As the elections come closer, people one again start talking more about political prediction markets. In fact, they're well known enough that the the Wall Street Journal will now be featuring regular commentary on what the prediciton markets say about the various political candidates.
The pieces will be written by Wharton's Justin Wolfers. He's one of the sharpest young economists on the scene, and extremely well versed on the topic.
Click here to read his first piece.
1,000 Posts
I didn't realize it, but Financial Rounds just crossed the 1,000 post mark. That's a lot of time spent blogging.
The Sub Prime Crisis (From The Long Johns)
Here's a pretty good comedy piece on the Sub Prime Crisis
The Best line of the piece: "High Grade Structured Credit Enhanced Leveraged Fund!"
Where do I sign?
The Best line of the piece: "High Grade Structured Credit Enhanced Leveraged Fund!"
Where do I sign?
Larry The Liquidator
I've started putting together my syllabus for the spring semester. I'll be teaching the advanced corporate finance class. I haven't taught this particular class for a couple of years, so I thought I'd change things around a bit this time. It's about 50/50 between lectures and cases, and this time around I think I'll play this clip from Other People's Money. It's the speech by Larry The Liquidator at the shareholders' meeting, and it's a pretty good representation of the PE/buyout/corporate selloff world's approach to things. It's also one of the best finance clips you'll find in any movie anywhere. .
Enjoy.
Enjoy.
"Shocking" Economics Facts
I thought this short Youtube clip had some very interesting facts. They illustrate just how amazingly large our economy is relative to that of most countries. Let's just say that I'm glad to be living here.
Back to CFA studies.
Back to CFA studies.
Boys Day and Night
The Unknown Daughter is going for a sleepover tonight at her cousin's house (about 80 milkes away in an adjoining state). So, Unknown Wife is using the opportunity to take an overnight herself at her sister's house (she lives near where the sleepover is, and this'll save an additional trip).
That means Unknown Son and I temporarily have the house to ourselves. He gets to watch Pink Panther Cartoons most of the day (he got the 6 Disk complete set for Christmas) while I spend my time going over material for CFA level 2. I teach in a prep program starting in about four weeks, and I'm taking the exam myself this June (assuming I passed level 1), so it's a good opportunity to get a bit ahead.
He's been having intermittent fevers (on one day, off the next) for the last couple of weeks. We know he had pneumonia, and is almost done with his antibiotics. But maybe he caught another virus. Either way, he's content to sit around and watch classic cartoons.
I'll probably watch some too.
Plus, this means I get to watch the buildup tonight to tomorrow night's big UFC fight between Hughes and St. Pierre.
That means Unknown Son and I temporarily have the house to ourselves. He gets to watch Pink Panther Cartoons most of the day (he got the 6 Disk complete set for Christmas) while I spend my time going over material for CFA level 2. I teach in a prep program starting in about four weeks, and I'm taking the exam myself this June (assuming I passed level 1), so it's a good opportunity to get a bit ahead.
He's been having intermittent fevers (on one day, off the next) for the last couple of weeks. We know he had pneumonia, and is almost done with his antibiotics. But maybe he caught another virus. Either way, he's content to sit around and watch classic cartoons.
I'll probably watch some too.
Plus, this means I get to watch the buildup tonight to tomorrow night's big UFC fight between Hughes and St. Pierre.
The Law Is An Asset Class
Here's a new asset class - investing in litigation. It's not yet legal in the US, but in other countires, it's possible to fund a lawsuit in exchange for a stake in the proceeds. This seems like a logical progression - there's already divorce settlement financing. This just extends the range of claims on litigation to equity stakes.
My guess is that the investment (if it ever catches on) would have pretty low covariance with most other asset classes, so it could be a good hedging mechanism.
What's next - derivatives on lawsuits?
HT: Marginal Revolution
My guess is that the investment (if it ever catches on) would have pretty low covariance with most other asset classes, so it could be a good hedging mechanism.
What's next - derivatives on lawsuits?
HT: Marginal Revolution
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