While politicians and other critics have focused on stock buybacks being a poor use of cash versus investing in and growing a company, they have completely missed the boat. As have those in the business press who have concentrated their … [Continue reading] about HENRY SINGLETON WHERE ART THOU?
THE SKIM AND THE PARTIAL PONZI: PART II
Let's start off with the definition of a Ponzi scheme: "An investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by … [Continue reading] about THE SKIM AND THE PARTIAL PONZI: PART II
THE SKIM AND THE PARTIAL PONZI
Come gather 'round people Wherever you roam And admit that the waters Around you have grown "Sir, if you have a milkshake and I have a milkshake and my straw reaches across the room, I'll end up drinking your milkshake." - Senator Albert … [Continue reading] about THE SKIM AND THE PARTIAL PONZI
HEALTHCARE AND THE UPPER MIDDLE CLASS
Did you know that 10 out of the 12 largest foundations in the U.S. ((ranked by total giving, not by assets)) are those of pharmaceutical companies? And do you know who the beneficiaries of their largesse are? Themselves. And do you know who the … [Continue reading] about HEALTHCARE AND THE UPPER MIDDLE CLASS
A LETTER TO BILL ACKMAN
Dear Bill, I have long been an admirer of yours. It began back in 2003 when I first received a copy of your report on MBIA questioning its triple-A status. Though a lot of the content and terminology contained in it was unfamiliar and difficult … [Continue reading] about A LETTER TO BILL ACKMAN