UCLA 1976-77

January 26, 1977

Dearest Brother and Sister,

I received the pleasantest of surprises on Monday afternoon, (1/25) in the form of a letter from Reuven (dated 1/14) and yesterday morning a letter from Judy (dated 1/18). Thus my midweek letter will be able to relate to you and offer some direct feedback to thoughts from you. These thoughts were quite enjoyable and stimulating and fairly representative of where I imagine that you are at.

My week is studying, classes, and pressure. It takes my entire personality to keep me from despair and irritation about my perceived inadequacies. I read the Sunday NYT. This week little other non - academic stimuli will travel through my brain cells, which brings us to the role of your letters in my mental equilibrium.

In response to your aerogrammes, Reuven: The idea of your renting an apartment (with Carl?) sounds quite appealing. Your aerogramme was as productive and generally positive as any recent letters. You sound like you want a piece of that particular community, and employed (?) Dad will be writing it off as a business expense, so the deal, is settled. Thank you for the comments on my letters. I work at them and am thus pleased that the effort is noted. (Yehudit, "are these being -saved?). As for the "float”, I will deal with that in a lecture to Judy, later in this letter. I do wish that both you and Judy will read all three of the books that I sent and respond. There is much in the Ephron book that you will enjoy (As an aside, the, most disappointing aspect of it for me was the first piece on "Breasts" wherein concluding she demonstrates her lack of empathy and ability to transcend her consciousness to merely have pity, (rather than the contempt that she displays) on lower-consciousness large-breasted women. (I should interject though at this, point that I speak somewhat hypocritically as my own sexual frustrations bias my objectivity on the above mentioned subject, and thus my own empathetic capabilities relating to Ephron are brought into this quagmire)

Judy, first of all note that my zip' code is 90024, not 34. It seems that the cassette package that I sent had a little bit of what everyone wanted. By the time, this aerogramme arrives, you should have received a package of approx. 6 NYT Book reviews. There is a true library of information in them and I trust that you will virtually devour them from cover to cover. I generally skip the "New and Novel" and "Criminals at Large” sections but I am sure "to read the trade sections at the end of the paper." I also" fairly regularly skip novel reviews.

As for sexual liberation, I seem to recall little conscious thoughts on the role of women other than as distant individuals who in my fantasies gratified me sexually. The awakening catme sometime during college (and marijuana) when 1 woke up- to a non ego-dominated reality. The trouble with most of us males is the lack of ability to call a fantasy by its true name. Repression of reality starts with what isn’t and attempts to mold what is, which brings us to this weeks lecture topic, “Transaction Costs”.

We start, as with most sociological overviews) with that ancient Judaic philosophy of One God. As I must have said previously (actually this whole spiel is a repeat, but since you have not acknowledged incorporation or even recognition at the previous mentionings, I feel obligated to repeat them as well as filling up this aerogramme), I enjoy Einstein’s articulations of God as a universal thread. To attempt to understand that thread (the essence of Judaism) is a requirement to
continually reexamine values. This re-examination requires getting from A to B. The process is consciously determined and should have various stages of fulfillment and completion. What hinders you from getting and setting your goals as well as achieving them and ascertaining their merits shall for the purposes of articulation be deemed "Transaction costs. The first illustration by way of example is your "head" friend who perceived himself as less than whole until he got laid. (the subsidiary lesson is the reinforcement of the phenomena that "There ain't no free lunch," as you somewhat perceived. Your relationship with Haim provides you with perceived incongruities. (From what you write) your state of mind when "with" him has different objectives than when not "with" him. The, irony of all protection is that any censorship is ultimately self-defeating. If you do not expose yourself to the entire range of human experience and deal with the hardships and transaction costs that it entails, reality takes on a “sugar coating.”

Life is full of ironies, starting with the most trajic aspect of life, aging and possibly running right on through the surreddering of the will (as is Christianity and Marzism (2 Jewish perversities)) and in dominating/dominated relationships where repression runs rampant and the institutionalized behavior is libidinal in nature rather than dogmatic in form.

As for getting high, I am at the point where I do not know whether it compounds or abates my anxiety. I am convinced (through numerous substantiating independent sources) that marijuana is (and consequently I am) not physically and psychologically addicting. However, the truth remains that I get high often. Along with the patience, humility and imagination that is inspired by smoking there comes a certain dulling of the sense. Other reactions are less systematic.

I have moved to Walter’s desk as it is larger and has more unpersonal Euclidean space surrounding it. Part of my depression is an awakening to the entire range of academia. Controlled aggression is paradoxical because it must be directed inward in attaining the necessary self-discipline required for study. Thus, internal tranquility is required to willfully direct the internal discipline.

Since I am unattached, attaining internal tranquility through the evolutionarily logical means of a mate remain unobtainable. Even if that state were to arrive, I doubt that I would abandon my current outlet, jogging. I reach this conclusion by observation of my peers and superiors. The preponderance of jogging professors in Finance relative to other disciplines is astounding. Their arriving at the same means of expending excess energy, and acknowledgement of the distinction between animalistic and intel1ectual reality reinforces my convictions that I am in an optimal position.

Dr. Weston is in Wash DC tonight for an industria1 organization (his specialty in economics) all-star conference) meaning that I can (and have) write and study. I must now proceed with the later.

(A secondary reason for my dersiring of the academic life is the inherent “procreation” of a public good (e.g. idea). I will not be whole (able to contemplate death) until I have procreated)



Dearest brother and sister, I received two letters from Israel in the afternoon batch. One was an aerogramme from Judy mailed on 1/11 which evidently traveled by surface because the enclosure (Reuven's famous missing "down" letter). The other piece was a letter from Reuven hopefully marking the birth of an up period.

The quandary that I perceive most immediate for you REUVEN is the liberation of the renaissance and industrial revolution. My only response is to hopefully be­come more human by processing information. I suppose 95% of the world currently deals with assets, but it will not be too long before the ratio is switched and the $5% figure represents the opposite, dealers with facts. The farther away from ideas that you position yourself in, the more easily you can become obsolete. I can only give you my standard hype. Fin (Eco-Math) is moderately easy, remunerative, and rewarding. I have abandoned hopes for a position at Heb. Univ. as they are naturally the creme of the crop. Well, it's not the end of my goals.

At this time you should also be receiving my letter with the Doonesbury's. I await your response, as well as one from the long sought after Crazy Salad . Judy, please maintain a vigilant watch over your Resnick incoming mail as I have a third package addressed to you there (most multidimensional to-date).

Reuven, you have to make sure that you remove the mysticism from "science." The rate of technological chanqe is certainly increasing and you fall into the above trap (eg LL).

The funny part about your leaving Gazit,for me, is that I never got there. It is just a memory that we will never share. My suspicion is that Judy is not too sad abut the move.
I really enjoy how well you couch the pain of living alone. I, too, am preoccupied with a single's reality.
Group consciousness is certainly minimal in my environment. The efforts at establishing a community appear marginally negative here. Finally, I want explicit confirmation that you read the Option piece by Galai and Masulis (included in the multi-media package).
The UCLA basketball team is hot and beating Louisville in a first round game by 9 pts. They could go all the way as Marques Johnson was named top college player by just about everyone.
Be well. Love,

February 12, 1977

Dear Family,

Greetings on the weekend. This past week has been extraordinarily draining and I am glad that the Sat. and Sun. bring an automatic renewal. Life at GSM is generally markedly more pleasant when the facilities serve fewer people. I sup-pose this implies that its occupants are external diseconomies, a distressing thought.

My recollection of the weeks events is decidedly lopsided towards Wed-Fri. As previously mentioned the early part "floats" by in a cloud of academic pressure, I am performing adequately for DrW, and in Quant. Econ., the nature of the unkn­own is quite well defined and the anxiety minimal. It is Econ theory, where the demands ate endless that I am in a panic over. Prof. Welch teaches math and preaches intuition. His lectures are highly disorganized because the subject matter is intellectually rigorous and his lecture format lacks the methodical discipline that his limited style requires.

