Abundance, Generosity and Friendship

 

“Show me who a woman’s friends are and I will tell you who she is.” – Ralph Waldo Emerson
Last night some of the people I love most in this world had a “leaving but not going away” party for me. It truly was one of the most special evenings of my life. I awoke this morning feeling so incredibly blessed and so moved to continue to try to do all I can to make the world a better place.
Friends. The people you choose and the people who choose you. When I looked around the room last night and rested on each of these amazing women’s faces I thought how lucky am I to have these people in my life. The common denominator? They all use their time, treasure and talent to better the lives of others in such a generous and loving way. Ladies you know who you are, you know how much I love you and I ask yet another thing of all of you – please continue to help me be the best person I can be and expect a lot of me, as heaven knows I do not want to disappoint any one of you. Thank you for all you are, all you do, and for giving me the greatest gift we can give each other, love.

Latest News – Some Facts and Figures to Digest

I spent 10 hours on the soccer field yesterday and in between my daughter’s games I had a chance to at least skim the stack of papers I had not had a chance to read this week. ( moving, injury… long story) There are about 100 topics I would like to link to, comment on, write-about ……. not going to happen. BUT… I did jot down some facts that I want to share that get behind some of these key issues affecting the markets and the economy. Food for thought…
– The losses or injections of gov’t money in to Fannie and Freddie is already $145 billion. Double the profit of the last 35 years.
– According to MBS 9.38% of ALL LOANS outstanding are delinquent as of Q1.
– US inflation year 4 year lows ( as it is reported by the gov’t)
– A NY Police Officer retired at 44 having had a base pay of $74,000 yr and now gets $101,333 a yr for life, retired. ( NYT)
– Our National Household New Worth – $54 trillion ( 18% less then summer 2007) – NYT
– The Median Retirement Account Balance for Heads of Households ages 55-60 – $80,000 NYT
– The Median Annual Salary for Full-Time Workers with a 4 yr College Degree $55,656 (2008) NYT
-$140.5 billion – Net Foreign purchases of long-term US securities, minus open market buys in March. ( Barrons)
– US Reform Bill Clears Senate Hurdle this week
– Surprising jump in US jobless claims
– Germany surprises the market by banning naked short selling on certain instruments
– Bangkok burns and Thai protests spread after a crackdown
– Credit Spreads widening from post crisis tights
– Lots of news about the state and local budget problems – LOTS. “The Center on Budget and Policy Priorities estimates that this coming year alone states will face an aggregate shortfall of $180 billion. In some states the gap is more then 30%.” (WSJ)
– The Hedge Fund dudes head to Washington to lobby against an increase in carried interest profits from the cap gains rate to ordinary income rates.
– Cost of going to Georgetown University next year – $53,006 (WSJ)
– Seth Klarman – legendary investor – Baupost Group – “More Worried then Ever.” ( WSJ)
– Default rate on credit card loans 9.14% – highest rate since index began to be calculated in 2004.
– Oliver Stone’s sequel to Wall Street debuts at Cannes Film Festival.
Markets
– S & P – 1087 week down 4.23% ytd down 2.46% 52 week up 22.63%
– 10 yr treasuries 3.2%
– limber down 30% over the past month
– Asian Markets lowest level in 9 months
– Canada/US dollar out to $1.07 after almost hitting parity again
– GE drops $5.8% – $16.26 share (thurs)
– Euro down 17% versus US Dollar since December
-Nikkei 225 Average closes below 10,000 for first time since Feb. (down 6.48% on week)
Off to pack…

Top Ten Risks for the Global Economy ( GS 2005 )

 

I am in the process of packing up our home for a big move out West and coming across some interesting things while doing it! In 2005 I attended a conference at Goldman Sachs entitled “The Top 10 Risks in the Global Economy.” The speakers included heads of states, economists, investment managers and more. All these challenges continue to be extremely relevant today!

Here is what they were. ( again 2005)

1) Hedge Funds and Derivatives
2) World Oil Supply
3) Wealth Disparities in Emerging Nations
4) Global Regulatory Challenges to Economic Growth
5) Opportunities and Challenges For Growth in China
6) Trade Liberalization
7) Environmental Accords
8) Geopolitical Conflicts
9) Global Terrorism
10)World Health Conditions
There is so much to write about, so so much… but the packing boxes are calling my name !!