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We don't want no interest-free loans!

November 18, 2009

A long time ago, when I was first learning to manage my finances, my dad instructed me to prepay my credit card. This effectively transformed the credit card into a debit card by running a positive balance on the account. It was a great learning mechanism because it still required me to make monthly payments, […]

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Spotted: a free lunch

June 11, 2009

The internets are buzzing about the CDS trade that netted small brokerage firm Amherst a nice profit at the expense of Wall Street giant JPM. I may be missing something, but it seems to me that the risk hasn't disappeared (as is being implied), it has merely been transferred from the mortgage originators (or whomever […]

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