Short People
dwarf (dwôrf), n. pl. dwarfs, dwarves (dwôrvz) 1. any human being, animal or plant that is much smaller than the usual one of its species. 2. generally, an individual who is 4’10” tall or shorter than the norm for their ethnic background is considered short statured and medically known as a dwarf. the label “dwarf” has traditionally been given to persons of disproportionate short stature, whereas the term “midget” referred to those of endocrine or pituitary deficiency type. in clinical practice, however, the terms “short statured,” “dwarf” and “short” person are preferred. Shortdwarf.com
Fidelity Investments, whose traders were recently caught up in a ongoing scandal involving dwarf tossing and other unseemly affairs, recently apologized:
December 21, 2006
An Open Letter from Edward C. Johnson 3d, Chairman of the Board of Trustees of the Fidelity Mutual Funds
Dear Shareholders, Customers, Clients and Employees:
More than two years ago, the NASD brought to our attention information that a number of our equity traders and supervisors had accepted lavish travel, entertainment, gifts and gratuities (TEGG) from broker-dealers who execute trades for the Fidelity mutual funds. We investigated these violations of our policies and as a result, we took action against these individuals. Some were fined, some have left the company, none who were involved in serious misconduct are associated any longer with equity trading at Fidelity. In addition, we enhanced appropriate policies, conducted extensive training and education, and added new management oversight of the equity trading operation. Mea Culpa
It took nearly two years to get this matter resolved. Wall Street needs move on.
Hopefully this will be the last you hear about it…
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
A Message From The Chairman of The Board
Co-Chairmen actually…
Houses of The Holy
Which Cult do you belong to?
Small-Cap? Distressed? Value? Mortgage-backed perhaps?
Investing is religion on Wall Street.
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BREAK-IN
The gentleman pictured above is named Ahmet Ertegun. He unfortunately passed away last week…
Ahmet co-founded Atlantic Records and was a legend in the music business. He was instrumental in the success of many bands, including Led Zeppelin. Read his obituary when you get a chance...he led an extraordinary life. Our condolences go out to his wife Mica.
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Speaking of extraordinary, we are soon embarking on a World Tour looking for rock star fund managers. We are making our list...and checking it twice.
Have any ideas? We have many filthy rich people on this site. You know your stuff. Shoot us an email…
At 1440 we want to celebrate good investors as much as we call out the bad ones.
We suspect we will run into a lot of small, employee-owned shops on our list. But if the big boyz deserve to make the cut so be it. We have open minds here.
Houses of The Holy ...buy side shops where stock and bond gods ply their trade.
coming soon....only at 1440.
Going Postal
We are not surprised by the FedEx (FDX-NYSE) shortfall today.
You shouldn’t be either.
Its because you did not order your Pat Tillman Jersey. Give FedEx some business and get yours moving. What is taking you so long?
We ordered ours yesterday...in white. Soon we will get a red one.
Patrick Daniel Tillman did not work on Wall Street.
He defended it.
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ps-several sizes are out of stock...keep trying...thanks if you have
no position fdx
11/6/76-4/22/04
A big bonus might make you a legend
But it won’t make you a hero
Give back
And we might reconsider
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How about $40 for 40?
Or better yet buy a jersey
and be the best dressed guy on your trading desk
9/11 spurred Tillman to action. Today its Wall Street’s turn to step up.
Patrick Daniel Tillman owns this house for 24 hours.
Find time to honor him.
And the others.
See you tomorrow.
Holiday Gifts For The Filthy Rich (Part III)
Its crunch time for procrastinators who need that special gift for their filthy rich friends and family. We are quite smitten with the Ambient Orb here. With the S&P 500 down today it has turned an unfamiliar color...we prefer the green glow it has been steadily emitting. Of course, you can always unplug it.
Our gift idea today is targeted to one person in particular...the hen-pecked husband of Sallie Krawcheck. With handicappers all over the Street placing bets on her future at Citigroup (C-NYSE), her husband’s daily routine might be rudely interrupted.
Last we knew he was home watching Oprah while Sallie brought home the bacon:
Just over 10 years ago, Krawcheck, 41, left her job as an investment banker to be a stay-at-home mother. Within a year, though, she realized she was “really bad at it.” She reinvented herself as an equity analyst at Sanford Bernstein, which eventually appointed her CEO. Thanks in large part to her outspokenness there, Citigroup CEO Sandy Weill tapped her to head up his Smith Barney division in 2003 — at the height of investor concerns about conflicts between research and investment banking. In November 2004, she became CFO. With her husband, a banker who went part-time when she took Weill’s offer, and two babysitters helping her raise the kids, Krawcheck says she feels no guilt about her 80-to-90-hour workweeks. “Because I stayed home for a while, I don’t question now whether my family would be better off if I were there,” says Krawcheck, who made nearly $10 million last year. CFO.com
With an annual compensation package in the neighborhood of $10 million, Sallie’s recent whining is unlikely to generate any sympathy around here. While Zapping her with a Taser (TASR-NASDAQ) is probably excessive, the stop nagging button sounds about right.
Followed by a beer.
