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Eliot Spitzer also endorses index fund

Reading Time: < 1 minute

Hmm, interesting. Note Eliot is not licensed financial advisor. But many investing gurus (including Warren Buffett, John Bogle, Yale endowment fund head David Swensen) said index is the way to go for individual investors who don’t have time or don’t want to spend time to do own research.

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Business

Greed: from Enron to Sub-prime fiasco

Reading Time: 2 minutes

(Update) I started this article a few months ago. Just as I complete it today, I heard the Elliot Spitzer’s scandal (possibly criminal prosecution) regarding his involvement in prostitution ring. How ironic. I hope people don’t discount Elliot’s relentless effort to clean up the Street, no matter what comes out of his case.

(Original) When the Enron scandal surfaced in Summer 2002, I just started to learn about US stock market. But I vaguely remember many other companies such as Worldcom, Tyco also exposed their problems later on. The CEOs of those companies are all prosecuted, and corporate governence of US companies are much improved since then. The congress scrambled to come up with the Sabane-Oxly Act, which helped to make the corporate accounting books more accurately reflect the reality of companies well-beings, and strengthen the investors confidence.