Word: stockely
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...remarkable transition from moribund planned economy to a booming capitalist one. But this year, Vietnam's outlook has dimmed. While GDP growth remains strong at more than 7%, the inflation rate has rocketed to 25%, there have been a large number of outbreaks of labor unrest and the stock market has plunged by nearly two-thirds since January, making it the worst-performing in the world...
...clear, however, whether anyone has that power. The sprawling Busch family is divided on the InBev offer, which at $65 per share is well above any price the long-stalled stock has seen from Wall Street. No single family member owns more than 1% of the firm...
...after the money's gone," he writes in his new book, Fooling Some of the People All of the Time. But they "really don't know what to do about fraud when they discover it in progress." Einhorn's Greenlight Capital manages $6 billion, most of it invested in stocks that Einhorn actually likes. But Greenlight also makes money short-selling the stocks he doesn't like. Six years ago, Einhorn stood up at a charity event and recommended shorting Allied Capital, a finance company that he was convinced was understating its loan losses. The company vehemently disagreed, igniting...
Last summer the bet against Allied finally started to pay off (the company's stock is down 50% over the past year), and Einhorn began shorting Bear and Lehman--the smallest and least diversified of Wall Street's big firms. These companies once made all their money off commissions and fees, but the bulk of their profits in recent years has come from making bets. At Lehman Bros., trading and investing on the firm's own account contributed about 60% of its $6 billion in pretax profits last year. Key to these profits is leverage, a.k.a. debt. But with high...
...Lehman has survived, although its stock price is down 70% from a year ago. Perhaps it's time for a few more such civil discussions about how Wall Street does business...