It’s not just Jeffery Gundlach’s daily pleas for a < DP > command. Even your and Alan Greespan’s inability to master the terminal’s most terribly elementary functions will do. Read more »
Alan Greenspan
FOMC Minutes Reveal Little Known Long Time Fed Chair Tradition Of Pulling A Tiny Prank On Your Successor
By Bess Levin
As you may have heard, the Federal Reserve is now releasing transcripts of its FOMC meetings, in an effort to be open and honest with the public about what it is they do all day. Out this morning are the minutes from 2006′s get-togethers and one thing that stands out is how much fun these guys are having without us! In fact, they spent most of 2006 in stitches, as evidenced by the amount of material The Economist was able to compile under “comments from the Federal Open Market Committee meetings which resulted in laughter.” They’ve got their beard jokes (Mr. Poole: “Okay. Mr. Chairman, it is a great delight to see a 200 percent increase in the number of beards around this table. [Laughter]“), their penis innuendos (Chairman Bernanke: “Still pretty large. [Laughter]“), and their deep nerd humor (“Again, within the normal errors of Okun’s law—despite its name “law,” it’s a pretty loose empirical relationship [laughter]“). But the biggest laugh riot which still holds up today and unquestionably has Alan Greenspan pissing his pants in laughter as he reads it at home? Read more »
Who’s Got One “I Heart Ayn Rand” Neck Tattoo And A Good Chance Of Being Dragged Out Of The Theater Pee Wee Herman Style Tonight?
By Bess LevinGive you two guesses but you’ll only need one. Read more »
Ferrari Makes Push For “Wealthy Families” With Roomier, 4-Wheel Drive Vehicle, Fails To Target Other Potential Markets
By Bess Levin
As you may have heard, Ferrari has introduced a new car, the FF, which comes with four-wheel drive, room for four and 15.9 cubic feet of trunk space, the most in its category. The FF, which will set you back $359,000, is being targeted to “wealthy families” whose head of household would like to be in a two-seater but has a wife, kids and all their stuff to consider. But this is just as good, says Fabio Barone Ferrari owner and chairman of the Passione Rossa owners’ club. “You can finally drive a real Ferrari, with its extreme performance, to take your family skiing.” With the FF, Ferrari is “widening its offer to niches it didn’t cover before,” said AT Kearney analyst Marco Santino. “It may be a winning strategy if they are bringing something really new to the market.” True but it seems us that Ferrari could be going after hell of a lot more niches than just wealthy family men and does itself a disservice by not considering the other individuals who would happily shell out for this thing. Read more »
At a talk at NYU earlier this week, Alan Greenspan told John Paulson, “Whenever I get gloomy, I think of Winston Churchill. America always does the right things … after it has tried every other viable alternative.” Being pressed for time they had to go on to the next question, but if they’d had longer, Big Al would’ve shared all his tricks for turning that frown upside down. Read more »
“The morning after we learned of the news,” Greenspan said of the Dow Jones plunging 6.98 percent that day in September 2008, “I was able to look myself in the mirror and say, ‘Hey, not bad.’” Sure, if he’d tried just a little harder he could’ve done better– 10 percent would’ve been a dream– but really, all things considering, not bad! Solid B+ work. [NYU via BI]
Shout out to the Doctor in John Paulson’s year-end letter to investors. Read more »
John Paulson To Formally Thank Alan Greenspan For Being The Best Federal Reserve Chairman Of All Time
By Bess Levin
He’s does it all the time around the office but never in public, in front of other people.
To: NYU Stern Community
Subject: Interview with Dr. Allan Greenspan, Former Chairman of the Federal Reserve, by John A. Paulson, President of Paulson & Co. Inc
“I’m waiting for someone to come back and tell me my data was wrong,” Big Al said in an interview with the Journal today. “Allow the facts to fall where they are. I have answered my critics. I have put the data out there. Let them prove me wrong.” He meant about the economy though feel free to freestyle on other topics. Come one, come all. [WSJ]
It might seem like a difficult job to give up, what with the fame, the power, and the access to a printing press that means you’ll never be short on cash. And considering it was the thing that defined him for almost twenty years, you might think giving up the gig might be hard for Big Al. But honestly, it really wasn’t. What probably helped the transition was the unlimited offers to headline conferences in the Maldives, pocket 300 large for a giving a 5 minute speech and then sip pina coladas with ten of UBS’s finest investor relations bunnies, the months of comedic relief associated with watching his successor get his ass torn out after having promised the guy “things are in pretty good shape” just before leaving the building, and the mornings off to watch the Price is Right. But…there a couple things McG does miss and today over a lunch of grilled Swordfish and Diet Coke, he unloaded on the FT. Hint: they involve 1) being paid to just shoot the shit about the previous night’s episode of Survivor and 2) a big hunk of love who probably gives great if not sweaty bear hugs. Read more »
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SoFi Answers the Call to Refinance Student Loans and Provides Unique Community Benefits
This is a guest post written by SoFi’s CEO, Mike Cagney.
CLICK HERE TO READ THE FULL ARTICLE
Recently, there’s been a lot of talk amongst leaders in Washington about how to improve the painful process of repaying student loans. At SoFi, we feel your pain and work hard to offer more flexible, more affordable options for our borrowers. One idea that’s getting a lot of attention is increasing the options for refinancing debt after graduation. The only lender currently focused on refinancing private and federal student loans is SoFi.
We recognized early on that borrowers who have made timely payments on their loans, graduated from school, and have a job should be able to refinance their student loans at a lower interest rate. This may be why, after resuming lending by invitation, the media became increasingly interested in what we are doing.
In a recent article posted on MainStreet.com SoFi General Counsel Rob Lavet had this to say about SoFi’s ReFi products: Read more »
You know what they say: You can’t choose your family, but you can choose your financial planner. Or something like that. One of the great things of being in charge of your money is choosing who (if anyone) will help you manage it. The choice isn’t always an easy one. How will you know that your planner is reputable and trustworthy?
These five red flags may be good indications of whether the financial planner sitting across from you is someone you should trust with your money. LearnVest Planning also provides an innovative 7-step program for your money where you work one-on-one with a financial planner. To see if this program is right for you, start with a free financial consultation.
1. She Isn’t Certified
“There are a lot of good planners out there who aren’t Certified Financial Panners™,” says Samantha Vient, CFP®, of LearnVest Planning Services. “However, CFPs® are required to adhere to the CFP® Board’s standards of professional conduct.We believe it’s always a good idea to work with someone who has the CFP® designation, which is issued after completing a CFP® Board-approved personal financial planning curriculum, passing a rigorous exam issued by the Certified Financial Planner Board of Standards, meeting experience requirements and passing an ethics and background check.
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