TagInvestment Banking

I bought a 50 lbs. bag of rice at Sam’s six months ago for $20. I know, that’s a lot of rice. But it was cheap! This week, I was shopping at Sam’s again and saw the same rice product, priced at $26 per bag. That’s 30% inflation over 6 months! How does this square with the reported 12-month Consumer Price Index inflation rate of 6.0% (9.5% for food)? See chart below. I discussed this, in part, in...

Let’s say you’re an investment banker or work in private equity and you get invited to a cocktail party. While there, you get the dreaded question, “What do you do for a living?” (because very few people outside New York understand what investment bankers do). Although I worked as an investment banker for Bear Stearns in London (back when that was still a firm), I’m pretty sure my own...