Word: walles
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...another deeply flawed part of the system: "Too many financial institutions and investors simply outsourced their risk management," he said. "Rather than undertake their own analysis, they relied on the rating agencies." In other words, the problem is not just the ratings agencies, but the way investors - from Wall Street firms to university endowments - have become mindlessly dependent on them. That is harder...
...sold yet? Yeah, neither were we. Incredibly, though, this guy claims that companies from IBM to Walt Disney have paid him to drum up enthusiasm for their products. The Wall Street Journal even ran a piece (in 1998, ahem) about the pitchman's skills at addressing crowds with "just a whiff of cheerful megalomania." Sure, Bauer's probably living in a cardboard box made of $4 business cards (foil-stamped!) right now, but you have to admire the man's spirit. Or maybe just giggle at it. Because life is not about being liked. It's about being effective...
Based on 24/7 Wall St.'s evaluation of news reports, the Somali pirates are seizing near one ship per day now. This week, on a single day, they took over four vessels. Even though several large national navies including the US are policing the shipping channels to cut down piracy, the rate at which the pirates can grab prey is picked up fairly fast. The Somali pirates could take over between 80 and 120 vessels this year, and the figure is conservative. That would put their gross revenue as high as $200 million...
Intel is the first large tech company to report each quarter. If Intel's comments are positioned to support its belief in a recovery, there is a temptation for Wall St. to buy up its shares...
...there is anything good about the stock market catastrophe it is the skepticism that has become a part of the investor's way of thinking. Intel traded down because Wall St. read its comments as a "false positive." Investors look at its vague statements as being the equivalent of misleading. Intel clearly did not have any sinister intentions. It just hinted at something that isn't true because the broader economy does not lend it any credence...