FaceBook


It’s about lowlives who spread falsehoods about Michael Lewis, with a subplot about the guy’s mom. Read more »

“NEW YORK, March 7, 2014 (GLOBE NEWSWIRE) — Icahn Enterprises L.P. (Nasdaq:IEP) today issued the following statement: On April 2, 2013, the Securities and Exchange Commission (“SEC”) issued a report in which it provided guidance to issuers regarding the use of social media to disclose material non−public information. Our Chairman, Carl C. Icahn, intends to use Facebook, as well as the web site www.shareholderssquaretable.com (and communications to its members) and Twitter, from time to time to communicate with the public about our company and other issues. Mr. Icahn’s Facebook page is located at www.facebook.com/carlicahn. It is possible that the information that Mr. Icahn posts on Facebook, through the Shareholders’ Square Table website and to its members, and on Twitter, could be deemed to be material information. Therefore, in light of the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information that Mr. Icahn posts on Facebook, that he provides on the Shareholders’ Square Table website and to its members, and that he posts on Twitter, in addition to the information that we disclose using our investor relations website, SEC filings, press releases, public conference calls and webcasts.”

Also, he got a deal on WhatsApp, for which he’s got a 5 year plan. Read more »

  • 12 Dec 2013 at 3:26 PM

Facebook For Everybody!

Au revoir, Teradyne Inc. and Williams Cos.: The social network has arrived. Read more »

Yesterday afternoon, the SEC and the Department of Justice charged hedge fund manager, YouTube star, and prolific Tweeter Anthony Davian with fraud. Like any good alleged Ponzi schemer, Davian applied the “one pot of money” philosophy to his funds’ assets, and used investor cash to buy himself an Audi Q7 Prestige, build a palace the likes of which Akron, Ohio had never seen, and collect rare pens. As is typical in these kinds of cases, the benefit of hindsight allows those who witnessed the crime unfold in real time (clients, employees, etc) say “Well, of course it was a scam,” even if it wasn’t readily apparent at the time. Although not for a lack of trying on Davian’s part! Behold, the amazing list of red flags he dangled in people’s faces (uncovered by reporter Roddy Boyd), all but begging them to pause and say “Hey wait second, would a hedge fund manager running a legitimate and successful shop…” Read more »

Remember when Facebook IPOed last May and it was a mess? Today the SEC released its amusing order fining Nasdaq $10 million for the mess and explaining what happened. Some computers were having a stressful day at work and so they decided to give up and hide out in the nap room, is the gist of it. I feel like I’d get along with those computers.

What started the mess is that Nasdaq opens the trading of a newly IPO’ed stock with an opening cross where it compiles quotes for a while and then crosses them in one big opening cross before continuous trading starts. And it uses the following process to do the opening cross:

  • 1 Get a bunch of orders over a ~20 minute period before trading starts
  • 2 Use a program called the IPO Cross Application to calculate the clearing price and shares crossed based on those orders, which takes a few milliseconds
  • 3 Check if any of the orders were cancelled during those milliseconds
  • 4 If they were, delete those orders and Goto 2

Did you spot the problem?1 Nasdaq’s systems engineers did not, even after the IPO Cross Application had been running on an infinite loop for twenty minutes. The SEC caught it, though, reading their order, I was worried that they’d fallen prey to it as well: Read more »

In a word, yes. In two words, yes, butRead more »