Thursday was my Mid-Quarter Respite. The affair was quite successful, as 43 people attended. The Profs showing were: Lippman (Doctoral Dean), Roll, McKelvey (Human Systems; On the three member research paper committee, of whom two must approve my research paper (to be submitted within three years of matri- culation)),and Jones (Current and future (if I stay in this particular sequence) Quant Econ. Three administrators showed: Departmental Secy's Becky and Mary, -and Doctoral Office head Pat Riley, ( In the interests of neutralizing my sexism, Mary's last name is Blackburn [I think]). The student population's notable parameters were: approx half ware Grad Econ, 3 were women: Harry's wife Marta, the wife of a classmate, and a fellow PhD student (an ardent Iranian Nationalist); 5 were Israeli (including Michael Hoffman). All. of my office-mates: attended.

Harry brought 2 fifths of wine, Becky- 2 cheeses, Ken Nelson, the colleaguewho came with law-school-student-wife Kathy brought Hardtack and Cheese, and thefollowing two office-mates: Brian, half-gallon of Almadden Rhine and Ed, paperplates, a fifth, and some cheese and crackers. I provided pears, apples, andbananas, sliced cucumber and tomato, assorted crackers and cheeses, previouslymentioned wine and beer, and finally 1/3 loaf of homemade bread. Practicallyeverything but a few crackers and some Rose were devoured in 30 minutes. . Thecrowd correspondingly broke up and the last of the hard core left at 5:10 whenAbe, the janitor, kicked us out.

I had a good time and I feel confident that every-one else also did. I imagine that I will institutionalize it at least annually.

This past week saw the expiration of my VW motor 6 month warranty. I was naturally just getting ready to take it in to be looked at (as the same problem that blew the last one [a poorly designed cylinder which gets insufficient oxygen] is beginning to appear. My pocket-watch stopped working this week, and yesterday while jogging I broke the frame on my glasses immediately above the nose pad. Needless to say I have been feeling extremely frustrated over the rapid depreciation and phenomenal level of disrepair of my scanty assets. This week I also experienced a larger than average frustration over my lack of "roots". aggravating my already week mental equilibrium.

Have no fear, as today was fairly productive indicating normality is just around the corner. Last night I played Scrabble and listened to music with Dan. Afterwards, I dropped in on a party near my residence and felt relatively pleased that my level of awareness exceeded that of most (if not all) of the attending mob's.

The weather is unseasonable hot and dry. Today It must have been 85 F, Yesterday on page 1 of the L.A. Times was a feature story of the winters havoc wrecked on Ohio's effort to maintain its industrial base (and implicitely its population). The article evoked quite a real response from this reader. The pollution has been bad all week as I rarely saw the ocean or mtns. while jogging. Fastest 4 miles of the week: 28:40 (yesterday). My current weight is an accept­able 140 lbs.

March 14, 1977

Dear Family,

I am at the final approach to the summit. The next seven days con­sist of the last of my classes and a first final (in Quant. Econ, mostly stat)i The previous!: nine weeks have moved along as expected and yet the whole exper­ience has been unsettling. Efficiency varied from good to inadequate, motiva­tion the same. The movement was barely a rate of progress. The expected expan­sion of analytical capabilities is sorely put to maintain equilibrium (i.e. comprehension). O.K. so on this note I launch this letter as a dash for the throne.

The weeks highlights were typically routine. My leg is practically healed and I resumed running. The cure was quite simple, though the learning process was marginally painful. After 9 months, my Bierkenstock "level healed sole" x left sandal and I could not communicate. The pain in my left leg (combined with the dilapidated condition of my Adidas Roms) convinced me to purchase the No. 2 ranked "Jogger Training", recommended by well-respected-runners-and-backpackers Harry and Ed Omberg (and criticized by an unknown source through Dan Leach), $19.99 Brooks Villanova.

The color is a somewhat hideous green polyester and suede with a yellow leather stripe and plastic "speed-o laces". They are indisputably well-venti-lated,comfortable, and efficient. Still, I miss my sandals. My toes liked the air. When I get around to fixing my earth shoe sandals, I'll give them another try. (The "speed-o" laces are friction-free and allow an optimal constant tension over the entire length with one pull after entry. Ed's more palpatable blue and red combination lack this feature)

The actual jogging is note overwhelmingly exciting. It is still a drudgery and a daily debate. My analysis runs as follows: The expended energy will leng­then my life and yet time is devoted to academics is probably as important to me now as it will ever be. Yesterday's 4 miles entailed a 3 hour nap and I am weak ended today (The miscalculation was the lack of a heat retaining top garment and an overwhelmingly cool March afternoon). I'll obviously have to totally ab­stain or be extremely careful as I cannot afford ill health at this time.

The past weekend's social function entailed an "off-campus" finale of Mgmt 299R. The affair took place at Fred Masserik's " " study, a 1920*s "pop-art" mansion. The house is at least 20 rooms and is divided into 4+ apts. Fred retains usage of the living room boudoir(?) and main study. Here I also saw* a phone hook-up for stock quotes and Fred's Red Caddy Convertible'. The more exposure I get to Fred, the more dichotomos his personality becomes. Even though he is a "5th floor type" (how we 6th floor Oper Res., Computer Info. Sys., Bus. Econ., and Finance snobs refer to the 5th floor Human Systems, Mgmt. Theory, Marketing. Intl Business, and Accounting Ph8 students and faculty (at least implicitly).

My latest scheme is to host a reception at this place (it really is fas­cinating) for Joel Stern. Short of that, a much more casual affair couldpossibly be arranged for the 5th floor commons. The affair's potential isactually quite high as corporate response would seem a possible input. Mailingcasual, offset printed invites to Fortune 500 CEO's and Chief Fin. Officersbased in L.A. could conceivably generate interest as Stern cuts quite a dynamicfigure. The initial step is clearly befriending the man. I am looking forward to the encounter next quarter.

No news in the Wash "dreamworld". It appears that Carter is taking his time to getting Williams through (as if to float him for while) which allows him more search time for staff as well as increasing anxiety works to my disadvan-tage. I have submitted the letter as revised and Dr. Jaffe was kind enough to write a letter of recommendation. Dr's Weston and Jacoby are awaiting officialovertures before saying anything. The longer he has to decide, the more thorough and designed will be the Commisioner's choices (explicitly assuming the Dean gets.the job). The economic principle is that elasticity is greater over time i.e. parameter changes occur over time.

On Wed. I am to get my DrW Bus. Fin. Thy. Mid-term (final if the numbers add up to an A thus far) back. Today I was somewhat assured by Janet (a Mormon, 2nd J year PhD Econ student who had some input in the grading process that I did well and the distribution was widely dispersed). \ have thus far been avoiding contact with her as she comes acroos as a wt oukbe sister, but today I decided to share my Wed. before-class meal with her


April 17 1977

Dear Family,

Here it is Sunday night and eons of time and space have passed since I last wrote. As usual, everything is the same and yet everything has changed.

On Friday, the week's event with the most potential future ramification occurred in the form of a discussion with a Br. John Menefee about replacing him for a year or two as a member of the economics faculty at CA State College at Bakersfield. I do not think that the competition is overwhelmingly keen and the likelihood of my being offered a job (the first of this letter's recurrent themes) is not remote. The set-up sounds quite desirable and the town of Bakers field is not all that bad. The details come if I get the offer.

This week's Rolling Stone (which I did not subscribe to but nevertheless receive against my wishes) featured a story of a secular 24 yr old Queen's born wandering Jew who wound up in a Jerusalem Yeshiva. The article is authored by the man's sister and is quite an open display of Jewish consciousness for such a leftist periodical.

Today's capping event to the week's Jewish thoughts was the Israeli Independence Day celebration held in a nearby municipal (Rancho) Park. Arriving with Tony and his current non-Jewish girlfriend Sue, I was struck by how young the celebrants were. Realizing that I was not going to meet my mate, I sauntered up to the Israeli consulate booth and asked the consul if he had any current want ads clipped from the Israeli press. He then made a befuddled attempt at convincing me that the way I should relate to a society of 3 l/2 million somewhat heterogeneous individuals was thru a paternalistic government. In the end, he had practically nothing concrete to offer me in the way of advice.

