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.
Disclosure: I was a Managing Director at Lehman, I left at the beginning of 2005. I am vested in their now worthless executive compensation plan. I own a condo in Manhattan that is certain to fall in value but I gotta live somewhere so I won't sell. I have not seen him since I left Lehman but I knew and liked Joe Gregory. He was part of the team of people who recruited me to Lehman Brothers from Morgan Stanley. I found him to be a direct and reliable manager and I am sorry he has to go through this recent crisis. If I know him, he will turn it around for himself and end up at some lucky organization in a productive capacity. After all, his personal losses are only financial. It is possible that he was planning to sell this house before Lehman collapsed.
The Real Message Behind the Bailouts Written By: Jeanne Roberts 2008-09-17 12:54:23 Photo: wallyg, Creative Commons, Flickr
There’s a message behind the recent bailouts, but it isn’t what you think.
