I took El Sol on a three day hike over the Memorial Day weekend on the Boardstand Road & Old Military Road Trail loop of the Ouachita National Recreation Trail system in east Oklahoma. The pack performed beautifully on the trail. In camp, it was unloaded enough that the frame flex issue didn’t recur with it standing overnight against a tree. The only equipment problem I had was a zipper failure.

El Sol has nylon zippers. One of the large side pockets was loaded causing a stress point against the middle of the zipper and it split open during the hike. I was able to force the zipper to properly unzip and then zip back again and it seemed OK. Since then that point of failure has proven itself to be weak and that zipper will not stay closed if the pocket is full. However, I found a workaround solution. That pocket zips from the top and the bottom. If the zipper pulls are brought together near the weak point instead of high or low, the zipper holds just fine. This works pretty well, but I think it would be good if next year’s model uses a heavier zipper, like the main compartment zipper, on the two large pockets. I know that will just add more weight to an already heavy pack. It is a tradeoff.   

I found I like the pockets on the hip belt. I took week-long trips using El Sol in the Pecos Wilderness in June and September this year. After a few variations I settled on a compass and camera in one belt pocket and snacks in the other. The hydration system works well, but I learned the first time out with it that it is important to cover the mouthpiece when applying DEET with the pack on. Yuck - no wonder insects don’t like that stuff.

The rain cover fits nicely round the pack, with elastic to hold all the way around, and it is attached to the top flap pocket so it won’t get away from you. Drying the rain cover is a bit of a challenge around the elastic bunching, but this isn’t a very big problem.

Right out of the box - adjust to fit

The pack looks good. It has a solid design and seems well constructed. The frame allows easy adjustments for torso length and waist/hips size by changing which slots the straps use. It came with the straps set for the longest torso and widest hips. The mesh back band is typical for an external-frame pack and although it was installed, it was not tied taut at all. I retied it as tight as I could without changing where it was or how it was tied. Before I put a load in the pack I found that the mesh did not keep the frame off my back and it was uncomfortable. Upon examination it became obvious that I could move the mesh up to the area where the frame hit me, so I did. That helped.

I put 40 pounds in the pack and adjusted the straps. I had a good fit. I carried it a mile on level ground and it felt really good. I added ten more pounds and walked down and up the hill by my house. It still felt good. I still hadn’t removed the tags, and I wanted to be absolutely sure this was “a keeper” before I cut them off. Comfort was my first criteria, and El Sol had passed that test. At this point I closely examined the features of the pack I finally had in my hands.

El Sol is a big pack. The top extends to allow over 5,000 cubic inches inside, plus there is room below the pack to strap a tent to the frame. It has two large side pockets on the pack, two more “normal” pockets, and each of these four have an outside elastic mesh pocket (the pockets have pockets.) There are two more zipper pockets on the hip belt. A pouch goes over the top. They say it is removable, but I haven’t figured out how. That pouch has a second zipper pocket with a rain cover. The empty weight of El Sol is more than my old pack, but I sure do like its features.

The main compartment can be extended upward and or divided (zipper shelf) into a large upper and smaller lower section. A zipper arc provides access to the lower section of the main compartment. A heavy-duty zipper provides access to the upper section in addition to the double drawstring top opening.

The main compartment has a sleeve designed to fit Outdoor Products’ 2 liter Cyclone® hydration bladder and a hole to feed the hose through. There is a clip for the hose on the left shoulder strap. As an early adopter, my pack came with the hydration system included, but product information now shows it “sold separately.” I have seen the hydration system at Wal-Mart, so I feel good about my prospects for replacing that if I need to someday. Another change seems to be in color choices since the blue I bought is no longer available.

The shoulder and hip straps are padded and comfortable to me. It has the usual adjustments for lifting shoulder straps off the top of the shoulder, a sternum strap for keeping them centered, and pulls to change the pack frame angle from the hip belt. I had no trouble getting a full load balanced to put the weight on my hips and use my shoulders to keep the pack upright without tipping me over.

The unique frame is 37 inches long. The Enduroflex™ material feels like molded plastic. The frame is rigid enough to provide load lift from the waist that I expect from an external-frame pack. It is also flexible and gives a little with twisting movements. Since I am used to a very rigid frame this felt different, but it feels good so I adapted quickly.

