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A Case Study on ‘Satyam Scam’ Accounting Scandal: When the 2008 recession hit the world, India was not only going through a financial crisis but also an ethical crisis. The Satyam scam (Satyam computers scam) was finally exposed early in 2009. The date was later revised to 10th January 2009. 7000 crores.
That enabled me to look at the Five-Year Historical Data Pages, which gave me data series on important aspects of ATI’s business from 2009-2023. If you look at the graph at the top of this article, you will see how surplus declined 2009-2013. From 2009-2013, the implied expected loss plus LAE rate for new business was 81.2%.
And while Dalio has often promoted workplace ethics and “radical transparency” by making internal meetings available to the entire firm and encouraging employees to rank each other, the agreement under which he stepped down has been kept secret, with employees telling The New York Times that they could be sued by Bridgewater if they spoke publicly.
In 2009 Vijay Mallya once again bid successfully for the belongings of Mahatma Gandhi at US$ 1.8 In 2009 Kingfisher Airlines became the Indian market leader with a market share of 22.9%. Post the closure of Kingfisher the Serious Fraud Investigation Office (SFIO) found that serious corporate ethics were violated during the merger.
The RoIC has been above 20% for every year of the past two decades except once at the depths of the global financial crisis in 2009. There is also the gnarly issues on ethics and relative competitive risks – will all actors globally follow this ethical mindset?
And it restarted in, I wanna say March of 2009, but like onlya little bit. You were saying that you had a code of ethics, but then your CEO was sexually harassing people. And so I had the spreadsheet of every convertible bond deal that we or anyone else in the market did. And it stopped in like September of 2008.
It’s been eye-opening for a lot of the younger traders, younger investors who I know you go back to since 2009, they’ve only seen up markets. I mean, one of our first ETF was our China Consumer ETF that we launched in 2009. I think a lot of people were genuinely surprised by 2022. Wait, markets go down? RITHOLTZ: Wow.
And I also think that there is something to be said for, and I think it sounds cliche, but it is not just Thiswe Midwest ethics, Midwest work ethic and, and kind of the attitude, this bias towards integrity. So I need to visit an office, see, see a team, or, or give a, a presentation or see a client. I, you know, I can do it.
That led to the next three or four years of learning how to sell, how to create value, and not worry about selling out, but do it in a very ethical way. And I think that has been true since 2009 until now. There’s something qualitatively different about buyers and non-buyers. Do it my way.
Back in 2009 or maybe it was ’10, if you remember, hedge funds were largely short Lululemon. WEINSTEIN: Table stakes, good intellectual horsepower, work ethic, training, and a history of results. WEINSTEIN: So let me give you a little example. So let’s talk a little bit about the hunt for talent.
MCCARTHY: I’d back up actually a little bit further in thinking about how did I get there, because I don’t think it was very obvious actually that I would come out of Yale with an ethics, politics and economics degree — RITHOLTZ: Perfect really, right? MCCARTHY: — and end up in M&A on Wall Street.
Following the financial crisis and the Fed cutting rates, economy and the market starts recovering in late 2009 and then 2010 and we kept hearing from a lot of different value corners, hey, everything is richly priced. And then, most importantly, I do love his ethical antenna and his kind of truth-telling obsession that he has.
Since Kickstarter’s launch in 2009, 18 million people have backed projects. Look for freelancers with a strong work ethic who provide quality results. You can join Kickstarter to launch a project or to help back others’ projects. It’s never been easier to build a product and sell it online today.
Get ready for a ride as we examine it from all angles: regulatory, ethically, intellectually, etc. If we are comparing them to the Utopian idea of what a fraternity of ethics and competence testing should be, then we should find a way to implement it because daydreaming about what it ought to be is less useful.
On the other hand,… …I see the evidence as demonstrating that there are many, many exceedingly difficult questions, personal, moral, ethical, religious, economic, political, and otherwise. And today’s world seems chock-full of fundamentalists. Many are indeed fundamental. Who should I vote for? Where should I go to school?
Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. for the S&P® 500.
01:00:49 And, you know, ethically, it’s hard for us to generate that dramatic right. I, is there an aspect of that to those sorts of, of traders? 00:59:55 [Speaker Changed] Yeah, I think that’s a fantastic topic. And the, these are not, we’re not super stress testing. Of an event in the lab.
But there were a lot of other purveyors of watches that really were not super, super ethical folks. Squarespace, and I love those guys, they were really instrumental to the growth of Hodinkee, allowed me to design my own website in 2009 until probably 2012 or 2013, when we got a professional upgrade. CLYMER: That’s a good one.
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