Finance masters teach us a golden rule of finance, which few people believe and follow.
What do they mean for "passive management"? I think they mean index fund.
Wednesday, February 25, 2009
The Formula That Killed Wall Street
A very good article about Gaussian copula function by David X. Li and its impact on financial meltdown. Li's paper is here.
Is it another reason to blame China for the financial crisis?
Is it another reason to blame China for the financial crisis?
Tuesday, February 24, 2009
Brooks on Obama
David Brooks had a good piece on Obama in NYT.
Update: After watching President Obama's speech to Congress tonight, I think Obama is really willing to do all these ambitious reforms and will have a chance to be successful for many of the plans in the long run. Why? Becuase I think he understands the current core problems of the US and he really can talk!
Update: After watching President Obama's speech to Congress tonight, I think Obama is really willing to do all these ambitious reforms and will have a chance to be successful for many of the plans in the long run. Why? Becuase I think he understands the current core problems of the US and he really can talk!
Tuesday, February 17, 2009
Obama Signed the Stimulus Bill
As I predicted in December and in January, the stimulus plan was passed and signed into law today. In this website, we can see and track the detials of the plan.
Saturday, February 14, 2009
Interview with Simon Johnson
PBS Bill Moyers interviews with Simon Johnson, MIT professor.
I agree with his suggestions, one of which is the anti-trust law on big banks.
I agree with his suggestions, one of which is the anti-trust law on big banks.
Thursday, February 12, 2009
Wednesday, February 11, 2009
Monday, February 9, 2009
Saturday, February 7, 2009
Rogoff on China
Rogoff had an insightful piece about Chinese economy. One interesting sentence caught my eyes in particular:
.... men in China today feel compelled to save in order to find a bride. The same week, a former student of mine who lost his lucrative financial-sector job explained that he had no savings because it was so expensive to date in New York!An example of cultural difference about savings.
Sunday, February 1, 2009
Interview with Paul Samuelson
Paul Samuelson, the first Ameican who won the Nobel prize in Economics (1970), was not happy with President Bush. His view is very similar with Paul Krugman, the latest Nobel prize winner.
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