There are serious ethical questions surrounding whether or not investors should own stock in BP. But is it also unethical for art galleries and museums to accept money from BP? Time’s Frances Perraudin gives the people who think so a lot of sympathetic space:
Carl Richards has a cute graph:
The basic idea here is right. And in fact Richards understates, in his graph, just how bad things are when it comes to market forecasts: his graph curves the wrong way.
Todd Henderson’s whine about how he’s only scraping by on $450,000 a year in his million-dollar Chicago house is causing quite a stir in the blogosphere. (Tyler Cowen says that “this number seems not to be true”, but Henderson isn’t clarifying things, and it’s very hard to come up with a substantially lower number which would result in his family still paying “nearly $100,000 in federal and state taxes”.)
Here’s a great way of making money in the market. At the end of every month, look to see whether stocks went up or whether they went down. If they went up, then buy stocks at the average price for the month. And if they went down, then sell stocks at the average price for the month. Follow that strategy for 130 years, and you can turn $1 into $50,000!
Chart of the day comes from Kyle Stock:
This is very bad indeed: women are leaving the financial-services industry even as men are joining it; and the trend is most pronounced among the youngest cohorts of the population, who will be running the industry in the future.
Many thanks to Joe Nocera for raising the issue of One World Trade Center’s finances. It’s by far the tallest and most expensive building that New York has ever seen, and it’s no thing of beauty, either. Plus, there’s not nearly enough demand for new top-grade office space to justify building so much of it at this location and at this time. So what exactly is the Port Authority thinking?