Social Responsibility And The Logic Of Investing With The Empire
In a different vein, I had a few old fraternity brothers at the house last weekend. Guys I hadnt seen in more than 35 years, so it was fun to reconnect. One worked for Merck ( MRK ) and he wanted to know if his stock was a buy. Almost, I think. Back next week to see if the market shows any awareness for whats going on in D.C.
U.S. hedge funds investing heavily in Greek banks: FT
Name almost any investment, and I can come up with a valid objection to it, and not on hippy-dippy save the Earth or fair trade grounds, either: If you own a gold stock, theres a good chance the company is stomping all over the property rights of someone whose land happens to sit on top of a gold deposit. Third-world governments routinely cut sweetheart deals with mining firms to seize land held in the same family for generations, with zip for compensation. Or if you own any kind of government bond, your stream of income depends on the ability of that government to extract tax payments from the citizens in its jurisdiction. Meanwhile, if you shun the stocks of the major banks because they accept government bailouts, youve passed up monster rallies going back to late 2011 59% on J.P. Morgan Chase, 79% on Citigroup and 130% on Bank of America. Just sayin. Run down all 10 sectors of the S&P 500 and Ill find something objectionable. Health care? The government has totally co-opted the insurance industry and Big Pharma or maybe vice versa.
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hedge funds investing heavily in Greek banks: FT Money Sun Oct 6, 2013 6:46pm EDT (Reuters) – Hedge fund billionaire John Paulson’s Paulson & Co and a number of other U.S. hedge funds are investing aggressively into Greece’s struggling banking sector expecting it to turn a corner, the Financial Times reported on Sunday. The FT said the interest from these funds had prompted big banks in the country to lobby the government to consider speeding up the reprivatization of the sector. Paulson & Co could not be immediately reached for comment. John Paulson told the Financial Times that his fund had substantial stakes in Piraeus Bank and Alpha Bank. “(Both) are now very well capitalized and poised to recover (with) good management,” he was quoted as saying. The Financial Times citing unnamed sources said that Baupost, Eaglevale, Dromeus Capital, Falcon Edge, York Capital and Och-Ziff are among the other funds investing heavily in Greek banks.
There is the MIILF (mature investor Id like to follow): WarrenBuffett and Berkshire Hathaway Inc. /quotes/zigman/219651/quotes/nls/brk.a BRK.A +0.45% /quotes/zigman/583979/quotes/nls/brk.b BRK.B +0.36% , whose crisis-era investments have now yielded more than $10 billion in returns. Maybe youre into both, but Id bet many of you find one of them a little hotter. This is important, because knowing your investing fetish is a big determinant of continued success. Now, lets go a little deeper. Click to Play The case against Amazon stock In this week’s Barron’s Bounce, Jack Hough explains the bear case on Amazon.com. Plus: Penn National and PICO Holdings get a lift.