$$$Icahn Takes Herbalife Stake [WSJ]
$$$ Best and worst Ira Sohn Conference picks include THC (+65%), France CDS (-57%) [FTAV]
$$$ "I wonder what the Art Collector thinks, late at night, as he ignores the phone calls from his lawyers, stops calculating the probability of prison, and surveys what $700 million has bought him. Maybe he is a boob and sees in Pollock’s swirls nothing more than a mirror of his own wealth. Maybe he has become infatuated with the scale of his consumption: the goal has shifted from acquiring individual works to assembling a mountain of art. If you are not managing more money, you are managing less." [n +1]
$$$Sorry again for the continuing technical difficulties; we're all hoping that we'll be back online tomorrow. Thanks for your patience!
$$$ "Corporate treasurers at companies like Google are being forced by the Federal Reserve's low-rate policy to invest in ever-riskier credit products, including longer-dated investment-grade bonds, junk bonds and leveraged loans ..." [Reuters]
$$$U.S. Picks Citigroup, JPMorgan to Manage GM Shares Sale [Bloomberg]
$$$ "A plan to give carbon credits for slaughtering camels, curbing emissions coming from their flatulence, was rejected by an Australian government committee." [Bloomberg]