[B! 金融] smaedaのブックマーク

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金融に関するsmaedaのブックマーク (65)

Do not let the ‘cure’ destroy capitalism
smaeda 2009/03/23
(Gary Becker et al.) "Most interventions, including random policies, by their very nature would hurt rather than help, in large part by adding to the uncertainty and risk that are already so prominent during this contraction."

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A history of expensive offices at Citigroup (Dealscape)
smaeda 2009/03/23
"Former Citigroup chief Sanford I. Weill had an obsession with fireplaces and had one installed in his office when he took over at 399 Park Ave... In fact, Weill has installed fireplaces at every office he's had as a CEO, according to a BusinessWeek story from 1995..."

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Alan Greenspan Says the Federal Reserve Didn't Cause the Housing Bubble
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/SB123672965066989281
smaeda 2009/03/17
(Alan Greenspan) "How much does it matter whether the bubble was caused by inappropriate monetary policy, over which policy makers have control, or broader global forces over which their control is limited? A great deal." う～ん、責任放棄？

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Wilmott - Serving The Quantitative Finance Community
smaeda 2009/03/16
(Satyajit Das) "CDS contracts can amplify losses in credit market... The CDS market is also complicating restructuring of distressed loans as all lenders do not have the same interest in ensuring the survival of the firm..."

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Read the big four to know capital’s fate
smaeda 2009/03/16
(Paul Kennedy) "...Homus Economicus will take a horrible beating. But capitalism, in modified form, will not disappear. Like democracy, it has serious flaws -- but, just as one find faults with democracy, the critics of capitalism will discover that all other systems are worse."

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Bloomberg - Are you a robot?
smaeda 2009/03/16
(Kevin Hassett) "...According to the Web site for the Congressional Effect Fund, between 1965 and 2008 the S&P500 Index increased at an annual rate of about 16 percent during periods when Congress was out of session, and increased only 0.31 percent when Congress was in session."

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Adam Smith’s market never stood alone
smaeda 2009/03/13
(Amartya Sen) "It is often overlooked that Smith did not take the pure market mechanism to be a free-standing performer of excellence, nor did he take the profit motive to be all that is needed... he was deeply concerned about the incidence of poverty, illiteracy and relative deprivation..."

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Steve Forbes Says Barack Obama's Economic Policy Repeats George W. Bush's Mistakes
smaeda 2009/03/13
(Steve Forbes) "Mark-to-market accounting is the principal reason why our financial system is in a meltdown." // "Regulatory capital by its definition should take the long view when it comes to valuation; day-to-day fluctuations shouldn't matter."

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The Times & The Sunday Times
smaeda 2009/03/12
(Philip Broughton) "The MBA, that swollen class of jargon-spewing, value-destroying financiers and consultants have done more than any other group of people to create the economic misery we find ourselves in... For today's purpose, perhaps it should be Masters of the Business Apocalypse."

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Wilmott - Serving The Quantitative Finance Community
smaeda 2009/03/12
(Emanuel Derman) "Given the present chaos, shouldn't we be asking if business education is not just a waste of time, but actually damaging to our economic health?"

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Why the G20 must focus on sustaining demand
smaeda 2009/03/11
(Martin Wolf) "The danger is not of doing nothing, but rather of doing too little. If such timidity fails, opponents will argue: these policies have failed. This will exacerbate confusion, making attempts at decisive action later on more difficult and ineffective."

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「予想PER」に頼る愚かさ：日経ビジネスオンライン
気になる記事をスクラップできます。保存した記事は、マイページでスマホ、タブレットからでもご確認頂けます。※会員限定無料会員登録詳細｜ログイン米国発の金融危機を背景に世界的な株安連鎖が進行し、世界各国で「優良銘柄も激安」や「絶好の買いチャンス」といった表現もマスコミ紙面をにぎわすようになった。その際に頻繁に利用される指標がPER（株価収益率）だ。もともとは欧米で利用が広がったPERは、株価が1株利益の何倍かを示す指標だ。その意味を踏まえれば「株価利益倍率」と訳されるべきだが、日本ではなぜか「株価収益率」という表現が定着してしまった。もう1つ日本流に修正された部分がある。「PER」と言うと、ほぼ自動的に「予想PER」を意味するようになった点だ。つまり、PERの分母である1株利益が過去の実績値ではなく、予想値になっているのだ。長期のトレンドをたどれば、国全体の経済成長に歩調を合わ
smaeda 2009/03/11
（牧野洋）"PERは、株価が1株利益の何倍かを示す指標だ。その意味を踏まえれば「株価利益倍率」と訳されるべきだが、日本ではなぜか「株価収益率」という表現が定着してしまった。"

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A survival plan for global capitalism
smaeda 2009/03/09
(FT Editorial) "There is one certainty. While recessions are inevitable, deep depressions or slumps -- or what ever you call them -- are neither necessary nor welcome... Growth must be restarted... The aim is now simple: end this brutal recession."

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To nationalise or not – that is the question
smaeda 2009/03/04
(Martin Wolf) "To nationalise or not... much of the debate is semantic. But underneath it are at least two big issues. Who bears losses? How does one best restructure banks?" // "banks must be fixed, in an orderly and systematic way... bank restructuring itself must begin."

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FT.com / Comment & analysis / Letters - Japan’s price-keeping operations can succeed
smaeda 2009/03/03
(Roger Farmer) "not proposing to spend money... proposing to exchange one kind of asset, government liabilities, for another, equity." // " "Unlike the proposed fiscal stimulus packages currently on the table, ... need not cost the taxpayer a penny and... have a much better chance of success."

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How Washington can prevent ‘zombie banks’
Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day's biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT's flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal new
smaeda 2009/03/03
(James Baker) "Unfortunately, the US may be repeating Japan's mistake by viewing our current banking crisis as one of liquidty and not solvency... we risk perpetuating US zombie banks and suffering a lost American decade."

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Recipe for Disaster: The Formula That Killed Wall Street
In the mid-’80s, Wall Street turned to the quants—brainy financial engineers—to invent new ways to boost profits. Their methods for minting money worked brilliantly… until one of them devastated the global economy. In the mid-'80s, Wall Street turned to the quants—brainy financial engineers—to invent new ways to boost profits. Their methods for minting money worked brilliantly... until one of them
smaeda 2009/03/02
(Felix Salmon) "In the world of finance, too many quants see only the numbers before them and forget about the concrete reality the figures are supposed to represent... Then people invest on the basis of those probabilities, without stopping to wonder whether the numbers make any sense at all."

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https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aExA0HhTShA8
smaeda 2009/03/02
(William Pesek) "Collecting and analyzing tick-by-tick market data can expose misalignment -- disconnects between prices and risk premiums that have broader implications. Price movements aren't just noise. Buy and sell orders can say lots about who is building and closing positions and why."

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Bloomberg.com: News: Caroline Baum: "Some Banks Must Die So the U.S. Economy Can Live"
smaeda 2009/03/02
(Caroline Baum) "Doing so many things at once means a reduced focus on the root of the problem. There's a reason the tortoise beats the hare in Aesop's fable..."

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Dating A Banker Anonymous
Are you or someone you love dating a banker? If so, we are here to support you through these difficult times. Dating A Banker Anonymous (DABA) is a safe place where women can come together – free from the scrutiny of feminists– and share their tearful tales of how the mortgage meltdown has affected their relationships. DABA Girls was started by two best friends whose relationships tanked with the
smaeda 2009/02/27
Dating A Banker Anonymous - a blog where the female partners of Wall Street warriors ostensibly vent about how the economic meltdown has morphed their men into "emotional train wrecks," deflating their sex lives along with the Dow.

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