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

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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

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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

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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

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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

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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

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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

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