The NYT Freakonomics blog has a good summary of just what the hell is happening right now in financial markets.
North Korea, or a post-financial apocalypse United States? Some amazing recent photos from North Korea at Boston.com (from @pkedrosky).
Largely a repeat of his books but interesting in context of the last few days/weeks/months. The Fourth Quadrant: A Map of the limits of Statistics.
I learned today from my new favorite blog myballard.com that our zip code is the eight fastest selling in the country, with an average time on the market of 86 days. Looking at the list Ballard has done pretty well in comparison to many higher up on the list, like Plano, Tex. (#4) where prices [...]
Help me understand investment banking if you can… as I see it, the business follows the “business cycle” with just two phases: 1) make up a bubble and earn record bonuses; then 2) d’oh! find out that all that money never really existed in the first place, but get bailed out by the government. Convenient.
Bubblegeneration: The Bernanke Put and the Macropocalypse: “By preventing the market from finding a bottom, the Fed just transferred risk from hedge funds, banks, and other people holding illiquid assets, to you - people holding liquid assets.”
Totally agree… while it decreases pain in the short term the “Bernanke Put” ensures that the wacked out compensation [...]
Suze Orman is totally my hero. Most of the “financial advisers” that you see on tv are complete frauds and provide absolutely useless advice. Suze (pronounced Susie, not Soooze, as B recently taught me) though, is honest and actually gives good advice. And she likes Seattle real estate right now.
Breean checked out Mad Money by Jim Cramer from the library for me the other day. I was pretty skeptical cause he’s such a nutcase but the book is actually pretty good. I recommend it for some pretty simple but reasonable investing advice.
Interesting Malcolm Gladwell piece in the New Yorker about “Enron, intelligence, and the perils of too much information.” In short, the world has changed and many fields have moved from puzzles (not enough information) to mysteries (too much information).
Let’s just quote from the end:
In the spring of 1998, Macey notes, a group of six students [...]
You gotta love the emails Larry Ellison’s (fifth richest person in the country) accountant sends him [from paul k]:
At the bottom of a document that detailed Ellison’s 2000 debt load, Simon had scrawled a rough accounting of Ellison’s lavish spending, according to deposition testimony:
Life Style — annual $20m
Interest Accrual — annual $75m
Villa [...]