Any sudden and tangible (negative) change in a borrower’s credit standing or decline in credit rating. A credit event brings into question the borrower’s ability to repay its debt. It is the defining trigger in a credit derivative contract, or credit default swap. If the borrower experiences a credit event, then the buyer of the contract must pay the seller an agreed-upon sum to cover the loss.
Posted in B-School
Forget rappers or athletes. None make the list. Forget just America this list goes global. After all the African Diaspora represents approximately 1.2 billion people of African descent no matter where we are in the world. Just because we left home (or were taken) we are still sons and daughters of Mother Africa.
Initially, this list was supposed to be a top 10 as we assumed with a record 1,226 billionaires found this year through our source we surely expected to need a cutoff point. Couple that with the motherland being the richest natural source on the planet we thought we would unquestionably be well represented on the list. Unfortunately, we as often seems to be the case more times than not others are benefiting more from our contributions than we are because we rarely own or control the vehicles of which wealth is created. So the five you see listed below is actually all there was. It works out to us making up an abysmal 0.41% of the entire list despite us comprising 17.6% of the world’s population. There truly is work to be done.
1 – Aliko Dangote (pictured above)
Net Worth: $11.2 billion Residence: Nigeria
Industry: Sugar, Flour, Cement
2 – Ananda Krishnan
Net Worth: $9.9 billion Residence: Malaysia
Industry: Telcom
3 – Mike Adenuga
Net Worth: $4.3 billion Residence: Nigeria
Industry: Telcom, Banking, Oil
4 – Patrice Motsepe*
Net Worth: $2.7 billion Residence: South Africa
Industry: Mining
5 – Oprah Winfrey*
Net Worth: $2.7 billion Residence: United States
Industry: Television
*HBCU Alumnus
Source: Forbes
A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations of $1,000 up to a maximum purchase of $5 million and commonly have maturities of one month (four weeks), three months (13 weeks) or six months (26 weeks).
T-bills are issued through a competitive bidding process at a discount from par, which means that rather than paying fixed interest payments like conventional bonds, the appreciation of the bond provides the return to the holder.
Posted in B-School
With the collapse of the Soviet Union, the fall of the Berlin Wall, and the deregulation of international financial markets in 1989, governments and entrepreneurs alike became intoxicated by dreams of newly opened markets. But no one could have foreseen that the greatest success story to arise from these events would be the worldwide rise of organized crime. Today, it is estimated that illegal trade accounts for one-fifth of the global GDP.
In this fearless and wholly authoritative investigation of the seemingly insatiable demand for illegal wares, veteran reporter Misha Glenny travels across five continents to speak with participants from every level of the global underworld—police, victims, politicians, and even the criminals themselves. What follows is a groundbreaking, propulsive look at an unprecedented phenomenon from a savvy, street-wise guide.
Posted in Books
For the most part, hedge funds (unlike mutual funds) are unregulated because they cater to sophisticated investors. In the U.S., laws require that the majority of investors in the fund be accredited. That is, they must earn a minimum amount of money annually and have a net worth of more than $1 million, along with a significant amount of investment knowledge. You can think of hedge funds as mutual funds for the super rich. They are similar to mutual funds in that investments are pooled and professionally managed, but differ in that the fund has far more flexibility in its investment strategies.
It is important to note that hedging is actually the practice of attempting to reduce risk, but the goal of most hedge funds is to maximize return on investment. The name is mostly historical, as the first hedge funds tried to hedge against the downside risk of a bear market by shorting the market (mutual funds generally can’t enter into short positions as one of their primary goals). Nowadays, hedge funds use dozens of different strategies, so it isn’t accurate to say that hedge funds just “hedge risk”. In fact, because hedge fund managers make speculative investments, these funds can carry more risk than the overall market.
Posted in B-School
HBCU Money 