Author: Lorenzo Lacurre

The Catalan’s independence: who’s wrong and who’s right?

The Catalan’s independence: who’s wrong and who’s right?

On October 1st the autonomous Spanish region of Catalonia held a referendum on independence, despite fierce opposition from the central government, which said that the vote violated the Constitution. Hundreds of people were injured in clashes with the police during one of the gravest tests of Spain’s democracy since the end of the Francisco Franco's dictatorship … Continue reading The Catalan’s independence: who’s wrong and who’s right?

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Benjamin Graham

Benjamin Graham

Benjamin Graham (1894-1976) was a British-born American investor, economist and professor. He is generally known for being the author of two of the most famous and important financial books ever written, "Security Analysis", published in 1936 with the help of his colleague David Dodd, and "The Intelligent Investor", printed the first time in 1949. Moreover, … Continue reading Benjamin Graham

What is the NASDAQ?

What is the NASDAQ?

The NASDAQ is a global electronic financial market where securities are bought and sold. However, more often the term is associated with the NASDAQ Composite, a benchmark index which gathers more than 3000 stocks listed on the Exchange, including some of the world most famous technology and biotech firms, like Apple, Google or Amazon. This … Continue reading What is the NASDAQ?

Bernard Madoff

Bernard Madoff

Bernard Lawrence "Bernie" Madoff (1938-alive), usually simply known as Bernard Madoff, is an American fraudster and a former hedge fund manager and financier. He is famous for being the author of the greatest financial fraud of all times, the so-called Madoff Investment Scandal, happened in 2008 at the peak of the Great Recession. In the past, … Continue reading Bernard Madoff

Bernie Madoff and the greatest financial fraud of all times

Bernie Madoff and the greatest financial fraud of all times

Bernard "Bernie" Madoff was a well-respected hedge fund manager, founder of a successful investment company named Bernard L. Madoff Investment Securities, LLC and, for a period of time, Chairman of the NASDAQ. In 2008, at the peak of the Great Recession, Madoff admitted to his sons who worked with him at his firm that the company was … Continue reading Bernie Madoff and the greatest financial fraud of all times

What is a Lender of Last Resort?

What is a Lender of Last Resort?

A Lender of Last Resort (LLR) is an institution, usually a country's Central Bank (like the Federal Reserve in the United States), that offers loans to banks or other organizations that are having financial difficulties or that are near a collapse or a bankruptcy. Generally, LLRs borrow money to those companies or financial institutions whose … Continue reading What is a Lender of Last Resort?