Global financial crisis is deepening. However, this crisis shall pass just like any other crisis in the past. The question is how deep and how long. The current global bear market and recession this time appear to be a painfully long-one and very close-relative to US recession in 1930s. As such, investors and business people should be patience and use their common-sense. What people should consider nowadays...

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Prudent investors nowadays are increasingly perplexed with the size of Credit Default Swap Market (~$60 trillion notional market size - four times the size of the U.S. debt!) and the fact that it is so far still unregulated by US government. Government officials apparently do not have clear understanding on how the credit default swap works and the level of systemic risks and cascading effects of a failing unregulated phantom market. To start regulating the market now is perhaps too late. The credit market has been collapsing; and in particular, credit default swap market is very prone to major irreversible systemic collapse that could potentially bring down many financial institutions globally.

Here is a video from CBS: A Look At Wall Street's Shadow Market. In this video, Steve Kroft, CBS correspondent, looks at some of the arcane Wall Street financial instruments that have magnified the economic crisis. He discussed the phantom credit default swap market with Jim Grant, the editor of "Grant's Interest Rate Observer" and Frank Partnoy, a former derivatives broker and corporate securities attorney, who now teaches law at the University of San Diego.

Source: CBS

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The Snowball: Warren Buffett and the Business of Life By Alice Schroeder Alice Schroeder's book has been eagerly anticipated because it is the first one Warren Buffett has cooperated with. The book delves deep into Mr. Buffett's personal life as well as his business record to show what's behind his ideas and principles. This highly anticipated book debuted Monday. Alice also will also release a series of eight online videos starting Monday which will offer a glimpse into billionaire Warren Buffett's life in Omaha. A new video will be posted each week until Nov. 18 on http://www.youtube.com/thesnowballbook. CLICK HERE TO ORDER THE BOOK.

"Our favorite holding period is forever." ~ Warren Buffett

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To understand the modern world of investing, risk management, and collisions between certain economic forces globally, listen to the following exclusive interview video of Mohamed El-Erian, co-CEO of PIMCO with Charlies Rose in July 24, 2008:

Source: Charlie Rose

"There are times, as they say, when you worry about the return on your capital, and there are times when you worry about the return of your capital. These days you should worry about the return of your capital." ~ Mohamed El-Erian

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Founding father of modern Singapore and the Minister Mentor Mr. Lee Kuan Yew talks in this interview video with Bloomberg in May 2008 about the objectives of Singapore's Govt. of Singapore Investment Corp (GIC) or more commonly called 'Temasek':
- Transparency is not necessarily a good thing for Temasek in order to reduce people's expectations and to prevent people speculating what GIC moves will be next.
- GIC (Temasek) is long-term investor with at least 5-10 years investment horizon.
- Temasek invests in distressed assets for the long-term.

Source: IRTAGMedia, Bloomberg, YouTube

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I.O.U.S.A.: Live with Warren Buffett, Pete Peterson & Dave Walker in an exclusive one night event in select movie theatres nationwide. This event will include the critically-acclaimed documentary, I.O.U.S.A., and a LIVE discussion about America's economic crisis and what we can do to change course. 

(Sources: iousathemovie.com and FathomEvents.com)

Event date: August 21 , 2008 - Exclusive In-Theatre Event

The live discussion with America's most notable financial leaders and policy experts, including Warren Buffett, CEO of Berkshire Hathaway; William Niskanen, chairman of the CATO Institute; Bill Novelli, CEO of AARP; Pete Peterson, senior chairman of The Blackstone Group and chairman of the Peter G. Peterson Foundation; and Dave Walker, president & CEO of the Peter G. Peterson Foundation and former U.S. Comptroller General, promises riveting dialogue and keen insight into the crisis we currently face.

I.O.U.S.A. Movie Trailer

For more detail on this exclusive movie event and bonus movie reels, please click the title of this blog entry.

Share and forward this movie event to your friends and colleagues. I.O.U.S.A.: Live with Warren Buffett, Pete Peterson & Dave Walker is unprecedented and very timely movie for the current US economic condition that you do not want to miss!

"Chains of habit are too light to be felt until they are too heavy to be broken." ~ Warren E. Buffett

 

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Video of George Soros, Chairman, Soros Fund Management LLC; Author, The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means speaking at the Council on Foreign Relations on May 7, 2008 discussing the credit crunch. Presider: Sebastian Mallaby, Deputy Director of Studies, Director of the Maurice R. Greenberg Center for Geoeconomic Studies, and Paul A. Volcker Senior Fellow for International Economics, Council on Foreign Relations.

 

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Some billionaires like to blog and write articles on their official sites. Here is list of multi-billionaires sites or blogs.

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Here is recent Charlie Rose interview on April 10, 2008 where George Soros , the global speculator and hedge fund manager, discusses his latest book The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means. Soros talks about the current financial crisis and its impact on America's position in the world, as well as how these problems are the result of a flawed paradigm.

Video of the interview can also be viewed here.

For more great books authored or related to George Soros, click the title of this blog entry.

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This is the chance of a lifetime to experience first hand the one-and-only Warren Buffett. As CEO of Berkshire Hathaway, Mr. Buffett is the world's greatest investor and the richest person in the world (according to Forbes in March 2008). He is famed for his strikingly successful investment strategies and is as well known for his personal integrity as his business savvy. He is, quite simply, a legend, and he will sit down with you and up to seven of your friends for lunch.

Mr. Buffett will dine with the winning bidder and up to seven friends at Smith and Wollensky in New York, which has been called “the steakhouse to end all arguments” by The New York Times. A mutually agreed upon date and time for the lunch will be selected by Mr. Buffett and the winning bidder.  100% Benefits the Glide Foundation & it's Many Services.

All bidders must pre-qualify. The opening bid is $25,000. This package does not include any items, services, travel or accommodations that are not detailed in the above description.

Click here to go to Warren Buffett Power Lunch auction (the lunch is auctioned on eBay).

Background: Who is Warren Buffett? For more detail, please click the title of this blog entry.

"If you're in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent."
~ Warren Buffett

UndervaluedSecurities.com - Be a better investor!

 

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