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.
Category: Economics
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.
We Don’t Work Too Much But We Spend Too Much Time at Work
For many professionals it seems, Sunday is less a “day off” than it is to do similar things as you might do while “at work” but without the infrastructure and bureaucracy of being “on the job.”
The Secret Science of Stock Symbols
We separated stocks with pronounceable ticker symbols from those with unpronounceable symbols. Across both markets, stocks with pronounceable symbols enjoyed a bigger post-I.P.O. boost than their unpronounceable counterparts. The effect was strongest during the first few days of trading; over time, it weakened, but never quite vanished.
The Prophet
To his listeners, Ramsey holds out the promise that they can simply choose to be different—that it’s within their power to not take part in recessions and the economic problems facing American families. “Debt is normal,” a Ramsey bumper sticker says. “Be weird.”
Abnormal Capitalist 