Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Financial Acct
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Sat May 1, 2010 Warren Buffet defended Goldman Sachs to his BRK investors at the annual meeting in Omaha. Readers will recall that Buffet invested $5 B in GS preferred in 2008 with a whopping 10% dividend, as Warren puts it, $500 M a year, $15 a second. Reading the article note this is a…
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Sat May 1, 2010 Deborah Alvarado campus representative for Becker CPA Review addressed the students in the Graduate Ethics class this past Wed April 28. The reason to attain an MPA is generally to take the CPA exam. She mentioned the suggested method of taking the exam, which is two parts per testing period of…
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Sat May 1 2010 The initial run up in the stock market from 1982-87 was accompanied by the development of the junk bond market. An enterprising trader named Mike Milken realized that a lot of unrated or low rated debt was the lifeblood of many entrepreneurs. He argued that those entrepreneurs would not default as…
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Tuesday April 27, 2010 The licensing rights for the Peanuts Gang has been sold for $175 M. I make this post as a socionomic observation. Market highs tend to be inclusive, people want to joint together. Acquisitions are made, mergers occur, white knights emerge. This never happens at market bottoms when things are cheaper. The…
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Monday Apr 26 2010 Okay, let's as the saying goes, connect the dots. Warren Buffet is supposed to be an advisor to Pres Barack Obama Warren made a comment in this 2002 annual report that derivatives were potential weapons of mass destruction. The financial reform bill will require derivatives to traded on exchanges, subject to…
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Monday Apr 26, 2010 Rick Santelli on CNB C suggested months ago that derivatives should be put on the exchanges so that everyone could see what they are worth, who issues them, ie, real transparency, real rules. This is one of the provisions of the Financial Reform Bill. The NY Times, courtesy of the Senate,…
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Tuesday April 20 Turns out the SEC voted 3-2 on whether to prosecute Goldman, another party line vote. This is hardly the stuff of real ethics. The rules should be clear, ethics in financial dealings should not be a value judgement.
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Friday April 16 2010 We are studying earnings per share. Let's compare Sterling Bank SBIB with Cullen Frost Bank CFR. Now go to finance.yahoo.com and enter SBIB. At bottom left you will see the income and cash flow statements. One can view quarterly or annuals. Hmm, what do you find? As you can see SBIB…
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Friday April 16 2010 This is the sort of conversation that usually takes place at pay day loan offices, ie, the borrower is forever short making the payment. Ah the world of subprime sovereign debt. Argentina is offering a debt swap. Which is to say, will you take this lesser payment which is at least…
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Wed April 14 2010 Here is one for the ‘now I have heard it all department.’ Yes the New York City Off Track Betting Corp OTB is in Federal Bankruptcy Court under Chapter 9. But it gets worse! The New York Racing Association, a creditor, has asked the case be thrown out, saying OTB does…
Professor Elam 