Author Archives: Felix

The LBO Bubble Bursts: Not Necessarily a Bad Thing

Steve Schwarzman might
not be a happy bunny today, but I don’t think Warren Buffett
is losing any sleep.
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Posted in bonds and loans, stocks | 1 Comment

MLM Schemes: A Very Bad Idea

Many MLM schemes can be extremely profitable, for their owners.
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Posted in personal finance | 4 Comments

Vernon Smith to Work on Californian Public Policy

I can see why Smith and his team would jump
at the chance to leave their ivory tower and actually build something big in
the real world.
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Posted in economics | Comments Off on Vernon Smith to Work on Californian Public Policy

Eyes on the Dow

The Dow is still well above 13,000, and in fact has never traded this high in its history except for a brief period earlier this month.
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Posted in stocks | Comments Off on Eyes on the Dow

The Futility of Talking Growth

Matt Cooper wants the Democratic presidential candidates to
"talk
growth
".
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Posted in Politics | Comments Off on The Futility of Talking Growth

Adding Up Blackstone’s EOP Divestitures

I’m a little confused by Jennifer Forsyth’s WSJ
article today
explaining how Blackstone’s Jonathan Gray
has sold a large chunk of Sam Zell’s EOP property portfolio
for $27 billion.
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Posted in private equity | Comments Off on Adding Up Blackstone’s EOP Divestitures

The Clothes of Thomas Barrack

A fondness for tasseled loafers.
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Posted in fashion | Comments Off on The Clothes of Thomas Barrack

Overcoming Bias in Crowdsourcing

Aaron Naparstek reports
that "WNYC’s Brian Lehrer wants to know how many
SUV’s there are on your block."
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Posted in cities, economics | Comments Off on Overcoming Bias in Crowdsourcing

Why Options Backdating is Wrong

Mark Stein has an excellent
overview
today of exactly what is wrong with options backdating (and I’m
not just saying that ‘cos he’s my editor at Portfolio).
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Posted in pay | Comments Off on Why Options Backdating is Wrong

Apple’s iPhone Revenues

Apple seems to have transcended the stock market
to become some kind of pop-cultural phenomenon – not as a technology company,
but as a stock.
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Posted in technology | Comments Off on Apple’s iPhone Revenues

Apple’s Opening Weekend

We know that Hollywood films live and die on their opening-weekend sales. But
iPhones?
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Posted in technology | Comments Off on Apple’s Opening Weekend

The Reputation of Damien Hirst

Bess Levin today finds
a most
peculiar editorial
in the International Herald Tribune, on one of my favorite
subjects, the intersection of art and money.
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Posted in art | Comments Off on The Reputation of Damien Hirst

Banks Stuck With Unwanted Chrysler Debt

Suddenly, underwriting billions of dollars
in junk-rated debt looks less like a profit center and much more like a very
bad idea.
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Posted in bonds and loans | Comments Off on Banks Stuck With Unwanted Chrysler Debt

Dodgy Counterfeit Statistics, Software Edition

$500 million: that’s a lot of money. How much software is that?
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Posted in intellectual property, statistics | Comments Off on Dodgy Counterfeit Statistics, Software Edition

Mortgage Mess: It’s Not the Fault of Accounting Rules

There are many reasons why the mortgage market is looking ugly right now. But accounting rules in general, and FAS 140 in particular, are not among them.
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Posted in housing | Comments Off on Mortgage Mess: It’s Not the Fault of Accounting Rules

When Public Companies are Still Private Fiefs

When a private company is dominated by one all-powerful founder, the chances of it making a successful transition to becoming a publicly listed company are slim.
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Posted in stocks | Comments Off on When Public Companies are Still Private Fiefs

Why Hedge Fund Managers Don’t Blame Themselves For Losses

I don’t need to pick on Bear Stearns here: in fact I’m struggling to come
up with a single hedge-fund collapse which didn’t blame some kind of
"unprecedented" event.
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Posted in hedge funds | Comments Off on Why Hedge Fund Managers Don’t Blame Themselves For Losses

Bookstaber Blogs: Why Hedge Fund Managers Make Less Than You Think

Rick Bookstaber is blogging!
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Posted in hedge funds | Comments Off on Bookstaber Blogs: Why Hedge Fund Managers Make Less Than You Think

Emerging Markets: Yields and Spreads

Alphaville’s Gwen Robinson has gotten
her hands on
some research from CLSA’s Christopher Wood,
who foresees emerging-market debt yields even lower than the yields on US Treasury
bonds.
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Posted in bonds and loans, emerging markets, foreign exchange | Comments Off on Emerging Markets: Yields and Spreads

Bill Gross Joins the Billionaires-for-Tax-Hikes Club

Add billionaire Bill Gross, of Pimco, to the list of rich
men who want to raise taxes on the rich.
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Posted in economics, pay, taxes | Comments Off on Bill Gross Joins the Billionaires-for-Tax-Hikes Club

Rail Privatization: Is Germany Doing it Right?

The planned IPO of Deutsche Bahn could go very well.
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Posted in privatization | Comments Off on Rail Privatization: Is Germany Doing it Right?

More Details Emerge on GMU Economics Upheaval

Midas Oracle has more
details
on the news
that most of GMU’s Interdisciplinary Center for Economic Science (ICES), led
by Nobel laureate Vernon Smith, is moving to California.
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Posted in economics | Comments Off on More Details Emerge on GMU Economics Upheaval

Why It’s OK to Trust Ratings Agencies

Over the past decades, it’s very hard to find areas where the ratings agencies have been spectacularly wrong.
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Posted in bonds and loans | Comments Off on Why It’s OK to Trust Ratings Agencies

GMU’s Other Star Professor Leaves

To lose one star economics professor to a minor-league competitor could be considered a misfortune; to lose two looks like carelessness.
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Posted in economics | Comments Off on GMU’s Other Star Professor Leaves

The Barclays Catch-22

Dennis Berman talked to Barclays president Bob Diamond
today, and got this astonishing admission:
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Posted in banking, M&A | Comments Off on The Barclays Catch-22