01 January 2009

Closing the Books on the First Year at Le Café Américain


Opened for business in December 2007, and added a statistical counter in the beginning of February 2008.



This seems to be the 'run rate.'



Thanks for stopping by throughout the year, and a special thanks for those who were kind enough to drop a note to say 'hello.' It is always good to make your acquaintance.


31 December 2008

2008 Was the Third Worst Year for US Stocks Since 1896


1931 was the worst, but notice that 1930 was not far behind.


Ten Things We Might Expect to See in 2009






















Madoffed: Dr. Doom of Solly's Heyday


Economist may be latest hurt in Madoff scheme
Wed Dec 31, 2008 6:05am GMT

(Reuters) - A prominent Wall Street economist... the latest people to have lost money on investments connected to accused swindler Bernard Madoff, according to media reports.

Economist Henry Kaufman lost several million dollars, which he had in a brokerage account with Bernard L. Madoff Investment Securities for more than five years, the Wall Street Journal said, citing Kaufman in an interview on Tuesday.

The president of financial consulting firm Henry Kaufman & Co said his Madoff loss was no more than a couple of percent of his entire net worth and immaterial to his financial well-being, the paper said.

Kaufman became known for correctly forecasting higher inflation and interest rates when he was chief economist with Salomon Brothers in the 1970s and 1980s, when he acquired the moniker "Doctor Doom."