FaceBook

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


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.”

Are you Wall Street veteran, bank CEO, or otherwise high-ranking member of the financial services industry? Are you pretty good at the finance-y part of your job but totally lost when it comes to technology, specifically the vast and utterly confusing world of social media? Do you want to shell out $60k to not exactly learn how to navigate sites like LinkedIn, Twitter, Instagram, and the like, but walk away with the ability to produce a crude drawing of Facebook’s homepage? Consider today your lucky day: according to the Journal, there are now numerous scams willing to take your money…

Fearful their companies will fall behind because top bosses don’t have a firm grasp of technology or digital media, senior managers are taking lessons on how the Internet works. Some firms are pairing individual leaders with young mentors, while others are spending hundreds of thousands of dollars to teach the entire c-suite how to use social tools that most of their entry-level employees use without a second thought. The goal isn’t for the CEO to parse the difference between a “like” and “share” on Facebook or take a spin on the company Twitter account, though that is covered, too. Rather, instructors and managers say, a basic understanding of the digital landscape helps leaders make better decisions about what to invest in, as well as how to talk about it. In the past 18 months, teams of senior staffers from companies including American Express Co., NYSE Euronext and PepsiCo Inc. have gone to the Manhattan classrooms of General Assembly, which offers courses in coding and product design, to learn how to analyze data and think like a tech entrepreneur. A two-day program can cost $60,000.

…and in exchange, teach you how to: 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 »