The near constant refrain from activist investors is that they’re just working to maximize shareholder value, an objective that many of us take for granted even if we don’t automatically assume that hedge funds are being sincere about their goals. But the title of James Montier’s latest white paper “Shareholder Value Maximization: The World’s Dumbest Idea,” leaves no doubt where he stands on the matter.
The fourth quarter was an excellent time for short-sellers because much of the market entered a bear market. However, it also presented a wealth of potential opportunities for value... read more
Michael Norman, likely one of the world's largest trolls ( speaking of which where is Bob Chapman these days) is back at his favorite game attacking his favorite target... read more
This has been Japan's year. After several decades of non-existent growth, Prime minister Shinzo Abe's reforms are finally starting to pay off. Economic growth and inflation is returning to the... read more
Anyone who has studied accounting knows that even when a management team is just trying to give the clearest possible depiction of how their business is doing (not massaging... read more
George Soros nearly doubled his downside protection, increasing S&P 500 (.INX) put protection in the portfolio by 154% in the fourth quarter, owning $1.3 billion worth of stock market... read more
Pershing Square Capital Management appears to have some hunger pains. In 13F filings released today, William Ackman’s activist hedge fund made reported on a trio of food related issues... read more
This is the second part of a two-part article covering “the great debate” between Vanguard Group founder, John C. “Jack” Bogle (for indexing) and Jim Grant, (against) publisher of... read more
Livermore Partners Q2 2019 letter to investors July 25th, 2019 To Partners: Second Quarter and YTD performance is on fire as our hedge fund, Livermore Strategic Opportunities, LP is experiencing its best... read more
Tesla Motors Inc (NASDAQ:TSLA) has released a strong fact based statement about the Model S fire that went viral earlier this week. The statement is firm and highlights the... read more
The latest updates on Chinese Banks and the shadow banking system China is continuing to clamp down on excess in its financial system as policymakers seek to rein in risky... read more
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