From there I wandered over to the Chasidic table where I duly put on tfillin. I sought out the rabbi and confronted him with the revelation that I had seen bugs "evolve" which I thought was convincing evidence of man's animalistic roots. As the reader can probably discern all ready, the observation proved worthless in the context of our discussion. I did note, and point out to him, "however, the preponderance of Chasidic Rabbi's who smoked cigarettes.

The rest of the festivity's noteworthy memories are of that almost enigmatic U.S. Jew. If I saw a representative sample of the U.S. Jewish Community, my guess is that by 50 years hence, the Jewish population's uniqueness in this country will be in serious trouble. The whole affair seemed permeated with purposelessness.

The character studies were as predictable as they were classical. For example, I overheard two extremely similar incidents of relatively attractive "girls" relating to not-so-well-endowed cohorts of a date the previous night with a mutual acquaintance: in a manner just this side of flaunting.

I ran 4 miles/day for most of the week and read the NYT today. Other non-academic stimuli have been typically minimal. The two academic courses are progressing at a reasonably smooth pace and though frustration is the order of the day, some progress is being made.

I was mildly disappointed yesterday when the expected call from Judy and Reuvendid not materialize, but I imagine that the difficulty stemmed from the increasinglyominous situation along the Lebanese border. The demise of the Christian communityin the area is both unpleasant and regrettable. .

I am hopeful that the May elections will restore people's spirits over there.Most of the major protagonists appear to be reasonable men. Peace and prosperityare just around the corner.

As indicated by the opening paragraph, my academic motivations are under attack and the answers I provide to the questions are that this program for PCL age 22 is possibly not right. The thought will remain only that until I have reason or motivation to act and think otherwise.

I am continuing in my efforts to sleep less. Some nights, 3 1/2 - 4-.hrs works' effectively (combined with several daily 15 minute "naps."). At other times, w/o 7 hrs of sleep, I have difficulty shaking the worn-out defeated feeling.

The philosophic resolve of maximizing the equity of others in return for a sustaining salary is gradually being accepted here. The other relevant alternative is an easier program.

Stay tuned.



April 23, 1977

Dear Family,

Greetings from UCLA! I trust that this letter finds everyone in the best of health. My mood of the week is that above all else, in Judaism one should be happy. Hence the week has progressed smoothly and I have been operating fairly efficiently. My current future plans are that I will remain in the program unless I get that exceptional job offer in academia or government. My current position is unique and if I make less than total effort to retain it, I will not be acting
rationally, one of the cardinal sins of life.

I have been at the office since Thurs (4//21) but I do not feel too much the
worse for it. This campus' really comes alive in the "spring" (recent mean daytime temperature is around 75 F.). Almost every day this week a live rock band played in an open space on campus. Southern CA, especially UCLA, women are marvellous to behold. Warm weather certainly brings out the "most" in them. Wed.was a "Food Faire" in which exotic and wholesome offerings were free for sample. We are also in the middle of a Jewish culture week with many films, speakers, and seminars.

Last night I attended a very exciting volleyball match between UCLA (#2 Natl) and Pepperdlne (#3 natl). The UCLA mens team is the current national champs. They lost the first two games 15-10 and 15-9 and were losing the third 12-8 in a best 3 out of 5 series. Iwas tlinking to myself that someone must have been pulling my leg when UCLA won the last three games 15-13, 15-11, and 15-13.

I had planned on going to Palm Springs with Joan and Bill Siegel, their kids, the Wassermans, and some others next weekend but it appears that my plans are changed for two reasons. The next day I have a mid-term in Linear Algebra and on that Sat. night the UCLA Hillel is having a city-wide dance which I assume will have the most relevant population sample that I will encounter in LA. I feel in good shape for the mid-term but I could not afford a whole weekend diversion. Oh well, I am not too sad about passing up this opportunity to be with "family."

An office-mate, Dan Leach, and I have resolved to prepare for a June 24 Palos Verdes marathon. A recent article in the NYT by a running MD advocated 400 miles in the preceeding 8 weeks, before a marathon race. We hope to do this. Today we ran 7 miles up Laural Canyon Road which straddles some of the highest valued property in LA. The course is 3 1/2 miles straight up and then down again. The run-on asphalt was a bit too jarring for my tastes so I will probably stick to the preferred dirt path until a week before the race. I am still heavier than I'd prefer to be in addition to being slower than molasses but I am confident that I can improve ( a thought of the week: If you will it than it is no dream). The daily sauna-cold shower is envigorating. I think a possible physiological reason that I was feeling depressed was lack of sleep. Max Ratner and Andre Malraux can have their 3 1/2 hours of sleep per night. I will stick to 6.

The week's productive efforts were fairly well directed towards my academic material and so I have little universally interesting material to write about. The coming week will also bring the first Joel Stern lecture. It appears that my efforts at making any personal dialog with him will be frustrated as the prof, in charge (Tom Copeland) dismissed the idea of an informal reception as being "not in the UCLA style".

Tue, night I went to thee the movie "Rocky" with Morad. Not since "Midnight Cowboy" can I recall every enjoying a movie so much. The movie takes place in South Phila. and all the scene's from Pat's Steak house to the Art Museum are there. The plot, while somewhat campy, moved well. Even the inherently chauvinistic seduction scene was handled with a certain degree of respect and sensitivity. The story is straight uplift, and I am sure that it has contributed to my current mood.

Interpersonal relations at the office are at a fairly high level, though I have alienated the resident loud-mouth. The net result is that he does not talk in my presence, which I think is marginally positive. My relations with Rick are notably good and even, though I have the lowest marginal productivity of any of Dr.W. "professional" help, he maintains a cheerful and friendly attitude toward me.

I plan on taking the Ec. PhD qualifying exam in Micro Theory in 4-weeks. There is practically no costs or penalties to me if I do not pass it, and if I do, I will have 40% of an M.A. in Econ.

May 2, 1977

Dear Family,

A belated weekly greetings from sunny L.A. My opening apology is on account of a mid-term exam in Linear Algebra. I might have done well in it, but definitely not great. Thus the saga of my academic exploits rolls on.

The mood of the past week has been a continuation of the up-tempo previously noted. Two days hence I am giving a second mid-quarter breather. The crowd should be somewhat smaller, though the faculty in attendance no less notable. Chief among the illustrious professors are the president-elect of the Amer. Econ. Assoc, Jacob Marschak, possibly Dr Weston, and my notable Econ, prof., Jack Hirshleiffer. Though I handed out close to 60 invites, I expect a crowd of around 20. I have a feeling that the refreshment speead will be smaller than last time, though I have purchased a wider variety of vegetables.

The dance at Hillel Saturday night did little to bolster my minimal social life, I befriended 3 women who should show on Wed., but I am not too expectant. The band was quite mediocre (at best). They could not even muster an acceptable version of "Brown Sugar", a rock mainstay. The crowd was diverse, though too young for me.

Last week I had dinner with Dan Levy. I served him my standard beans' and cheese and salad faire. We had a fairly rewarding discussion of expectations and I was somewhat pleased to note that for all his intelligence and stability, I have a more realistic view of what to expect out of a lifetime marriage commitment,

I have been answering classified advertisements for a few weeks now. I respond to anything that looks decent, which boils down to academia or industry above $20,000 I do not think my expectations are unrealistic and if I am still in the market as of late June, I should definitely pick up a one-year appt. at the Western Econ. Assoc, conference at Anaheim (across from Disneyland) June 22-24.

Sometimes these letters are tremendously painful as my daily reality is divorced from general interesting intellectual progression. I suppose that when I settle down to a 9 to 5 routine I will have even less to write about, but the crucial variable would seem to be what should I expend my intellectual conscious on. Even if I abandon my immediate status, I still expect to reenter the process, implying endless preparation. The alternative route is to make a lot of money, which will scarcely require less time. The seduction of wealth, though, would have me believe otherwise. If I did not have such doubts about the depth of my perceptions ( a function of intelligence I'd imagine) I would try to read enough to write. Any feedback from anybody out there?

I am trying to work 2 hrs per day for Dr. Jacoby. Currently I am still reading macro-econ. articles and summarizing them, though the last few days I have been locating secondary sources for statements which the lawyers for MacMillan Co. (the publisher of his new book) feel might be interpreted as slanderous.

