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Greenlight Capital's investment thesis for Yahoo
Dealbreaker posted the 1Q11 letter to shareholders from David Einhorn's Greenlight Capital. The hedge fund went long Yahoo last quarter - here's why: The Partnerships established a new position in Yahoo! (YHOO) at an average cost of $16.93 per share. The company developed an extraordinary anti-shareholder reputation in recent years, beginning with its ill-advised decision ... read more
Best of the Web Mick Weinstein on 2 May 2011
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Here's why Greenlight Capital bought Best Buy
Dealbreaker posted the 1Q11 letter to shareholders from David Einhorn's Greenlight Capital. The hedge fund went long Best Buy (NYSE: BBY) last quarter - here's why: Best Buy Inc. (BBY) operates consumer electronics stores in the U.S., Canada, Mexico, Europe and China. The market is concerned that BBY has reached its growth limits within the ... read more
Best of the Web Mick Weinstein on 2 May 2011
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The dollar's collapse - what it means
A lot of good material has come out recently to illustrate the U.S. dollar's decline and what it might mean for investors. Here are a few particularly worthwhile pieces. - First, some perspective. David Singer's annotated long-term chart of the USD Index shows that while the recent drop has been steep, it's nothing compared to ... read more
Best of the Web Mick Weinstein on 1 May 2011
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Fight of the century: Keynes vs. Hayek round two
From Econstories.tv, here's the much awaited sequel to 2010's Fear the Boom and Bust, a Hayek vs. Keynes Rap Anthem. With the market riding high following massive government spending, but U.S. unemployment still around 9%, it's time for round two: Background from the creators: According to the National Bureau of Economic Research, the Great Recession ... read more
Best of the Web Mick Weinstein on 28 Apr 2011
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Why has Microsoft seemingly stopped innovating? (MSFT)
Not a new question, but this is a remarkable answer that any Microsoft or software sector investor will appreciate, as will any student of corporate and innovation culture. From former Microsoft employee Hussein Kanji, on Quora: . . . I was at Microsoft in recent years, 2002-2005, and was recruited to bring some startup DNA ... read more
Best of the Web Mick Weinstein on 27 Apr 2011
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Americans, here's where your tax money went, dollar for dollar
The White House recently launched the Taxpayer Receipt, allowing citizens to identify exactly where their money is going, dollar for dollar. As reported by NPR's Planet Money: You enter how much you paid in income taxes, and how much you paid for Social Security and Medicare (which have their own special taxes, and are broken ... read more
Best of the Web Frank on 21 Apr 2011
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HBO's 'Too Big to Fail' trailer
HBO made a movie of Andrew Ross Sorkin's outstanding book on the 2008 financial crisis, Too Big to Fail. The film, starring William Hurt, James Woods and Edward Asner, comes out May 23. Here's the trailer - looks good!
Best of the Web Mick Weinstein on 20 Apr 2011
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5 business journalists and stories that just won Pulitzer Prizes
Financial journalists were roundly criticized for weak reporting in the lead-up to the 2008 crisis, but the latest round of Pulitzer Prizes, announced yesterday, provides some redemption. No less than five were granted to business reporters. Here they are, with links through to the winners so you can read them if you haven't yet: The ... read more
Best of the Web Mick Weinstein on 20 Apr 2011
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Metaphors and the stock market
From David Brooks' latest New York Times column: The psychologist Michael Morris points out that when the stock market is going up, we tend to use agent metaphors, implying the market is a living thing with clear intentions. We say the market climbs or soars or fights its way upward. When the market goes down, ... read more
Best of the Web Mick Weinstein on 13 Apr 2011
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Marriage, finances and the $4 Starbucks coffee
Katie Rosman wrote a great, candid piece for the WSJ yesterday, confessing her love of overpriced Starbucks cappuccinos and her husband's protests of same: The problem... is that cappuccino is not a line item in our family budget. We don't make room for such things when deciding how to spread our dollars. Last year, Joe ... read more
Best of the Web Mick Weinstein on 11 Apr 2011
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