King Tut

We just returned from several days in Pasadena. (Note that I did not announce this trip in advance.)

The main purpose of the trip was to see the "King Tut" exhibit at the Los Angeles County Museum of Art. (My mother had been kind enough to give us tickets.) We had seen the previous exhibit about 20 years ago. I recall it as extremely interesting but that the crowds were so thick that it was claustrophobic and unpleasant.

This was quite different. The objects displayed were far enough apart that there was much less crowding. Duplicate labels were provided so that there was a good chance that you could read one even if the others were obstructed. "King Tut" wiil be at the LA County Musem of Art through 15 Novermber. I recommend that you see it if you can.

Blog Security Matters

Posting to a blog regularly keeps people interested. If I were to tell when we would be out of the country, people would not have to look at the blog every day in frustration, waiting for a new post. However, a lot of people read this blog, many of whom I do not know. Saying that we would be out of the country for three weeks would be an invitation to burglary. Katherine and I do not feel comfortable about that. So, for better or worse, there is no advance notice of our trips.

Recently, there have been four comments from people to the effect of "great 'blog, take a look at my site". When you click on the link to their site, you get an advertisement or worse. These comments are removed as quickly as I can. I hope that this is not the beginning of a deluge.

Raise the Red Lantern

Yesterday we attended a performance by the National Ballet of China of "Raise the Red Lantern". The ballet is loosely based on the Chinese movie of the same name.

The musical score alternates between traditional Peking Opera percussion and Western symphonic music. (At times the music sounded like the sound track to a Hollywood epic.) The sets were simple but extremely effective. Overall, the production was beautiful to look at and has more dramatic impact than any ballet that I can recall.

The review by Rachel Howard in the Chronical today points out that although the dancers were all quite talented, the choreography is bland and predictable. She's right. The staging and music were so overwhelming that I had not noticed.

The four performances of "Raise the Red Lantern" in Berkeley this week were the first in the United States. I do not know where it is going, but if you ever get a chance I strongly recommend that you see this ballet.

I Don't Get It

Economists predict that the effects of Katrina, combined with high oil prices, will reduce GDP growth by one or two percentage points. Yet I can not see that Katrina has had any effect on the stock market. We are partying on. Yet, normally, a catastrophe like this would create at least a dent in the market. (Example: 9/11.) I don't understand it. This situation reminds me of a cartoon in which Wiley Coyote has run off the cliff, but has not begun to fall.

What are some possible explanations?

a) Rebuilding New Orleans and the Gulf cities will create a building boom that will stimulate the economy. Well, that's true, but it has been taken into account in economic predictions of a decline.

b) Trading is dominated by hedge funds. Their complicated strategies are temporarily holding up the market. I have a hunch that this is true, but I do not know how one could prove it.

Beyond economics, there is the possibility that disappointment over the administration's actions will affect the mid-term elections next year. That could drive the market down.

There seems to be more downside risk right now than likelihood of upside gain. I am sticking to the conservative asset allocation that I described previously on July 12.

Taco Temple

In the small town of Morro Bay, California there is a shack on the edge of a supermarket parking lot. There is usually a line of people in front waiting for a table. This is Taco Temple, one of the most unusual and outstanding restaurants in California.

The premium fish tacos, made with your choice of several different fish of the day, are spectacular. At first glance it appears to be a Mexican restaurant and, indeed, they make fabulous carnitas, tamales, and taquitos. However, they describe themselves as a fusion restaurant and that is apt. They have a wide range of specials that change daily. Our group of nine ate there twice during Labor Day weekend. We sat outside. In addition to sea bass tacos, we had "Killer Tamales", grilled figs stuffed with goat cheese and wrapped in bacon, taquitos, burritos, and a carnitas platter. A Petrale Sole platter was on the specials board, but we passed it by since we were only having lunch. Many dishes come with a large salad on the plate.

It's no surprise that you can buy several excellent beers. The surprise is that Taco Temple serves excellent wines from small local premium wineries by the glass. This is not your father's Mexican restaurant. The only restaurants that come to mind to compare to Taco Temple are Super Rico in Santa Barbara and Picante in Berkeley. But that's still an apples and oranges comparison. Taco Temple is unique.

The deserts change daily and are, by themselves, a reason for visiting Taco Temple. We had lemon cheesecake one day, and mango cheesecake with a gingersnap crust the next. Fabulous. I have heard good things about their bread pudding.

In the words of the Michelin Guide, the Taco Temple is worth a special journey. Three stars, no fork, and a green table.

Hearst Castle - Continued

This is part of the outdoor swimming pool at Hearst Castle. (There is also an equally grandiose indoor pool.)

Hearst Castle

Last weekend, we visited Hearst Castle near San Simeon on the California coast above San Louis Obispo. The last time we went was in 1958, shortly after the State of California had received the property from the Hearst Heirs. We were pleasantly surprised to discover that the property is in better shape than ever.

This should be on the must see list of anyone visiting California. It is a beautiful setting. The architecture is outstanding. The collection of European, Roman, Greek, and Egyptian art is mind boggling. And, let's face it, it's fascinating to see how one of the most wealthy men in the world spent (squandered?) his money.

Edna Valley

This last Saturday, we toured Edna Valley a wine region near San Louis Obispo, CA. (Edna Valley is in the county north of Santa Barbara.) This valley is developing a reputation for Pinot Noir, but the most outstanding wine we tasted was a 2004 Petite Syrah from Wolff Vineyards.

This is Katherine and Elizabeth, in Wolf Vineyards "Tasting Room". Appropriately, it is a shaded terrace outside the winery itself. The owner and his son brought wines to our table on the terrace and explained each one.

On Tuesday, we went back to Wolff. The tasting room was closed, but the owner was happy to sell us a case of Petit Syrah. He told us that he is beginning to ration it to wine stores so that he will have enough left to sell at the winery.