opinions

  • Michael Lewis

    News

    Citadel Exec Has No Idea What Michael Lewis Is Talking About

    Michael Lewis produced a top-selling book by arguing that the U.S. stock market is rigged. To one of hedge-fund operator Citadel LLC’s top executives, small investors have never been more fortunate. “It’s one of the few markets in the world where the little guy gets a better deal than the big guy,” Jamil Nazarali, the […]

    / Apr 29, 2014 at 10:45 AM
  • News

    Carl Icahn: It’s Going To Take Something Older Than Me To Fix This Mess

    Carl Icahn was born in 1936, three years after the Glass-Steagall Act forever separated commercial and investment banking—for 66 years. Well, Uncle Carl remembers the Great Depression that led to Glass-Steagall, and he’s not so sure it’s a coincidence that the worst economic crisis since then occurred within a decade of its demise. Even if […]

    / Feb 12, 2014 at 2:05 PM
  • meredithwhitneyzebra

    News

    Some People Are Less Excited Than Others About Meredith Whitney’s New Hedge Fund

    “There’s a long list of failed managers who look to raise money off of one correct market call made in the past, so no, I’m passing on this one,” said Brad Balter, founder of $1.2 billion Balter Capital Management, which invests in non-brand-name hedge funds and alternative mutual funds. “This feels much less like a […]

    / Nov 14, 2013 at 7:29 PM
  • Really! It's uncanny!

    News

    Now That That Bob Diamond Character Is Out Of There, Barclays Is A Real Buy, Says Bob Diamond

    Bob Diamond, who was ousted last year as the boss of British bank Barclays Plc, said it has grown stronger since he left and he plans to buy shares in its 6 billion-pound ($9.6 billion) rights issue. “I’m buying my rights, I’m bullish on Barclays … Barclays has become a better and stronger institution,” Diamond […]

    / Sep 27, 2013 at 2:01 PM
  • News

    Citigroup Lookin’ Pretty Good To Citigroup Chairman

    Mr. O’Neill, meanwhile, told shareholders that the main work in shrinking Citi has been done. “Look at the performance of Citicorp: It’s quite respectable,” he said about the division that is Citi’s core lending and capital markets business. “We have the makings here of a very attractive company,” he said. [WSJ]

    / Apr 24, 2013 at 6:52 PM
  • carlicahn

    News

    Carl Icahn Still Thinks Bill Ackman Is A Bum, But That’s Just, Like, His Opinion

    There are many people in the universe who are fans of hedge fund manager Bill Ackman. They like his style. His charm. The way he makes them feel. The fact that he’s not afraid to show his emotions or give them an honest opinion about their new dress or say “You know what? Those highlights really aren’t working for you.” Carl Icahn, however, is not one of those people. Save for a fleeting moment of supposed amicability following “a lengthy, boozy dinner,” Icahn has viewed Ackman as a punk for nearly a decade; an untrustworthy little jerk who Ichan’s friends supposedly told him not to do business with. (The feeling being more than a little mutual; as Ackman has put it, “The guy is a shakedown artist. His word is worthless.”) Anyway, in case anyone was wondering if the investors had put an end to their feud with another long, booze-filled meal, wonder no longer.

    / Jan 24, 2013 at 6:32 PM
  • News

    Evil Incarnate Thinks LightSquared Is Great

    As those of you who keep up with the trials and travails of hedge fund manager Phil Falcone, a wireless start-up called LightSquared is his baby and the thing that stands to make or break him. To that end, Falcone’s invested a significant amount of time, energy, and, most importantly, investor money in seeing his baby succeed. Unfortunately, in the last year or so, LightSquared has been met with some significant setbacks, namely with regard to GPS interference it is said to cause. The yachting community worries that said interference will cause boats to get lost at sea. The National Oceanic and Atmospheric Administration says LightSquared“may degrade precision services that track hurricanes, guide farmers and help build flood defenses.” The FAA put out a study that estimates LS “may cost 794 lives in aviation accidents over 10 years with disruptions to satellite-aided navigation.” To all of that and more, one man asks, “Yeah, AND???”

