinvestorinsight.com

Spot on.

Party Across America

Explore places you have never been www.partyacrossamericabook.com

Treasure Quest

Legendary British warship 'found'
http://news.bbc.co.uk/2/hi/europe/7863840.stm

Useful links:
www.shipwreck.net
http://dsc.discovery.com/tv/treasure-quest/treasure-quest.html

Marine exploration is definitely a fascinating immersive experience.

Jim Letourneau

Global meltdown will impact a lot of commodities
http://www.commodityonline.com/news/Global-meltdown-will-impact-a-lot-of-commodities-14694-3-1.html

Useful link:
www.jimletourneau.com

Interesting perspective. Short-term bullish, medium-term terrified and long-term bullish. Makes sense, really.

Pink Diamond Treatment

Pink Diamond Treatment
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=25131

Useful links:
www.gubelinlab.com
www.ism.kiev.ua
www.sedkrist.de

Treated diamonds are difficult to identify with standard gemological tools. If in doubt always consult a reputed gem testing laboratory.

The Pico Projector

The Pico Projector
http://www.time.com/time/video/?bcpid=1485842900&bctid=6714632001

Useful link:
www.optomausa.com/Product_detail.asp?product_id=399

Brilliant! I liked it. Thanks Josh.

Cultured Pearls + X-ray Microtomography

Visualization of the internal structures of cultured pearls by computerized X-ray microtomography
http://www.docs.i-version.com/?id=QLSMQFB7&page=7&size=2
http://www.gem-a.com/publications/journal-of-gemmology/samples.aspx

Useful link:
www.gem-a.com

Great article. It was educational and insightful. Thank you Gem A.

Cubic Zirconia Masters In Diamond Color Grading

A place for CZ masters in diamond color grading
- Michael D Cowing
The Journal of Gemmology/2008/Volume 31/ No.3/4

Abstract: Over the last 20 years and despite recommendations to the contrary, many gemologists are appraisers have gravitated to the use of cubic zirconia (CZ) master stone sets to assist in the color grading of diamonds. This investigation revisits with new insight, diamond grading technique and methodology. It addresses the judicious use of CZ master stone sets to augment diamond masters that are smaller in size and number. Study results support the use of accurately graded, carat-size CZs in reducing the subjectivity of color grading when only incomplete (every other grade) diamond master sets of small (under 0.4 ct) sizes are available.

Useful link:
www.gem-a.com

I think it was interesting to learn why CZ masters have found a place in the color grading of diamonds in the trade/labs. If effectively used/periodically checked for retention of accuracy CZ masters are practical/functional.

How To Succeed In Business

Company Way, How to Succeed in Business, Robert Morse
http://www.youtube.com/watch?v=DGhTr8lDCV0

Useful links:
http://us.imdb.com/title/tt0061791
http://en.wikipedia.org/wiki/How_to_Succeed_in_Business_Without_Really_Trying

One of the best satirical musical comedies of the 1960s + a scathing indictment of the business culture + the story is as valid today as it was in 1960.

On The Money

In Tough Times, Finding the Humor in Value
http://www.nytimes.com/2009/01/31/arts/design/31cart.html

- No health or dental, no stock options, and no severance package. We do, however, provide free burial at sea! (Ziegler, 1996)

- Well, we’ve licked taxes. That just leaves death. (Lee Lorenz, 2002)

Useful links:
www.themorgan.org
www.newyorker.com
www.cartoonbank.com

Thank you Edward. I collect cartoons because they have an almost timeless character, really.

Bill Cunningham Viewpoint

On the Street The Water Dance
http://www.nytimes.com/interactive/2009/01/31/fashion/20090131-street-feature/index.html#

On the Street The Fabric of History
http://www.nytimes.com/interactive/2009/01/24/fashion/20090125-street-feature/index.html#

I love to see wonderfully dressed men/women, and I still do. That's all. Thanks Bill.

Lucio Fontana Update

Venetian interlude
http://www.economist.com/opinion/displayStory.cfm?story_id=13047550

Useful links:
www.sothebys.com
www.fondazioneluciofontana.it
www.museenkoeln.de
www.ludwigmuseum.hu

We may know the state of mind of the many Fontana collectors on February 5, 2009 at the auction.

