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FOMC Statement - Fed to Keep Rates Low for Extended Period, To End Mortgage Security Purchases
In today's FOMC statement, the Fed did not change language saying it would keep rates low for an extended period. It also confirmed that it has reached the end of its $1.25 billion purchase of mortgage backed securities.
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Head-on Collision Lukoil Moscow Mercedes Accident: An Ominous Warning for Anyone Considering Investing with these Thugs
I've invested money in Russia. The recent actions surrounding this accident reminds me why I'll never do that again.
Read →The iPad is shaping up to be a colossal failure.
Read →Verizon Communications is taking an unusual step: it's listing it's shares on the NASDAQ in addition to the current listing on the NYSE. Companies with too much cash are often prone to such folly.
Read →The post-mortem of the bankruptcy of Lehman Brothers has revealed some shocking information related to accounting gimmickry that saw executives at other firms (such as Enron and WorldCom) engaging in similar practices sent to jail.
Read →Christopher Dodd just held a news conference to explain his new blueprint for sweeping financial reform.
Read →Savings rates dipped very slightly this past week with the average dropping from 1.41% APY to 1.40% APY. Despite this drop, the top savings rate remained at 2% (ReadySaver.com from Southern Community Bank). Everbank also continued to offer their promo rate of 2.25% APY for the first three months on new money. After three months, the rate drops to 1.26% APY for a 1-year blended APY of 1.51%.
Read →Although trading opportunities remain in the municipal market, this is not a traders' market. Rather, income-oriented buyers (so called, going-away demand) has driven yields and credit spreads lower and lower as the scarcity of acceptable product continues to meet a growing need for safe, tax-exempt income.
Read →Congressman Darrell Issa becomes the first person in government to cast doubt on Sikes.
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Foreclosure Victims Becoming More Common
The foreclosure crisis is bad enough, but it seems even worse when you think about individuals who are being wrongly victimized.
Read →California faces a financial crisis of epic proportions. The State now seems likely to elect a governor who make the worst acquisition in financial history, making the Arnold Schwarzenegger election look rational.
Read →From 1983 to 2008 Klarman's hedge fund, the Baupost Group, returned 16.5% a year, outperforming the S&P 500 by more than 6% a year. In the 10 years ending December 31, 2008, he beat the market by an impressive 14.5% a year. Here are his lessons for investors from the crisis of 2008.
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