Inanities
At the Kitchen Cabinet, a blog with which Dean and I have interacted at our other blog, Lily Malcolm throws us a link, and compares us to CNBC. Apropos which, I solemnly swear that we will never broadcast golf on the weekends.

Her entry immediately below that one, incidentally, touches on the KPMG tax-shelter scandal. You'd think we'd have mentioned that, or the mutual fund scandals, but I guess we don't really have anything to say. That doesn't always stop us, but sometimes it does.

Some representative of the mutual fund industry was on "Nightly Business Report" tonight. He said that he thought mutual funds should be run with the interests of shareholders in mind. "How about puppies and apple pie?" I thought. "Do you like puppies and apple pie? And are you pro-mother, or anti? Take a stand!"

I'm supposed to be creating a power-point presentation on junk bonds. Did you know that fallen angels have a higher credit-rating volatility than original-issue junk bonds? This is especially true for the first couple of years after they fall below investment-grade, when they have a substantially higher rate of default than original-issue junk of the same credit rating. But they also have a higher chance of being upgraded. That's the most interesting thing I've learned from this project.
- posted by Steven @ 11:44 PM