Art is, quite possibly, the least commoditised asset in the investment universe, offering the potential for great returns but also—as is rarely explained by its market proponents—subject to enormous risk.
Author: Edouard Chazal
How to Resolve the Fiscal Problems of Southern Europe?
As the Greek case shows, citizens cannot endure privations for a long period of time.
A very interesting chronological review of the events that undermined Baltic republics which then spread to the Southern Europe.
An Agenda to Save the Euro
Joseph E. Stiglitz :
The euro was supposed to bring growth, prosperity, and a sense of unity to Europe. Instead, it has brought stagnation, instability, and divisiveness.
UBS Saved €2.5 Billion by Sending a Fax to Brussels
The process for alerting the commission of cartel activity may surprise you: Companies send a fax to Brussels. A dedicated “leniency fax”—the number is +32 2 299 4585, should you be needing it—is the only way, apparently, for the commission to record the official time and date of first contact with whistleblowers in cartel cases. Thus, UBS’s well-timed fax saved it the equivalent of $3.4 billion in fines.
Speed Traders Meet Nightmare on Elm Street With Nanex
The nemesis of Wall Street’s high-frequency traders operates out of an apartment-sized office above the Bliss Salon — manicure/pedicure $45 — on Elm Street in the Chicago suburb of Winnetka.
