Word: cashes
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...modern way of burying a treasure chest of cash, banking experts say, is to have your own bank that is funded by nameless wire transfers to Switzerland, the Caymans, Liechtenstein. It's still unclear as to whether Madoff had his own bank, but there is always the ever popular method of hidden safes and multiple, anonymously managed safety-deposit boxes loaded with cash, or even better, "bearer bonds," an old-fashioned but effective tool that is as good as cash and can be presented to banks by anyone bearing them - no questions asked. Today they are used frequently in Central...
...Mail deliveries, like hemlines, always drop in economic downturns. But the current pinch is worse than usual. One reason: the housing and financial sectors were once gold-star postal customers, but since their cash flows have slowed to a trickle, their direct-mail marketing campaigns have all but dried up. Mortgage direct mailings declined 57% from the first quarter of 2007 to the first quarter of 2008, according to the Chicago-based mail and advertising tracker Mintel Comperemedia. And credit card offers by mail sagged 28% from the third quarter of 2007 to the third quarter of 2008, dropping...
...determine the nature of a "legitimate medical purpose" for controlled drugs and could choose to interpret cognitive enhancement as "medical.") Students usually get stimulants from friends or family who have legitimate prescriptions, which is illegal. In any case, one can't access the drugs without some amount of expendable cash, which raises the concern that they are available only to the wealthy...
...heart of the difference is the distinction between realized and unrealized gains. Gains are realized when assets are liquidated to cash. For instance, if you buy a stock for $100 and it is currently trading at $200, you have made $100 in unrealized gains. If you sell it at $200, you have made $100 in realized gains. Most hedge funds do not regularly liquidate their entire portfolio, so they report unrealized gains to their investors and to the public. (See the top 10 scandals...
...there could be a little Ponzi scheme in every hedge fund. It is inherent to the model of the modern hedge fund. The only way to avoid these schemes is to regularly liquidate all assets and allow all investors to decide what to do with their cash returns. In the past, this would have meant seemingly diminished returns. With returns seemingly high, investors did not complain about the status quo. Now, given that regular liquidation would mean more transparency and diminished losses, in recent days investors' opinions would likely differ...