The next day I picked up the pack and noticed the flexible frame didn’t appreciate leaning with a 40 pound load. It had taken on a slight curve. It took a few minutes to recover its shape while I walked in it, so when I took it off I laid the still loaded pack on the pack face, leaving the frame unstressed. I didn’t have the new shape issue again as I went through my season of training hikes in the neighborhood.

I have helped several people select and fit backpacks, but until this year I used a pack from 1972. Last fall I decided it really was time to replace my Mac Pac.  Here is my story of that process.

Start with the need

I tell people never to get a backpack bigger than you really need because you will fill it and then have to carry it. My typical trail itinerary is six days at elevations from 8,000 to 13,000 feet during summer and early fall. We have frosty nights and warm days. I carry a week’s worth of food, layers of clothes with a change of socks, sleeping quarters, and a share of kitchen gear and fuel. My old pack has an external frame and 3,200 cubic inches of capacity, plus room to strap more on the frame. That had usually been about enough capacity for my needs and heavy enough to not want more.

Consider personal preferences

Another thing I tell folks is that until you have a preference, you aren’t ready to buy equipment. I discourage first-timers from buying any equipment other than boots because they may not like backpacking, and they don’t know what they want. When they have decided they want to go backpacking again and have attitudes about equipment, then they are ready to consider buying equipment. Until then, they borrow gear.

I prefer external-frame packs for load handling and letting my back “breathe.” Most of my hiking buddies switched from external-frame packs to internal frames years ago. They tell me how great their packs feel and how much better it is than their old external-frame pack. As I began my search for a new pack I went to several retailers and found few choices in external frames. I tried the external frame packs, but none fit as well as my old custom pack. I decided to give internal frames a chance.

Among internal frame choices, Osprey had serious contenders. They adjust to an exact fit, and are very comfortable with a moderate load (under 40 pounds). The good folks at Backwoods patiently adjusted several models for me, but the back ventilation was not up to my expectations and load distribution did not feel like I am used to. They also seemed a little heavy, but none of the packs with features I was looking for were as light as my old pack. Oh – and I hoped I wouldn’t have to spend $300 for a decent fitting pack. I kept looking.

Widen the search

By searching the Internet I found more brands and options but most of the good looking choices were still over $300. By December I found a company I was not familiar with – Outdoor Products, Inc. They had a full line of packs, and had a new model, El Sol, with the longest frame I had seen. The Saturn looked like it might be plenty big, but the frame on El Sol intrigued me since I have a long torso. The bag had several design features more common on internals. I found the other models from Outdoor Products at several vendors, but couldn’t find El Sol anywhere. I called the company. El Sol was new and wouldn’t be distributed until March. In March I found El Sol at CampMor online for about $100. The web page showed more spec’s on the pack than I had seen in the early information from the manufacturer. I was excited about the possibilities of this pack, but since I still couldn’t find it stocked at any local retailers I ordered it online. My wife has heard me talk about the importance of good fit and she was shocked that I ordered a pack I hadn’t tried on. I thought this was the only way to try the pack, and that I would return it if I didn’t like it.

Next time - the pack arrives 

When Ben speaks, Wall Street listens. Federal Reserve Chairman Ben Bernake spoke Monday in New York and reported slowing in economic growth in 5 of the 12 regions measured by the Federal Reserve Bank.  This supports the position for further cuts in interest rates.  The slowing crosses industry lines, but is perhaps most pronounced in housing, which will impact many industries and regions. Bernake said "further contraction in housing is likely to be a significant drag on growth in the current quarter and through early next year." And the market spent the week in a decline.

http://finance.google.com/finance?chdnp=1&chdd=1&chds=1&a

So, fellow investors, where are the investment opportunities? How will consumers and businesses behave in coming months and years? How will the market anticipate and respond to this and coming news? Uncertainty of outcome is the definition of risk. Uncertainty creates opportunity. Great uncertainty creates great opportunity.

I need to start with a disclaimer so I don't give the impression that I didn't play as a child, because I did. Dudley Mitchell and I dug to China. Alex Lewis and I had a tree house. I had a swing set, and a fort in the woods and rode my bicycle down the street to Bill Ailor's house. Tony Spiva (Economics professor from UT Knoxville) brought a live cheetah to our Y Indian Guide meeting when it was at our house. I caught a kitten in the hayloft at Grandma's house and it was my cat for many years. I played little league and all that stuff. Dad pitched to me in the yard, but I had to field my own home runs if we didn't have anybody fielding. And I joined Boy Scouts when I was 12 which led to a life-long hobby of backpacking which is still how I play.