Not too much new food-wise. Last week I did get an income tax refund, so I spent an extra $10 on food. The problem with eating well (12 pieces of fruit per day vs. the low budget 5) is that it shows up in the waistline. My only salvation is 4 miles of running daily (at an abysmal 30:00) and 15 minutes in the sauna.

The campus continues to exude spring magnificence (sp?). Today I was walking past a classroom building and an attractive bra-less woman was sitting on a ledge and leaning back onto her arms in a provocative pose. She had a vaguely familiar look, and not being one to let the opportunity pass by, I invited her to my mid-quarter reception on Wed. It struck me that she looked like a Playboy Playmate and upon inquiry she said she was. Thus I conversed with the second playmate of my life.

The superlative performance of the UCLA intercollegiate sports teams this year is only mediocre. My favorite, the volleyball team, dropped to Pepperdine at the NCAA regionals at UC Santa Barbara, thus ending their three year natl. reign.

Last Friday, our resident superstar of finance Richard Roll delivered a paperwhich seriously qualified the last ten years of empirical finance research. Theseminar was quite enjoyable as the standard antagonisms emerged as well as a generalfeeling of awe and humbleness (deserved or otherwise) by the other faculty members.I scored brownie points by recording it and lending it to those who could not attend(notably DrW).

May 8, 1977

Dear Family,

Four weeks to go until the end of the 1977-78 UCLA academic year. The heat is on. Actually, in the past two days we have gotten more moisture than the previous 5 months cleaning away the smog and improving peoples' dispositions in the process.

The next and possibly most critical hurdle is the aforementioned Econ PhD micro-qualifying exam on May 23. It should be formidable, but passing it means the certainty of another academic year, should I desire it. I would be over the hard part of an M.A. in Ec., a marginally positive undertaking.

The biggest non-event of the week was hearing from Bakersfield that I was not picked for the position there next year.

The biggest event was the "halfway breather". As expected the crowd was 18 in number and consisted solely of 6th floor GSM occupants. Practically all the students were associated with Dr. Weston's research program. The two faculty members showing were Jacob Marshak and Richard Roll. Dr. Marshak is, as you recall, Pres.-elect of the American Economic Association, and quite spry for age 79. Upon request he related to two of us delightful impressions of Einstein and Von Neumann. Albert dismissed "clairvoyance" to him at a Duke U. conference only after being told that the distance traveled by the "communication" was from the conference site to Berkeley, CA. At a 1923 meeting in Vienna, where DrM was the economist lecturing to the scientists, John (Jon?) upon learning of the Marshalian "Supply-demand cross" circled the conference table at a faster and faster pace until he came to the discovery that the lines represented boundaries of regions rater than absolutes.

The affair started at 3 and ended an uncustomary short time later at 4:05. Dr. Roll, who has been to all three of my social functions, showed at 4:20 as I was putting away the last of the crackers. He ate some remaining cheese and a few slices of my bread, while he basically responded to my queries. He has yet to launch a conversation with me, but I guess that I have to earn one first.

Yesterday I got a haircut and the barber shifted my part from the center towards the cowlick. No one has said anything.

The above mentioned rain has enabled me to run my fastest times on the cross-country course. The view from the campus high-point has also reached unsurpassed clarity and focus. In fact, even my car is better for the rain occurrence.

The Linear Algebra exam went only fair. I scored exactly average. Now in GSM, that would be good enough for an A-, but in Math it will probably get me a C+. It represents only 25% of my grade, so the field is still wide open. Another mid-term and a final will be conclusive.

I anxiously scan the WSJ, J'm Post, and NYT for indicative developments in and of Israel's peace chances. My guess (hope) is that Peres leads a coalition and Syria tones down itself and the PLO enough to get significant concessions and dialog rolling as a prelude to Geneva. The irony in the national news is the revealing of the Pollster Pat Caldell (sp?) 's pre-inauguration to Jimmy Carter imploring him to choose style over substance in the early days of his administration to win the American peoples trust and on the same day having the "Trickster" show up on the most widely viewed show in history lying and pleading for sympathy.

Last night I left the campus for a social visit to Joan and Bill Siegel, who were entertaining their standard crowd. The crowd was typically California with little meaningful dialog.

The week's "hassle" occurred on Fri. when I left the womb of the campus to go to the nearby bank in Westwood where I have my checking account. The purpose of this journey was to purchase a cashier's check to pay the driving ticket, which I had received in Jan., and the check had twice bounced and then been returned to me for insufficient funds and an extra $6.50 for handling. O.K. so I am returning and on the border between the campus and the village, crossing a cleared major intersection against the light, and? You guessed it, I got a ticket

On Fri. I retyped and performed a little editing on my resume to make memore employable and attractive. Right now, D-Day number 2 is June 23, and the West.Econ. Assoc, conference, a potential job mart.

May 15, 1977

Dear Family, -

Greetings to one and all. I hope the environment is friendly these days. Everyone should be into the middle of a beautiful spring. We have had a few rainy days with a generally overcast sky.

Whenever I am asked: "How are you?", I always respond (a self-effacing?) Uhh.. .well.. .you know, every day's another revolution.' Generally I say it just to get myself thinking, but right now I offer it because it seems appropriate.

The socially important actions of the week occurred on Wed. and Sat. Wed night I made dinner for Dan and Morad (who brought along Venkat). Everyone seemed to enjoy himself or herself. I had an OK time, though mood rather than substance characterized the evening. I sought out the encounter as I felt it rewarding undertaking were I to leave in the foreseeable future. (Without meaning to be hung-up on the event, it represents a unique opportunity at establishing any sort of community.) ...

Last night I started the evening off (at 9:30) with a party hosted by an Israeli couple (met through Bill and Joan) Asha and Marion Arom. They have been very profitable speculators in the S CA land market and as a result own a condo­minium apt. in what was formerly an MGM studio lot. The geography, was a perfect landscape and the recreation hall (1 of 3) was exquisite. I would imagine that, - being single here would be very slightly less lonely than anywhere else.

Nevertheless, the party was enjoyingly hip. The host and hostess were unable to introduce me to any nubile young women present, so after my senses had been sufficiently dulled, I left. The next journey stop was Morad's. apt. where I witnessed his new ritual of removing his soft contact lens. The evening’s culmination was a four hour discussion with Michael Hoffman. Our discourse represented one of the higher intellectual discussions that I have had in the recallable past. For me the relevant dialog was on grasping "affect" and the hypothesized therapeutic effect of the act of love. Michael's basic premise remains that the "rough edges" of one's relating ability should (could) be worn off on someone other than an even­tual spouse. He also persuasively forced me to look at my motivations for possibly leaving the program. Our dinner planned for May 27 should be rewarding.

This past week we had student government elections as well as a referendum for a proposed athletic facility (to be named after John Wooden). The facility-needed a 2/3 affirmative vote to bind the students beginning in 1981 to pay $5 per quarter, for a period of not more than 40 years. To me it was surprising that the referendum failed because I would imagine that the proposed space for women's inter-collegiate athletics is warranted in any sort of equitable distribution of assets relative to the men.

Running is the usual enjoyment, I am fairly well convinced that I want to make it an integral aspect of my existence. Leaving S CAL will significantly impair that accessible outlet. The sauna and the cold shower make the routine refreshing. The progression is extremely slow, as I am back up to a 29:30 four miles.

This weekend's annual UCLA Mardi Gras (read carnival) seemed to be extremely well attended. The accompanying localized littering of carnival related propaganda was the worst that I have seen on the UCLA campus. The profits go to the Univer.'s summer camp for disadvantaged kids, so I take in stride the carnival's disruption* of my running routine.

At last night's party I talked to cousin Hester who is student teaching emotionally disturbed and educationally handicapped children. The work is teaching her that she is not as patient as she previously thought she was. I guess that it is a rewarding lesson to learn on some other parents' problems.

I am holding my breath for Tue. and the elections. The U. S. press that I read seems reasonably fair. I have nothing against Peres and a government mandate would help negotiations, though I guess, a DMC-Labor coalition (with at least a dream-like 51%) would be bearable. The training accident was shocking.

