Not all Chinese firms are crooked—but until China gets serious about regulating its firms, investors should remain wary http://t.co/oFBEwTJV
27 minutes ago
Finance & Markets Channel: Latest Posts
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GMac
Lincoln Ellis, Barry Knapp on U.S. Stocks Bloomberg Video
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Great Leap Forward
$30 TRILLION TO PROMOTE CRONY CAPITALISM: The Fed’s Bail-Out of Wall Street
I’m directing a research project on the Fed’s bail-out of Wall Street and am periodically posting updates on the findings. Previously I’ve blogged the preliminary findings of two of my grad students, James Felkerson and Nicola Matthews and the first paper was finished a few weeks ago (my summary here http://www.levyinstitute.org/pubs/op_23.pdf; full paper here http://www.levyinstitute.org/pubs/wp_698.pdf) [...]
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Finance & Markets
Next-Generation System-Wide Liquidity Stress Testing
The global financial crisis has shown that neglecting liquidity risk comes at a substantial price. This column presents a new framework to run system-wide, balance sheet data–based liquidity stress tests. The liquidity framework includes a module to simulate the impact of bank-run type scenarios, a module to assess risks arising from maturity transformation and rollover [...]
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RGE Analysts
RGE’s Gina Sanchez CNBC Video – Trading the Globe: Bulls From Brazil
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Finance & Markets
The Ongoing ‘Foxification’ of the Wall Street Journal
Last week, the Wall Street Journal published from a group of anthropogenic climate change deniers — a small group of engineers, retired weathermen, and scientists, none one of whom worked in the the field of climate science. A much larger group of scientists, most of whom actually work in the field climate change, submitted a [...]
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Finance & Markets
Private Equity and ‘Job Creation’
The phrase “job creation” always makes me a little queasy. The personal computer has probably contributed to the elimination of tens of millions of clerical jobs, yet I think most of us feel that computers are a good thing: they make people more productive, meaning more goods and services for everyone . . . and [...]
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Finance & Markets
Oil and Water
Like a science fiction novel, one could imagine a world where the valuation for oil and water was reversed. Such a scenario would change the face of the planet. Oil defined global politics and economics for the last hundred years. Humanity struggled during two World Wars, along with countless other conflicts, to control it. Abundant [...]
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Finance & Markets
What Is Private Equity?
Recently, a lot of the political debate has been about whether private equity—and by extension Mitt Romney—is good or bad. The argument on one side is that private equity firms are vultures who destroy firms to make money; on the other, that private equity is just capitalism at work, creates value, and creates jobs. A [...]
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Finance & Markets
Investors: De-Mystifying the Central Bank Balance Sheets
One of the many reasons that individual investors are scared witless (TM euphemism by OldProf) is a complete misunderstanding of the role of central banks and a distortion of current policies. The critics of the Fed — and now the ECB and other European banks — have an easy path to page views and affirmation [...]
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Finance & Markets
2011 Investment Mea Culpas
January is nearly over, so it is once again time to look at the various errors, mistakes and bad calls that I made in the asset management business in 2011. I have made ‘fessing up part of my process – this is my third annual version (see my previous mea culpas for 2009 and 2010). [...]