Venice Goes Online

Venice has gone online. Visitors can book a range of services online + get a discount if they plan their visit during off season months. Go to www.veniceconnected.com for further info.

Quartzsite 2009

Gem Hajj at Quartzsite
http://www.colored-stone.com/stories/jan09/quartzsite2009.cfm

Useful link:
www.qiaaz.org

Being at Quartizite is an immersive experience. Thank you Jordan.

Diamond Market Update

Watch the Emerging Diamond Funds
http://www.idexonline.com/portal_FullEditorial.asp

My view is the promoters of diamond funds have come up with a new way of injecting liquidity, but many investors may not know what they are investing in. I hope we are not creating mini-Madoff's in the diamond sector with dubious returns on investment (s).

Random Thoughts

A[n] argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit? You know the prose: 'Maintain buying reserves until current uncertainties are resolved,' etc. Before reaching for that crutch, face up to two unpleasant facts: The future is never clear [and] you pay a very high price for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.

- Warren Buffett
www.berkshirehathaway.com

Spot on.

Music/Trading Link

What Makes Pop Music Popular? - From History's Hidden Engine
http://www.youtube.com/watch?v=S-BuS7cokyk

Useful link:
www.socionomics.net

Brilliant visual.

Art Market Update

Vigorous bidding for Old Masters reflects sea change in market
http://www.iht.com/articles/2009/01/30/arts/melik31.1-418622.php

Useful links:
www.christies.com
www.sothebys.com

At times art markets can surprise you with its unique resilience. Money is flowing, amazingly. Thank you Souren for the insightful story.

Neil Lane

One hour with jewelry designer Neil Lane
http://www.heralddeparis.com/one-hour-with-jewelry-designer-neil-lane/20361

Useful link:
www.neillanejewelry.com

Neil is of the most innovative jewelry designers in the world + his jewelry does not come cheap. He has created his own market. Hats off to Neil.

Weird Beauty

Weird Beauty: Fashion Photography Now
http://www.washingtonpost.com/wp-dyn/content/gallery/2009/01/30/GA2009013002008.html?hpid=artsliving

Useful link:
www.milesaldridge.com

Definitely different!

Treasures From Shanghai

Treasures from Shanghai: ancient Chinese bronzes and jades
http://www.britishmuseum.org/whats_on/future_exhibitions/treasures_from_shanghai.aspx

Useful links:
www.shanghaimuseum.net
www.britishmuseum.org

A must visit.

Sustainable Consumption

Taboo Talk in Green Business: Buy Less Stuff
http://www.greenbiz.com/feature/2008/12/22/taboo-talk-buy-less-stuff

Useful links:
http://wbcsd.org
www.pnas.org

I think the idea of consuming less requires change of attitude, really. Our need for keeping up with the Joneses has been embedded within our culture for so long, it's not easy to give up. We need to be deconstructed/reeducated to understand the meaning of consumption and happiness, and the impact.

Heard On The Street

I have personally been on the phone asking to my suppliers to give me a better price. My customers are refusing to pay full price. I want to be more democratic than any of my competitors. I don't want to be made a fool of. Help me. Help me now.

Vladimir Putin’s Painting

Putin’s First Painting Raises 37 Million Rubles for Charity
http://www.bloomberg.com/apps/news?pid=20601088&sid=atZSpgW_p9tc&refer=muse

Useful link:
www.kournikovagallery.ru

Staggering price, really. The economic crisis has not ended some rich Russians’ desire for good deeds.

Jewelry Market Report France

According to Antiques Trade Gazette, the French government has lowered the value added tax (VAT) on 'rare' or 'high-value' jewelry imports from 19.6 percent to 5.5 percent effective immediately. Go to www.antiquestradegazette.com for further information.

Martin Rapaport Viewpoint

Stall and Spin
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=25082

Martin, I completely agree with you.

Life Without Lawyers

Life Without Lawyers: Liberating Americans from Too Much Law by Philip K. Howard is great book about a society that has far too much law minus commonsense/soul. A must read.