I am keeping a sometimes frantic schedule. My parity of relation to my class­mates is ephemeral. Dri Jacoby's book is skipping the galley stage and proofs are coming out shortly. The publisher has grown increasingly uptight about some of the quotes (in-light of my finding no substantiating newspaper reports (i.e. reportings by second newspapers) of six footnotes. Thus I am spending two hours per day Xeroxing articles from which the quotes are culled.

5/22/77

Dear Family,

This past week has been the most academically directed in a long time. Thus, this letter will be fairly brief. Tomorrow is the big Econ PhD Micro-Theory compre­hensive examination. I estimate my chances at passing at around 20%. Wednesday is my second Linear Algebra exam. I should do fairly well. This past week has been one study grind.

Significant news about my potential future has developed. The tangible evidence is that in response to an advertisement in the Wall St. Journal (enclosed for you U.S. folks), I am being flown to Chicago 6/5-7 to be interviewed for a position in the trust department of American" Banking Trust Co, The endeavor will entail the purchase of a fairly conservative business suit as well as shaving off the beard and mustache and getting a haircut. I am mildly enthused about the job so the loss of head half is not too difficult to take.

The intangible evidence of a. future job is a conversation with Prof. Al Osbornewho indicated to me that the SEC is out (I'd be coming in at a OS- 9 , $I3,500-14/yr[something you never want to do as people continually come in above you and with1,200 similarly situated MBA's, there is no place to go]), but Sacramento ( thelegislative consultant's position) is looking better all the time. I'll keep you posted.

This past week my friend Tony had his big comprehensive exam in Electrical Engineering. The exam consisted of 27 multiple choice of which you had to get 7 correct and you lost 1/3 point for each incorrect answer. He answered 12 and got 9 correct.

I am in good health and fairly good spirits. My jogging time is unsatisfactory, as is my weight, but neither are critical.

Due to my "diligent" efforts on Dr. Jacoby's book, I am to be mentioned and thanked in the preface.

Not much else as there was very little non-academic news this week.

Be well.

May 29, 1977

Dear Family,

The week has passed and I have evolved from one intense reality to another, I am currently headlong into research for my upcoming interview. It appears that there is more to the organization that I am interviewing with than I ori­ginally thought, (see enclosed article from 4/77 Institutional Investor) Thus the more I learn, the less confident I feel. I really want to be prepared and at the rate I am going, I expect to be.

The study has not been without costs, and thus I have not done much this week. The highlight was my commercial transaction. An economic proposition that I learned this year is that the rate of change of cost of a transaction is an increasing function of the volume, holding time constant. This proposition was certainly borne out by my experiences in purchasing a suit and shoes. I do feel comfortable with the clothes, though, so the price was acceptable.

My two exams this week did not go particularly well. I hope for average on the Linear Algebra, The Micro-Theory Econ PhD was so difficult that I am sure a significant percentage of the PhD Econ students did not pass. At least I expected defeat. The difficulty of the examination had people in tears.

Today I shaved off my beard. I will get a haircut and thus hope that I can retain the mustache to maintain some visual maturity level. Tonight I had dinner at the apt. of David Levy and his girlfriend, The evening was not particularly insightful. The same result occured Fri. night at a Shabbat dinner of the Hoffman’s. At least Anat (Hoffman) cooked up a storm. The evenings' conversation lead me to doubt that the Hoffmans will stay married and David and Lita will get married.

Be well.

Love,

June 4, 1977

Dear Family,

I trust that this letter finds everyone in the best of health. I am feeling both enthused and anxious about my Chicago adventure, which commences tomorrow. I am taking a 7:50 A.M. flight so that I can arrive in time to go to the Art Institute. I also hope to have dinner at a famous pizza emporium, Gino's. While there I will call some acquaintances I made through Rick and I might head up to Northwestern for some fraternizing. On Monday I will also call two banks that I wrote to and see if an interview is worthwhile.

I received a confirming call from the personnel officer at Amer Bank & Trust and thus feel somewhat reassured that the endeavor is for real. I completed my outfit this week, with two ties and a brown simulated leather attaché pouch. Soon I will hopefully be able to buy an honest-to-goodness suitcase and briefcase.

My preparation has proceeded fairly well. My study has been methodical and I feel fairly comfortable with the material that I expect they want me to know. I also feel fairly confident about establishing a repoire with the relevant personnel. I have gotten some good tips and questions to ask from my colleagues at the office.

As usual, life was mostly study this week. Chief among the sources of non-theoretical stimulation was a letter from each of the two relevant women in my life, mother and sister. As for a response to the Israeli situation, my reaction is cau­tion. I think that ruling out negotiations from the start is foolish and destruc­tive, but my life and well-being are not on the line, so I will keep other comments to a minimum.

In regards to political activity in general, my thoughts are that like eco­nomic actions, the government that governs least governs best. I think Begin senses this and thus I am somewhat Hopeful. For a majority or a govt to impose its "will" on society in general is sheer blasphemy. A state is not and never will be one big aggrandized kibbutz. Even among the Israeli acquaintances that I have made, those with any exposure to employment in the private sector appreciate what a vast difference the profit motive makes in daily actions. In summation, political acti­vity to me is letting everyone do "his (her) thing". This requires defining one’s ego and realizing the limitations of value judgments and implied utility functions. My opinions and beliefs are only as relevant to you as you want them to be. I should not be able to force them on you. Liberty à Equality.

Judy, I very much enjoyed reading of your adventures on the Mediterranean port cities. It seems almost inherent that a large gathering of Jews would be more congenial and have greater group-awareness than any sort of comparable non-Jewish gathering. I think more than in Cleveland, Jews out here assert their identity in. a tangential way. The perceived freedom leads to insecurity.

L.A. is definitely rolling into summer weather. Notable among the features is a smog that just does not quit. Some days it gets so bad that non-essential use of power (air-conditioning and hot water) is curtailed at UCLA to avoid adding to the existing inversion layer of smog. The view from the campus high point is less than a mile. My recent running times have been inordinately slow and I am sure the lousy air has something to do with it. Still, some people prefer it to pollen beating plants.

The job in Sacramento is looking bleak. Currently the Legislative office is desirous of hiring interns at $900/mo. I am neither hopeful nor disappointed.

I have been getting some sun, so that I will at least look "healthy" for myinterview. Of course the big item was shaving off my beard. As expected somepeople hardly noticed and some commented on how rapidly I had grown a mustache(rather than noticing the absence of a beard).

UCLA is blossoming with activity. This week*s speakers were Art Garfunkel and Johnny Carson. A free "Arts Fair" has a myriad of engaging performers and film; Next week I will probably see Tommy Smothers and his last censored unshown Smothers' Brothers Comedy Hour episode. I might go see Clockwork Orange tonight.Morad has landed a managerial position back in Iran. Tony is still searching for something here. (I expect him to land something

[June 6 1 mile high over western Illinois]

June 11, 1977

Dear Family,

Greetings from your L.A. representative. My classes have finished for the years and all that stands between me and the summer is two finals. The relief is tremendous and so the motivation is currently less than perfect. Quite candidly, I am hoping for a mediocre performance.

In Econ 201C, the third quarter of a price theory sequence, I will probably get a B. The whole sequence has been enlightening, though I definitely could have lived without the middle quarter, production theory. This quarter we used the Prof's book, Investment, Interest, and Capital. As the tittle denotes, it was basically, the economics of modern finance. The class is quite competitive. Prof. Hirsheifer (the only Jew of the three) is quite notable, and while not particu­larly interested in the students, he was at least extremely accessible.

My Linear Algebra prof (Murray Schacher) was extremely competent, yet unbe-lieveably arrogant and condescending. A C is not beyond belief.

The big news on the employment front is that there is no news. I remain fairlyconfident that I got the investment Strategy position at AN. I expect to hear earlythis coming week and I will get the result out as soon as it comes in. I wrote a "thank you" note to all the people that I saw and I mentioned something uniqueabout our interchange to each one. Wayne told me that a good chance existed thatI would not have gotten the job had I not written the letters as the bank wouldtake this interview as a sample of how I would treat the public.

