Felix Salmon

Bob Rubin’s legacy

Bill Cohan’s profile of Bob Rubin doesn’t have much if any new information in it, but is fascinating all the same, not least for the way that Rubin reacted to Cohan’s interview requests.

Eli Broad’s inverted vision

Many years ago, Eli Broad was the very model of the modern enlightened art collector. In December 1988, he opened a 22,600-square-foot “lending library for art”, complete with soaring rhetoric:

Counterparties: Your very tentative housing recovery

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Judging Greg Smith’s book by its cover

We don’t know much about the new book by Greg Smith, Why I Left Goldman Sachs. But we do know what its cover looks like. And there’s no mistaking the fact that the font on the cover of the book is very similar to the font used in the Goldman logo:

The decline of credit cards

Remember when credit-card companies started cutting back on credit lines because delinquencies were going up and people weren’t paying off their debts? Well, pull out your hankies and prepare to dry your eyes: now they have the opposite problem. Harry Terris at American Banker has a classic headline today, “Card Payment Rates Stymie Lending”.

Chart of the day, housing bubble edition

rates.tiff

This chart comes from a new paper by Karl Case and Robert Shiller, looking at the results of a survey they’ve been handing out to homebuyers annually since 2003. The idea is a very smart one: if you want to get an idea of the behavioral economics of homebuyers, the best way to understand what they’re thinking is to simply ask them.

Counterparties: Revenge of the lucky dukies

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Animated chart of the day, Apple vs Microsoft edition

Back when this blog was on hiatus, I put a chart of Microsoft and Apple valuations up over at felixsalmon.com. People liked it, and so I decided to take the obvious next step, and animate it. The result is the video above, and this gif.

The importance of Occupy

On September 7, Occupy the SEC followed up its fantastic comment letter of last February with an equally perspicacious and detailed update. At 15 pages, the new letter is much shorter than the 325-page original, but it still packs a heavy punch, and it arrives at exactly the right time: just as the SEC and other regulatory agencies are trying to work out how the Volcker Rule should look, especially in the wake of the JP Morgan London Whale fiasco. (All of which was, embarrassingly, entirely Volcker-compliant.)