Useful links:

www.philipkhoward.com

http://commongood.org

Padma Lakshmi Jewelry Collection

Meet Padma Lakshmi + learn more about her line of jewelry @ www.padmalakshmi.com

Gold Purity Check

Gold adulteration with iridium rampant in India
http://timesofindia.indiatimes.com/Gold_adulteration_with_iridium_rampant_in_India/articleshow/4049562.cms

Useful links:
www.bombaybullion.com
www.bis.org.in

You may have to use Energy Dispersive X-ray Fluorescence (EDXRF) spectrometer + Laser-Induced Breakdown Spectroscopy (LIBS) for definitive identification. The analytical techniques are expensive/reliable if properly calibrated/used by trained professionals.

Vik Muniz

Only Connect
http://www.newyorker.com/arts/critics/notebook/2009/01/19/090119gonb_GOAT_notebook_scott

Useful links:
www.vikmuniz.net
www.moma.org

Brilliant. Seeing is believing. A must visit.

Gemstone Treatment (s) Update

A Dark Hour for Gemology: The Diffusion Debacle
http://www.colored-stone.com/stories/jan09/gem-diffusion.cfm

Useful links:
www.schoolofgemology.com
www.colored-stone.com

Thank you Dave. Detection/discolusure will be always an issue in the trade. No one knows where to draw the line.

Art Market Update

Christie's auction nets a surprising $2.54 million
http://www.iht.com/articles/2009/01/28/arts/melik29.1-417464.php

Useful links:
www.christies.com
www.nationalgallery.org.uk

Souren, I agree with you. My view is let buyers determine the prices.

Gold Report

Global gold production is worth $3.5 trillion
http://www.commodityonline.com/news/Global-gold-production-is-worth-$35-trillion-14593-3-1.html

Useful links:
www.explorationinsights.com
www.theaureport.com
www.gril.net

Insightful. Gold is the real money.

Dubai Shopping Festival

UAE/Gulf nations are in a customer-friendly spree to counter recession effects as financial crisis hits affluent tourists who frequently visit the region for luxury goods. The gem and jewelry sector/other retail sectors are offering mouth-watering discounts to woo back the customers at any cost. Go to www.mydsf.com for further info.

Special Features in Tourmaline

Pink in Tourmalines from Natural Irradiation
http://www.jckonline.com/article/CA6633042.html?desc=topstory

Useful links:
www.gia.edu
www.microworldofgems.com

Great information on pink tourmaline/inclusion.

Special Effects In Movies

Making it big in the movies
http://news.bbc.co.uk/2/hi/technology/7853461.stm

Useful link:
www.liberty-films.co.uk

Great advice.

Kenji Ikemoto

Architect Designs Sony's Virtual World
http://www.businessweek.com/globalbiz/content/jan2009/gb20090123_837565.htm?chan=innovation_game+room_top+stories

Useful links:
www.us.playstation.com
www.nemetschek.net

Definitely a fun place to form communities.

Kurt Jackson

Kurt Jackson = Paintings reflect natural history, ecology and environmental issues.

Useful links:
www.kurtjackson.co.uk
www.messums.com

ICA Mini Gem Show

The International Colored Gemstone Association (ICA) will host the ICA Mini-Gem Show during its ICA Congress in Panyu, China, on May 9, 2009. The events will focus on new business opportunities in the gem and jewelry market in China.

Useful links:
www.gemstone.org
www.panyuicacongress2009.com

Marc Jacobs

Watch Marc Jacobs + Men in kilts @ www.marcjacobs.com

Stunning designs, really. Skirts for men were tried in the 80's, a bold identification, but will it work now? We shall wait and see. Hats off to Marc.

David Brooks Viewpoint

What Life Asks of Us
http://www.nytimes.com/2009/01/27/opinion/27brooks.html?_r=1&em

Useful link:
http://topics.nytimes.com/top/opinion/editorialsandoped/oped/columnists/davidbrooks

A brilliant opinion piece.

World Economic Forum 2009

- A beginners' guide to Davos
http://news.bbc.co.uk/2/hi/business/davos/7201300.stm

- Global crisis talks move to Davos
http://news.bbc.co.uk/2/hi/business/davos/7830633.stm

Useful links:
www.weforum.org
www.youtube.com/user/WorldEconomicForum

It would be interesting to see how the powerful elite that flocks to Davos every year behave/interpret events in 2009. Many have lost their shirt and credibility with the economic meltdown. Hopefully the events will offer them a chance to step back and take stock of crisis and conflict, and gather ideas for tackling the world's problems.

