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 […]
We might be at the top! Or just stupid…
I hate to say it — in fact I don’t think I’ve ever said it in the more than 20 years that I’ve been working in and writing about hedge funds — but we might be at the top. The bloom, as they say, might be off the rose. You see, it was reported earlier this week that a former governor/senator/failed CEO is about to or is considering or talking about launching a hedge fund. And many predict that this individual will have great success. Well folks, if this person, no names here, succeeds, it might be time to give the industry, and more important, its investors a good hard […]