letters

  • 12 Oct 2011 at 3:42 PM
  • taxes

Warren Buffett Opens His Kimono Ever So Slightly…

…and gives Congress a glimpse of the silver tuna. Want to see the full enchilada? The golden goose? The cast-iron baby arm? El Chorizo? Then you’re gonna have to get some other deep pocketed guys and gals to show what kind of heat they’re packing. You do that and WB promises he’ll give you the full autopsy results. Those are the rules. No tit? No tat. If anyone thinks he’s going to be the only one left standing naked, they can refer themselves to a fateful game of strip poker in ’57 from which he learned his lesson the hard way, and think again. Read more »

  • 08 Sep 2011 at 12:30 PM

Dan Loeb Would Like A Word With The Yahoo Board

Sayeth DL:

Board of Directors
Yahoo! Inc.
701 First Avenue
Sunnyvale, CA 94089
Attention: Mr. Roy Bostock, Chairman

Dear Ladies and Gentlemen:

Third Point LLC (“Third Point”) is a registered investment adviser with approximately $8 billion under management. We are writing to inform you that certain investment funds we manage have acquired a 5.1% interest in Yahoo! Inc. (the “Company” or “Yahoo”), bringing our holdings of common stock and currently-exercisable equity options to 65,000,000 of the outstanding shares, and positioning us as the Company’s third largest outside shareholder.

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After a good first half, Citadel is getting so close to its high-water mark that Ken Griffin is starting to reminisce about the good old days when he used to earn performance fees. That in turn reminds him of what else he was up to back in those care-free pre-crash times, like sinking $2.5 billion into an online brokerage saddled with a disastrous mortgage lending operation in November 2007.

And so today he decided to catch up with E*Trade Financial, where he’s the largest shareholder after leading a rescue in 2007. But what started as a nice note to the CEO quickly turned ugly.
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Not really enough to get upset or even mildly perturbed over, though in a letter to investors today re: the Chinese company, Paulson did note that “as the largest investors in the Paulson Advantage strategy,” the disappointment in the lack of trees is shared by the Paulson partners. Read more »

He requested their help last week and even included some links on the proper formatting to use when drafting missives in an attempt to convince a judge to be lenient in sentencing.

From: Rengan Rajaratnam
Sent: Tuesday, May 18, 2011

Dear Friends,

I want to thank you for your support. Your calls, emails, texts, and inquiries are constant reminders that through this dark, tragic time, Raj and the family are not alone.

As we prepare for the appeals process, we need your help and I am I only sending this letter to a handful of people. The sentencing phase is coming up relatively quickly and the federal guidelines are calling for 15 to 19 years in jail. The guidelines are harder and less flexible than many prison sentences for violent and predatory offenders. This is simply unfair, and we are praying for leniency from the judge while we prepare for the appeal.

In the meantime, on behalf of Raj and the family, I would like to enlist your support one last time. Positive character letters from family, friends, and colleagues that know Raj well can play a pivotal role in helping persuade the Hon. Judge Holwell to be fair, and lenient during Raj’s sentencing.

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The senator wants to be kept in the loop re any ‘suspicious trading’ at SAC Capital (he doesn’t know of any, but in case anything comes up in the files) and also has questions just generally about what life is like there. Read more »


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