Munger One, Ackman Zero
The recent spat between Charlie Munger and Bill Ackman is quite amusing. Doesn’t Mr. Ackman know this is one battle that he can’t win? Regardless of whether he is right or wrong, to attack the Oracle of Omaha and his partner is like attacking Santa Claus. Buffet and Munger are untouchable. And to think of commenting about Coca Cola, Heinz ketchup or anything else they have their hands in simply a waste of time, energy and resources. It is funny to watch, however, and I look forward to Mr. Munger’s reply. Hopefully, he is preparing a clever retort that hopefully is full of the wit and wisdom he displayed at […]
Shooting fish in a barrel
Hedge funds are clearly the evil that men and women do that live on and on. It is clear from recent reports in the media, comments from both sets of Presidential candidates, comments from the new Speaker of the House, comments from other members of the House and Senate, and comments even from an old friend from New Jersey who visited this weekend. Hey, I think it’s great. The venom that has been spewed about the global hedge fund industry really tells me one big thing: Hedge fund managers are getting something right. Sure, people attack what they don’t understand, but they especially attack what they can’t even begin to […]