Category: finance

Swapping Credit by Default

A credit default swap is a financial instrument that allows lenders (or buyers of bonds) to swap their rates of return in the event of default (or another event of similar magnitude, but different direction, e.g., a credit upgrade). They…

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India’s Billionaires – Daddy’s Boys

It’s no secret that the BRIC (Brazil, Russia, India, China) countries have a much larger representation in the Forbes world’s billionaires rankings. What’s more interesting is the origination of the Indian billionaires’ wealth (four of the top eight billionaires were…

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Risk Relationships Across The Pond

Last week’s Economist has an article that compares the risk preferences of Americans versus Europeans: ANYBODY who dabbles in transatlantic affairs has come across one giant stereotype: Americans admire risk-takers, whereas Europeans (at least in the rich, stable parts of…

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A Change in the DJIA

Two stocks in the Dow Jones Industrial Average are going to be replaced: Bank of America Corp. and Chevron Corp. will replace Altria Group, Inc., and Honeywell International, Inc., in the Dow Jones Industrial Average, effective with the opening of…

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