432 Park Avenue in Manhattan stands 426 metres tall, spans 93 structural stories, and contains 104 luxury residences. In 2016, its top penthouse sold for USD $87.7 million. At the time, it was the most expensive apartment ever sold in the United States. The tower is visible from most
In 2014, Apple Inc. routed a significant portion of its international profits through an Irish structure that paid tax at an effective rate of around 0.005 percent. Not 0.5. Not 5. Five one-thousandths of a percent. For perspective, imagine earning $100,000 in a year and sending
You can trade futures on frozen orange juice, feeder cattle, soybeans, rough rice, lean hogs, live cattle, lumber, coffee, sugar, platinum, ethanol, and natural gas. But there is one humble, fragrant exception. The onion. The only statute in U.S. derivatives law that prohibits futures trading in a specific commodity,
In the grand theatre that is finance, we cling to consensus as if it were a life-raft in stormy seas. Nobody wants to be wrong alone. Nobody gets mocked for following the herd off the edge of the cliff. But herds just move. Someone starts running and everyone runs.