Föhrenbergkreis Finanzwirtschaft

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Archive for 5. August 2018

How Your Brokers Can Make 10 Times More on Your Cash Than You Do

Posted by hkarner - 5. August 2018

Date: 04-08-2018
Source: The Wall Street Journal By Jason Zweig

It pays to pay attention to what your brokerage is doing with your cash

When some investment firms say they will treat your money as if it were their own, they mean it — all too well.

If the Securities and Exchange Commission wants to make good on its promise to compel brokers to act in their customers’ best interest, it should shine a klieg light on how brokers treat investors’ cash.

Investors invest, but of course they leave billions in cash in brokerage accounts, too.

At Morgan Stanley, $6.3 billion of that cash is in a money-market mutual fund yielding 1.8%. On Aug. 13, the firm will shut that fund and sweep its clients’ idle cash into bank accounts that, after a transition period, could yield much less. Den Rest des Beitrags lesen »

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Intolerance Threatens Liberalism

Posted by hkarner - 5. August 2018

Date: 04-08-2018
Source: YaleGlobal by Rudrangshu Mukherjee

Liberalism – and the values of liberty, equality, individual dignity, tolerance, and freedom from bigotry and extremism – are under siege around much of the world, including the world’s largest democracy. India inherited an appreciation for liberal values as a result of British colonialism, underscoring the paradox that a system aspiring for ideals cannot rest in assessing and accepting improvement. “Liberalism even today has not quite eradicated the stain of this contradiction,” writes Rudrangshu Mukherjee, author, chancellor and professor of History at Ashoka University. “People who differ in color of skin, culture, language, religion and so on are often not allowed to be beneficiaries of liberal virtues by political regimes that claim to be liberal and democratic.” India embraced liberal principles in its pursuit of independence, and Mukherjee briefly describes this history. Liberalism is under threat by the powerful who resist dissent, and he questions whether the political system can endure while tolerating incessant intolerance.

Liberal democracy is under siege in India and elsewhere – proponents must distinguish between the right to dissent and intolerance

Violent face of liberalism: Low-caste minorities in India in the aftermath of communal violence, and Indians mutinied against the illiberal British raj in 1857

NEW DELHI:  Liberalism is under siege in India. Violence against minority communities, repression of dissent and growing political intolerance raise questions about sustaining liberalism that was introduced in India by British colonialism wielding the gun. With liberalism on the dock in many places, it is time to raise a few issues concerning liberalism, its birthmarks and its dilemmas. While emergence of illiberalism in many liberal societies comes as a shock, history shows that from the start illiberalism was very much a part of liberal drive. Den Rest des Beitrags lesen »

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Europas Banken sitzen auf 813 Mrd. Euro an faulen Krediten

Posted by hkarner - 5. August 2018

Es drohe „Ansteckungsgefahr“ für das europäische Bankensystem, zitiert die „Bild“ einen Bericht des deutschen Finanzministeriums. Besonders Griechenland, Zypern und Italien seien betroffen.

Vor allem in den Bilanzen südeuropäischer Banken sind die faulen Kredite zu finden.

Die Europäische Bankenaufsicht schätzt einem Medienbericht zufolge die Summe der Problem-Kredite in den Bilanzen europäischer Banken zehn Jahre nach der Finanzkrise auf 813 Milliarden Euro. Das berichtete „Bild“ am Samstag mit Verweis auf eine Antwort des deutschen Finanzministeriums auf eine Frage der FDP-Fraktion im Bundestag.

Der Umfang dieser Kredite sei „im historischen Vergleich hoch“, schreiben die Beamten demnach. Es drohten Schwierigkeiten für einzelne Banken und eine „Ansteckungsgefahr“ für das europäische Banken-System. Genau wie vor zehn Jahren sei ein Großteil der faulen Kredite „im Immobilienbereich zu verorten“, berichtete das Blatt weiter. Den Rest des Beitrags lesen »

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Should Artificial Intelligence Copy the Human Brain?

Posted by hkarner - 5. August 2018

Date: 04-08-2018
Source: The Wall Street Journal By Christopher Mims

The biggest breakthrough in AI, deep learning, has hit a wall, and a debate is raging about how to get to the next level

Should Artificial Intelligence Copy the Human Brain?

Everything we’re injecting artificial intelligence into—self-driving vehicles, robot doctors, the social-credit scores of more than a billion Chinese citizens and more—hinges on a debate about how to make AI do things it can’t, at present. What was once merely an academic concern now has consequence for billions of dollars’ worth of talent and infrastructure and, you know, the future of the human race.

That debate comes down to whether or not the current approaches to building AI are enough. With a few tweaks and the application of enough brute computational force, will the technology we have now be capable of true “intelligence,” in the sense we imagine it exists in an animal or a human?

On one side of this debate are the proponents of “deep learning”—an approach that, since a landmark paper in 2012 by a trio of researchers at the University of Toronto, has exploded in popularity. While far from the only approach to artificial intelligence, it has demonstrated abilities beyond what previous AI tech could accomplish.

The “deep” in “deep learning” refers to the number of layers of artificial neurons in a network of them. As in their biological equivalents, artificial nervous systems with more layers of neurons are capable of more sophisticated kinds of learning. Den Rest des Beitrags lesen »

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