That said, adult discussions at home more often involved the stock market and business opportunities than children's stories, but everyone could participate. After I was 8 years old, every fall I offered and got a fixed price contract to remove snow from the driveway and sidewalk for the winter season - and some years got paid for doing not much and other winters I knew I was working way too cheap, but I always had money to spend on Christmas presents.

When I was nine years old I had about $85 from birthday and Christmas money that I wanted to invest. There were always discussions of stocks and the market at home. I had a relative that had worked the Texas oilfields for Occidental Petroleum during the oil boom days decades before. He spoke highly of them and continued to follow their stock. I decided to buy 3 shares of Occidental Petroleum at $27. That would have worked except commissions on odd-lot trades in those days would have eaten the whole amount, so my dad said he would be my broker. I watched the stock go up sometimes but down a lot over the next several years. 

When I was 12 I told dad that OXY wasn't working for me and I wanted to take my losses and get out. I had some more money by then that I wanted to add to my acount. He asked what I wanted in, so I did some studying for my next stock pick. I was surprised and relieved when he told me that since he was my broker and hadn't executed the prior trade that what I really had in "my account" was the money I had given him three years before, plus some interest. 

Skip ahead ten years to graduate business school finance classes in securities analysis, portfolio management, management of financial institutions, and two semesters on the student-run Educational Investment Fund (EIF) at TCU. We learned all about the efficient market hypothesis, random walks, portfolio management, fundamental analysis, technical analysis, and the inability of an individual investor to consistently "beat the market" on a risk-adjusted basis. I retreated to investing in mutual funds and abandoned a dream of becoming a portfolio manager. 

Skip ahead another twenty years or so to the present. Dad died two years ago. Mom is still managing her own portfolio, and although she adeptly gets updates online throughout the trading day, she is less confident at age 85 that her down days aren't a product of her poor picking ability than the gyrations of a fickle market. So now she wants some help managing her trading account. Her plan is to split the portfolio and hand off part of it to a new account that has me set up as manager. So now - how to manage the portfolio for her? 

I have to start with an understanding of her risk tolerance, but she is as risk tolerant as they come and she views this money as "your inheritance" and not something she needs "to live on". So maybe I have to temper this by my own risk aversion. Also, she has losses she can take against gains or dividends I can generate, so I don't have to manage it in a way to minimize her taxes. 

In looking for investment opportunities I like to start with a broad view. I evaluate the overall state of the global economy, first with the US economic business cycle, pressures on inflation, interest rates, money supply, GDP growth, and comparison to other countries. Then I look at industries and sectors for opportunities, and finally drill down to companies to evaluate. Company evaluation almost always resembles a case study. If you are interested, I will be adding presentations and maybe more blog entries as I get into this project. 

update:

1. Investing - data sources: Federal Reserve Bank of St. Louis
2. File: Monetary Growth Rates
3. File: Monetary Growth Rates
4. File: MZM Money Stock
5. File: GDP
6. File: Fed Funds Rate

David, one of my walking partners, came by yesterday evening to return a couple of backpacks he had borrowed for his hunting trip to Crested Butte. They had elk tags, but only saw mule deer, so they didn't need serious packs for carrying out field dressed elk after all. They had good weather, saw beautiful terrain, enjoyed comraderie, and had no injuries, so it was a good trip except for not getting what they went for - elk. He indicated they had not been able to walk as far as I did on my trip about the same time in New Mexico, since they had returned to their cabin each day. Perhaps he will go with my group next time - we know walking is all we are going to do.

I realized during that conversation that I had not taken a walk since returning from the wilderness a few weeks ago. I am conscientious about training before high altitude treks, but lackadaisical about conditioning otherwise. So tonight I took a little walk in the neighborhood. Since I was walking alone, I was able to increase the pace without worrying if other folks would/could keep up. I covered my normal route in 45 minutes. Granted, I didn't carry a pack or wear my hiking boots tonight, but I usually take an hour to walk that circuit, so I feel good about not being completely back to couch potato status. And I wasn't breathing hard at any point, either.

