Leaders of the BRICS nations — Brazil, Russia, India, China and South Africa — are wrapping up a summit today. They have a new plan to create a bank to fuel economic growth in the developing world.
The disposition effect says investors tend to "sell the winners, and hold onto the losers" for purely emotional reasons. One behavioral economist fell for the classic investment mistake.
Eurozone finance ministers reached a last minute deal to grant Cyprus a $13 billion bailout early this morning. Those with large deposits in Cypriot banks could be hit will a tax of 30 percent in order to help fund the bailout.
