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A Case Study on ‘Satyam Scam’ Accounting Scandal: When the 2008 recession hit the world, India was not only going through a financial crisis but also an ethical crisis. The Satyam scam (Satyam computers scam) was finally exposed early in 2009. The date was later revised to 10th January 2009. 7000 crores.
00:14:50 [Speaker Changed] Yeah, it was about the middle of 2009. And then as we got into 2009, companies were starting to sort out, you know, where they were. And that’s, and it was about mid 2009 where ING decided to take, take the state aid. So 2008, you know, as you remember, Barry fourth quarter was chaotic.
And while Dalio has often promoted workplace ethics and “radical transparency” by making internal meetings available to the entire firm and encouraging employees to rank each other, the agreement under which he stepped down has been kept secret, with employees telling The New York Times that they could be sued by Bridgewater if they spoke publicly.
And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. I was employee number 10. RITHOLTZ: Which is really a pretty big number. billion dollars in AUM.
That led to the next three or four years of learning how to sell, how to create value, and not worry about selling out, but do it in a very ethical way. And I think that has been true since 2009 until now. And they do that for 35 years tweaking numbers I go you won, you won the game. Number two is travel. Do it my way.
However, there is an important nuance in that more players have exited than the limited number who entered over time due to high barriers to entry and exit. The RoIC has been above 20% for every year of the past two decades except once at the depths of the global financial crisis in 2009. Recently governments in the U.S.,
And it restarted in, I wanna say March of 2009, but like onlya little bit. You were saying that you had a code of ethics, but then your CEO was sexually harassing people. Like that solves like a number of issues. And so I had the spreadsheet of every convertible bond deal that we or anyone else in the market did.
Following the financial crisis and the Fed cutting rates, economy and the market starts recovering in late 2009 and then 2010 and we kept hearing from a lot of different value corners, hey, everything is richly priced. And then, most importantly, I do love his ethical antenna and his kind of truth-telling obsession that he has.
The term “turnkey” means the numbers have been crunched, the home may have been rehabbed, and may already include tenants! Since Kickstarter’s launch in 2009, 18 million people have backed projects. Look for freelancers with a strong work ethic who provide quality results. All you, as the investor, have to do is put up the cash.
And number two, it may interest you to know, here are four or five different funds in the same situation. These are big numbers. Back in 2009 or maybe it was ’10, if you remember, hedge funds were largely short Lululemon. And I realized I have his home number. RITHOLTZ: Wow. ” RITHOLTZ: Right. RITHOLTZ: Sure.
And I also think that there is something to be said for, and I think it sounds cliche, but it is not just Thiswe Midwest ethics, Midwest work ethic and, and kind of the attitude, this bias towards integrity. And we were number one on that list. They are Fidelity, they’ve still got the same account number.
MCCARTHY: I’d back up actually a little bit further in thinking about how did I get there, because I don’t think it was very obvious actually that I would come out of Yale with an ethics, politics and economics degree — RITHOLTZ: Perfect really, right? MCCARTHY: — and end up in M&A on Wall Street.
It was launched in 2009 to celebrate players who have made a huge impact on international cricket. Sunil Gavaskar (Inducted in 2009) Role : Opening Batsmen Played from : 1971 to 1987 Highlights Became the first cricketer to surpass 10,000 runs in Test cricket. A fighter and team leader known for his discipline and work ethic.
Get ready for a ride as we examine it from all angles: regulatory, ethically, intellectually, etc. If we are comparing them to the Utopian idea of what a fraternity of ethics and competence testing should be, then we should find a way to implement it because daydreaming about what it ought to be is less useful.
But there were a lot of other purveyors of watches that really were not super, super ethical folks. FOWLER: Yes, I was at LVMH for a number of years, mostly with Louis Vuitton for the first few years. The number one response every single time to this day is for Hodinkee to sell things because they trust us. FOWLER: Yes.
Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. for the S&P® 500.
Behavioral finance has a number of fathers, including Dick Thor and, and Danny Kahneman. And number theory was just too mind blowing, you know, for me. 00:13:17 [Speaker Changed] So you can often get numbers that are up to more than a hundred percent, you know? For number one, it’s not that big of a tell.
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