Warren Buffett Times Two

May 16, 2011
J. Webster
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Warren Buffett and Ed Asner, who plays Buffet in HBO's new movie: 'Too Big to Fail', get together at the premiere in New York for a laugh. Of course Buffett's role in the saga of the financial collapse, which 'Too Big to Fail' depicts, is largely about his $5 billion dollar loan to Goldman Sachs.  The loan gave investors confidence in Goldman and helped fight off the short sellers, who were all over any financial stock during that period. Buffet of course made out like a bandit with the deal, earning over $500 million dollars of interest on the loan. It

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Journeys of The Wall Street Bull: Ball Touching

May 16, 2011
J. Webster
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I had no idea touching, or I should say caressing, or maybe even squeezing the Wall Street bulls' balls was a must do on your vacation to New York City.  At least it seems that way from this video below, where tourists flock to the bull to take pictures and grab its balls.  One tourist even gets right in there and puts two hands on the bulls' balls. Props to her. For the most part, it looks like most of these ball touchers are international visitors from France, Spain and other parts of Europe, from what I can tell.  I guess

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Tim Geithner’s New Eye Wear Line

May 16, 2011
J. Webster
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Who knew Tim Geithner had a new line of eye wear coming out.  What do you think?  Would you wear them? Pretty smooth looking. Oh yeah, the eye glasses can function as protective goggles just in case you're visiting a auto manufacturing plant. Getty Images

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Amanda Durry is Not Afraid of Snakes

May 16, 2011
J. Webster
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I'm really not sure what the purpose of these inside CNBC videos are all about.  Sure, I guess they want viewers to get a more intimate picture of what it's like behind the scenes at CNBC and what some of their anchors are really like.  In this video, Amanda Drury is asked about the Bronx Zoo Cobra and if she's afraid of snakes. Breaking news: she's not, she's from Australia.

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Is it Too Late to Buy CMG?

May 15, 2011
J. Webster
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At one point, McDonald's owned 51% of Chipotle (stock ticker is CMG). In hindsight, and hindsight is always of a 'oh I wish I would have bought such and such stock so many years ago' sort of thing. But, what an opportunity it was to buy Chipotle back when McDonald's was selling their stake when the stock was hovering around $47. It was the time to get long, oh how easy it seems to look back and make those statements. This is from back in September 2006: McDonald's, which still owns 51% of Chipotle, has said it plans

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Jim Cramer Piece in NY Times Mag

May 13, 2011
J. Webster
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Piece on Jim Cramer in the New York Times magazine, talks about getting taken down by Jon Stewart on The Daily Show and his life away from hedge funds and his show, Mad Money. He is a television personality, and something more; in the words of Mark Hoffman, the president of CNBC, “Jim Cramer has a fistful of Harvard degrees, eight figures in the bank and an I.Q. north of 150.” At the Elks club, or just about anywhere, he stands out. The guy loves stocks, you can't say he's not passionate and doesn't want the best

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Raj Rajaratnam’s Attorney Gives CNBC the Finger

May 11, 2011
J. Webster
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John Dowd, the attorney for Raj Rajaratnam, gives the finger to the CNBC cameras. And prior to that, when asked if he had any comments for CNBC he was succinct and to the point: “Get the f**k out of here." He can't be too happy of course, after his client was convicted of insider trading. A few jurors said the wiretaps of Mr. Rajaratnam were the deciding factor in the conviction. As Rajaratnam told traders exactly what to do as to avoid detection by the SEC. Dowd has said he will appeal, of course. And maybe give out some

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Michelle Meyer’s Past, Her Predictions

May 11, 2011
J. Webster
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Michelle Meyer, the new darling of wall street, and for good reason, just take a look at the video below to see why, went from working as the economist at Lehman Brothers to Barclays Capital to her current position at BofA Merrill Lynch Global as their senior economist. To me, that's quite a run in a very short period of time, from the firm that epitomizes the financial collapse, Lehman Brothers, to prognosticating about the current housing market for BofA, one of the worst offenders in the subprime mortgage collapse, with all of their Country Wide loans still on

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RENN, Facebook of China, Falls Below IPO Price

May 11, 2011
J. Webster
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Renren, the supposed Facebook of China is tanking today, down 10% and below its initial public offering price of $14. Is it time to put your foot in the water and buy some RENN? RENN jumped $4 on the offering a few days ago but has sunk down close to $13 today. There was a sign that this might be a risky purchase on the IPO price, but it did not deter investors on the offer. Reuters has the details. In a regulatory filing with the SEC before its public offering, Renren had said it had found a "material weakness"

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Citigroup Reverse Split

May 10, 2011
J. Webster
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The big 'C' went from $4 to $40, but not for any good reason related to the state of the company. No, they just did a reverse stock split. If you'd been away for some time and all of a sudden looked at your C shares trading a $40 you might have thought something good happened. Dream on. All that happened was your 10 shares now equal just 1 share. The common stock for Citi went from to 29 billion to 2.9 billion. What interesting is the big C, usually the most widely traded

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