Oz is happy that he left physics.

It is the last book of the original Oz series, which was later continued by other authors.

This is the first time in the Oz series that Baum made use of double plots for one of the books.

But investors do not know and cannot tell that Oz has no talent.

There are many ways to be a mammal. A 'roo hops in Oz a horse runs in Asia and a wolf evolves stilt legs in Brazil.

Oz may not be a crook he may merely think that the probability of the S P plummeting is much less than 10 .

And he called me into his office which is the equivalent of going to see the Wizard of Oz and John Heinz had 600 million dollars, and at the time I had about 60 cents.

Of course, after several years of such returns, Oz s fund may grow enormously as new investors clamor for a piece of the action.

Moreover, Oz s fee is the standard two and twenty 2 for funds under management plus a 20 performance bonus for returns that exceed some benchmark say, 4 .

So when the event eventually does occur, investors who leave their money in the fund lose everything, whereas Oz nets more than 3 million in each year before the fund crashes.

Enter Oz, who holds a doctorate in physics. He has no investment talent, but he knows about probabilities, and is running a hedge fund worth 100 million.

Argentines today feel much like Dorothy did when she first landed in Oz they are not in the safe and familiar Kansas anymore. But Keynes is not to blame.

In an editorial response to the event, the young newspaper editor L. Frank Baum, later the author of The Wonderful Wizard of Oz , wrote in the Aberdeen Saturday Pioneer on January 3, 1891 The Pioneer has before declared that our only safety depends upon the total extermination of the Indians.

Since the probability of the event occurring is only 10 in any year, the chances are nearly 60 that more than five years will pass without the event occurring, in which case Oz makes more than 15 million even if no new money comes into the fund.