Jon Shazar

Posts by Jon Shazar

Bill Ackman is pretty good at waiting. He waited more than a year for JC Penney to see the light and hire the guy he wanted as CEO, and then another year-and-a-half for that guy to fail spectacularly and saddle him with a half-billion dollar loss. Speaking of half-billion dollar losses, he waited for more than a year for a power that is to start looking into his allegation that there’s something amiss at diet-shake distributor and distributor-recruiter Herbalife, and now he’s patiently waiting for one of them to shut it down.

So he’s happy to wait for a couple of months while the people who make Botox consider their options while protected by a poison pill. Just as long as the option they come down on is selling their company for $46 billion to his chosen buyer, or to someone else for a bunch more. Read more »

  • 23 Apr 2014 at 1:46 PM

The Bitcoin Bugle: Mark Karpelès Had a Dream

And it wasn’t to transform a role-playing card exchange into the vanguard of a financial future without fiat currencies or central banks. That was incidental.

Or, rather, it was a means to an end, the end being a much more prosaic, conventional business: a coffee house that would help one lonely French fat kid in Tokyo make friends. Read more »

  • 23 Apr 2014 at 1:40 PM

Ben Bernanke Has Regrets

As nice it was to spend eight years saving the economy and testing the proposition that there are no stupid questions during sessions with various congressional committees, gentle Ben would just as soon trade them for the quiet times at Fisher Hall. Read more »

  • 22 Apr 2014 at 3:57 PM
  • Banks

Breaking: Banks Competing With Each Other

In a revolutionary development, it turns out that each would like the biggest piece of the stock-trading pie possible. Read more »

Bill Ackman’s Boyish Visage To Be Preserved For Posterity

The Pershing Square Capital Management chief will never have to grow a beard to hide his frown lines if he can pull off his latest effort. Read more »

So he or she is buying some protection: $8.3 million worth. Read more »

Larry Fink Expands On His Dislike Of Hedge Funds

The capo dei capi of money managers doesn’t like these young guns (and, in one notable case, not so young) spreading a lot of damned nonsense and nuisance in pursuit of their short-term goals. If this was not made clear enough in his letter to S&P500 CEOs (because Larry’s the kind of guy who writes letters to S&P500 CEOs) last month, allow him to clarify his disdain. Read more »

The good news never stops at Carl Icahn’s favorite diet-shake purveyor, which no doubt welcomes probe number five-ish as another exciting opportunity to show it is totally above-board. Read more »