Tarpon Folio holding Wells Fargo will be on the cover of the upcoming Forbes magazine. Here’s the online version. And here’s a good quote from CEO John Stumpf:
“There are only three ways a company can grow. First, earn more business from your current customers. Second, attract customers from your competitors. Or third, buy another company. If you can’t do the first, what makes you think you can earn more business from your competitors’ customers or from customers you buy through acquisition?”
Posted by Cale at 9:58 AM in Our Portfolios
1. How the U.S. lost out on iPhone work.
2. Why must a captain never leave a sinking ship?
3. Apple’s Massive Numbers and Some Context.
4. The End of Mutual Funds is Coming.
5. Sorry, Einhorn. It was textbook insider trading. And, um, soccer is football.
6. The Random Financial Advice Generator.
Posted by Cale at 5:59 AM in For Investors
Insider trading is “rampant and routine and this criminal behaviour was known, encouraged and exploited by authority figures in several investment funds.”
So sayeth the US attorney for Manhattan. More on the FBI’s Operation Perfect Hedge can be found here in this FT article. And this one.
I have an investor who is concerned this particular era on Wall Street has become just like the 90′s in professional baseball. He believes both major league ball back then and the current scene on Wall Street resemble social experiments that began with the question, “What sort of behavior would you be willing to engage in if we threw tens of millions of dollars at you?”
In baseball, the answer seemed to be, “I will repeatedly inject myself in the butt with copious amounts of steroids.”
On Wall Street, the answer seems to be stuff like this.
Hard not to agree with him.
Posted by Cale at 11:34 AM in For Investors
@TraderFlorida Where are you in Islamorada? 15 hrs ago