Al Osborne is in Sacramento this weekend getting a final indication on my pros­pects of a job with the Legislature. I am quite hopeful of securing an academic appointment at the WEA conference, next week (6/20-23). I will attend it regard­less of the AN outcome as two options are always better than one. Additionally, I will be able to speak with Wharton profs Jaffe and Edelstein. An academic appointment definitely puts me back on the PhD treadmill the following year, and I will undoubtedly ask these people for references. I would also lite to thank Dr. Jaffe for the doors that he has thus far helped me open.

This about raps up the news, the rest of the letter will probably be views.
My mental equilibrium is definitely below the average of the past few months.Stress of finals and a job would appear to be the critical variable. Awareness ofthe extreme selfishness of those around me also is depressing. I suppose the philosophical term might diplomatically be called existentialism. For example,last week, for the first time in our 9 month "friendship", David Levy said "Thank-you" to me. Virtually no one around here believes in family and commitment. Theyall could care less what happens to the world after they pass on. I would also wager that few people feel any sense of parental commitment.

Being in L.A. contributes to this whole phenomena. On Wed. night I went to see Tommy Smothers. I could not get in because the auditorium was packed. I did see the shooting of a television sequence for "The Rockford Files" on the journey.

In addition to the preponderance of the visual media, the dominant theme is that only L.A. has good weather. My friend Dan Levy went to Michigan for a wedding and he related to me how surprised he was at the pleasant temperature. Unbe-livably, I too was somewhat suprised.
Yesterday on the cross-country course, I twisted my right ankle and was reduced to a hobble for the remainder of the day. By today though, it hasd healed suffi-ciently to allow me to begin again. I did pause long enough by the track stadium to view the AAU finals in the 10,000 meter (handidly won by marathoner Frank Shorter, None of the joggers had a particularly unique style, though they all did keep their arm motion somewhat level .

Nothing new to report diet-wise. Strawberries are in season, as are Granny Smith apples, so I enjoy both of them. Peaches, cherries and other summer fruit are beginning to come down in price. Commensurately, my weight is crawling upward.

June 19, 1977

Dear Family,

It has boon little more than a week since I last wrote, but I seemed to have traveled an eternity. First, I hope that everyone is in good health. Summer is officially here and the weather should be pleasant, world-wide. As for the week's big news, I aid NOT get the AN job. As with most failing capitalist endeavors, I underestimated the competition. An individual with 10 years experience at the same wage obviously had a higher marginal value product. Oh well, no bitterness or remorse has emerged, it was just another painful lesson of life.

The finals went fair, and I may have pulled sufficient grades to retain my status. I should get the results this week.

In most other respects, I am doing quite well. Tomorrow through Wed. is the WEA conference. Wed. afternoon I am heading north for 5 days in a condominium owned by office-mate Wayne. It is in a Natl Forest bordering Yosemite and comes equipped with a community Jacuzzi and sauna. I am looking forward to some fairly intense rest and relaxation (R&R). I hope to do some serious hiking and reading. I was unable to rustle up enthusiasm in anyone else, so it will be a period of peace and solitude. I may even get some creative writing in. My major reading will be The Pledge, possible Catch-22, and the Times Literary Supplement (last 5 issues and whatever else appeals to me at the last minute.

I have begun unwinding from the academic year. Fri night was a party at 3373 Overland. I was looking for something wild and it was fairly tame in comparisonto previous affairs. The moral of the story was that sexual frustration leads to biased judgments. At around 12:30 A.M. and in a slightly inebriated condition I wandered into the local supermarket and spent 1 1/2 hours checking prices and reading Consumer Reports, a fairly productive culmination of an otherwise uninspiring evening.

This weekend I graded exams and read the NYT.

Assuming the WEA conference does not result in a teaching appt. I will hangaround here for the immediate future. I have plenty of supportive bibliographicresearching to do for Dr. Jacoby's book, which could easily keep me here throughJuly. I will also step up the intensity of my job search by scanning more news­papers and pursuing more leads.

The school year seemed to end rather abruptly. Both Tony and Morad are leaving shortly for their respective birthplaces. Tony will be returning in 2 months, married and with a job in San Diego ($16,000/yr). I did manage to make one new friend in my math class, Jesse Phillips, and I hope it will last.

Not much is new in my daily routine. Last week my cultural sources were all academic, so it was the usual story. I did manage to read a record review of old live Beatles material that is being released after a mandated 7 year lag. The recordings will undoubtedly fuel Rock's perennial rumor of the year, the Beatles reunion. I hope to do some recording soon of albums owned by office-mates.

Fortunately the hostile U.S. press seems to have given Begin a little breathingroom. It seems that Carter's only accomplishments are fueling militants' demands. I sometimes wonder how sincere he really is. -.:

Dr W. bought a printer attachment for the TI SR-52 which we both own. I have been having lots of fun with it. Last week I showed him how to use his and gave him some non-standard programs. 3 other people in our office are in the process of being slashed from his payroll.

My weight Is high (142 lbs) and my jogging time slow (7 1/2 min/cross-country mile ) but I have no particular comment about it. The slow time is definitely due to a lack of concentration which I hope to remedy shortly.

Last week's article in the NYT Magazine about the abuse of dissidents by Soviet Psychiatrists will hopefully renew my concern for the plight of Russian Jews. My life is so removed from the concern of mere existence that I shamefully lose touch with the suffering incurred daily by those less fortunate.

Not too much else to say. I hope to write you a glowing report of a string of victories and fortuitous occurrences that should take place over the next

June 26, 1977

Dear Family,

I greet, you in high spirits! I trust that everyone out there is feeling likewise.

Ending the school year was quite a lift and I hope to approach normality again, though not losing sight of relevant goals. My long term future is cur­rently up in the air as my grades from this quarter are not yet in and no speci­fic job prospects are in the wind.

The WEA conference went well, On the employment front, my most likely pros­pect is a one year appt. at the U of Minn., Morris (150 miles W of St. Paul-Minneapolis). The department chairman interviewed me and will let me know by the end of July. On a straight economic basis the conference was profitable because for a $12.50 admission, I received relevant: texts (from Publishing reps.) worth over $50.

While there on Mon. 1 had lunch with Dr. Jaffe, We had an amicable conver­sation about a myriad of topics. He is currently up for tenure and was thus a little anxious. I spoke only briefly with Dr. Edelstein.

The ''sessions” consisted of 70 minute formats in which 3 people presented papers, which were followed by discussants and questions, time permitting. It was all very exciting for me, even though, my comprehension was minimal. For me, the youthfulness of many of the prominent attendants was awe inspiring and some­what depressing. The UCLA faculty came- across as expected.

I left for Wayne's Mammoth Mtn. (Inyo Natl Forest) condominium on Wed., skipping the last two days of the conference, I returned to LA today. The intervening time was thoroughly enjoyable, relaxing, and undoubtedly therapeutic. The 325 mile trip there took an eternity as it also entailed an ascent of 7,500 ft. I should interject at this point that the bus handled the trip well, despite a continually rusting frame. Thurs. 1 made an 18 mile hike, through some of the cleanest and majestic scenery that 1 have seen in this country. The elevation went up to 9500 ft., so by the end of the hike I was quite winded and tired. That evening I took two dips in the Jacuzzi.

Wayne's condo. has the best view of any in his group and it made staying in­side and reading an extra pleasurable experience, so that, is what ' I did most of Fri and Sat. For diversion I ran on nearby dirt roads and soaked myself in the 105 degree F Jacuzzi, where finally on Sat. night. I met an unattached female Long Beach social worker.

My reading consisted of finishing The Pledge, Catch 22, and a TLS . The P_ was fun. My motives for reading it were somewhat defensive ( as it deals for the most part with activities in this country on behalf of the newly created state of Israel). If for no other reason, the reinforcement of the total world hostility towards the Jews was awakening.

C 22 was, on the other hand, rather disappointing. I could not draw any par­ticularly profound lessons from the characters described. I'll probably dig up some reviews to see what everyone raved about.

So now I am back, in L.A I plan on sitting in on a Jewish history course for the two obvious reasons (If you cannot guess them by now, I have not been con­veying my thoughts very well.). Once again, I feel the question of community arising. And once again, the only viable, answer (or even potential answer) deems to be Israel. I am willing to start with a nuclear family and work from there, but even this is easier hypothesized than accomplished.

