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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The biggest profit center for investment banks is the hefty fees they charge for underwriting stock offerings and giving financial advice, and analysts put those profits at risk if they publish negative conclusions about the companies that pay the fees.
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Robert M. Morgenthau, the Manhattan district attorney, has seen a few financial schemes in his time. As the lead local prosecutor in the world's financial capital, he has battled frauds like the Bank of Credit and Commerce International, which stole billions of dollars from investors worldwide.
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One of the Internet's highest-profile companies, Priceline once dreamed of transforming the way consumer goods are bought and sold by offering customers the chance to 'name your own price' for a variety of products, including airline tickets.
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Microeconomics is the study of how specific choices made by businesses, consumers and governments affect the markets for different goods and services. For example, a microeconomist might examine how price changes affect sales of apples relative to oranges.
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Many legal experts note that prosecutors regularly seek indictments of people or companies for destroying evidence or impeding investigations, even if they cannot prove other charges.
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It's no secret that big institutional investors have a lot of advantages on Wall Street. They get the first chance to buy hot initial public offerings. They get to meet in person with companies' managements.
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It is a truth universally acknowledged on Wall Street that original research is on life support. Serious research can be bad for business, as well as expensive.
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Economics pretends to be a science. Its practitioners fill blackboards with equations and clog computers with data. But it is really a faith, or more accurately a set of overlapping and squabbling faiths, each with its own doctrines.
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Determining how many asbestos suits have been filed or how much companies have spent to resolve them is difficult. Cases are filed in state and federal courts, and many companies do not disclose their spending on settlements.
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Bigger spreads mean bigger gaps between what buyers pay and sellers receive. For example, a spread of 10 cents a share means that the buyer pays $100 more for 1,000 shares than the seller receives.
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Big fund companies have many ways to increase the returns of young funds that they want to promote. And at least one of those games involves popular offerings.
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Benefits are rarely made public in filings with the Securities and Exchange Commission, where companies must report the pay and options that their five highest-paid executives receive.
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After a generation of misrule under Mr. Hussein, who built a huge military infrastructure while neglecting civilian investment, and a dozen years of United Nations sanctions, Iraq's unemployment rate tops 50 percent.
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Whatever the potential pitfalls, banks are increasingly enthusiastic about venture capital, particularly in new companies with strong prospects in fields like health care and technology.