 The Wild Wild World of Wealth |  |
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Do you ever feel the financial news makes no sense? Do stories leave you with more questions than answers? I created Acrimoney to discuss Wall Street’s behavior behind the headlines. As a veteran of a wealth management business that exceeded $1 billion in assets, I offer insight into the people and the “doings” that affect your money. I’ll start the discussion. But I hope you’ll jump in and say what you think.
Here’s something to consider the next time that trader yells in a throaty voice, “Five million Buckeye 5 7/8′s of ’47 to go at six.” Traders earn more money than neurosurgeons. So do I-bankers. According to Bloomberg today, the comparison isn’t even close.
Is Facebook’s $50 billion valuation “God’s work” or more engineering from the organization that brought us the Abacus fiasco?
As you might guess, I’ve been following the Queensland floods with a mix of shock and concern. Yesterday, I received this email from a friend. He does a great job explaining the magnitude of the crisis from a personal perspective:
Goldman Sachs just awarded a $50 billion valuation to Facebook. And in a shrewd branding maneuver, the storied financial behemoth is offering its high-net-worth clients the option to co-invest in the world’s leading social media site.
Before investors jump in with their big boots, however, I encourage them to review this groundbreaking analysis—which I unearthed over at Herding Cats.
CNN Money turned the Dow’s 2010 performance into piano music. It’s not Billy Joel. (I guess someone didn’t care for college bowl games over the New Year’s break.) But it’s worth a listen.
Hedge funds that build their investment style around the lightning-fast trading technology are known as “high-frequency traders.” But how do they make money trading in and out of securities in nanoseconds? Here’s a video from Marketplace that spells it out:
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