Monthly Archives: August 2007

Revisiting Green Dimes

Last month I wrote about junk-mail reduction company Green
Dimes
, calling
it
a VC-backed for-profit philanthropy. I met with the CEO, Pankaj
Shah
, on Saturday, and he was hesitant to go that far: his company
was "socially responsible," he said, but he wouldn’t necessarily call
it a philanthropy.
Continue reading

Posted in climate change | Comments Off on Revisiting Green Dimes

The Travails of Johnson & Johnson

If there was one corner of the debt market immune from present credit woes, one would imagine it to be the market in unsecured, “natural” AAA-rated securities.
Continue reading

Posted in bonds and loans | 2 Comments

Why a Goldman Sachs Hedge Fund Investment Might Look Attractive

Commenter tinbox has an
interesting take
on the news that Goldman Sachs is injecting liquidity into
its own hedge funds:
Continue reading

Posted in hedge funds | Comments Off on Why a Goldman Sachs Hedge Fund Investment Might Look Attractive

Chart of the Day: West African Trucking Obstacles

Charles Kenny points me to a study
of the obstacles to trucking on West African roads, which includes this wonderful
chart.
Continue reading

Posted in development | Comments Off on Chart of the Day: West African Trucking Obstacles

Counterparty Risk in the CDS Market

Yves Smith is worried
about counterparty risk
in the credit default swap (CDS) market.
Continue reading

Posted in derivatives | Comments Off on Counterparty Risk in the CDS Market

Floating Art for Rich Rubes

Are you worth a few million bucks? Do you live near the ocean in a large and
ostentatious house with a lot of walls? Do you not know much about art but you
know what you like? Then welcome aboard the Grande Luxe!
Continue reading

Posted in art | Comments Off on Floating Art for Rich Rubes

Mortgages go Messianic

It seems that Patrick Flood, the former CEO of
Christian mortgage lender HomeBanc, has a fully fledged Messianic
Complex
.
Continue reading

Posted in housing | Comments Off on Mortgages go Messianic

Conflicts of Interest at the Ratings Agencies

The problems come when a ratings agency, after having worked closely with an issuer for a long time, gets lazy about asking tough questions.
Continue reading

Posted in bonds and loans | Comments Off on Conflicts of Interest at the Ratings Agencies

AQR Also Hopes To Put More Money Into Quant Funds

Bess Levin of Dealbreaker has
the letter
that AQR principal Cliff Asness sent to investors worried about losses in his
quant-based hedge funds.
Continue reading

Posted in hedge funds | Comments Off on AQR Also Hopes To Put More Money Into Quant Funds

Mark-to-Market vs Mark-to-Model in the Insurance Industry

When insurance companies have been in their business for decades or longer, while the open market in such things is very young, does it really make sense for insurance companies to use market valuations rather than their in-house models?
Continue reading

Posted in insurance | Comments Off on Mark-to-Market vs Mark-to-Model in the Insurance Industry

Nice Work If You Can Get It

Half a mil a year to answer phone calls.
Continue reading

Posted in private equity | Comments Off on Nice Work If You Can Get It

Why Did BP’s Browne Resign?

In the September issue of Portfolio, Mimi Swartz has the definitive
account
of l’affaire John Browne.
Continue reading

Posted in defenestrations | Comments Off on Why Did BP’s Browne Resign?

Quant Fund Pain: Is The Worst Over?

There have been a lot of losses in quant-based hedge funds in recent days.
But the smart money, it seems, is
bullish
:
Continue reading

Posted in hedge funds | Comments Off on Quant Fund Pain: Is The Worst Over?

Admit mistakes!

Clark Hoyt, the NYT’s Public Editor, has a proposal: How about requiring a personal letter of apology from the person responsible for an error to the person whose name is misspelled? I’m always a bit wary of proposing rules like … Continue reading

Posted in Not economics | Comments Off on Admit mistakes!

Counting Ads in the WSJ

How can the WSJ make itself more attractive to display advertisers?
Continue reading

Posted in Media, publishing | Comments Off on Counting Ads in the WSJ

How The Fed Can Avoid Cutting Interest Rates

I like the idea of the Fed cutting its discount rate – which is currently at 6.25% – rather than the Fed funds rate.
Continue reading

Posted in fiscal and monetary policy | Comments Off on How The Fed Can Avoid Cutting Interest Rates

Understanding Investments

Barry Ritholtz has words
of advice for young and old
:
Continue reading

Posted in personal finance | Comments Off on Understanding Investments

When Volatility Strikes

We’re not on the brink of Armageddon.
Continue reading

Posted in banking, bonds and loans, hedge funds | Comments Off on When Volatility Strikes

Gmail limits now upgradable

O frabjous day! Gmail has finally allowed those of us bumping up against its storage limits to buy more. And about time too.

Posted in Not economics | Comments Off on Gmail limits now upgradable

Fed Announces It Will Do Its Job

Over the course of the Great Moderation, a lot of people forgot the difference
between the Fed funds target rate (that’s the number set at FOMC meetings) and
the actual Fed funds rate (the actual, real, interest rate). No one forgot about
that difference this morning, when the Fed funds rate was standing
at 6%
.
Continue reading

Posted in fiscal and monetary policy | Comments Off on Fed Announces It Will Do Its Job

Profiting From Illiquidity

You need liquidity to profit from a liquidity event.
Continue reading

Posted in bonds and loans | Comments Off on Profiting From Illiquidity

Countrywide vs Barclays in the Stock Market

A quick update for those of you keeping track of shares in the finance industry.
Continue reading

Posted in banking, stocks | Comments Off on Countrywide vs Barclays in the Stock Market

The Commercial Paper Market Gets Perilous

The entire CP edificie – which is mind-bogglingly enormous – is predicated on CP issuers being able to roll over their debts
Continue reading

Posted in bonds and loans | Comments Off on The Commercial Paper Market Gets Perilous

Universal Uncripples Music, Cripples Music Retailing

I’m very happy that Universal is experimenting with uncrippling its music. But I do hope it doesn’t cripple online music retailing in doing so.
Continue reading

Posted in Media, technology | Comments Off on Universal Uncripples Music, Cripples Music Retailing

Counterfeiting Statistic of the Week

Olive oil for $82.60 a liter.
Continue reading

Posted in statistics | Comments Off on Counterfeiting Statistic of the Week