Alan Greenspan is the former chairman of the Federal Reserve Board and the author of several books. His latest book is "The Map and the Territory: Risk, Human Nature, and the Future of Forecasting." Before President Ronald Reagan appointed him chairman of the U.S. Federal Reserve Board in 1987, Greenspan led the Council of Economic Advisers under President Gerald Ford from 1974 through 1977. He earned his PhD in economics from New York University. His 2008 book, "The Age of Turbulence," was a bestseller.Greenspan is currently president of Greenspan Associates LLC.
Jon surprises Jim Cramer by presenting him with some old footage from his hedge fund days which contradicts what Jim discusses in this exclusive, uncensored video. (08:24) This is part 2 of a 3 part clip. We suggest you begin with part 2.
MOR Wealth Management’s Matthew Ramer discusses the $14,000 annual gift exclusion as a way to minimize the tax on inheritance. (4:52)
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Steve Kroft interviews Michael Lewis and Brad Katsuyama, reporting on a new book from Michael Lewis that reveals how some high-speed traders work the stock market to their advantage.
Lewis: “It means they're able to identify your desire to buy shares in Microsoft and buy 'em in front of you and sell 'em back to you at a higher price. It all happens in infinitesimally small periods of time.”
Katsuyama: “The best analogy I think is that your family wants to go to a concert. You go onto StubHub, there's four tickets all next to each other for 20 bucks each. You put in an order to buy four tickets, 20 bucks each and it says, "You've bought two tickets at 20 bucks each." And you go back and those same two seats that are sitting there have now gone up to $25.” (14:43)