Category: Business

Insider Trading

The U.S. stock market is the world’s largest casino, except in this particular gambling den players don’t know the odds on their wagers. They just bet and hope. There’s very little correlation between a company’s real value and its stock price or between its earnings and its stock price. If there were, anyone could safely...

Kroc’s Great Gift

Joan Kroc, the widow of Ray Kroc, founder of the American dining institution MacDonald’s, died a very rich woman. Thanks to sales of Big Macs, deep-fried potatoes, and colored corn syrup in water, she was, in fact, a multi-billionaire. Upon her death last year, Kroc’s executors were pleased to announce that the fast-food heir had...

Against Charity

Giving to the needy is supposed to be a virtue. Indeed, it’s once of the sacraments of most religions. In our venal world, being charitable — sharing with those who don’t have what you have — is akin to secular holiness. How much someone gives to charity is a powerful if imprecise barometer of how...