I have a big story in the new TIME (with Steven Johnson’s Tweet Heard Round the World on the cover) about what ever happened to stocks for the long run. A sample: The notion goes back to 1922, when a bond brokerage in New York City hired Edgar Lawrence Smith to put together a pamphlet [...]
Reading the SEC fraud-and-insider-trading complaint (PDF) against Angelo Mozilo, I was struck by how very much the former Countrywide chairman and CEO understood about the slipping lending standards that eventually led his mortgage firm to collapse in on itself. Inside his company, he was actually quite vocal about making changes to fix the situation. He [...]
The employment numbers released today were pretty encouraging. Payroll employment dropped by significantly less in May than most people expected, and while the unemployment rate is now at a scary 9.4% (and is headed higher), that’s a lagging indicator of the state of the economy. The index of weekly leading indicators compiled by the Economic [...]
