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One could ask the question: how did the financial system got us into such a mess? First one has to look at the value of anything and nothing… On average:

  IT’S ONLY WHEN the tide goes out that you learn who’s been swimming naked,” the billionaire investor Warren Buffett has famously said. During the crash of 2008, the whole world learned just how dangerously nude Wall Street was. Now evidence is accumulating that suggests that many financial institutions are skinny-dipping once more — via similar types of lending that could lead to similar disasters as the water recedes again due to the Covid-19 pandemic. A longtime industry analyst has uncovered creative accounting on a startling scale in the commercial real estate market, in ways ...

his is not just the conclusion of academics. John Flynn has worked in commercial real estate for decades, including stints at GMAC Commercial Mortgage and the ratings agencies Moody’s and Fitch. He now provides advisory and consulting services for CMBS investors, borrowers, and lawyers. In conversation, Flynn comes across much like the investor Michael Burry in “The Big Short,” combining a love for financial arcana with deep outrage at how the system screws the little guy. “I’m not a perfect angel,” says Flynn. “But there has to be a limit.” Flynn’...

Published February 28, 2013  Bloomberg Businessweek was forced to apologize after a controversial cover drew the ire of minority groups.  In last week's issue, the weekly magazine had a cover about the housing bubble that featured a money-filled, two-story house inhabited by two Latinos and two African-Americans. The cartoons look like they’re racist caricatures from the early 1900s greedily grabbing money, critics say. The Columbia Journalism Review was taken aback by the imagery, writing a blistering piece that said the cover was “not okay.”  "It’s hard to imagine how this one ma...

How Companies Pay Shareholders: Are Buybacks Good For Shareholders In The Long Run?  Share   Share Trending Given the dynamics we've discussed earlier regarding buybacks, it should be no surprise to see that they tend to be additive to performance. Of course, critics acknowledge that buybacks tend to boost short-term prices. How could anyone deny that an increase of buying any asset, ceteris paribus, increases its price? But what critics miss is that gains are not limited to the short run. "Buybacks do increase the short-term stock price – but they increase the long-term stock return ev...