Global Business @ BBC

Peter Day's World of Business reviews what the likely business and economic landscape will look like when the dust of collapse filling the business world’s eyes and ears finally clears @ http://www.bbc.co.uk/worldservice/programmes/global_business.shtml

Useful link:
www.csfi.org.uk

Thank you Peter. I thoroughly enjoyed the programme.

Proto.in

Proto.in = India’s largest start-up showcase event.

Useful link:
www.proto.in

My view is the organizers of Proto.in should diversify focus, which for now is on IT and related segments. I suggest the future events include ideas/innovations beyond IT which in turn provides equal opportunities/hope for start-ups of all sectors.

Survival Psychology

What It Takes To Survive
http://www.newsweek.com/id/181290/page/1

Luck is not a magical ability or a gift from the gods. Instead, it is a state of mind—a way of thinking and behaving.
- Richard Wiseman

Useful links:
www.psych.lancs.ac.uk/people/JohnLeach.html
www.richardwiseman.com
http://viscog.beckman.uiuc.edu/djs_lab
www.psych.uiuc.edu/people/showprofile.php?id=11
www.thesurvivorsclub.org
www.resiliencycenter.com/albio.shtml

I found the interpretation (s) on luck very interesting.

Carbon Comparison

Carbon comparison site launched
http://www.guardian.co.uk/travel/blog/2009/jan/26/carbon-comparison-site-launched

Useful links:
www.thecarbonconsultancy.co.uk
www.globaltravelmarket.co.uk
www.responsibletourismpartnership.org

Great essay. Thank you Leo.

Neil Gaiman

'The Graveyard Book' Wins Newbery Medal
http://www.nytimes.com/2009/01/27/books/27newb.html?_r=1&8dpc

Useful links:
www.neilgaiman.com
www.ala.org
www.bookscan.com

Congratulations + Hats off to Neil.

Visible Music

Making music to Rothko's murals
http://news.bbc.co.uk/2/hi/entertainment/arts_and_culture/7847356.stm

Useful links:
www.jimaitchison.com
www.tate.org.uk

I think music unifies the experience of mind and body. Brilliant visual and sound. I enjoyed it.

Burma Ruby/Jade Law Update

(via JCK Online) The Burma Task Force, JVC, the American Gem Trade Association, and Jewelers of America, has released guidance on the steps importers and exporters must follow to import non-Burmese rubies and jadeite. It includes:

- Importer Obligations - Under the new regulations, importers continue to be required to certify that their rubies and jadeite were not mined or extracted from Burma. The importer certification is created through the use of new Harmonized Tariff Codes.

In addition, exporters are obligated to assure that Burmese rubies and jadeite are not intermingled with non-Burmese origin rubies and jadeite. Importers are required to secure a written certification from the exporter stating that the rubies and jadeite were not mined or extracted from Burma. The exporter must also provide 'verifiable evidence' that tracks (if exporting rough) the rough from mine to place of first export, (if exporting polished loose gems) from mine to place of final finishing, and for finished jewelry, from mine to place of final finishing of the article of jewelry.

Exceptions to these provisions include re-importation of rubies and jadeite (or jewelry containing the same) that were in the US prior to September 27, 2008 (if re-imported by the same entity or person who exported them originally from the US, as long as they have not been advanced in value) and those imported for personal use.

- Recordkeeping Obligations - Importers of non-Burmese rubies and jadeite must maintain records for five years pertaining to each transaction in covered articles. These records include complete information regarding purchase, manufacture or shipment of covered articles and the exporter’s certification. Importers are required to produce such records upon request by CBP. This includes maintaining the exporter certification and the statement regarding verifiable evidence indicating the source of rough, polished or finished jewelry, depending on which was imported. 'Verifiable evidence' could be an exporter’s warranty stating the country of origin of the covered articles, the place in which they were polished and the place where they were manufactured into jewelry. Such a warranty should also include a statement that the exporter has available records which corroborate the statement in the warranty.

- Responsible Employee of the Exporter - Importers and exporters are required to name on the invoice a responsible employee of the exporter who has or can obtain knowledge of the transactions. The information that this employee should have access to includes: the verifiable evidence of the source and movement of the covered articles.

Useful links:
www.jvclegal.org
www.agta.org
www.jewelers.org
www.cbp.gov
www.govtrack.us/congress/bill.xpd?bill=h110-3890

America's Best Jewelers Network

America's fine jewelry retailers have launched the ABJ Network, a social-networking site to increase communication among retail jewelers. Great idea.

