Most Recent Stingy News
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| The end of the financial world |
| 01/04/09 11:31 AM EST link save & share | Government |
| "This is one reason the collapse of our financial system has inspired not merely a national but a global crisis of confidence. Good God, the world seems to be saying, if they don.t know what they are doing with money, who does?" |
| More Government: GMAC, the Fed, and moral hazard |
| Capitalism is worst system except for the rest |
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| Risk mismanagement |
| 01/03/09 12:24 PM EST link save & share | Taleb |
| "The story that I have to tell is marked all the way through by a persistent tension between those who assert that the best decisions are based on quantification and numbers, determined by the patterns of the past, and those who base their decisions on more subjective degrees of belief about the uncertain future. This is a controversy that has never been resolved." |
| More Taleb: A conversation with Nassim Taleb |
| Rippling economic turbulence |
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| Why we keep falling for financial scams |
| 01/03/09 11:40 AM EST link save & share | Crime |
| "Intelligent people have long been ruined by frauds. Psychologist Stephen Greenspan, who specializes in gullibility, explores why investors continue to be swindled -- and how he came to lose part of his savings to Bernard Madoff." |
| More Crime: The Perfect Ponzi |
| How can you spot a wall street crook? |
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| Robot portfolio stumbles |
| 01/03/09 10:11 AM EST link save & share | Dorfman |
| ""Well, even though historical profit figures will be a meaningless guide to performance during a recession, I had the robot select another 10 stocks to watch in 2009. Still in the list are Fairfax, methanol maker Methanex and contract energy driller Precision Drilling. Added are copper miner First Quantum Minerals Ltd., integrated energy company Petro-Canada, fertilizer make Agrium Inc., mutual fund manager AGF Management Ltd., steel distributor Russel Metals Inc., auto-parts maker Magna International Inc. and printer Transcontinental Inc. |
| More Dorfman: Sears might be a good thing |
| Buying the bargains in health care, energy |
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| Sears might be a good thing |
| 01/03/09 12:01 AM EST link save & share | Dorfman |
| "I did a study of stocks analysts love and loath, covering 1998 through 2007. It turns out that the four stocks analysts favored most as each year began did worse over the ensuing 12 months, on average, than the four stocks they most hated. Furthermore, both groups underperformed the Standard & Poor's 500 Index. Over the 10 years, the average despised stock rose 1.7 percent, compared with a loss of 2.2 percent for the adored ones. By contrast, the S&P 500 rose 7.2 percent a year on average." |
| More Dorfman: Buying the bargains in health care, energy |
| 10 questions for John Dorfman |
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| The go-go investor |
| 01/02/09 11:40 PM EST link save & share | Funds |
| "his was a boom-and-bust story. He got rich in the process but also became the symbol of an era, in much the same way that Michael Milken became the symbol of the junk-bond-fueled excesses of the 1980s and Henry Blodget the symbol of the Internet bubble. Afterward, the portrait that was painted of him was not flattering. And it bugged him." |
| More Funds: Time to ditch the style box |
| Beware ETNs |
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| Buffett has 'nowhere to hide' |
| 01/02/09 12:05 PM EST link save & share | Buffett |
| "The stock plunge 'doesn't make any difference,' Buffett told Fox Business Network Nov. 21. 'It's happened to me three other times,' Buffett said. 'It happened when it went from 90 to 40 back in 1974, and it happened in 1987. It went down 50 percent in 1998-to-2000. I mean, I hope I live long enough so it happens a couple more times.'" |
| More Buffett: Buffett wins $224 million storm bet |
| Buffett will give more info on derivatives |
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| Labor pains are not easily shared |
| 01/02/09 11:59 AM EST link save & share | Management |
| "One way to accomplish such a "share economy," Weitzman argued, would be to change the structure of compensation so that a higher percentage of it was in the form of a bonus based on company revenues and profits, with a lower base pay. That would allow firms to reduce payroll costs during a recession without having to resort to big layoffs. It would also help ensure that workers shared in the boom times as well." |
| More Management: Will work for praise |
| How sticky are wages? |
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| Dividends and the three dwarfs |
| 12/31/08 2:03 PM EST link save & share | Dividends |
