The Best of the Aleph Blog, Part 15
This stretches from August 2010 to October 2010: The Education of a Corporate Bond Manager, Part VII On the value of credit analysts. The Education of a Corporate Bond Manager, Part VIII On price discovery in dealer markets, and auctions gone wrong. I never knew that I could haggle so well. The Education of a...
Sovereign debt stats in the stocks
It’s all about stock-flow adjustments, or SFAs — the curious cases when a government’s stock of debt increases without a corresponding change in its deficit to explain it....
The (crumbling) walls of Nama: another Irish accounting reel
God, but Ireland must simply hate Eurostat. The pesky statistics agency keeps forcing it to recognise all of those expenses it would otherwise prefer to ignore.And the agency is at it again....
Double Whammy for SouthGobi Shares
The wave of auditor resignations among Hong Kong-listed companies continues, but this time it’s not a little-known small-cap company that’s in question.
Sorted Weekly Tweets
Valuations High Yield Closed End Funds 68% over NAV, 3% avg premium. Loan Participation CEFs 40% over NAV, -1% avg discount. Conditions r medium hot $$ Apr 07, 2012 Why Stocks Look Too Pricey http://t.co/TWqZzGg3 Various Indicators Suggest the Market Is No Longer a Bargain, at best fairly valued $$ Apr 07, 2012 Contra:...
Now you see the promissory notes in the deficit, now you don’t
“We’ll avoid the accounting implications of this deal, though we think it might be an interesting study,” we said last week of Ireland’s circuitous non-deferral...
Sorted Weekly Tweets
China China’s first bond default could be good market medicine http://t.co/8ShFniYM Bond trader: “We don’t really have a credit risk culture.” $$ Mar 31, 2012 Is China’s slowdown worse than previously estimated? http://t.co/CkZw8tLK Could b business conditions that are worst since 2009. $$ Mar 31, 2012 China Banks Said to Underestimate Local Government...
Groupon in accounting mess shocker
It is, at pixel time, getting quite late on Friday in the States.What better time for Groupon – the business school accounting cautionary tale masquerading as an online...
Now you see the headline fiscal deficit, now you don’t
So, in case you missed it, the IMF released an excellent, pithy staff note on ‘Accounting Devices and Fiscal Illusions’ this week – all about book-cooking of sovereign debt stats....
Accounting Problems in China Make a Comeback
Reporting season in Hong Kong is exposing a number of problematic Chinese companies with audit issues.
Accounting Problems in China Make a Comeback
Reporting season in Hong Kong is exposing a number of problematic Chinese companies with audit issues.
Why Auditors Should be Rotated
There is a proposal afoot to mandate auditor rotation every fiver years or so. Some don’t like it. I think it is a great idea, with large benefits relative to the costs. My insights, or lack thereof come from working in life insurance financial reporting in a number of different ways for around 15 years. ...
