Investing is one of those rare disciplines in which it really doesn’t pay to be original. This is money, not literature, and they don’t award Pulitzer Prizes for original work. You don’t want to mindlessly follow the herd, of course. That rarely ends well. Before you copy the trading moves of another investor, you need...Read More

Activist investor Carl Icahn has known to… ahem… talk his book. He’s been known to talk it quite loudly in fact. If “scream your book” was an expression, that would be an accurate description of what Carl Icahn does. So, we should probably take Mr. Icahn’s public love affair with Apple (AAPL) with a large...Read More

“In capital markets, price is set by the most panicked seller at the end of a trading day. Value, which is determined by cash flows and assets, is not. In this environment, the chaos is so extreme, the panic selling so urgent, that there is almost no possibility that sellers are acting on superior information....Read More

Carl Icahn is at it again.  After successfully lobbying (some might say “bullying”) Apple (AAPL) into aggressively repurchasing its undervalued stock, Carl Icahn penned another open letter to Apple CEO Tim Cook advocating more of the same, to “accelerate and increase the magnitude of share repurchase.”  By Icahn’s calculations, Apple is worth at least $203...Read More

On Thursday, September 25, Derek Jeter will take the field at Yankee Stadium for the last time.  A winner of five World Series and selected to the All-Star team fourteen times, he will be remembered as one of the greatest players of his generation and an all-around class act. Yankees fans are queuing up to...Read More