By SIMON CONSTABLE
Listen here.
Thursday, December 9, 2021
Monday, December 6, 2021
WSJ: When People Refer to ‘Fiscal Space,’ What Does It Mean?
By SIMON CONSTABLE
Investors may hear economists and market analysts using the term “fiscal space.” Those who are invested, or plan to invest, in countries with high debt levels should know what it means. Read more here.
Photo by Immo Wegmann on Unsplash
Thursday, December 2, 2021
Time Magazine: How the Enron Scandal Changed American Business Forever
By SIMON CONSTABLE
It’s the kind of historic anniversary few people really want to remember.
In early December 2001, innovative energy company Enron Corporation, a darling of Wall Street investors with $63.4 billion in assets, went bust. It was the largest bankruptcy in U.S. history. Some of the corporation’s executives, including the CEO and chief financial officer, went to prison for fraud and other offenses. Shareholders hit the company with a $40 billion lawsuit, and the company’s auditor, Arthur Andersen, ceased doing business after losing many of its clients.
It was also a black mark on the U.S. stock market. At the time, most investors didn’t see the prospect of massive financial fraud as a real risk when buying U.S.-listed stocks. “U.S. markets had long been the gold standard in transparency and compliance,” says Jack Ablin, founding partner at Cresset Capital and a veteran of financial markets. “That was a real one-two punch on credibility. That was a watershed for the U.S. public.” Read more here.
It’s the kind of historic anniversary few people really want to remember.
In early December 2001, innovative energy company Enron Corporation, a darling of Wall Street investors with $63.4 billion in assets, went bust. It was the largest bankruptcy in U.S. history. Some of the corporation’s executives, including the CEO and chief financial officer, went to prison for fraud and other offenses. Shareholders hit the company with a $40 billion lawsuit, and the company’s auditor, Arthur Andersen, ceased doing business after losing many of its clients.
It was also a black mark on the U.S. stock market. At the time, most investors didn’t see the prospect of massive financial fraud as a real risk when buying U.S.-listed stocks. “U.S. markets had long been the gold standard in transparency and compliance,” says Jack Ablin, founding partner at Cresset Capital and a veteran of financial markets. “That was a real one-two punch on credibility. That was a watershed for the U.S. public.” Read more here.
Tuesday, November 30, 2021
Forbes: More Bad News For China’s Sorry Real Estate Market, UBS Says
By SIMON CONSTABLE
The hits keep on coming for China’s economy.
This time the news is the country’s already beleaguered real estate sector is set for more bad news. Read more here.
Photo by Nick Fewings on Unsplash
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