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.
Utah: Its a Dump
Although we have witnessed many weird things in NYC over the years, the Big Apple is rather staid compared to Utah...the landlocked state that proudly claims the California Seagull as its state bird.
Things in the “State of Industry” mutated into a turn for the worse with a recent deal to name the home of the Utah Jazz after a nuclear waste dump.
But Utes of all ages are chiming in. They love the deal and have already submitted nicknames for the home of the Jazz…
The Glow Bowl and the Isotope. The Dump and ChernoBowl. JazzMat (short for Jazzardous Materials), the Big Bang and the Tox Box. The Power House and the Hot Spot. The Fallout Shelter. And the Melta Center.
A letter writer to The Salt Lake Tribune suggested the jaunty Radium Stadium. NY Times
We wanted to analyze the investment merits of Energy Solutions for our loyal readers. Unfortunately, the company is not publicly traded...yet. But with several private equity firms involved it is probably only a matter of time.
Although Energy Solutions has all the trappings of a hot IPO, investors might want to kick the tires of USEC Inc. (USU-NYSE) or Cameco Corporation (CCJ-NYSE) too, as the closest toxic proxies to Energy Solutions. These Uranium plays might not outperform the S&P...but investors would probably prefer them to a lump of coal.
