The company with the world’s most expensive stock announced Friday that it was purchasing a company that sells nothing for more than 4 cents. While the price per item may be low, they make it up in volume, hitting $990 million in sales in 2005 and projecting $1.2 billion in 2006. Profit numbers were...
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Monthly Archives: December 2006
Berkshire Hathaway buys Electronic Parts Distributor TTI
Nuvelo(NUVO) and the dangers of development stage biotech
Maybe I was too harsh on Brian Hunter last week. This morning, I was greeted with a jolt of my own. One of my positions was down 80% in a single day. Fortunately for me, this isn’t the prelude to a death spiral. There’s no margin call to be answered. Such is the power...
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Pride Goeth Before And After A Fall
Bloomberg has posted a piece which explains in wonderful detail the events leading up to the spectacular implosion of Amaranth several months ago. In many ways, it reads like a shorter version of When Genius Failed, Roger Lowenstein’s excellent account of the collapse of Long Term Capital Management. I wrote earlier about my belief...
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