Now I just need to get with a weight training program and work on overall strength. I set of goal of getting my weight under control in 2006, and I lost 50 pounds in six months. This year is the year I was supposed to work on strength and endurance. I feel pretty good about my endurance, but it is time to get after strength now. And maybe get my weight back to where it should be, since I have gained back half of what I lost. It turns out that eating vegetarian doesn't insure weight loss if the calories are supplemented with Fritos and pie. I sure do like Fritos. And did I tell you about the lady selling homemade pie to raise money for missions at her church. I mean, don't you have to support a good cause like that? Last week was pumpkin pie and this week was pecan pie. I was just trying to do my part to help out. One pie per week is all she asks. I wonder what kind next week is? Maybe I should go do another lap through the neighborhood.

Today was my first day back at work after a week spent above 11,000'. Besides there being way too much oxygen now that I am back at 300' elevation, the contrast in how life is spent is just as overwhelming. Finding and using the plumbing in the house immediately after getting out of bed was a welcome change from the complexities of even the simplest tasks on the trail, but the relentless alarm clock that triggered the first event of the day was most unwelcome. On the trail, we got up when light entered the tent, and most of us were eager to go view the sunrise. The one in our crew who used the week on the trail as his time to not have to get up before the sun was easily coaxed out by an actual cup of good coffee brought to the tent. Having our own certified Starbucks barista running the trail kitchen definitely has its "perks", so to speak.

On the trail, we made a point of not "being on a schedule." This is a ruse we play on ourselves because we really do have to make camp before dark, or be off the trail by a given day and even time of day, but we enjoy believing we aren't on a schedule and can spend each day as we choose. After we have breakfast (that pre-cooked bacon that doesn't require refrigeration is amazing when served hot and crispy) we talk about choices for how to spend the day, whether we are going to move camp further up the trail, and where we will camp tonight if we do move. To further the illusion of having no schedule to keep, on Monday (first morning on the trail) we decided we would not move camp again from this first trail camp, but we would keep exploring the myriad of cross trails nearby until Thursday and hike out then, leaving all day to get out of the wilderness and Friday to return to civilization. We were back in camp each afternoon in time to take a nap or have "quiet time" on the mountainside, or read before fire/water chores and starting dinner. We definitely were not rushed.

The contrast in the pace couldn't have been more clear than this morning when I sat at my desk, and as I woke up my notebook (which I had intentionally not taken with me), saw voicemail waiting, retrieved it, and before I could get into last week's email the phone rang. Then in the emails there was the notice about a meeting at 8:30 this morning that I needed to be at. Give me a break. I want to go back to the wilderness. I walk to talk with a very few close friends about things that matter in life. I want time to sort out what I want to do today. I want to hand my tent-mate a cup of coffee after I come back from watching the sunrise. I want to sit quietly on the side of the mountain and listen for the still quiet voice to confirm that life is good and that there is purpose in everything and a place for me in the expanse that is the universe. I want to walk away from the campfire to get a better view of the milky way, see four falling stars in one night, see who can spot a satellite first, and listen to Brian make his joke about candy bars in the sky (it is so much better than the casper joke he used to tell during star-gazing). But I am here. And I won't likely be back in the woods until next summer because the hiking season is so short up there. So I close my eyes. I take a deep slow breath. And I go see my friend who "called" this meeting I should be at, and the day takes off. Yet somehow, I am not here. Part of me is on skyline trail walking through the forest that burned out in the viveash fire of 2002 but is somehow teeming with new life now. Part of me is looking for a spring where we can get water on the ridge. Part of me is exploring for new campsites we will use on yet another trip to the woods. 

And the weather improved each day as the week went on. The hurricane that came across New Mexico from the Pacific and across Mexico brought us rain, and some interesting nights early in the week, but we had blue skies and good stars by mid-week. We were in the Pecos Wilderness in the Sante Fe National Forest in northeast New Mexico, which has had an amazingly wet year resulting in an extended growing season. When I took students hiking in June we encountered snow blocking some of the high-country trails. That snow was from the heavy winter snows which had not finished melting. The streams were gushing and the valleys were green then. Even the alpine tundra above 11,000' was still green this week, and it seemed the elk were a little behind their usual calendar in gathering the herd to the high country. It seems that their schedule is less ruled by my calendar than by their food sources which seem to be still abundant. And we didn't have frost any night this trip. That could be a result of starting at 11,400' trail head instead of in a valley where cold air pools at night. And it could be the wilderness is on its own schedule this year.   Hold my calls, will you?