1. An old hand says stocks are the cheapest they’ve been in three decades.
2. The neuroscience of happiness.
3. First impressions of the Facebook IPO filing.
4. Chuck Akre on the search for compounding machines.
5. Cigarettes, alcohol or checking email: which is hardest to resist?
6. The downside of investing safely.
And the best sentence I read this week, from here:
“On Monday night, Blake Griffin dunked so hard on Kendrick Perkins that the Mayan apocalypse was called off.”
Posted by Cale at 1:15 PM in For Investors
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