Useful link:
www.abjnetwork.com

When will the fine jewelers in India launch a similar social networking concept?

Visual Illusions

Sculpting the Impossible: Solid Renditions of Visual Illusions
http://www.sciam.com/slideshow.cfm?id=sculpting-visual-illusions

Truly brilliant. I liked it.

Technology Update

Bend me, shape me, anyway you want me
http://www.economist.com/science/displayStory.cfm?story_id=12971020

Useful links:
http://flexdisplay.asu.edu
www.plasticlogic.com
www.liquavista.com

If they are designed to be recyclable, then these brilliant breakthrough technologies deserve the support.

Random Thoughts

Human beings are subject to wild swings in their levels of fear, risk tolerance and greed. That won’t change. I base my whole approach on buying when others are fearful and selling when others are greedy. The reason Shakespeare is so relevant still today is that his plays were all about human nature, and human nature never changes.

- Mark Sellers
www.sellerscapital.com

Rightfully true.

Gold 2009

What You Need to Know About Gold
http://online.wsj.com/article/SB123284319920613125.html

Useful links:
www.everbank.com
www.mfglobal.com
www.credit-suisse.com
www.pamp.com
www.apmex.com
www.bostonbullion.com
www.kitco.com
www.gold.org

Buying gold is always a very good idea. Like every other asset class, gold goes through periods of appreciation and depreciation, yet gold holds its value rather well. Finally gold still represents the ultimate form of payment in the world so I like it.

Green School

A Greener Education in Bali
http://www.time.com/time/travel/article/0,31542,1873213,00.html

Useful links:
www.greenschool.org
www.johnhardy.com

Inspiring concept + thoughtful design.

University Of The People

On the Internet, a university without a campus
http://www.iht.com/articles/2009/01/25/technology/university.4-415520.php

Useful links:
www.uopeople.org
www.ocwconsortium.org
www.open.ac.uk
www.sloan-c.org
www.cramster.com
www.sloan.org

I think Shai Reshef is definitely a visionary. Best wishes.

Cash Is King

Cash Is King
http://www.valueresearchonline.com/story/h2_storyview.asp?str=12597

Great essay. Thank you Sanjeev.

Jewelers Alert

I came across an interesting website today called Jewelers Alert, a portal where jewelry companies are able to comment on a specific company regarding lost money, late payment or theft. Great idea. I hope the open communicaton system is not abused for personal reasons, because at times it's difficult to check the true facts of anonymous commentators. Check out the link at www.jewelersalert.com

Bargaining In Bangkok

Haggling with Attila the Hun
http://www.bangkokpost.com/life/family/10393/haggling-with-attila-the-hun

Bargaining when shopping is a way of life in many parts of Asia, and Bangkok is no exception to this. I have a different opinon about farangs in Bangkok. At times they are pennywise pound foolish, really.

Jonathan Harris

Meet Jonathan Harris, the visual artist/designer @ www.number27.org

Useful links:
http://thewhalehunt.org/whalehunt.html
http://metascopic.com
www.tivo.com

Heard On The Street

Sure the markets are down now, but wait a few years. When the economy takes off, it's going to make your head spin again. Its been in cycles like this for all of history. Don't cry. Get on with your life. There is always a tomorrow.

Art Market Update

Scattered to the winds
http://www.economist.com/opinion/displayStory.cfm?story_id=13003395

Useful links:
www.christies.com
www.sothebys.com
www.fondation-pb-ysl.net
www.grandpalais.fr

What is more secure today than a timeless masterpiece with an illustrious provenance? We are cautious, but we expect some world-record prices.
- François de Ricqlès

Beauty and value is in the eye of the beholder. We shall wait and see how events unfold in the coming days/weeks.

Bernard Madoff Update

The Talented Mr. Madoff
http://www.nytimes.com/2009/01/25/business/25bernie.html?_r=1&hp

Some of the characteristics you see in psychopaths are lying, manipulation, the ability to deceive, feelings of grandiosity and callousness toward their victims. People like him become sort of like chameleons. They are very good at impression management. They manage the impression you receive of them. They know what people want, and they give it to them.
- Gregg O. McCrary

Shockingly true. I have met a few Madoff's in my life. I think it's either genetic defect, unexplainable mental disorder or plain revenge of the first order. It's water over the dam situation. It's over. He is in his seventies, and he doesn't care about the consequences. He enjoyed the high life, and may be prefers to see the endgame done alone. A hard lesson for everyone.

