Author Archives: Felix

Vernon Smith Leaves GMU; Bloggers Silent

One might almost think that a don’t-blog-this edict had gone out, either explicitly or implicitly.
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Harry Kat: Changing His Tune?

Earlier this month, John Cassidy profiled
Harry Kat, hedge fund replictor. It certainly seemed that Kat’s
business was to replicate the returns that hedge funds generate, if not on a
month-to-month basis then certainly over the medium term.
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Vonage: Bad for Shareholders, Good for Consumers

Vonage’s business model might not be great for its shareholders, but it’s certainly good news for consumers.
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Posted in technology | 5 Comments

Transocean’s Unnecessary $15 Billion in Debt

The era of leveraged deals is far from over, it would seem.
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Unanswered Questions at Bear Stearns

Does anybody really understand what happened at the two Bear Stearns hedge funds which have now imploded?
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When Governments Buy Companies

Most foreign takeovers do not pose any kind of national-security problem at all.
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Using the iPhone Abroad

I’ve been doing a bit of homework, and I think I now know most of what there
is to know about using the iPhone abroad. In a word: Beware.
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Give Your Money Away

The rich use economics – or, more to the point, economists – to delude themselves that they shouldn’t give their money away.
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Blackstone and Orbitz Tumble

Whose bright idea was it to take Orbitz public under the ticker symbol OWW?
That’s certainly the sound that Blackstone chief Steve Schwarzman
is making today
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New ABX Mortgage Index Still Looks Ugly

The much-followed ABX index of subprime mortgage bonds rolled over yesterday.
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Posted in bonds and loans, housing | Comments Off on New ABX Mortgage Index Still Looks Ugly

Low Rates: Dead or Alive?

It’s the duel of the newsweekly pundits! Is God dead, or is God alive? (And
by God, of course, I mean the era of low interest rates.)
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Congestion Pricing is Important

Yesterday, the New York congestion
pricing deal
was big news.
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Repugnant Markets

Blogger Tim Harford got blogger
Virginia
Postrel
, blogger Robin
Hanson
, and a few non-bloggers such as the Bishop of Swindon to all talk
to him for a fascinating BBC radio documentary
on repugnant markets
. Go read the transcript:
it’s great stuff.
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New York Congestion Pricing: It’s Alive!

Aaron Naparstek of Streetsblog has details
of the congestion-pricing deal
which was struck in Albany today, and I have
to say it’s a good one.
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Dell: Immune From Delisting

The Nasdaq board has decided that Dell shares can
continue to trade on their exchange indefinitely
, despite the fact that
it hasn’t filed its past four quarterly reports, or its annual report.
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Green Dimes: The VC-Backed For-Profit Philanthropy

Green Dimes
has just raised
more than $20 million of venture capital
from Tudor Investment Corporation
and others.
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The Economics of Tour De France Breakaways

Andrew Leonard finds
a great piece of microeconomic analysis in
the sports pages
, of all places, from the NYT’s Edward Wyatt:
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China Moves Out of Treasuries to Support the Mortgage Market

The Bush administration is very serious about it getting China to support the market in mortgage-backed securities.
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iPhone Questions for Kevin Maney

Does Kevin Maney
take requests? I do hope so, because Walt Mossberg’s mailbox
column
this morning uncharacteristically raises more questions than it answers.
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Shari It Didn’t Work Out

It’s not easy, being the daughter of a media mogul and working for your dad.
Elisabeth Murdoch left News Corp to start her own company,
Shine. Today we learn
that Shari Redstone is leaving Viacom.
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The Blogs vs Dennis Kneale

Forbes managing editor Dennis Kneale isn’t having a good time
of it in the blogosphere today.
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Chart of the Day: Fixed vs Variable Subprime Default Rates

Alea today finds the most astonishing
chart, which I simply have to reproduce:
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Why the Subprime Mess Doesn’t Require a Fed Rate Cut

Brad DeLong has
capitulated
.
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Posted in fiscal and monetary policy, housing | Comments Off on Why the Subprime Mess Doesn’t Require a Fed Rate Cut

Blowing Bubbles

Both Shiller and Leonhardt conclude the same thing: that stocks are expensive.
Which is a bit weird, considering that, relative to everything else, they certainly
seem as though they’re actually
rather cheap
.
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Posted in economics, stocks | Comments Off on Blowing Bubbles

Staying Sanguine About the Bear Stearns Losses

DealBook
today sets up a mini cage match between me and Janet Tavakoli:
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