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A funny thing happened on the way to the downgrade

August 9, 2011

The most interesting thing about yesterday's market action was the behavior of the Treasury market: It rose. If the market collapse was really about investors reacting negatively to the United States' new, lower credit rating, why on earth would replace their stocks with a direct investment in that very same government? We can only know […]

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37Signals is worth $100 billion

September 29, 2009

Closely following the Twitter valuation news comes this brilliant satire from 37signals: 37signals is now a $100 billion dollar company, according to a group of investors who have agreed to purchase 0.000000001% of the company in exchange for $1... In order to increase the value of the company, 37signals has decided to stop generating revenues. […]

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On revisions, episode II

April 4, 2009

It occurs to me in looking at the revised payroll numbers that each month's revision creates the illusion of a bottom having occurred in that month, since the revisions to past months are almost always below the reported number of the most recent month. But it is widely accepted that the employment bottom will lag other indicators, […]

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Raise your hand if you want to get rich

January 26, 2009

Speaking of Nigeria, here's one of the most classic opening scenes of The Office: Toby: Didn't you lose a lot of money on that other investment? The one from the email? Michael: You know what, Toby? When the son of the deposed king of Nigeria emails you directly, asking for help, you help! His father […]

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