Like every other investment, this one is probably over prices and won’t beat the index in the long run. But so what? Even if it’s value goes to zero, you can still drink it: Most wines around the world go on sale only after they are bottled. But in Bordeaux the process starts far earlier. [...]

Remember all the criticism Enron took over doing just this (after getting permission from the SEC by the way)? Now the Bank of England is encouraging it: While market-based estimates and the write-downs announced by firms may be unduly pessimistic, if such concerns persist there is a risk they could become self-fulfilling. [...] In that [...]

From Gartman: We argue that there are plenty of countries around the world that prove the superiority of flax taxes, citing the huge revenue growth in eastern Europe where it is a race amongst the countries there to flatten and lower tax rates with abandon. But now we learn that the smaller, less populated, and [...]

Soon private investors will be able to buy stakes in law firms in the UK. While not as broad as Australia’s rules, which allow for publicly traded law firms, it could be an initial step down in that direction. Besides cashing out their shares why would any law firm want to go public? This Bloomberg [...]