Too many “catching up on paperwork” tasklets keeping me busy yesterday.
But happy that the market in general, and our stocks, specifically, keep inching up.
Important to watch the array. Australia’s Reserve Bank cut interest rates. The high Aussie is great for the miners but not good for Australia’s manufacturers.
The most depressing story. Spain’s unemployment rate of 27.7% is now higher than America’s was during the Great Depression. For more, click here.
GOLDMAN Sachs’ 40 Most Undervalued Stocks. I have no opinion on the stocks. The list is here.
The hunt for Steve Cohen. From the latest Vanity Fair.
With arrest after arrest in a massive, seven-year insider-trading investigation, U.S. Attorney Preet Bharara is getting closer to the biggest fish of them all: Steve Cohen, founder of SAC Capital, the $14 billion hedge fund, who some regard as the most successful stock picker of his time. C.E.O.’s have fallen, lives and companies have been upturned, but Cohen has thus far escaped. Bryan Burrough and Bethany McLean go deep inside Bharara’s probe—and SAC’s org chart—to reveal just how much blood is in Wall Street’s waters.
For the full, long story, click here.
A favorite West Coast real estate syndicator is visiting. His idea is to “host informal presentations to investors and friends/contacts of existing investors. Our goal is to update existing and prospective investors on our strategies, our implementation, our view towards trends in the market, our most recent results, while also to find out what investor appetites are and what they hope to see from us going forward. We are going to do May 15 in Long Island, May 16 in NYC and May 17 in CT.”
He’s sent me a 15-page summary of his impressive deals — four of which I’m presently in. If you’d like the doc, and/or an invitation to one of the presentations, email me or use the Contact form above. I’ll be at the New York presentation.
They save a young whale’s life. Moving short film. Click here.
Favorite recent New Yorker cartoons:
Harry Newton who was with a friend last night who complained of recent chronic tiredness. I advised, “Please visit your cardiologist.” He demurred. Dumb. Please do. You shouldn’t be more tired than I am — and I’m 15 years his senior. I’m sick of losing my friends to preventable health issues — like heart atttacks and melanoma. Today the tabloids reported that Chris Christie, the New Jersey governor, secretly had a lap-band surgery to tackle his famous weight. Good on you. He could now be our next president.
I appreciate your doing this column each morning. The life lessons in particular help those of us with a lot of mistakes ahead of us.
How much money has been spent on getting Steve Cohen?
To what purpose? Career builder for Baharara?