"He's one on the great ones in this business"...I only wish Jim was talking about baseball. Check out this gem from The Daily Show archives.
Thursday, April 5, 2012
It has been nearly three years since my last post. Let's take a brief look at how the world has changed by the numbers:
May 4, 2009: Dow Close @8,574.65
April 4, 2012: Dow Close @13,074.75
FY 2009: Troops in Iraq (Estimated by FAS) @135,600
FY 2012: Troops in Iraq (Estimated by FAS): @4,100
FY 2009: Troops in Afghanistan (Estimated by FAS) @50,700
FY 2012: Troops in Afghanistan (Estimated by FAS): @63,500
May 4, 2009: Risk-free rate of return (Three-month T-Bill) @0.19
April 4, 2012: Risk-free rate of return (Three-month T-Bill) @0.08
May 4, 1999: Risk-free rate of return (Three-month T-Bill) @4.69
Tuesday, May 5, 2009
Thursday, April 30, 2009
Wednesday, April 22, 2009
The new financial order must incentivize directors, officers, and regulators to incorporate enduring consequences into day-to-day decision making.
Below is another valuable excerpt from John Kenneth Galbraith's "The Great Crash: 1929":
"The instinct for self-preservation in Wall Street is [not] poorly developed. On the contrary, it is probably normal and may be above. But now, as throughout history, financial capacity and political perspicacity are inversely correlated. Long-run salvation by men of business has never been highly regarded if it means disturbance of orderly life and convenience in the present. So inaction will be advocated in the present even though it means deep trouble in the future. Here...lies the threat to capitalism. It is what causes men who know that things are going quite wrong to say that things are fundamentally sound."