| "The importance of dividends for providing wealth to investors is self-evident. Dividends not only dwarf inflation, growth, and changing valuation levels individually, but they also dwarf the combined importance of inflation, growth, and changing valuation levels. This result is wildly at odds with conventional wisdom, which suggests that, while the return from bonds is wholly dependent on income, stocks provide growth first and income second. It is startling to realize that dividend growth has averaged less than 1 percent above inflation during the past 200-year period. And it is shocking that real per-share dividend and earnings growth on the S&P 500 Index since 1965 has been zero." |
| More Dividends: Dividend ETFs: One way to ride out the storm |
| Investors lick wounds from dividend cuts |
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| GMAC, the Fed, and moral hazard |
| 12/30/08 8:27 PM EST link save & share | Government |
| "These are important questions, because this is not the last time that bondholders are going to be asked to give up money they're owed in order to save a company. In fact, a much bigger bond exchange is looming: one from GM itself. And nowhere are moral hazard considerations more important than when it comes to the tactics of distressed-debt exchanges. If a bailout is coming anyway, then a smart bondholder will always stay out of any exchange. And if most bondholders are smart, then no distressed company can effect a significant debt reduction without declaring bankruptcy." |
| More Government: Capitalism is worst system except for the rest |
| Bailout of Long-Term Capital |
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| Capitalism is worst system except for the rest |
| 12/30/08 7:43 PM EST link save & share | Government |
| "Fixing the price of any other commodity, including labor, has proven to be a failure, an affront to the inviolable invisible hand. Yet when it comes to setting the interest rate that will keep the economy on an even keel, we put our faith in a chosen few to get it right. All sorts of unintended consequences flow forth from central bankers' fixing of a short-term rate." |
| More Government: Bailout of Long-Term Capital |
| A mortgage bailout plan's paltry results |
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| Will work for praise |
| 12/30/08 5:21 PM EST link save & share | Management |
| "Beyond brand-hungry strivers, masses of free laborers continue to toil without ever seeing a payday, or even angling for one. Many find compensation in currencies that predate the market economy. These include winning praise from peers, earning an exalted place within a community, scoring thrills from winning, and finding satisfaction in helping others." |
| More Management: How sticky are wages? |
| The other half of "artists ship" |
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| Home prices post record 18% drop |
| 12/30/08 11:29 AM EST link save & share | Real Estate |
| "Home prices posted another record decline in October, falling 18% compared with a year earlier, according to a closely watched report released Tuesday. The 20-city S&P Case-Shiller index has posted losses for a staggering 27 months in a row. In October, 14 of the 20 cities set fresh price decline records." |
| More Real Estate: Former WaMu employees tell of the push to lend |
| U.S. home prices drop by record 13.2% |
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| Buffett wins $224 million storm bet |
| 12/30/08 11:27 AM EST link save & share | Buffett |
| "Billionaire Warren Buffett.s Berkshire Hathaway Inc. won a $224 million bet that Florida would escape major damage from hurricanes this year." |
| More Buffett: Buffett will give more info on derivatives |
| You pay a high price for a cheery consensus |
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| 21 dumbest moments in business 2008 |
| 12/29/08 12:35 PM EST link save & share | Fun |
| "We don't know whether to laugh or cry. Our annual list of the year's most laughable moves proves that, even in moments of crisis, stupidity lives on." |
| More Fun: The south sea bubble of 1720 |
| Gable's favourites from 2008 |
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| Former WaMu employees tell of the push to lend |
| 12/29/08 10:46 AM EST link save & share | Real Estate |
| "As a supervisor at a Washington Mutual mortgage processing center, John D. Parsons was accustomed to seeing baby sitters claiming salaries worthy of college presidents, and schoolteachers with incomes rivaling stockbrokers'. He rarely questioned them. A real estate frenzy was under way and WaMu, as his bank was known, was all about saying yes. Yet even by WaMu's relaxed standards, one mortgage four years ago raised eyebrows. The borrower was claiming a six-figure income and an unusual profession: mariachi singer." |
| More Real Estate: U.S. home prices drop by record 13.2% |
| How high-risk mortgages crept north |
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| Bailout of Long-Term Capital |
| 12/29/08 10:12 AM EST link save & share | Government |
| "The financial crisis is a result of many bad decisions, but one of them hasn.t received enough attention: the 1998 bailout of the Long-Term Capital Management hedge fund. If regulators had been less concerned with protecting the fund.s creditors, our current problems might not be quite so bad." |
| More Government: A mortgage bailout plan's paltry results |
| Obama's program flunks basic math |
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