Lakshmi Mittal: Man of Steel
Why build your castle when you can buy one on London's Billionarie's Row.
posted: Tuesday May 27th - 10:46am
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What Next, Price Controls?
Speculative frenzies come and go. The impulse for our leaders to somehow assign blame during such periods never goes away.
posted: Tuesday May 20th - 2:31pm
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The Gravest Error: Having to Be Right
Unquestionably, Walter Matthau’s best role was as Coach Buttermaker in “The Bad News Bears” (1976). The ballfield where the movie was filmed isn’t far from where I live in L.A. Every time I drive by I find myself wanting to pull into the nearest 7-11 and loading up a styrofoam cooler full of Bud cans. I don’t acknowledge the remake with Billy Bob Thorton.
posted: Monday May 19th - 1:53pm
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A Lesson from the Global Macro Mac Daddy
If you watch the O'Reilly Factor you know George Soros as a liberal and a pinhead. If you are into global macro investing, he is your hero. As far as global macro, no one has done it as well for as long as Soros. He recently shared a valuable nugget of insight during an interview with Money Magazine...
posted: Friday May 16th - 11:57am
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General Electric
"GE may shed storied appliance unit" blared the WSJ today. Saddening, I know. Fond are my memories of summer nights on the front porch when my grandfather, nursing a double scotch, his hands stained with bright orange Andy Cap hot fry residue, would regal my brothers and I with such ripping appliance yarns as "Chester the Talking Fridge" and "The Mouse in the Toaster," which always terrified me.
posted: Thursday May 15th - 1:39pm
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Sunshine & Lollipops
posted: Wednesday May 14th - 3:50pm
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Come on. Let's just admit it. We don't know.
Out of the pie holes of well coiffed, teleprompter-cued news anchors, it comes. From positions of certainty held by the most esteemed business writers in the industry, it flows. It doesn't stop, day in, day out. I'm talking about ridiculously oversimplified cause and effect distillations relating to why markets behaved a given way.
posted: Tuesday May 13th - 4:30pm
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The Madness of King George
posted: Tuesday May 13th - 2:30pm
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Griffin: Don't Trust Anyone Under 30
Citadel founder Ken Griffin, who famously traded from his dorm room before rising to become one of the securities industry's most powerful participants, thinks he knows what went wrong in terms of the risk management lapses on Wall Street.
posted: Tuesday May 13th - 12:21pm
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Spin Citi
Citi, that death star of a global financial institution, is raising money, and they are doing it hand over fist.
posted: Friday May 9th - 9:07am
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"Twist" and Shout
Jim Cayne lost $900MM in BSC's collapse. But he was able to get $60 MM out as of his last sales. I can't fathom this from a trading standpoint. He must have felt omnipotent or something.
posted: Thursday May 8th - 11:16am
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Manage Your Risk or Your Risk Manages You
As a trader, I have learned a lot by making mistakes. Sometimes I've had to make the same mistake several times in order to get the point. I have learned a lot by watching other traders too and I've been extremely lucky to have very loving and generous world-class mentors. Every once in a while you find yourself revisiting old lessons that you learned as a rookie because they have new meaning for you today.
posted: Thursday May 8th - 11:15am
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Soft Shoe
Revelations this week that the MSFT/YHOO deal was off should have surprised no one. It had no lift from the start. One laggard buying another. Smart money sold YHOO after the deal was announced. I recall doing some back-of-the-napkin math at the time: MSFT was willing to spend $40 Billion for YHOO, a C+ student, at best. At the same time, GOOG's market cap was around $160 billion. I still think MSFT should have bought 25 percent of GOOG for the same money in the open market.
posted: Wednesday May 7th - 10:12am
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A Risk Management Star is Born
posted: Monday April 28th - 11:25am
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