Fortune asked 13 money managers about the current downturn, and what they're buying (or not buying) now.
The List: John Neff, Leon Cooperman, Christopher Ailman, Michael Steinhardt, Whitney Tilson, Jeff Mortimer, Nouriel Roubini, Bill Stone, Bob Rodriguez, Ron Muhlenkamp, Ken Heebner, Mustafa Sagun
Wednesday, February 13, 2008
Buffett's Big Muni Bond Offer: CNBC Interview Transcript
This morning on CNBC's Squawk Box, Warren Buffett publicly revealed for the first time that he has offered to reinsure $800 billion in municipal bonds now covered by the troubled insurers MBIA, Ambac and FGIC.
That would effectively give those bonds a AAA credit rating. So far, he says one insurer has turned him down and he hasn't heard from the other two.
This is a transcript of this morning's live phone conversation:
That would effectively give those bonds a AAA credit rating. So far, he says one insurer has turned him down and he hasn't heard from the other two.
This is a transcript of this morning's live phone conversation:
Tuesday, February 12, 2008
How Lee Ainslie does it
As [Lee] Ainslie [founder of Maverick Capital Ltd. of Dallas] began attracting assets and adding investment staff, he created a business model that differs slightly from those of most large funds, which generally fall into two categories.
One is the Julian Robertson [founder and managing partner of Tiger Management Corp. of New York] approach, in which one or two guys run the show and make virtually all the investment decisions.
The other, the model preferred by Paul Jones's Tudor Investment Corp. [of Greenwich, Conn.] and Steven A. Cohen's SAC Capital [of Stamford, Conn.] is to have various desks, each more or less auton-omous, making investment decisions for their own books.
A leader at the helm of the firm takes care of risk management and asset allocation.
Maverick's model is a hybrid of the two. The firm has six industry sector heads, most of whom are more or less the same age as Mr. Ainslie.
One is the Julian Robertson [founder and managing partner of Tiger Management Corp. of New York] approach, in which one or two guys run the show and make virtually all the investment decisions.
The other, the model preferred by Paul Jones's Tudor Investment Corp. [of Greenwich, Conn.] and Steven A. Cohen's SAC Capital [of Stamford, Conn.] is to have various desks, each more or less auton-omous, making investment decisions for their own books.
A leader at the helm of the firm takes care of risk management and asset allocation.
Maverick's model is a hybrid of the two. The firm has six industry sector heads, most of whom are more or less the same age as Mr. Ainslie.
A Sense of the Future
How do you predict the future without making a fool of yourself? You can extrapolate current trends to their logical next steps, but unless you stick to the weather -- hurricanes a-comin' next year! -- you're likely to be wrong. Human beings should have been cloned by now. Gasoline should be pumping at $5 a gallon. California, to the disappointment of many, has yet to collapse into the sea along its fault lines, metaphorical or otherwise. What, then, is the point of predicting the future at all?
Saturday, February 9, 2008
Transcript: Tony Tan of Singapore’s Government Investment Corporate
Interview with Tony Tan, deputy chairman and executive director of the Government Investment Corporation of Singapore at Davos, January 25
Subscribe to:
Posts (Atom)