Alex Berenson Quotes
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For chat-room tyros who expect to make their first million day-trading by age 27, paging through the Sunday newspaper with a pair of scissors just to save a couple of cents on Cheetos seems so, well, old economy.
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In a Ponzi scheme, a promoter pays back his initial investors with money he has raised from new investors. Eventually, the promoter can no longer find enough new investors to pay off the people who have already put up money, and the scheme collapses.
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America Online, of course, is a master of the hard sell, from stuffing mailboxes with free trial offers to forcing subscribers to click through ads before they can get their e-mail.
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Even so, sometimes I wish I did have a little bit more flair in my language.
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Although not well known outside Wall Street, Freddie Mac and its corporate cousin, Fannie Mae, are two of the world's largest financial institutions and play a crucial role in the housing market.
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Big companies, which spend tens of billions of dollars annually on 'call centers' to take orders and provide customer support, increasingly rely on speech recognition not just to handle requests for information but to process customer orders.
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Iraq is short on capital, short on electricity, and short on management expertise, but it does not lack economic enthusiasm.
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The lower spreads mean lower costs for investors, because Nasdaq investors generally do not trade directly with one another. Instead, they usually buy and sell from market-makers, brokerage firms that flip shares between buyers and sellers and keep the spread for themselves.
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Plumbing is usually boring.
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While Wall Street firms typically underwrite offerings in teams, the lead underwriter, or manager, of the offering has primary responsibility for selling the offering and reaps much of the fees and profit.
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For as long as anyone can remember, reliable, cheap electricity has been taken for granted in the United States.
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Over the years, I've spent time in Saudi Arabia, the Bekaa Valley, Afghanistan, Jordan, and Kenya, among other vacation hotspots.
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Some companies use off-balance-sheet partnerships to raise money or to buy assets without ever telling their shareholders in their financial statements.
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Normally, banks record profits on loans only as they are repaid, whether they securitize the loans or hold them on their books.
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It is a truth universally acknowledged on Wall Street that original research is on life support. Serious research can be bad for business, as well as expensive.
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Most companies can survive even if their debt ratings are lowered below investment grade, although they will have higher borrowing costs.
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Some big banks remain wary of venture capital.
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Before Jason Bourne, before Jack Ryan, there was Bond, James Bond, the original two-dimensional, world-saving secret agent.
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It has been said that the Fed's job is to take the punch bowl away just as the party gets going, raising interest rates when the economy is growing too fast and inflation threatens.
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I think when you have lawyers arguing over whether you can keep a detainee at 46 degrees... for two hours, that's not torture. It may be unpleasant, it may be coercive... but let's say what torture actually is, and that's not it.
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Never underestimate the power of Abby Joseph Cohen.
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The world is filled with great sporting events.
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Volatility may be rising simply because investors must digest more information every day.
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Most of America never noticed, but the 1990s were good times for trailer homes, a.k.a. manufactured housing. From 1991 to 1998, annual sales of manufactured homes more than doubled, to 374,000 from 174,000.