Alex Berenson
Alex Berenson
Alex Berensonis a former reporter for The New York Times and the author of several thriller novels and a book on corporate financial filings...
NationalityAmerican
ProfessionAuthor
Date of Birth6 January 1973
CountryUnited States of America
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Institutions like mutual funds often worry that if they disclose their plans to buy a stock, copycats will move quickly and drive up the stock before the purchase is completed.
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Higher productivity enables companies to increase sales without adding workers. Even if job markets tighten and wages rise, corporate profits can continue to climb as long as worker productivity is growing faster than overall wages.
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Enron had already collapsed and filed for bankruptcy protection by the beginning of 2002. But despite complaints from short sellers that corporations had used accounting gimmickry to inflate their profits, many investors thought the crisis at Enron was an isolated case.
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To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.
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African runners regularly work out in the United States and Europe, and the International Olympic Committee sends some of the cash from the Games to Olympic committees in poor nations, which use the money to finance their own programs.
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Big banks have long had private equity divisions that put up capital for deals too complex or risky for individual shareholders to finance.
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To finance deficits, the government must sell bonds to investors, competing for capital that could otherwise be used to invest in stocks or corporate bonds. Government borrowings raise long-term interest rates, stifling economic growth.
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With 950 reporters and 79 bureaus, Bloomberg competes to break news with Dow Jones, Reuters and Bridge News along with newspaper Web sites, dozens of smaller Internet sites, and even gossipy chat rooms.
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While Wall Street firms typically underwrite offerings in teams, the lead underwriter, or manager, of the offering has primary responsibility for selling the offering and reaps much of the fees and profit.
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The Wahhabists are the boogeymen, the guys who will chop the head off any American they catch. And they will destroy Iraq without a second thought if they believe that the instability will benefit them.
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The market always, in theory at least, looks ahead. And it's always trying to take in every bit of information that it can as quickly as it can. You don't really care so much if the company made a dollar last year; you want to know what it's going to make this year.
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The lower spreads mean lower costs for investors, because Nasdaq investors generally do not trade directly with one another. Instead, they usually buy and sell from market-makers, brokerage firms that flip shares between buyers and sellers and keep the spread for themselves.
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The fact that we haven't faced another major terrorist attack on American soil since Sept. 11 is a very significant achievement, and one that's easy to forget - it's the dog that doesn't bark.
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The difference between microeconomics and macroeconomics is a bit like the difference between biology and medicine. Knowing that certain genes increase the risk of cancer is relatively easy. Figuring out exactly which people will get sick, or how to cure them, is a lot more complicated.