Craven Haven

On Wednesday night, Switzerland became toast. Not in the physical sense, of course. The glaciers, snow-capped mountains and ski slopes are still there, the dairy sector is still making chocolate, while the giant factories along the Rhine churn out chemicals and pharmaceuticals. But the banking industry, the heart of the country’s economy, has just been neutered. Switzerland, as an “offshore” […]

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When ‘fund’ becomes a four letter word

The previous blog focused on how so many supposedly smart people and famous names from among the professional investment community could have been taken for a ride by Bernie Madoff’s scam. The inescapable conclusion was that they were guilty of either stupidity, or incompetence, probably mixed up with a good dash of either arrogance or laziness. These sterling qualities, rather […]

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