In the following article published in the October 12, 2009 edition of Barron’s, Doug Dachille identifies flaws with the Build America Bond program and offers an alternative approach that would provide the same benefit to municipal issuers in need, but without burdening taxpayers with unnecessary costs.

In this article written March 30, 2009, Doug Dachille, Chief Executive Officer of First Principles Capital Management, and Zvi Bodie, Norman and Adele Barron Professor of Management at Boston University, address comments made by Warren Buffett on the inadequacy of the Black-Scholes option-pricing model. Their analysis reveals interesting insight into the counterparty risk component of options contracts.

In this article written March 27, 2009, Doug Dachille, Chief Executive Officer of First Principles Capital Management, and Zvi Bodie, Norman and Adele Barron Professor of Management at Boston University, address comments made by the President in the wake of the AIG bonus compensation affair. They examine the compensation schemes that led financial institutions down destructive paths and comment on how the need for talented individuals to tackle the problems facing the economy is greater than ever.

For your convenience, the link below contains the complete and pre-edited version of an article later published in American Banker by Richard Dolan, CFO of First Principles Capital Management, in which he examines how the subprime crisis has affected bank-owned life insurance. The edited version appeared in the February 15, 2008 edition of American Banker. Click on the following link to view the original article in its entirety.

In this article from the December 19, 2007 edition of the Wall Street Journal, Doug Dachille, Chief Executive Officer of First Principles Capital Management, examines the drawbacks of the Treasury’s proposed mortgage rescue plan and offers his view on modifications that are needed to bring the plan into a proper balance between the interests of investors and borrowers.
Full Article

In this white paper, Richard Dolan, CFO of First Principles Capital Management, offers his view on the suitability of the CRA strategy in BOLI and establishes the first principles of what is a good investment strategy inside BOLI.

For your convenience, the link below contains the complete and pre-edited version of an article later published in American Banker by Richard Dolan, CFO of First Principles Capital Management, in which he examines the challenges of investing in hedge funds as a BOLI option. The edited version appeared in the December 16, 2005 edition of American Banker. Click on the following link to view the original article in its entirety.