#lucapacioli — Public Fediverse posts

Fibonacci had not really understood Archimedes’ proof. Archimedes knew that $256/153 < \sqrt{3} < 151/78$ and used the appropriate bound as an approximation when calculating the perimeters of the circumscribed and inscribed polygons, so he knew that he would obtain upper and lower bounds for the actual perimeters. But in his own account of Archimedes' work, Fibonacci used the same approximation for both and rounded up or down to the nearest number at each stage.

Later, Luca Pacioli (c.1445–1517) called Archimedes' result a ‘beautiful and subtle [bella e sotile]’ discovery. He followed Fibonacci's exposition, but mangled the line of Archimedes' thought even more than Fibonacci had, ignoring the whole idea of finding bounds.

2/3

#LucaPacioli

#datocurioso

¿Sabían que el concepto fundamental de la contabilidad moderna, la partida doble, formulado por Fray Luca Pacioli en 1494, a menudo se compara con una ley de la física de Isaac Newton? 

En su obra Summa de arithmetica, geometria, proportioni et proportionalita, Pacioli sentó las bases del registro contable con el principio de que "a todo cargo corresponde un abono". Esto significa que en cada transacción comercial, si un valor entra (cargo o debe), otro valor de la misma cantidad debe salir (abono o haber), manteniendo un balance perfecto del sistema. No hay deudor sin acreedor. 

Décadas más tarde, Isaac Newton formularía su tercera ley del movimiento: "a toda acción corresponde siempre una reacción igual y contraria". 

Aunque no hay conexión histórica directa entre ambos, la contabilidad y la física comparten esta idea de dualidad y equilibrio universal. Ambas leyes describen sistemas donde el movimiento o el valor se transfiere, pero nunca se destruye, solo se reequilibra.

#LucaPacioli #Contabilidad #Historia #Fisica #LeyDeNewton #DatosCuriosos #Matematicas #partidadoble

“Risk comes from not knowing what you’re doing”*…

In a follow-on (in a fashion) to an (R)D earlier this month on financialization and gambling, Liz Hoffman on the striking changes underway in the financial sector…

Wall Street is starting to look a bit like a stage drama where nobody is playing the part that casting assigned.

To build a giant Louisiana data center, Meta raised $29 billion in equity from Blue Owl (a firm known for private credit) and private credit from PIMCO (a firm known for public bonds). Google has piles of cash and a red-hot stock, but is instead bringing its pristine credit rating to the deal table, backstopping crypto miners. The $7 billion that KKR and Apollo are putting into Keurig Dr Pepper is “equity” in the sense that it will help KDP reduce its debt load. But it isn’t coming from their traditional PE funds.

You think companies are built with equity and debt? That’s cute, today’s masters of the universe will chuckle while patting your head.

What used to be called simply “investing” or “lending” has been replaced by “capital solutions” — hybrid equity, kickers, and cash flows tailored to match the returns promised to investors on the other side. Growing pots of money now resemble liquid sand, moldable into whatever shape will fit the money hole in front of it. This shift has been obscured by narratives, overcooked in my view, about a battle between private credit and banks: “There’s one system,” Goldman Sachs President John Waldron told me a few weeks ago, and it’s changing quickly.

Goldman reorganized itself along these lines earlier this year… Apollo, one of the original private-equity firms, is now 80% credit… and firms from Chicago buyout shops to Middle Eastern sovereign wealth funds have launched “capital solutions” arms. Lawyers are jumping in downstream.

Prioritizing what companies actually need over whatever widgets Wall Street happens to sell is good customer service. Personal wealth management got a lot better when firms started asking “how much do you need to retire?” instead of “would you like to buy this structured note?”

And the rise of insurance money in investing has created patient capital that in many cases fits those money holes better than blunter instruments. Much of KKR and Apollo’s Keurig investment will end up in their insurance arms, backed by long-term contracts with the coffee-pod maker, people familiar with the matter said.

But flexible capital will almost certainly overflex, and not everyone with “go-anywhere” money should go anywhere. I suspect that before this cycle is over, we’ll see a few instances that leave everyone asking, “why did they own that?”… Sometimes “capital solutions” just code for investing in distressed companies, which is nothing if not a capital problem in search of a solution, trade publication Private Debt Investor wrote…

“What Wall Street’s obsession with ‘capital solutions’ tells us,” from @semafor.com.

[Image above: source]

* Warren Buffett

###

As we go back to basics, we might note that it’s International Accounting Day– a celebration of the field on this date each year that commemorates the publication of Luca Pacioli’s seminal work, Summa de Arithmetica, Geometria, Proportioni et Proportionalita, in 1494, which introduced the double-entry bookkeeping system—a foundational element of modern accounting.

source

#accounting #business #capital #capitalSolutions #culture #doubleEntryBookkeeping #finance #financialization #history #InternationalAccountingDay #LucaPacioli #money #politics #risk #WallStreet

The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy - Amid the banking chaos of the 21st century, some are looking back more than 600 ye... - https://news.bitcoin.com/the-fall-of-medici-bank-lessons-on-fractional-reserve-banking-from-15th-century-italy/ #fractional-reservebanking #institutionalinvestors #financialinstitutions #governmentofficials #financialsolutions #republicofflorence #francescosassetti #fraudulentschemes #itsawonderfullife #lucapacioli