Michael Lewis Wearing Beats by Dre Headphones

May 18, 2014
J. Webster
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Even writer Michael Lewis wears Beats by Dre headphones....funny how he wore the big red headphones on 60 Minutes. Was he like wait, let me put my Beats headphones on so they get some air time too. Does he have a deal with Beats?

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Ronan From Flashboys Is Very Funny And Likes To Use the F Word

May 18, 2014
J. Webster
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Sort of an underlying theme in Michael Lewis' book Flash Boys is the Wall Street outsider or immigrant or someone who didn't go to all the top Wall Street type business schools ends up working on Wall Street and fighting for fairness in the market. One such character is Ronan Ryan, who likes to use the F word and also has some of the funniest things to say in the book. Ronan is the expert on high-frequency trading before there were experts on high-frequency trading. Here are just a few of his funny quotes in the book

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Bill Clinton’s Advice to Tim Geithner During Financial Crisis

May 9, 2014
J. Webster
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During Tim Geithner's time as Treasury secretary, when everyone hated all the big banks, Geithner sought out some advice from former president Bill Clinton on "how to pursue a more populist strategy". In other words, how to combat the lessen the backlash for the bailout of the banks and win over some Occupy Wall Street protesters and Tea Party members. Clinton basically told Geithner that the bailout of the banks and the investment firms like Goldman Sachs were going to be hated and there was nothing he could really do about it - poor Lloyd Blankfein though, wonder what the Goldman

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Warren Buffett’s Not Worried About Bank of America

May 3, 2014
J. Webster
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At the cult like annual shareholders meeting for Berkshire Hathaway, Warren Buffett had this to say about Bank of American's recent $4 billion mistake:
Responding to a question about Bank of America’s recent troubles — having to withdraw a stock buyback and suspend a planned increase in its dividend because it miscalculated its capital reserves by $4 billion — Mr. Buffett was fairly succinct. “That error doesn’t bother me,” he says. Bank of America will suffer the consequences of its mistake, but it hasn’t changed his view of the firm “one iota.” The Berkshire chief has invested $5 billion in preferred shares of

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Financial Tweet of the Week: Ivan the K

May 2, 2014
J. Webster
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The tweet below refers to how Bank of America didn't correctly calculate the debt it inherited when they purchased Merrill Lynch and will have to resubmit its plan to raise its dividend and do a share buyback. The Federal Reserve had approved a $4 billion stock buyback plan. Oops. Bank of America sunk 6% on the news earlier this week. This tweet pretty much sums it up.

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El Chapo Used a BlackBerry

Apr 30, 2014
J. Webster
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I don't think you'll see BlackBerry feature Mexican drug lord El Chapo in any BlackBerry commercials, but he favored the BlackBerry over any other cell phone. But it wasn't because he loved the phones keyboard or something, it was because he feared been tracked by an American cell phone company:
It has been reported, erroneously, that Guzmán used a statellite phone; in fact, his favored communication device was the BlackBerry. Like many narcos, he was suspicious of satellite phones, because most of the companies that manufacture them are American and the devices are relatively easy for law-enforcement officials to compromise. But

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Investing Wisdom from a 15 Year Old

Apr 26, 2014
J. Webster
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A high-school freshman gives out some wisdom about investing in the stock market and what it's like managing money that's not yours:
"First, that you shouldn’t have a two-month time frame in mind when investing. And second, that people do funny things when their own money isn’t at stake." (WSJ)
If you were to watch CNBC all day long you'd think you have to make drastic changes to your stock portfolio on a minute by minute basis. But that's not the way to invest in the market. You're better off with a long term investing strategy where you don't

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David Einhorn Exits Chipotle Short, Gave Him Gas

Apr 22, 2014
J. Webster
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Greenlight Capital's David Einhorn is out with his quarterly investor letter and in it he says he's given up on shorting Chipotle's stock - says it gave him gas. Actually, in the letter Einhorn never actually discusses the Chipotle short, just lists the stock/company in a table referencing notable changes. Yeah, if you lose 33% maybe you don't want to talk about it too much either. Einhorn actually thought Taco Bell was going to challenge Chipotle - that's why he was shorting the stock. See the Chipotle gave us "gas" line in the image below and read full letter

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Financial Tweet of the Week: Heidi N. Moore

Apr 17, 2014
J. Webster
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On the Morgan Stanley conference call, this was said in the Tweet below...not sure I really want to know what Morgan Stanley means when they over-penetrate clients. Perhaps that's when they try to sell clients a bunch of supposedly highly rated mortgage backed securities.

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Financial Pic of the Week: Jim Cramer

Apr 4, 2014
J. Webster
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I think Jim Cramer's expression says it all. It's like Cramer's being taken hostage. Those foam mascots of pizza and whatever the other guy is are for the GrubHub IPO. Yeah, it looks like the pizza guy is sticking his tongue out like Miley Cyrus.

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