Do you feel like you're caught in a torrential downpour of information? Us too. That’s why we’ve created The Torrent. We’ve taken the torrential downpour, distilled it into a fine spirit, and served it nice and neat in your favorite tumbler. This week: verisimilitude, leaks, whisky-flavored toothpaste, and celebrity action figures. Relax, enjoy.

Over the years, I’ve developed a handy-dandy document called “basic principles of fund development.” I update and change it as the spirit moves me. I’m particularly fond of the current version, shared here. Use this for discussion with your staff and with your board.

Fuzzy math and the misallocation of scarce resources has the Ethicist concerned. Bad management, he says, almost always creates ethical dilemmas and always leads to bad policy.