Tomorrow I will also move some, of my belongings stored in Tony and Morad’s apt. into storage with some of Tony's stuff, as they are leaving the apt. I had also better begin the bibliographic summary and reference search for Dr. Jacoby's book.

Be well.


•
July 2, 1977
Dear Family,

Greetings and salutations! I trust that everyone is in the best of health and spirits. A nice sunny clime should be pervasive about now.

The week went fairly well for me. The major news was the final grades that I incurred. I managed to garner both a pleasant ("A-" in Econ) and an unpleasant ("C" in Lin. Alg.) surprise. The A- was as high a grade as anybody's in the office and higher than over half. My GPA is still above 3.0 (3.0125) so no official action in my case is warranted. Thus if by sticking around next year I can earn a "Satisfactory'1 on the Micro-econ qualifier for an M.A. and/or write my research paper for my GSM PhD, the undertaking will be marginally positive. This course of action is a failsafe plan to be undertaken only in the event that I am unable to secure employment of a meaningful nature.

On Tue, night I moved my stereo components and other miscellany from Tony & Morad's apt. to Becky's for (perceived) temporary storage. As previously mentioned, Tony is going back to S. Africa to bring his long-time girlfriend back with him to an Electronics job in San Diego starting 9/1. He imagines that the Jewish community is viable there, but I think he is dreaming. We parted on the best of terms and I do hope to continue our friendship. My parting gestures and conversations with Morad were notable only in their non-existence and I suspect our friendship is over.

The employment news of the week is that my work for Dr. Jacoby is going to take a lot less time than I originally had thought, so that I should be through with it within the next two weeks. Fortunately, to compensate (though the instigation was independent) Dr W. has decided to reemploy me for essentially as many hours as I want. I am currently doing what his RA’s have been doing all year, working on and through problems for his revised text. Specifically we are now looking over problems for a supplementary workbook, a brand new idea introduced on account of competition.

I decided (after some prodding by the Israeli delegation) that I might as well at least apply for entry level positions in Israel. Thus, I'll be applying to banks and major U.S.-Israeli conglomerates for finance related jobs.

This past week was otherwise fairly enjoyable. I probably worked only 10 hrs in gainful employment thus leaving a lot of time for study and pleasure reading. My academic, endeavors are mostly reviewing Corporation Finance (in connection with my employment) and introducing myself to the upper stratospheres of Econometrics, the most marginally productive empirical application of social science data. The literary undertakings are more TLSs and some critical studies of Faulkner.

Wed. night was dinner with Dan Levy and Jesse Phillips. The evening went fairly well as we were able to maintain a fairly high level of dialog. Jesse has a somewhat passive oriental philosophy that is quite exasperating for me as his articu­lation does, not entail any teleological direction and seems quite enigmatic.

I also managed to record some albums lent to me by office colleagues.

My physical health is typically good, if not notable. My 4 cross-country miles still take an inordinate 30+ minutes and my weight hovers over 140 lbs., but other­wise I am fit as a fiddle.

Middle East politics are certainly not taking a turn for the better. The impul­siveness and latent hostility of the. White House towards Israel continually simmers just below the surface of U.S. policy. I have no complaints about Begin's job, thus far.

Summer is only subtly different from the rest of the seasons out here in the blooming dessert. Plant scents and odors are mildly more distinctive. Certainly the UCLA campus has a slower and less crowded pace. I hope to hit the beaches on July 4 to attempt to get something of the taste of the Angelino life.

The big campus news is the replacement of the men’s intercollegiate basketball coach. Further exposition would probably be uninteresting.

David Levy has all ready moved into the office and officially starts work on 7/5.

Dr Jacoby left for Hawaii this past week.

Rick went to Phoenix this past weekend for the Bar-Mitzvah of his wife's brother. The fact that Laurie was Jewish never dawned on me.

The amazing fact of the week is that on the European continent, more people were alive at the end of 1941 than at the outbreak of hostilities. Until it became evi­dent that the US and USSR would enter the war, suicides were down, marriages up, etc. Additional tangential evidence of the world's disregard of the Jewish plight.

July 10, 1977

Dear Family,

Greetings, greetings, greetings!!! Allow me a forthright and hearty gesture. I hope that everyone out there is grasping some form of life.

My news is fairly implicative as my vulnerabilities and attributes both played a role in the weeks events. First the bad news (as it generally arrives first chronologically) is that the Finance curriculum committee asked to have my status terminated. Thus, I will definitely not be here in the fall. The good news is where I might be. Both U of Minn, campuses that I contacted at the WEA conference called to gauge whether or not I was still interested and to express their potential desire. I believe that Dr. S. M. Kahng (Morris) will fly me up to the campus to meet the people there (at the U of M, Morris) around July 20. If this eventuality occurs then I will just continue on to 3403 to see sister and the folks. Since I will be in Minneapolis for a changeover I will call Dr. Jeeswein at the Duluth campus and see if he wants me to stopover there. If this flight does not work out, I will take a little more time in departing and therefore leave shortly later.

I am in the process of moving. Currently it is mostly a mental construct as I begin to mentally rupture my daily existence and life pattern with actions and thoughts of the future.

My belongings are quite minimal and so the major asset occupying my time is. my VW Bus. I am attempting to sell it and though the path is currently wrought with frustration, I expect that an agreeable outcome is likely.

The future plans are foreseen as follows: In the event that a full time position is not garnered by fall, I'll try for an MS in Comp Sci or MA in Ecn at CSU. The desired spot (antithetical to the previously elaborated failsafe position) are the above mentioned teaching position.

As most of you might have felt, this past week launched the third century of the USA. My birthday celebration was one of the more notabie that I can recall. I spent most of the day at the home of Paul Bowinkle, an office associate. The afternoon celebration consisted of a PARADE complete with local beauties, movie stars, functionaries, and plain-old politicians. The barbequed dinner was quintessential and the night's firework*s display grandiose. His mother’s home is in Pacific Palisades and fortuitously faces a 500 ft. cliff and the ocean. Thus we saw three independent fireworks displays (lest you be affronted by an inkling of militant chauvinism, I went inside and read after a minimal exposure) as well as the preceding majestic sunset. The menu while not exquisite was bountiful. The brew and wine were quite tasteful. The company was reasonably stimulating. To cap the day I picked 20 lemons from his backyard tree but naturally forgot them on his kitchen table.

I responded to an advertisement in the campus newspaper for a free hairs styling. After sitting in this Beverly Hills "salon" for 45 minutes, the "maestro" told his assistant how mine was to be cut. as I listened, the result sounded so hideous that I discreetly demurred, and quickly left. "Garland's Barber Shop" got my recent and last L.A. $5 haircut, as he (Garland) has been all year.

I cooked dinner last week for Andre and Wayne. The evening was lighthearted and upbeat and thus went smoothly. I was happy to thank them both for the hospi­tality and concern that they have both showered on me. I think their Chinese ancestry gives them a group identity and something of a communal sense lacking in most Angelinos.

The most burdensome effort in connection with the Minn applications was round­ing up three recommendations in as many days. Dr.W, cheerfully and willingly sent two. Dr. Hirshlifer, the big name Jewish economist from whom I go an "A-" told me that I had not done anything particularly distinctive to merit any comment from him. "BUT," he said "if you are desperate, then you can write something up and I will sign it." thus, I quite conservatively and truthfully related my modest accomplish­ment.

July 10, 1977

Dear Family,

Greetings, greetings, greetings!!! Allow me a forthright and hearty gesture. I hope that everyone out there is grasping some form of life.

My news is fairly implicative as my vulnerabilities and attributes both played a role in the weeks events. First the bad news (as it generally arrives first chronologically) is that the Finance curriculum committee asked to have my status terminated. Thus, I will definitely not be here in the fall. The good news is where I might be. Both U of Minn, campuses that I contacted at the WEA conference called to gauge whether or not I was still interested and to express their potential desire. I believe that Dr. S. M. Kahng (Morris) will fly me up to the campus to meet the people there (at the U of M, Morris) around July 20. If this eventuality occurs then I will just continue on to 3403 to see sister and the folks. Since I will be in Minneapolis for a changeover I will call Dr. Jeeswein at the Duluth campus and see if he wants me to stopover there. If this flight does not work out, I will take a little more time in departing and therefore leave shortly later.

