Inexpensive Forensic Lights

What You Can Learn From Warren Buffett's Teacher

In today’s rocky markets, old Ben (1894-1976) still has a lot to teach us about how to get rich investing. The big take-away: Be flexible enough not to get mired in any discipline. They all have strengths and flaws. Knowing what they are lets you navigate around the perils and land on the opportunities. Or at least gives you a better chance.

Before Graham came along, there had been no widely used investing systems. The capital markets were like wild frontiers. They too often operated on cronyism and outright fraud; they were swept by manias and laden with onerous debt. Cornelius Vanderbilt concocted a massive stock slide in 1869 by flooding the market with shares from his railroads, as a means of thwarting rival Jay Gould.

Ben Graham taught that investors must be analytical and diligent about choosing and managing their holdings. He provided an orderly method of evaluating stock and bonds.

Hand in hand with that insight was the strategy he invented, called value investing, which aims to find cheap, under-appreciated stocks. Inspired by his example, other investing systems later sprouted. Some extended Graham’s thinking; others were in opposition to it.

All sought to tame the unruly market beast, which was capable of bringing both destruction and riches. It’s significant that the symbols of Wall Street are both animals: the bull (optimistic) and the bear (pessimistic). Graham taught that people should be careful when dealing with such powerful, dangerous creatures.

all have deep flaws. Graham’s beloved value investing has a pretty good track record, except when it doesn’t.

Value investors were big under-performers in the late 1990s tech boom, and were devastated by the bear market that erupted in 2008 because what looked cheap and reliable – financial outfits like Lehman Brothers and Fannie Mae – were the first to fall when the credit crunch occurred.

Hidebound notions are obstacles to clear thinking, Graham argued. Stretch that concept, and you see that smart investors should be free to dip into any number of investing styles, provided they have done their homework.

It made no sense to stay out of growth stocks during the tech boom. From 2002 until 2007, real estate plays were very smart. Investing in a private hedge fund can be quite lucrative, provided that it is the right fund. Amaranth Advisors collapsed in 2006 when its managers bet the wrong way on energy futures. Its investors lost most of their money.

Crime Scene Training - Overview of Latent Fingerprint Development ...

Powders

Powders adhere to both water and fatty deposits. These are generally usefulon newer prints only. Choose a powder to contrast with the background. Theyare useful on any dry, relatively smooth, non-adhesive surfaces. Use afterlaser fluorescence. Powders may be used before ninhydrin and after cyanoacrylate. Results may vary with skill of technician. Lift developed prints by photography or conventional methods.

Silver Nitrate

Silver nitrate reacts with the chlorides in skin secretions to form silver chloride, a material which turns gray when exposed to light. Developed prints must be photographed immediately because the reaction will eventually (and permanently) fill the background. It is useful on paper, cardboard, plastics and unvarnished, light-colored woods. Use it after ninhydrin and iodine. It is not useful on items which have been exposed to water.

Ninhydrin

Ninhydrin reacts with amino acids to produce a purple reaction product called “Rhuemann’s Purple”. It is useful on porous surfaces—especially paper. Development time is up to 10 days, but may be accelerated through the application of heat and humidity. Use ninhydrin after iodine and before silver nitrate. Ninhydrin is not useful on items which have been exposed to water.

DFO

DFO, 1,8 Diazafluoren-9-one, is a fluorescing ninhydrin analog found to develop up to two and a half more prints than ninhydrin itself. It is useful on porous surfaces, especially paper. Development may be accelerated through the application of controlled heat. Use it before ninhydrin. DFO also is useful to develop weak blood stains. It requires a specialized light source, such as the BLUEMAXX™.

Iodine

Iodine fumes react with oils and fatty deposits to produce a temporary yellow-brown reaction product. Iodine is useful on fresh prints on porous and non-porous, non-metallic surfaces. Developed prints must be fixed or photographed immediately because reaction will rapidly fade. Use iodine before ninhydrin and silver nitrate.

Fluorescent Powders

Powders made of fluorescent materials offer the advantages to the limitations of conventional powders. Apply as with conventional powders. Lifts can be made photographically or by conventional means. Fluorescent powders are especially useful on confused backgrounds.

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