September Madness
Way more exciting than March Madness! Pick who is going to end up with (or lose) all your hard earned $$. I love this stuff…
Continue reading...Poor Petters
Monday, September 29, 2008
Chief Exec, Tom Petters of Petters Group Worldwide, resigned today after the Feds launched an investigation into a fraud that allegedly milked investors of over $100 million over the past decade or so. Tom looks like a pretty good looking guy…no doubt that he’ll be making lots of friends when he gets to prison. And BTW, “integrity” [...]
Continue reading...Bailout: Declined
Monday, September 29, 2008
No way, Jose. That’s what two-thirds of Republicans and 95 Democrats said by voting “nay” on today’s bailout proposal. The market overreacted by dropping almost 800 points - it seemed obvious to me that Congress would resume working on the bill even if it did fail. The fact that Congress was nearly split [...]
Continue reading...McCain vs. Obama Round 1
Friday, September 26, 2008
I watched the debates tonight and the night was McCain’s…he won the foreign policy argument and pretty much tied Obama on everything else. It was clear that neither candidate seemed to know what the hell to do with the economy though, which was very disappointing. Also, what’s with both of them acting like they’re at [...]
Continue reading...WAMU BOUGHT BY JP MORGAN
Thursday, September 25, 2008
Holy $hit. WAMU was seized by the FDIC and assets were sold to JP Morgan Chase in the biggest bank failure in U.S. History.
Continue reading...Annual Policy Reviews
Thursday, September 25, 2008
CFOs direct policy creation for a number of reasons but generally policies are written to guide behavior and to provide for consequences if that behavior is deemed illegal or harms the company’s assets in any way. A heap of thought, consensus and effort go into a writing a policy. However, I think it is good [...]
Continue reading...Lock and Load
Tuesday, September 23, 2008
This is a lil’ section I like to call “target practice”. It doesn’t matter if you’re a big fish or small potatoes, you will find no safe harbor here. Check out this stud muffin, Frank Amodeo, ex Chief of Mirabilis Ventures in Orlando, Florida. He just plead guilty to a $181 million tax fraud [...]
Continue reading...The Abyss
Monday, September 22, 2008
Before 1971, U.S. currency was backed to some extent by the price of gold…known as the Gold Standard. The U.S. government (I guess the Fed Reserve) began the task of separating gold from U.S. currency after 1933 but the final decoupling didn’t take place until 1971. So now enters the concept of fiat money [...]
Continue reading...You speak IFRS?
Friday, September 19, 2008
If your head is still spinning from SOX, get ready for an even bigger headache from IFRS. I think I see the point in harmonizing accounting languages but I mean if you really want to do the whole investing community a huge favor, start by making sure that all foreign public markets (where Americans do a [...]
Continue reading...“Desperate” Housewives
Friday, September 19, 2008
Even if you’re not a CFO at work, you better be one at home. That’s right…CFO of your household. This means looking for the best banking rates, managing your own investment portfolio risk and policing your household budget. My wife told me an interesting story the other day. Her “friend” who is married [...]
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Tuesday, September 30, 2008
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