    More Job Killer Than Creator

    By Karl Rove

    …after nearly a decade of regulatory “green lights,” the Obama administration reversed itself and started proceedings to kill LightSquared’s ambitious plan to upgrade the U.S. cellular infrastructure. Why? Because at the eleventh hour, concerns were raised about potential interference with GPS devices — interference that occurs because these devices are listening into the part of the spectrum licensed to LightSquared….This will have consequences. Consumers will lose the chance to get better, cheaper wireless service. Owners of tablets, smartphones and other new devices won’t get faster downloads and greater bandwidth. The country would miss out on a valuable infrastructure improvement based on cutting-edge technology. Thousands of workers in construction, steel, transportation and other industries won’t get work, along with the good paychecks that a privately funded $14 billion project like this generates.

    Why? Because the Obama administration, which first endorsed and encouraged LightSquared, has now reversed course and gutted it. Given that this is the slowest, most anemic recovery from any recession since World War II, you might expect the administration to be eager to encourage companies to invest in creating jobs, making the economy more productive and increasing economic growth…But based on what it’s done to Keystone XL and now LightSquared, you’d be wrong.

    All because of some eleventh hour concerns about planes crashing.

    More job-killer than job-creator [Politico]

    / May 3, 2012 at 2:40 PM
  • Opinions

    Guy Who Used Company Funds To Throw Wife Birthday Party Featuring Vodka-Pissing Ice Sculptures And Fireworks Made Out Of Breasts Morally Offended By Corporate Greed

    Remember Dennis Kozlowski? Bald guy, about yay* high? Actually kind of cherubic-looking, in that you could see him playing Cupid in the school play? Used to run this company called Tyco until he was sentenced to 8 1/3 to 25 years in prison? Anyway, quick story about Big D is that the reasons he’s in […]

    / Oct 21, 2011 at 2:24 PM
  • News

    What Does Jim Cramer Think Of The LinkedIn IPO?

    Here’s what he’s had to say so far (spoiler alert: he would not put it in the “one of the greats” category alongside Lenny Dykstra):

    / May 19, 2011 at 2:42 PM
  • News

    Cornel West Having Trouble Forming An Opinion About President Obama’s Relationship With Wall Street

    Sayeth Mr. West: “Obama is a black mascot of Wall Street oligarchs and a black puppet of corporate plutocrats. And now he has become head of the American killing machine and is proud of it.” [TD via NetNet]

    / May 18, 2011 at 2:53 PM
  • News

    Simon Johnson Names His Pick For “Most Dangerous Banker In The World”

    And the award goes to…

    / Apr 14, 2011 at 12:33 PM
  • News

    Matt Damon Thinks Obama Is Working For Wall Street

    “I think he’s rolled over to Wall Street completely. The economy has huge problems. We still have all these banks that are too big to fail. They’re bigger and making more money than ever. Unemployment at 10 per cent? It’s terrible.” [Independent via BI]

    / Mar 7, 2011 at 3:46 PM
  • News

    Michael Moore: “This Country Is Not Broke…There Is Still A Ton Of Cash, Trillions Of Dollars Of It”

    “But we’ve allowed a vast majority of it to concentrate in the hands of just a few people. It’s not theirs- it’s a national resource. It’s ours.”

    / Mar 3, 2011 at 4:55 PM
  • News

    America Has Some Thoughts About Your Bonuses

    When you walk out of the office and down the street today, are you planning on asking some strangers their opinion on whether or not you should get paid this year? No? Well give it a shot- the answers may surprise you, if you were under the impression the general population thinks you deserve that […]

    / Dec 13, 2010 at 10:15 AM
  • News

    Some Investors Having Difficulty Forming An Opinion On Carlyle’s Foray Into Hedge Funds

    I’m kidding, of course. As you may have heard, Carlyle is considering buying a stake in a hedge fund manager and is in talks with multiple firms, in addition to looking to raise “two new debt funds and a $1 billion pool to buy small companies.” The units would be overseen by Mitch Petrick, who […]

    / Sep 21, 2010 at 5:39 PM
  • News

    Dodd-Frank Provisions We Can All Safely Ignore

    The following post is by Dealbreaker reader and commenter Infinite Guest. Laws go unenforced for any of several superficially distinct reasons, but ultimately because of political failure. Mostly a reiteration of desuetudinal laws, Dodd-Frank seems deliberately written so that it can’t be enforced. Dodd-Frank is a gigantic recipe for political failure.

    / Jul 27, 2010 at 3:40 PM

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