After Mom left, I waited for my dad to get home from work. He didn't say anything when I told him about the coat. He stood in the light of the clock on the stove and rubbed his fingers together softly, almost like he was snapping but with no sound. Then he sat down at the kitchen table and lit a cigarette. I'd never seen him smoke in the house before. Mom's gonna lose it, I thought, and then I realized that no, my mom wasn't going to lose anything. We were the losers. Me and Dad.

Probably one of the biggest losers to fall in love with a selkie was the man who carried her skin around in his knapsack. He was so scared she'd find it that he took the skin with him everywhere, when he went fishing, when he went drinking in the town. Then one day he had a wonderful catch of fish. There were so many that he couldn't drag them all home in his net. He emptied his knapsack and filled it with fish, and he put the skin over his shoulder, and on his way up the road to his house, he dropped it.


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An activity profile of competitive 3  2-min novice-level amateur boxing was created based on video footage and postbout blood [La] in 32 male boxers (mean  SD) age 19.3  1.4 y, body mass 62.6  4.1 kg. Winners landed 18  11 more punches than losers by applying more lead-hand punches in round 1 (34.2  10.9 vs 26.5  9.4), total punches to the head (121.3  10.2 vs 96.0  9.8), and block and counterpunch combinations (2.8  1.1 vs. 0.1  0.2) over all 3 rounds and punching combinations (44.3  6.4 vs 28.8  6.7) in rounds 1 and 3 (all P < .05). In 16 boxers, peak postbout blood [La] was 11.8  1.6 mmol/L irrespective of winning or losing. The results suggest that landing punches requires the ability to maintain a high frequency of attacking movements, in particular the lead-hand straight punch to the head together with punching combinations. Defensive movements must initiate a counterattack. Postbout blood [La] suggests that boxers must be able to tolerate a lactate production rate of 1.8 mmol  L-1  min-1 and maintain skillful techniques at a sufficient activity rate.

Citation: Newbold T, Hudson LN, Contu S, Hill SLL, Beck J, Liu Y, et al. (2018) Widespread winners and narrow-ranged losers: Land use homogenizes biodiversity in local assemblages worldwide. PLoS Biol 16(12): e2006841.

This paper tests whether a strategy based on financial statement analysis of low book-to-market (growth) stocks is successful in differentiating between winners and losers in terms of future stock performance. I create an index (G_SCORE) based on a combination of traditional fundamentals such as earnings and cash flows and measures appropriate for growth firms such as the stability of earnings and growth and the intensity of R&D, capital expenditure and advertising. A strategy based on buying high G_SCORE firms and shorting low G_SCORE firms consistently earns significant excess returns. The results are robust across partitions based on size, stock price, analyst following, exchange listing and prior performance and are not affected by the inclusion or omission of IPO firms. The excess returns persist after controlling for well documented risk and anomaly factors such as momentum, book-to-market, accruals and size. The stock market in general and analysts in particular are much more likely to be positively surprised by firms whose growth oriented fundamentals are strong, indicating that the stock market fails to grasp the future implications of current fundamentals. Further, the results do not support a risk based explanation for the book-to-market effect as the strategy returns positive returns in all years, and firms that ex-ante appear less risky have better future returns. To conclude, one can use a modified fundamental analysis strategy to identify mispricing and earn substantial abnormal returns.

Diamond says there is surprisingly little precise data about exactly what happens after a city imposes or expands rent control. Who are the winners and losers? How do landlords respond? What happens to the buildings covered by rent control? How do the benefits stack up against the costs?

Economists have long argued, and with good justification, that international trade brings overall benefits to economies. However, increasing trade is likely to create losers as well as winners. Indeed, within a broader context of rising inequality in many countries, recent years have seen growing public concern surrounding the negative consequences of trade and globalisation for certain sectors of society.[1] Those concerns, in turn, are seen as being partly responsible for the rise in populism in some developed countries.[2]

Most economic changes produce winners and losers, and this is also true for changes in trade. In this section we consider what drives international trade and why trade may have such distributional consequences.

Opening up to more of this sort of trade also leads to winners and losers at the firm level, with less efficient firms contracting (or going out of business) and the more efficient expanding (or entering the industry). Therefore, even if there are no specialisation changes as described in (1) above, such that the share of an industry in imports or exports remains fairly constant over time, international trade can still lead to substantial changes within the industry. Substituting more efficient for less efficient firms increases average productivity and so is good for the economy as a whole. Consumers and firms buying intermediates benefit by getting products at lower prices, and their choice may increase as trade adds foreign varieties to the available range.

More recently, US manufacturing employment fell by just under 6 million between 1999-2011,[25]and, over this time, differences between skilled and unskilled wages grew.[26] This was also a period with significant changes in trade, with the growth in Chinese exports, increased offshoring, and increased fragmentation of supply chains. Again, this raises the question of the extent to which trade may have been a driver of these changes in employment. For example, there is some evidence that offshoring to low-income countries, as well as increased import competition, contributed to some of the job losses, especially in low-wage, low-skilled (routine) occupations, and for older workers.[27] Such impacts will be felt in both manufacturing and services, and in both cases the losers are more likely to be the low-wage, low-skill intensive industries or occupations, and conversely for the winners.[28] There is also some evidence, that while increased import penetration in final goods may negatively impact on manufacturing employment, increased imports of intermediates may have the reverse effect as it is associated with increased engagement in value-chains, and consequent exports of those goods higher up the value chain.[29]

To summarise, while there is a consensus that trade generates gains overall, recent literature highlights that the impact of trade, particularly from increased competition from developing countries, has created winners and losers. Workers in sectors particularly exposed to increased import competition tend to be adversely affected through job losses and falling wages, and some evidence suggests that the impact is felt more severely by low-income workers. In contrast, sectors and firms able to take advantage of the growing export market, such as services sectors, have benefitted. Further, while consumers on the whole have benefitted from trade through lower prices and increased variety and quality of products available, evidence suggests that low-income consumers may have benefitted relatively more.


This section looks in more detail at some of the policy responses that could potentially help losers from international trade adjust, and ensure that the winners can take advantage of the new opportunities created by trade liberalisation.


Bad recruiting. There are stellar recruiters, terrible recruiters and everything in between. As with all things involving people, the fat part of the bell curve is made up entirely of imperfect human beings. They make mistakes. Some make lots of them. The solution: Vet your recruiters more carefully than you would anyone else for the simple reason that, if you don't, it'll have a ripple effect and you can end up with an entire organization of losers. 

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