The global market maelstrom spurred money managers to yank a record $17.4 billion from the mighty SPDR S&P 500 ETF over the past four trading sessions. The $8 billion removed on Tuesday alone was the third-largest daily withdrawal in the post-crisis era. The last time redemptions were close to
See Original Article

Here is a hilarious paper from Juliane Begenau of Stanford and Erik Stafford of Harvard called “Do Banks Have an Edge?” No, is their answer. You'd be better off just passively buying Treasuries than buying the complicated mix of stuff that banks actually own: We construct a simple buy-and-hold
See Original Article

German companies are unhappy about having to use the 6% discount rate for tax accounting, arguing it is out of touch with the reality of rates in the capital market. The disparity means that companies might have to apply the HGB's 3.68% discount rate to determine their pension liabilities, which in turn
See Original Article

While few may consider accountants to be on the cutting-edge of technology, that thinking is about to change. No longer will accountants and bookkeepers be categorized as bifocal, corduroy-wearing bean counters, but in the coming years the industry as a whole will play a significant role in driving the
See Original Article

SIFCO Industries, Inc. Names Thomas Kubera Chief Accounting Officer Cleveland–SIFCO Industries, Inc. (NYSE American: SIF) today announced that it has named Thomas Kubera as its Chief Accounting…
See Original Article