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Trader Of The Year: John Paulson Made Billions Shorting Subprime Mortgages
Reading Time: 2 minutesTrader Monthly recently named John Paulson trader of the year for 2007. Duh!!!! Funds run by Paulson, a hedge fund manager, were up $15 billion in 2007 and he is estimated to have made beteween $3-$4 billion himself. How’d he…
Buffett Biographer Schroeder Rips Buffett, Annual Meeting
Reading Time: 7 minutesAlice Schroeder, author of the recent biography The Snowball: Warren Buffett And The Business of Life (2008), harshly criticized Buffett and the annual meeting on two counts in a piece yesterday for Bloomberg: “Buffett Turns Into One More Corporate Bubble”, Alice…
The 17 Year Old Detroit Girl Who Created a Million Dollar Website
Reading Time: 2 minutesI just read a truly incredible story from Fast Company magazine about a 17 year old girl from Detroit who, without any help from her parents or connections, created a million dollar (and growing) website. The site is called Whateverlife.com and…
TheStreet.com’s Vishesh Kumar Rips Microsoft Interest In Facebook
Reading Time: 1 minuteIn a blistering and fact filled diatribe at TheStreet.com, “Facebook Won’t Help Microsoft”, Senior Writer Vishesh Kumar makes clear the meaning of Microsoft’s potential purchase of a slice of Facebook at a price that would put a $10 billion value…
Judge Rejects FTC’s Appeal To Hold Up Whole Foods/Wild Oats Merger
Reading Time: 1 minuteYesterday after the close the federal judge overseeing the FTC’s request for a preliminary injunction against the Whole Foods/Wild Oats merger rejected the FTC’s case. The FTC now has until noon on Monday to appeal the ruling. If they don’t,…
The End Of Freedom For American Banks
Reading Time: 2 minutesI would like to see a regulatory system aimed at insulating the real economy from financial innovation insofar as that is possible. That may require limits on the freedom of action of commercial banks. – Robert Solow, 1987 Nobel Prize…