Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Financial Acct
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Tuesday Nov 23 2010 Those of you contemplating the spring trip to Ireland might start reading up on what you are likely to find on your arrival in the Emerald Isle. Mish lays out the facts, why make the Irish citizens pay for the mistakes of their bankers? Ireland's Reckoning at http://www.businessweek.com is highly recommended reading. Ireland…
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Wednesday Nov 17 2010 QE II is explained in this sort of animation. It is right to the point, when I viewed it over 500,000 people had done so. IN the internet world everyone has a voice. This voice satirizes the entire QE II process. Thanks to alert student Adam Hayes for this link!
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Thursday Nov 11 2010 John Chambers Cisco CEO has made hundreds of millions by cashing out stock options. Yet the price of the stock for shareholders has gone nowhere since 2003, and it pays no dividend. I disagree with author Spiceland that stock dividends do not increase the value of shares, if the stock dividend is in…
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Wed Nov 10 2010 I have several links to new sources outside the US on this blog. It is important to get different points of view. Here is the Taiwan view of the US banking system. I disagree on the tax cuts, if one owns five pizza parlors it would take $250,000 in profits to…
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Sat Oct 30 2010 This article about Town Hall Corporate demystifies the language used by CEOs to explain what they are doing. As always, things are not what they seem!
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Tuesday Oct 26 2010 Financial Accounting GAAP requires an adjustment to market when the value of securities held rises or falls above cost. Or at least that is the idea of Trading Securities and Available for Sale Securities. But Berkshire Hathaway did not take any mark to market losses on Kraft or US Bancorp, both…
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Saturday Oct 23 2010 The great mortgage implosion of 2008 was finally caused by a mis match of liabilities and revenue. Banks and brokers had sold short term commercial paper backed by long term mortgages, and then leveraged the mortgages so there was even more on the line. When a few mortgages were late in…
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Sat Oct 23 2010 CA cannot pay its pension obligations. This is a link to Mish's blog but there are lots of other examples that he cites. Pittsburgh for example, is toast, they just will not admit it. Chicago has already sold its parking meter revenue to the Texas State Teacher Retirement Fund. As Mish says doing…
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Wed Oct 20 2010 This professor who wrote the Best Way to Rob a Bank is to Own One explains the lack of oversight of bank lending that allowed many to profit from putting non qualified borrowers into homes they cannot afford. Frankly I suspect that the government will have to invent some sort of rescue…
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Monday Oct 18, 2010 The Big Mac Index attempts to show overvalued currencies by calculating the price of a Big Mac in various currencies. The ones at top are over valued. Sure enough the Euro is selling off this morning.
Professor Elam 