In a not-so-shocking analysis of one of the most-watched TV investment advisers, author Eric Tyson argues that Jim Cramer’s actual stock-picking performance doesn’t match the strength of his bellowing.
For many of us, this is the first recession where we are responsible for our own financial well-being. How should we react? What habits are important during a long, deep recession?
If you bought individual Enron stock, you might get a piece of a new settlement against all the companies who supported Enron along the way and knew, or should have known, what was up. [TopClassActions]
Madoff’s $50 billion scam came unwound when too many investors tried to pull their money at the same time, which means we’re likely to more big swindles get exposed in the coming months…
If you’re feeling pessimistic, you can swap your depressed stock for a week at the beach. [NYT] (Thanks, handsatlanta!)
Kiplinger’s has an article that lists a few “financial meltdown” themed scams that are out there taking advantage of people lately.
Here is a sexy graph breaking down the S&P’s performance from 1825 to present, fitting each year into a column based on that year’s annual returns, from -50% to +60%.
Here’s a sad bit of news, investors are so shaken that they’re willing to put their money into Treasury bills — even if it means losing money.
If you have some extra cash right now, there’s a big sale going on right now you should know about. It’s called the stock market.
Goldman-Sachs read my post, “Goldman Rips Off Non-Profits, Endowments, Foundations, And Charities” about a conversation I had with a Goldman-Sachs trader where he boasted about ripping off charitable organizations with excessive fees, and they’re hopping mad. Here is the lovenote sent by Melissa Daly, VP of Corporate Communications:
What are margin calls? The term has been bandied about lately as being one of the reasons for the steep declines in the market. Basically, it’s when depositor’s margin account at a brokerage falls below minimum levels and the brokerage tells the depositor to either deposit more money or they have to sell off some of their holdings. And a spate of selling drives down stock prices because as supply increases, prices drop. But why are there margin accounts and why are brokerages making margin calls in the first place? Marketplace’s ever-salubrious Paddy Hirsch explains with girl scouts, girl scout cookies, a whiteboard, dry-erase markers, and stick figures, in the video inside…
Aug. 5, 1931. I went to the fruit market house this evening. It was almost deserted. The farmers cannot sell their produce because men are not working and it has become fashionable for each family to have its own vegetable garden.
With the stock market so scary right now, investors are looking for a sure thing, especially those approaching or in retirement. Enter the equity index annuity, which promises you’ll never lose money but if the index it’s tracked to, like the S&P 500, gains, you’ll get some of that. Though your maximum upside is capped and you have to agree to keep your money in there for a fixed term or suffer stiff early-withdrawal penalties. Annuities are infamous for being extremely complicated and festooned with bizarre fees, but, that aside, NYT Your Money reporter Ron Lieber analyzed a typical equity index annuity and found it was a bad bet. Here’s how the numbers played out…