My latest for AlphaBaskets looks at Jorge Posada’s financial troubles from having made what turned out to be bad investments. There is nothing new about this story, it is simply unfortunate and unnecessary. From the post;
Add Yankee great, Jorge Posada to the long list of names of professional athletes who have been done in by their investment advisors. There are of course several accounts of this around the web but according to the NY Post he lost millions on a real estate deal and in a hedge fund run by his advisors.
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Also the Weekly Market Update is posted and includes;
Related to oil, Russia had an arguably wilder week. The Russian currency, the ruble, has been losing ground against the dollar all year, giving up about half its value. The selling has accelerated in the wake of the crash in oil prices so overnight Tuesday the Russian central bank raised rates from 10.5% to 17% to try to stem the selling which promptly sent the USDRUB from 66 up to 76
Please click through to read the entire update.