This interesting PBS video explains the rise and the risks of hedge funds. The video does a good job of explaining the potential negative impact from the dramatic amount of leverage used by some hedge funds. Also, the video features hedge fund manager and author Nicholas Taleb, who discusses the posibility of black swan events.

John Bogle is the founder of Vanguard, a leading client-owned investment management company. In this video, Bogle explains disadvantages of ETFs in comparison to traditional index funds.
Edit: This video has been removed from Wall Street Journal online. Bogle generally advises against excessive trading and the subsequent high commission fees that could result. He also cautions against exotic ETFs.
Smart Money also has a Q&A Bogle interview about ETFs.
SHARETHIS.addEntry({ title: “Bogle Cites ETFs’ Drawbacks”, url: “http://www.sharpeinvesting.com/2007/06/bogle-cites-etfs-drawbacks.html” });

Monkey Business
Monkey Business is considered a must read book for anyone considering an investment banking career. The book is the true story of two graduates from Harvard and Wharton business school.
Dreaming of magnificent wealth, elite social status, and power, the two graduates decide to become investment banking associates at Donaldson, Lufkin & Jenrette (DLJ), a prestigious New York investment bank. The associates think they will be making important deals, traveling to exotic locations by private jet, and living an extravagant lifestyle paid for by the company.
However, these dreams are quickly destroyed …

This is just a funny video from Saturday Night Live to break up the more serious finance posts. The video is about an innovative method to stay out of debt….

What is Securities Lending?
Securities lending is the temporary transfer of securities on a collateralized basis from one party (the lender) to another (the borrower) for a fee. The borrower must return the securities to the lender after an agreed period or on demand. Securities lending allows the lender to earn enhanced returns on securities through finance charges and provides the borrower with many beneficial opportunities. Most securities lending is collateralized using cash, other securities, or a letter of credit. Securities lending also plays a more general beneficial role by increasing …

Background
Long Term Capital Management(LTCM) was a hedge fund established in 1994 by John Meriwether, a very successful bond trader at Salomon Brothers. At Salomon, Meriwether was one of the first on wall street to hire top academics and professors. Meriwether established a team of academics who applied models based on financial theories to trading. At Salomon, Meriwether’s group of geniuses generated amazing returns and demonstrated an unparalleled ability to precisely calculate risk and other market factors.
In 1994, Meriwether left Salomon and established LTCM. The partners included two Nobel Price-winning economists, …