Some links

Cassandra about the difficulties of reinsurance companies run by hedge funds

Michael Lewis has a new big piece about the ex Goldman programmer who got 8 years in prison for stealing HFT code

Recommended: Jason Zweig (Co Author Intelligent investor) interview

Bad week for Bill Ackman: JC Penney drops, Soros has joined the ranks of the Herbalife “squeezers”. Ackman tries to fight back, but at the moment without any impact.

Interesting stock idea: Japan Airlines, bought by Jana Partner


  • The prosecutor, Assistant U.S. Attorney Joseph Facciponti, argued that Serge Aleynikov should be denied bail, for he was a danger to the community and a flight risk, as he had in his possession computer code which in the wrong hands could be used “to manipulate markets in unfair ways.” (Goldman Sachs presumably used it to manipulate markets in fair ways.)

  • Why do you assume the Herbalife longs are “squeezers”?

    As far as I can see they are value investors and the presumption involves bias…

    • John.

      well, Icahn Loab and especially Soros are in my opinion not really value investors. They are much more event driven. And a large disclosed short position in a (fundamentally potentially ok) stock is clearly an opportunity for people with enough fire power.

      I do not have a position in Herbalife and i plan to stay far outside this battlefield. I am just watching and enjoying mypopcorn.

      I got burned enough with Volkswagen….

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