I see value in food — POT, MON, MOS, SYT and AGU (also Cramer’s picks). But this needs further research. The weekend was too hectic. For yield, I continue to like NLY and AGNC.
Timothy Cook will take over day-to-day operations at Apple. I heard Cook, Apple’s COO, at the Verizon iPhone introduction. He was one of the most boring people I’ve ever listened to. He’s probably a great organizer, getting product built and out the door. But he has no creativity and certainly no charisma. Many Wall Street analysts are pounding the table, saying that today’s projected fall in Apple stock represents a great buying opportunity. Me? I’m not so sure. Frankly, it wouldn’t hurt to take a little of our Apple profits off the table. This is Job’s third medical leave. The man is seriously sick. No one can replace Steve. Certainly not Tim Cook.
Steve Jobs, then and now, and Tim Cook, now.
David Einhorn and his updated book on Charlie Rose. His book:
His biography: DAVID EINHORN is the president of Greenlight Capital, which he cofounded in January 1996 with $1 million. It now has over $8 billion under management. Greenlight Capital is a value-oriented investment advisor whose goal is to achieve high absolute rates of return while minimizing the risk of capital loss. Einhorn is the Chairman of Board of Greenlight Capital RE and also serves on the boards of Hillel; The Michael J. Fox Foundation for Parkinson’s Research; and of the Robin Hood Foundation.
In 2002, David Einhorn—one of the country’s top investors—was asked at a charity investment conference to share his best investment advice. His response: short sell Allied Capital. At the time, Allied was a leader in the private financing industry with a reputation that had never been questioned. But Einhorn claimed Allied was using murky accounting practices to prop itself up. At the time of the original version of Fooling Some of the People All of the Time, the outcome of his advice was unknown. Now, the story is complete and we know Einhorn was right. He was right again when in 2008 Einhorn advised the same conference to short sell Lehman Brothers. With a new and substantial epilogue, the paperback edition of Fooling Some of the People All of the Time provides a detailed conclusion to the gripping battle between Allied Capital and Einhorn’s Greenlight Capital and describes how many parts of the Allied Capital story were replayed in the debate over Lehman Brothers. I listened to David’s recommendation on Lehman Brothers, sold it short and recommended to my readers that they do likewise. We made money on Lehman.
David’s excellent interview with Charlie Rose is here. This man is impressive. Enjoy. The book is here.
My BlackBerry is not working.Enjoy the BBC’s wonderful spoof. Like only the English can do it.
When the shopkeeper says “Let’s try it on orange”, he means the Orange cell phone network, which is popular in England. For the video click here.
The Australian Tennis Open has started.
It’s played live on ESPN, and replayed on The Tennis Channel. Melbourne is 16 hours ahead of New York. Hence live play begins in the middle of the night. Right now –for the early rounds — ESPN is starting at 7:00 PM.
Harry Newton, who hates Win 7 even more for its incompatibility with old software I love.
