Posts Tagged ‘finance’
Well, this is something you don’t see every day. One hedge fund decided to tell the bitter* truth in its annual letter to investors: Dear investor, In line with the rest of our industry we are making some changes to the language we use in our marketing and communications. We are writing this letter so [...]
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Tags: economy, finance, funny
Equity and the Banking System
Writing in London Review of Books, Andrew Haldane provides a brief history of banking (with emphasis on the U.K. banks) and considers the too-big-to-fail conundrum: Consider the effects of the too-big-to-fail problem on risk-taking incentives. If banks know they will be bailed out, those holding their debt will be less likely to price the risk [...]
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Tags: banking, finance, investing, too big to fail
Tadas Viskanta, founder and editor of financial blog Abnormal Returns, writes that there has never been a better time to be an individual investor. Citing the advent of low-fee ETFs, blossoming of options markets, and most importantly the rise of technology and social tools, Tadas explains his argument: Easier: Investors today can with a brokerage [...]
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Tags: Abnormal Returns, blogging, finance, investing, Tadas Viskanta
On Art as Investment
Sarah Thornton writes about the “gravity-defying surge” of people buying art as investments: The bulk of revenues comes from “ultra high net worth” individuals, many of whom operate at a level far above national economies. Even those who have taken blows in recent years remain super-rich. If they were worth £3bn in 2007, maybe they’re [...]
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Tags: art, finance, investment
In his most recent letter to shareholders, Warren Buffett is bullish on stocks and bearish on commodities such as gold. He explains that gold is an asset that will never produce anything, but is purchased in the buyer’s hope that someone else — who also knows that the asset will be forever unproductive — will pay [...]
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Tags: finance, gold, investing, Warren Buffett
Nye Lavalle, Mortgage Sleuth
From my own personal experience and 20 years of research and investigation, nothing — and I mean nothing — that a bank, lender, loan servicer or their lawyer says or puts on paper can be trusted and accepted as true. The quote above comes from Nye Lavalle, who after his personal experience of losing his [...]
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Tags: Fannie Mae, finance, Freddic Mac, mortgage, mortgages
Facebook announced its IPO yesterday, in an effort to raise $5 billion (perhaps more), which will be the largest internet public offering ever. Many people who hold Facebook shares are poised to become millionaires overnight. The New York Times reports a story of one David Choe, a graffiti artist who painted murals on the walls of [...]
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Tags: David Choe, Facebook, Facebook IPO, Facebook S1, finance, lottery, stocks
The New York Times has a story on Atlanta’s depressed housing market. It paints a dire picture of my hometown: The reasons for Atlanta’s housing woes are both representative of the nation’s troubles and special to this former boomtown, where housing appreciated handsomely, though not to the lofty heights of Las Vegas, Miami and New [...]
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Tags: Atlanta, finance, real estate
Tyler Cowen has a simple theory why young people tend to go into law, finance, and consulting: The age structure of achievement is being ratcheted upward, due to specialization and the growth of knowledge. Mathematicians used to prove theorems at age 20, now it happens at age 30, because there is so much to learn [...]
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Tags: data, economy, finance, jobs, Tyler Cowen
Germany: America of Yesteryear
This piece in The Los Angeles Times highlights how Germany of today is like America in the 1970s: In 1975, manufacturing accounted for about 20% of the United States’ economic output, or gross domestic product, about the same as in Germany today. Since then, U.S. manufacturing’s share of GDP has slid to about 12%. In [...]
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Tags: economy, finance, Germany, unemployment, United States
