Michael Moritz, the venture capitalist who built a personal $1.5 billion fortune discovering the likes of Google, YouTube, Yahoo and PayPal, and taking them public, may seem preternaturally in tune with new media. But it is the imprint of old media — books by the thousands sprawling through his Bay Area [...]
To say I was shocked was an understatement. Last week John Mackey, CEO of organic grocer Whole Foods, admitted that from 1999 to 2006, he had been anonymously posting messages to Yahoo’s message board under the pseudonym “Rahodeb,” praising his company’s performance while knocking his competition and acquisition target Wild Oats. Shocking…. people are still [...]
Private-Equity players such as Cerberus Capital Management and Kohlberg Kravis Roberts have scored some of the biggest buyouts ever in recent months, including TXU, First Data Corp. and Chrysler. But are these cash-heavy private-equity (PE) firms racing against time? They need to win and ink future deals before the leveraged-buyout (LBO) window slams shut–a scenario [...]
The money managers at Dodge & Cox have heard the adage that a camel is a horse designed by committee. They politely disagree. Their horse, you see, keeps winning. Each of the firm’s four mutual funds has from nine to 18 portfolio managers, and every one gets equal say in which stocks and bonds to [...]
Lynn Buchinsky is the kind of entrepreneur who isn’t supposed to exist. Working just 12 hours a week, six months a year, she expects to earn more than $30,000 in 2007, thanks to the portable tennis program she created for day-care centers and schools in Solon, Ohio, just outside Cleveland. Launched last summer and designed [...]
(RALEIGH, N.C.)—Apple Inc.’s flashy new iPhones may be jamming parts of the wireless network at Duke University, where technology officials worked with the company Wednesday to fix problems before classes begin next month.
Bill Cannon, a Duke technology spokesman, said an analysis of traffic found that iPhones flooded parts of the campus’ wireless [...]
(KANSAS CITY, Mo.)—Almost a year after Sprint Nextel Corp. announced it would develop a mobile broadband network using WiMax technology, the wireless provider said Thursday it was teaming up with competing provider Clearwire Corp. to help build it. WiMax provides wireless Internet speeds comparable to DSL or cable modems. Similar to [...]
“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
If you can grasp this simple advice from Warren Buffett, you should do well as an investor. Sure, there are other investment strategies out there, but Buffett’s approach is both easy to follow [...]
A brief summary of the six concepts:
Market timing is for chumps and chimps. No kidding, folks, a chimpanzee throwing darts was able to create a portfolio that beat the nineties bull market for a few years. The market is totally random, irrational, and unpredictable. And it loves humbling the mighty. Try to beat it [...]
SHANGHAI, July 19 — China said today that its economy grew by at an 11.9 percent annual rate in the second quarter of this year, the fastest pace in more than a decade, reigniting fears that the economy is overheating.
The breakneck growth was fueled by a vast trade surplus, by booming retail sales and by [...]
WASHINGTON, July 18 — Ben S. Bernanke, chairman of the Federal Reserve, said on Wednesday that the economy was poised for moderate growth for the rest of this year but that continuing problems in the housing market had prompted the Fed to slightly reduce its growth forecast.
Separately, Mr. Bernanke acknowledged that [...]
HEIDELBERG, Germany, July 17 — A day after Michael Kingsley arrived in this romantic university town, he was in no mood to savor the cobblestone streets, the half-timbered houses or the flower-bedecked windows — to say nothing of the camera-ready castle on the hill.
Mr. Kingsley had left his camera battery and charger [...]
(NEW YORK)—Google Inc. is shortening the life span of its “cookie” data-tracking file — but it’s not clear whether the move would do much to enhance privacy.
Under the new policy, the cookies would expire automatically after two years, instead of in 2038 as is currently the case. However, the two-year period could [...]
(TOKYO)—An earthquake that killed at least 10 people and ravaged a nuclear plant also caused damage at one of Japan’s major auto parts suppliers, forcing the country’s top car makers to halt production for the next few days.
Toyota Motor Corp., Nissan Motor Co., Mitsubishi Motors Corp., Fuji Heavy Industries and Suzuki Motor [...]
(HONG KONG)—The Chinese government has launched a campaign to limit the number of hours teenagers spend online playing games.
Under new rules that took effect Monday, Chinese Internet gaming companies must install a program that requires users to enter their ID card numbers. After three hours, players under 18 are prompted to stop [...]
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