January 31, 2019
Once in Golconda by acclaimed financial reporter John Brooks chronicles the market events leading up to the 1929 crash and its aftermath. Golconda was a term used in the late 1880s to describe great wealth. The use of the word is a reference to Golkonda, a medieval fort in Southern India, home to some of the world’s most productive diamond mines. In fact, it’s where the Hope Diamond was discovered. Indian folklore refers to the city as a mythical place where everyone who passes through acquires wealth.
A confluence of factors has made 2018 a critical year for corporations seeking to de-risk sponsored defined benefit pension plans. Rising equity markets and higher interest rates have improved funded status across the universe of U.S. corporate plans, while sharply higher variable Pension Benefit Guaranty Corporation premiums have made the costs of carrying unfunded pension liabilities far less economical.
December 30, 2018
While holiday songs suggest that there’s a naughty and nice list imploring us to be good for goodness sake, we mostly take for granted a Christmas visit from Santa Claus. Stock traders too are hopeful this time of year for the gift of early December performance to help boost their annual returns.