In the 2001 issue of the International Journal of Forecasting, an economist from the International Monetary Fund, Prakash Loungani, published a survey of the accuracy of economic forecasts throughout the 1990s. He reached two conclusions. The first was that forecasts are all much the same. There was little to choose between those produced by the…
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And still no one is in prison…. If you were writing a paranoidfantasyof gold price manipulation you’d be hard pressed to come up with something more on the nose than the U.K. Financial Conduct Authority’s order against Barclays. It has everything; it is the benchmark of manipulation by which all future manipulation will be measured. Well, this…
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I can see this catching on. According to the report, the billionaire businessman managed to swindle the state out of $2.6 billion, in a scam that began back in 2007. The execution happened suddenly, without giving Khosravi any notice, according to his attorney, Gholam Ali Riahi. More here – Latin Post
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If ever you wondered how stupid conservative politicians in the US are look no further
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I have been pondering the return to the bad old days of financial planning as advocated by the big banks and in my discussions with people they find it hard to grasp the impact of fees upon investment returns. I think this is due to a basic innumeracy among people and I believe this is…
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One of the best wealth transference scams ever invented continues. The same thing can be said for the domestic funds management industry – particularly where superannuation is concerned. Recent changes to remove the best interest provision will see investors even worse off courtesy of a return to the bad old days of belting people…
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One of the joys of keeping odd hours is that you hear all sorts of things that make you go WTF. So I was not surprised to hear in the wee small hours someone extolling the virtues of FX. Their basic pitch was FX is the most volatile market in the world .Therefore, this translates…
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This is from the fabulous Lefsestz Letter which about much more than music. AMATEURS Have tons of ideas, are excited about all of them and see none to fruition. PROFESSIONALS Have tons of ideas, pick one and do their best to make it happen. AMATEURS Think they can do everything. PROFESSIONALS Know it’s almost impossible…
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