You got to have debt
Reading about the recent take over of Credit Suisse by UBS and the collapse of Silicon Valley Bank (“SVB”) brought back memories to the time when I was doing some work for GE Commercial Finance (“GECF”), which was in the business of trade credit financing, which is better known as factoring. GECF were clear that their...
Operating a $18,000 a month bazaar
1. Someone complained that the rental of a stall for the Ramadan Bazaar is $18,000 a month, or $600 a day. 2. This is a high rental. The stall operators need to generate revenue of $600 a day just to cover the rental. There is also the cost of workers and the cost of the goods that are sold. 3. The high rental will have to be...
Expense ratios of sovereign wealth funds
I obtained these figures from ChatGPT. The ratio of management expense is about 0.06% of investment funds for Norway and Saudi Arabia. The ratios are much higher for GIC and Temasek, being 0.17% for GIC and 1.9% for Temasek. I do not know if these ratios are strictly comparable, but they appear to be high for GIC and excessively...
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