The Psychopathic Mind

The Psychopathic Mind: Origins, Dynamics, and Treatment by J. Reid Meloy is insightful and practical. This is a classic/must read.

Useful link:

www.paladinnegotiations.com/security/psychological.html

Diamond Industry Update

Diamonds scary outlook
http://www.mineweb.net/mineweb/view/mineweb/en/page37?oid=77195&sn=Detail

Useful link:
www.rbccm.com

Cash is King again. Even the likes of De Beers/Rio Tinto are learning lessons hard way.

Offshore Wind Power Technology

World's toughest wind turbines set to make debut off Germany's coast
http://www.guardian.co.uk/environment/2009/jan/23/wind-turbines

Useful links:
www.multibrid.com
www.carbontrust.co.uk
www.alpha-ventus.de
www.bwea.com
www.energytechnologies.co.uk

I think functional innovation in offshore-specific technologies will significantly advance renewable energy sector driving down costs and future development.

Rogue Traders

Rogue traders who went off the rails
http://www.ft.com/cms/s/2/2d78785c-e755-11dd-aef2-0000779fd2ac.html

At any given time there exists an inventory of undiscovered embezzlement in – or more precisely not in – the country’s businesses and banks. This inventory – it should perhaps be called the bezzle – amounts at any moment to many millions of dollars. In good times, when people are more relaxed and money is plentiful, the bezzle grows. In a depression, it shrinks. As a financial system disintegrates, the capital cushions that mask the bezzle vanish.
- John Kenneth Galbraith

It’s only when the tide goes out, you find out who’s swimming naked.
- Warren Buffett

Useful link:
www.rdicoaching.co.uk

The unfolding events in the business world shows lessons have not been learned, really. Looks like there will be more to come.

Heard On The Street

Give better service than people expect.

Crowd Behavior

A Crowded World: Researchers use computer scenarios to study crowd behavior in time and space
http://www.webwire.com/ViewPressRel.asp?aId=83577

Useful link:
www.nsf.gov

Interesting tipping points.

Exploring Coffee

The Digital Ramble Coffee
http://themoment.blogs.nytimes.com/2009/01/23/the-digital-ramble-coffee

Useful links:
http://coffeegeek.com
http://ratemyrosetta.com
www.christophniemann.com
http://ecomm.davidlynch.com/catalog/coffee_house.php

I am a huge fan of coffee. I enjoyed it. Thank you Rosecrans.

The Winter Antiques Show

A Winter Wonderland of Old and Modern Invites Meandering
http://www.nytimes.com/2009/01/23/arts/design/23wint.html?_r=1

Useful link:
www.winterantiquesshow.com

A must visit. Allow your eyes to selectively absorb the widest possible variety of objects.

Jewelers Of Europe

Jewellers of Europe NV has launched The 'Top 100', a useful handbook of top jewelry retailers in Europe and the jewelry market landscape. Go to www.jewellersdirectory.eu/top100 for further info.

Useful link:
www.jewellersdirectory.eu

India: Retail Diamond/Jewelry Update

Diamond industry to bounce back soon
http://economictimes.indiatimes.com/Features/The_Sunday_ET/Special_Report/Diamond_industry_to_bounce_back_soon/articleshow/3995448.cms

Useful links:
www.ckcsons.com
www.gjepc.org
www.debeersgroup.com
www.orra.co.in
www.rosyblue.com

My view is the wedding market in India is huge, amorphous, and surprisingly recession proof. So most well-known jewelers will do well.

YouTube/Vatican

It was intriguing to see the Pope on YouTube welcoming viewers that knows no borders to get involved via dialogue of truth. Go to www.youtube.com/vatican for more info.

Useful link:
www.vatican.va

Bernar Yslaire

The Louvre embraces comics for first time
http://www.iht.com/articles/ap/2009/01/22/arts/EU-France-Comics-In-The-Louvre.php

Useful links:
www.louvre.fr
www.yslaire.be

I think the diversity of art creates new forms and mediums to connect the dots. A must visit.