Top 5 Articles from November
1. Warren Buffett Shows His Hand
When Warren Buffett recently disclosed a 5.4% position in International Business Machines (IBM), it took almost everyone by surprise. How did the Oracle of Omaha manage to build a $10.7 billion position in the technology bellwether over the course of the year in such secrecy?
2. Anatomy of the MF Global Debacle
Here we go again: Another high-profile bankruptcy of a financial firm… Another scandal… It’s just another day on Wall Street, it seems. In October, following a series of debilitating credit downgrades and a steep drop in its stock price, commodities brokerage firm MF Global Holdings Ltd. declared bankruptcy.
3. Guide to the European Sovereign Debt Crisis
Given the many moving pieces, it can be difficult for investors to keep track of the various elements of the European sovereign debt crisis. Here then is a multipart guide for understanding the origins, causes, and unresolved issues of the ongoing economic emergency in the eurozone.
4. Country Risk: A Tale of Two Models
So far in 2011 we have witnessed renewed unrest in the Middle East and North Africa, an earthquake and nuclear disaster in Japan, and a debt crisis enveloping Europe. And the United States has not been immune to adversity either, as its own fiscal problems brought about a historic debt downgrade by Standard & Poor’s. But how do these events affect the performance of individual equity securities, particularly those of foreign or multinational firms?
5. Is the Mountain of Corporate Cash an Illusion?
With the global economy sputtering and employment growth still stagnating, the supposedly high cash levels accumulating on U.S. corporate balance sheets are drawing heightened attention — and plenty of criticism. But is that mountain of corporate cash real or an illusion?
