-
Recent Posts
Some Blogs I Read
Archives
Categories
Meta
Author Archives: shubik
About that Apple Dividend/Buyback
So Apple has finally decided to pay a dividend and buy back some shares. It’s about time. As a long-time Apple shareholder, I’ve been waiting quite some time for them to do something with their $100+ billion of cash lying … Continue reading
Posted in Uncategorized
Leave a comment
The Economist’s Ridiculous Complaints About Dodd-Frank
There are plenty of legitimate arguments to be made against the Dodd-Frank Act. Unfortunately, in its anti-Dodd-Frank piece published last week, The Economist doesn’t make any of them. The article begins: SECTIONS 404 and 406 of the Dodd-Frank law of … Continue reading
Posted in Uncategorized
Leave a comment
Warren Buffett and the Laggards of Berkshire Hathaway
Warren Buffett’s annual letter to shareholders came out a few days ago, and it’s a delight to read. A lot of people have been picking out their favorite bits–see, for example, FT Alphaville on the value of gold vs. productive … Continue reading
Posted in Uncategorized
Tagged berkshire hathaway, implicit contracts, private equity, warren buffett
Leave a comment
In Defense of Trills (and Bob Shiller)
I love reading Felix Salmon’s blog, but today he goes off the rails a bit when discussing the prospect of GDP-linked bonds, as recently proposed by Bob Shiller. The basic idea is that countries would issue a security where the … Continue reading
Posted in Uncategorized
Tagged bob shiller, cost of equity, felix salmon, gdp-linked bond, risk free, trill
Leave a comment
What ISDA Got Right (and Wrong) About Greek CDS
In all the discussion about the Greek debt negotiations, one point that keeps coming up is the importance that the debt restructuring be voluntary so that the default clauses in credit default swaps (CDS) on Greek debt aren’t triggered. I’ve … Continue reading
Posted in Uncategorized
Tagged credit default swaps, debt negotiations, debt restructuring, joseph stiglitz, nobel laureate
7 Comments
PIMCO, Beating the Market, and Long-Term Capital Management
Noah Smith read Reuters’ article on the decline of PIMCO and wrote a great post about the challenges that successful funds face as they grow. In short, the additional capital that flows into a fund that has been beating the … Continue reading
What’s Missing From Bloomberg’s Dodd-Frank Graph
Bloomberg Businessweek published a fun graphic today trying to illustrate what’s in Dodd-Frank. Overall, it’s not bad. Because Congress decided to build off of the existing regulatory structure instead of tearing it down and building a new one, Dodd-Frank is … Continue reading
Posted in Uncategorized
Leave a comment
Why Tie to Gold? Why Not 1982 Bordeaux?
The University of Chicago IGM Economic Experts Panel, a group of economists spanning the ideological spectrum, was asked this week whether they agreed with a statement regarding the gold standard: If the US replaced its discretionary monetary policy regime with a gold … Continue reading
Posted in Uncategorized
Leave a comment
Why America Losing Out on iPhone Work Isn’t That Big a Deal
Today’s must-read article in the New York Times is Charles Duhigg and Keith Bradsher’s piece on why the iPhone isn’t manufactured in America. The article starts off lamenting the relatively few jobs that Apple has created in America compared … Continue reading
Posted in Uncategorized
Leave a comment
Does Dylan Ratigan Want to End the Fed?
Noam Scheiber wrote about what sounded like a pretty crazy idea in Dylan Ratigan’s new book on Tuesday: derivatives should be classified as online gaming and naked derivatives should be “deemed null and void.” I wasn’t even really sure what … Continue reading
Posted in Uncategorized
Leave a comment