I am in the process of moving. Currently it is mostly a mental construct as I begin to mentally rupture my daily existence and life pattern with actions and thoughts of the future.

My belongings are quite minimal and so the major asset occupying my time is. my VW Bus. I am attempting to sell it and though the path is currently wrought with frustration, I expect that an agreeable outcome is likely.

The future plans are foreseen as follows: In the event that a full time position is not garnered by fall, I'll try for an MS in Comp Sci or MA in Ecn at CSU. The desired spot (antithetical to the previously elaborated failsafe position) are the above mentioned teaching position.

As most of you might have felt, this past week launched the third century of the USA. My birthday celebration was one of the more notabie that I can recall. I spent most of the day at the home of Paul Bowinkle, an office associate. The afternoon celebration consisted of a PARADE complete with local beauties, movie stars, functionaries, and plain-old politicians. The barbequed dinner was quintessential and the night's firework*s display grandiose. His mother’s home is in Pacific Palisades and fortuitously faces a 500 ft. cliff and the ocean. Thus we saw three independent fireworks displays (lest you be affronted by an inkling of militant chauvinism, I went inside and read after a minimal exposure) as well as the preceding majestic sunset. The menu while not exquisite was bountiful. The brew and wine were quite tasteful. The company was reasonably stimulating. To cap the day I picked 20 lemons from his backyard tree but naturally forgot them on his kitchen table.

I responded to an advertisement in the campus newspaper for a free hairs styling. After sitting in this Beverly Hills "salon" for 45 minutes, the "maestro" told his assistant how mine was to be cut. as I listened, the result sounded so hideous that I discreetly demurred, and quickly left. "Garland's Barber Shop" got my recent and last L.A. $5 haircut, as he (Garland) has been all year.

I cooked dinner last week for Andre and Wayne. The evening was lighthearted and upbeat and thus went smoothly. I was happy to thank them both for the hospi­tality and concern that they have both showered on me. I think their Chinese ancestry gives them a group identity and something of a communal sense lacking in most Angelinos.

The most burdensome effort in connection with the Minn applications was round­ing up three recommendations in as many days. Dr.W, cheerfully and willingly sent two. Dr. Hirshlifer, the big name Jewish economist from whom I go an "A-" told me that I had not done anything particularly distinctive to merit any comment from him. "BUT," he said "if you are desperate, then you can write something up and I will sign it." thus, I quite conservatively and truthfully related my modest accomplish­ment.

July 13, 1977

Dear Family,

A hearty midweek greeting to you all! Though input from all of you has been minimal since I last wrote, I feel like communicating with you at this point and so I hope you will listen.

I am basically the same person as I was on Sunday. I have had some meaningful exper­iences though that I would like to relate. On Monday while doing a minimal amount of work (basically through my choice) for Dr. Jacoby (as the remaining task is one particularly jittered with frustration. What remains to be done is the search for books not on the shelves. At best it takes time and more likely the books are missing unaccountably) I noted a nubile young woman entering the elevator. Deciding that I should take the elevator up one flight rather than climb the stairs I entered the elevator. During the course of our one flight together she asked me an innocuous question about the library facilities. I departed on the second floor and immediately regretted doing so.

Fortunately she was back on the main floor when I returned, and perusing an Anais Nin literary display case. I sauntered on up to her, we began conversing, and the rest is history.

Maya shared dinner with me yesterday. I had my usual delusions of permanence, and commitment and community. At the evening's close Maya (Kann, the woman I met in the elevator, the U of Pa '75 Sociology Major, Swedish Jewess) informed me that I was too "sweet" for her. Remorsefully, I accept this observation as correct. The evidence was fairly substantial.

I do hope that we will correspond and maintain some sort of relevant contact, but the current examples of such a relationship are non-existent, so I am doubtful.

As previously related, I am in the process of selling my car. While speaking to a potential (ultimately frustratingly fruitless) buyer, I was describing the body's condi­tion, which I put as: "..just fair, the body's just fair..." The hall's were empty at this time and so I had the office door open and was speaking fairly ( I must overuse the word "fair" and its derivatives more than any other word. ) loud. Thus Dr. Weston's passing by caught me by surprise and with great embarrassment. He made the most of the situation when he returned 15 seconds later with the question: "Were you describing your date or your car ? " I guess that you had to be there.

Tomorrow the VW Bus will probably change owners for the sum of $900. The proceeds will provide a welcome funding to my moving expenses. I am unsure of my exact departure date. I still expect to hear from Dr. Kahng on Fri. that he would like me to fly up to Morris. If this request does not occur, I will probably stick around at least until 7/24 and Harry D'Angelo's barbeque cookout.

One of the reasons is that I am working with Rick for DrW on the workbook. The proofreading of problems is educational and only slightly tedious.

July 17, 1977

Dear Family,

Greetings to one and all. Customarily, and with a keen interest, I trust that this letter finds everyone in the best of health.

Since I last wrote, my life has incredulously not transcended many universes. The major event that occurred since Wed. was a phone call from Dr. Kahng, of U of Minn., Morris. I expected his call on Fri. evening and when it did not come at that time I was disappointed. However, to my delight, he called Sat. around noon.

He first related that they would not be flying me up there as they had no funds for such a purpose. So, my interviews will be conducted via long distance phone call on Wed. I will be speaking to: another Econ faculty member (whose opinion counts most), a part-timer, a student representative, and possibly one or more administrators (including the academic dean).

Dr. Kahng related that he felt that I had a 55% chance of getting the job. Thecompetition consists of one other individual, a Fullbright scholar in this countryfor the past 3 years. His significant disadvantage (and probably insurmountableaccording to Dr. Kahng) is an unfamiliarity with the English language, as he is from Cambodia. In his favor though, is his ability and superior progress towards the PhD'in addition to having the committee's sympathy as his wife and child are trapped bythe Khmer Rouge (sp?) regime.

The only other real news of note is that I have sold and received the money formy van. The transaction price was $900. My major expenditures since I received themoney were: replacement of my running shoes (as the previous pair were stolen), paying my overdue rent, and treating myself today to a brunch at the Hyatt House in Westwood. Future expenditures are basically divided into two groups: transportation and paying my bounced checks.

The brunch was succulent. The price rose to $7.95 since last year. The addition
was champagne. The fruit was not particularly sweet but I guess this is attributable to the pervasive and devastating drought that CA is currently undergoing. I did not stuff myself beyond reason and consequently the rest of the day was plea­sant and I was even able to skip dinner. On the walk to the office I passed through the UCLA botanical gardens, a public garden as lush and scenic as just about any that I have seen.

As of now, I will probably leave for 3403 on 7/25. If I get the Morris job (which Dr. Kahng said I should be informed of by Wed. night), then I will definitely fly home and spend the rest of the summer preparing for fall and beyond. If I do not get the job, I am not yet definite, but I will also probably fly home as the savings bus ($70) and driving ($100) are not worth the extra 2 1/2 - 3 1/2 days. At this point I cannot envision any significant reasons for sticking around. I would like to get to Cleve. to see what possibilities are available to me for the fall at CSU. The primary reason is, of course, to see my one and only sister (currently, technically).

On Thursday, a party was given in honor of Al Osborne, the prof, going to the SECand Brookings. It was generally notable in two aspects: Becky prepared the spreadand so the food was adequate and delectable; and Al never showed up! His absencewas due to the fact that the movers were scheduled to show up at his house at 3 AMand they did not arrive until 4 PM. The affair was specifically notable to me becausewhile relating my plight to Acctg Prof. Jerry Arnold, he told me to stop by his officeand he would see what he could do to help. In the subsequent conversation he said hewould call his Prof, friends in Finance at U of Mich, Minn, and Mich State to seewhat sort of action he could drum up for me. The calls are to take place tomorrow.Though he is a super guy, I am not expecting miracles (i.e. anything).

In line with winding up my affairs, I will be having dinner with Dan and Becky this coming week.

I am recording classical music at the library here but the facilities depreciate so rapidly that nothing adequate is currently available.

The weather is quite pleasant here. Though the temperature reaches the 80's, the humidity is extremely low. My jogging is typically lethargic and my weight is only adequate.

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