How to Buy Google: Secrets of Accessing the American Stock Market

It is not a secret that the American stock market is the world’s largest both in the number of companies traded and in capitalization. The diversity of financial instruments is not limited to liquid stock but includes bonds, futures, options, swaps, etc. Many investors are non-US residents and wish to gain access to such a liquid, diverse and receptive market. Read more »

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К вопросу о том, где инвесторы защищены лучше

В сентябре 2011 года в Лихтенштайне в рамках глобальной стратегии мы обсудали вопрос: где защита инвесторов максимальная, а регулируемость рынка самая жесткая? С точки зрения закона о ценных бумагах нигде в мире я не встречал более сильного законодательства, чем в США. Европа (особенно Великобритания) начинает в этом плане подтягиваться, но медленно. Read more »

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Как заработать на здоровье: об индустрии медицинского обслуживания в США.

Два графика ниже показывают динамику прироста ВВП и расходов американцев на медицинское обслуживание. Невооруженным взглядом видно, что темпы прироста расходов на медицину значительно превышает прирост экономики в долгосрочной перспективе, что должно было вознаградить инвестров отрасли. Проверим, так ли это. Read more »

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К вопросу о доткомах и их преемниках

Приближается IPO Фейсбука… Нас часто спрашивают, инвестируем ли мы в столь популярные сегодня социальные сети и подобные им инструменты. В мае и ноябре 2011 года мы обозначили позицию, и она не изменилась. Когда в наши дни видишь успешные размещения, подобные Groupon, LinkedIn или частное финансирование Фейсбука, понимаешь, что “Вселенная и человеческая глупость бесконечны”. Read more »

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Re: Difference in Investment Business in Russia and the US

The difference in investment business of the two countries is interesting. In Russia, if a broker-dealer or asset manager is registered in Moscow, s/he can advertise him/herself in any region and have clients all over the country. In the US, an investment bank or asset manager registered in one state has the right to promote him/herself in that state exclusively. To be able to promote themselves in other states as well as have clients there (over 5 per state), s/he is required to be registered in those states, in all 50 if need be! The procedure is simple, though the essence is trivial: fundraising. $300 USD annual fee per company per state, $15,000 USD in all states. A kind of pre-paid annual fee for the presence, though you have not done anything yet.

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Amusing picture from Citigroup: Debt-to-GDP Dynamics of the US and Developed Countries

 

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Regarding Investments of Bankers and Corporations

Are bankers and corporations really doing so badly? The US banks (as well as European) are lending at close to a 0% interest rate. They are bringing the money back to the FRS deposits and not to the economy, skimming the cream off the monetary policy. Today the banks’ margin as a percentage from their earnings beats the record while banks’ interest expenses have dropped to a historic minimum to almost zero rates. Read more »

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Dedication to All Forex Traders

While communicating with Forex traders, I have come to the conclusion that the success rate in this market is comparable to that of a casino: about 2% of traders  earn regularly and live off this income, while around 8% are in the black but do not live off of it; winning and losing occasionally.  In the end, about 90% lose and leave the market. Hail to the traders who “held out” in the market for over 5 years. They are among the extraordinary and the astute :)  One trader who happens to be a businessman and one smart cookie, unfortunately lost everything, but decided to write a book on how to earn on the Forex. He proceeded to win back everything he had lost and even earned more :) There you go. Read more »

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S&P Growth Mosaic by Sector

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The Story of Facebook

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