Lately I have been hiking quite a bit in the Lantau hills. The local Trappist monastery keeps a healthy herd of cows grazing up there, and as you would expect, no matter how much ruminating they can manage, at some point the residual matter will have to exit the cow. Traditionally, we have employed a very limited nomenclature for this material, using terms such as cow pies, manure, or the more colloquial bullshit. But upon investigation it is quite clear that Science simply hasn't done this subject justice. No two cow pats are alike. At the same time it occurred to me that we have available an extensive set of technical terms that will no longer be of any use to its erstwhile owner, the financial sector. So let's be a little pragmatic, and put those terms to good use again. It proved more intuitive than you might expect:
The Following Day:
Imagine my delight when I came across this whopper today: Yes. It is. That oh so rare Constant Proportion Debt Obligation, or CPDO. The presence of flies laying eggs suggests this fine specimen is no more than 24 hours old. What a treat!
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Yes. It is. That oh so rare Constant Proportion Debt Obligation, or CPDO. The presence of flies laying eggs suggests this fine specimen is no more than 24 hours old. What a treat! 
