Post-Vacation Blues and the Current Market Written By: Eben Esterhuizen 2008-07-15 02:42:23 Photo: Petrick2008, Creative Commons, Flickr
Since coming back from my holiday last week I've made a point of walking past the New York Stock Exchange on my way to work. I sat on a bench and looked at the traders as they exited the building after the close, and every now and again I eavesdropped on their conversations.
Something is wrong.
I keep telling myself that it's all going to be OK, I keep telling myself that things are never as bad as the fear mongers proclaim, but I can't shake off the feeling that the situation is about to take a turn for the worse...
Tax-Exempt Money Market Funds Written By: Michelle Haimoff 2008-10-05 14:12:04 Yields on tax-exempt money market funds have shot up in the last two weeks due to massive withdrawals from tax-exempt municipal market funds. At an average seven-day annualized yield of 5%, these money market funds are offering the highest yielding short investments since the 1980’s.
The China Syndrome: Lessons from Confucius and Some Others Written By: Thomas Chenoweth 2007-12-07 12:40:00
China's stock market pattern is beginning to remind me of Japan's "irrational exuberance," as witnessed in the early nineties where a decade of fantastic growth was followed by a decade of flat to lower stock prices. I struggle many times with why investment dollars flow to a country with serious human rights issues and a government that borders on oppressive. But the fact remains that China's GDP growth north of 10 percent in the last few years is big enough to wake Chinese philosopher Confucius out of the grave to take notice and teach us a few things. Confucious once said:
In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.
The End of Hedge Funds Written By: Eben Esterhuizen 2008-03-19 00:24:29
If you are invested in a hedge fund, you should read Martin Wolf's explanation of why today's hedge fund industry may not survive. Mr. Wolf argues that the hedge fund industry is bound to attract "the unscrupulous and unskilled," because it's hard to distinguish luck from skill. He further argues that most hedge funds follow strategies that have "a high probability of a modest gain and a low probability of huge losses in any period.". The implication here is that the hedge fund industry has been picking up pennies in front of the steam roller, and that a doomsday event could wipe out the industry.
Photo:B-Tal, Creative Commons, Flickr
Time, Money and Airport Delays Written By: Eben Esterhuizen 2008-06-10 00:43:10
Time is money, especially when it comes to airport delays. In 2007, travelers lost 320 million hours to flight delays, according to Forbes Magazine. A May report from Congress' Joint Economic Committee put the total losses at $40 billion annually. As Forbes points out, everyone is frowning, except the vendors in the terminal. People don't take it out on Starbucks or Hudson News when their flights are delayed; in fact, they'll likely buy a latte while they wait. What else can you do when you are locked inside a shopping mall?
