June 13, 2012 - Quote of the Day
?To get rich is glorious!? said Deng Xiaoping, the Chinese general who launched the country?s modern economy in the seventies.
Entries by DougD
How to Avoid Ponzi Schemes
I spent a sad and depressing, but highly instructional evening with Dr. Stephen Greenspan, who lost most of his personal fortune with Bernie Madoff. The University of Connecticut psychology professor poured the bulk of his savings into Sandra Mansky?s Tremont feeder fund; receiving convincing trade confirms and rock solid custody statements from the Bank of
Shenanigans in Switzerland
Since I am an avid collector of investment scam stories, I?ve got to update you on what?s been coming out of Switzerland. Two Japanese nationals were caught smuggling $134 billion in US Treasury bonds from Switzerland to Italy in a false bottom suitcase. No, that is not a typo, that is ?b? for billion. The
An Evening With Bill Gates, Sr
I had a chat with Bill Gates, Sr. last night, co-chairman of the Bill and Melinda Gates Foundation, the world?s largest private philanthropic organization. There, a staff of 800 help him manage $30 billion. The foundation will give away $3.1 billion this year, a 10% increase over last year. Some $1.5 billion will go to
June 12, 2012 - Quote of the Day
?At some point in 2012, knuckles are going to be turning white, and we?ll see whatever rabbits Ben Bernanke is going to have to pull out of his hat?, said David Rosenberg of Gluskin, Sheff in Associates
The One Bright Spot in Real Estate
After my regular dump on residential real estate, I feel obliged to reveal one corner of this beleaguered market that might actually make sense. By 2050 the population of California will soar from 37 million to 50 million, and that of the US from 300 million to 400 million, according to data released by the
The Ultra Bull Argument for Gold
I am constantly barraged with emails from gold bugs who passionately argue that their beloved metal is trading at a tiny fraction of its true value, and that the barbaric relic is really worth $5,000, $10,000, or even $50,000 an ounce (GLD). They claim the move in the yellow metal we saw in recent years
An Evening With Hillary Clinton
When Secretary of State Hillary Rodham Clinton passed through San Francisco last week I jumped at the chance to get an up to date overview on American foreign policy. The former first lady was making a brief San Francisco stop on her way to meet leaders on an extended Asian tour. She showed up wearing
June 11, 2012 - Quote of the Day
?If there were no way to short stocks, the probability of stock market bubbles would be much greater,? said hedge fund manager, Bill Ackman, of Pershing Square.
The Next China Boom
The call was scratchy and barely audible. I was instructed to not mention any names. I should only use the prearranged code words when talking about political parties. You never know when the phones in China are tapped. I was just about to get a heads up that the People?s Bank of China was going