Takeaways from the Berkshire Hathaway AGM 2014 and the Pearl River Delta (PRD) Trip

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“Bamboo Innovators bend, not break, even in the most terrifying storm that would snap the mighty resisting oak tree. It survives, therefore it conquers.”

BAMBOO LETTER UPDATE | May 19, 2014
Bamboo Innovator Insight (Issue 34)
 

Dear Friends and All,

 

Takeaways from the Berkshire Hathaway AGM 2014 and the Pearl River Delta (PRD) Trip

 

Q: “How does management factor into valuing intrinsic value?”

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History of Law and Economics

History of Law and Economics

Martin Gelter 

Fordham University School of Law; European Corporate Governance Institute (ECGI)

Kristoffel R. Grechenig 

Max-Planck-Institute for Research on Collective Goods
April 1, 2014
MPI Collective Goods Preprint, No. 2014/5

Abstract: 
The roots of law & economics lie in late 19th century continental Europe. However, this early movement did not persist, having been cut off in the 1930s. After World War II, modern law & economics was (re-)invented in the United States and subsequently grew into a major field of research at U.S. law schools. In continental Europe, law & economics was re-imported as a discipline within economics, driven by economists interested in legal issues rather than by legal scholars. Hence, the European discourse was more strongly influenced by formal analysis, using mathematical models. Today, research in the U.S., Europe, and in other countries around the world, including Latin America and Asia, uses formal, empirical, and intuitive methods. New subfields, such as behavioral law & economics and experimental law & economics, have grown in the U.S. and in Europe during the past two decades.

Overvaluing the ‘Undervalued’ View of the Yuan; The Chinese currency has no real ‘equilibrium value,’ even if Treasury wishes it did

Overvaluing the ‘Undervalued’ View of the Yuan

The Chinese currency has no real ‘equilibrium value,’ even if Treasury wishes it did.

MARK A. DEWEAVER

May 11, 2014 5:38 p.m. ET

Since Jan. 1 the yuan has fallen 2.9% against the dollar, reversing the Chinese currency’s 2.9% appreciation in 2013. Such a dip would be a small fluctuation for a freely traded currency, but it’s a big drop in China. The yuan hasn’t fallen so much or for so long since July 2005, when Beijing introduced what it calls “a managed floating exchange rate based on market supply and demand with reference to a basket of currencies.” Read more of this post

Chinese tycoon Liu Han testified in court that he owed a chunk of his fortune to deal-making with government officials more than a decade ago, shedding light on a corruption probe that has roiled the highest echelons of power in China.

Tycoon Liu Han Testifies on Past State-Brokered Deals in Sichuan Province

Transcript Offers Rare Look at How Investments Were Allegedly Structured

JAMES T. AREDDY

May 8, 2014 12:24 p.m. ET

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Don’t Be Evil.or Creepy: Earning-and Keeping-Trust in a Transparent World

May 12, 2014, 11:01 AM ET

Don’t Be Evil…or Creepy: Earning—and Keeping—Trust in a Transparent World

By Malcolm Frank,

Our world is rapidly digitizing, creating new economic opportunity and redefining the boundaries of privacy. Read more of this post

What’s in a Name? The Art of Addressing Chinese Officials

May 12, 2014

What’s in a Name? The Art of Addressing Chinese Officials

By Yiyi Lu

Long gone are the good old days when everyone simply called one another “comrade,” and no other titles were necessary. Read more of this post

Why Banks at Wal-Mart Are Among America’s Top Fee Collectors; Branches Woo Customers Other Banks Spurned; Racking Up Overdrafts

Why Banks at Wal-Mart Are Among America’s Top Fee Collectors

Branches Woo Customers Other Banks Spurned; Racking Up Overdrafts

MARK MAREMONT and TOM MCGINTY

May 11, 2014 10:38 p.m. ET

Banks that operate inside Wal-Marts reap among the highest fees from customers of any banks in the nation, according to a WSJ analysis. Mark Maremont reports. Photo: Getty.

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