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God bless people who buy low and sell high

Arbitrage and speculation get a bad rap sometimes, but they're incredibly useful.

I'm leaving Ulaanbaatar shortly and I'll be heading to Japan. I went to stock up on some basic supplies - personable consumables and work stuff.

Strikingly, paper is really expensive here for Western-grade, Western-style paper. The local shops literally don't carry it. Instead, they have this checkered sort of paper. It's like graph paper, but with thick black lines. I prefer black ink, and after trying out one of those notebooks, I couldn't read what I'd written.

I tried some of the upscale department stores (Sky Department Store, State Department Store) and there's literally no Western-style, 60 sheet lined notebooks in the $1 to $2 range like you'd see in the USA. They have high end notebooks for $6 to $12, and they have these thin flimsy 20-page booklet-type things for around $1. I settled for the booklet.

Now, if there was the demand to make it worth it, someone importing Western style paper from China at 20 cents a notebook and selling it here for $2 per notebook would be creating a lot of value. If this presented a large enough opportunity, eventually you'd see the margins go down towards cost, as happens in almost all industries.

Internal Scorecard #12: Once More Into The Breach

"Once more unto the breach, dear friends, once more; Or close the wall up with our English dead. In peace there's nothing so becomes a man As modest stillness and humility: But when the blast of war blows in our ears, Then imitate the action of the tiger"

-- Shakespeare, Henry V

INTERNAL SCORECARD #12: ONCE MORE INTO THE BREACH

I write these Internal Scorecards up, usually weekly, so that you can see the pragmatic applications of strategy, habits, operations, production, etc. The good and bad, the upsides and downs, and so on. I get a lot out of it too -- it gives me and external accountability mechanism, and good feedback.

This one covers 11 August to 17 August.

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