The SEC and Warren Buffett
futureofcapitalism.com

Warren Buffett and the Securities and Exchange Commission are in a skirmish over whether Berkshire Hathaway should disclose the $344,490 a year it spends on Mr. Buffett's security as compensation, The Wall Street Journal reports:

Nor is it clear why Berkshire was arguing over including security expenses from the formal disclosure of Mr. Buffett's pay, something that is fairly standard for other companies. Perhaps one factor is the mystique surrounding the relatively low pay for Mr. Buffett. Adding in the security expenses would significantly pad Mr. Buffett's reported compensation.

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The Shorts and St. Joe
futureofcapitalism.com

"St. Joe: Short Sellers Win Round One as SEC Noses Around" is the headline of a Wall Street Journal Deal Journal item about the Florida real estate concern St. Joe that we wrote about back on October 14 in the post headlined "Einhorn Versus Berkowitz." If you had bought the stock back on October 14, at about $19, or in November, when it was down around $17, you would have made some money — the stock closed yesterday at about $23 a share and in pre-market trading this morning is down to around $21 a share. On October 13 Mr. Einhorn had announced the stock was worth $7 a share. It's somewhat remarkable that the Journal could characterize this course of events as a "win" for the short sellers.

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Steve Cohen's 'Take-Home'
futureofcapitalism.com

From a Wall Street Journal "dossier" on hedge fund manager Steven Cohen of SAC Capital: "Cohen regularly takes home personal compensation of $1 billion a year, including a roughly $1 billion paycheck for 2010 after 16% gains in his flagship fund, the Journal has reported."

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The SEC and Warren Buffett
futureofcapitalism.com

Warren Buffett and the Securities and Exchange Commission are in a skirmish over whether Berkshire Hathaway should disclose the $344,490 a year it spends on Mr. Buffett's security as compensation, The Wall Street Journal reports:

Nor is it clear why Berkshire was arguing over including security expenses from the formal disclosure of Mr. Buffett's pay, something that is fairly standard for other companies. Perhaps one factor is the mystique surrounding the relatively low pay for Mr. Buffett. Adding in the security expenses would significantly pad Mr. Buffett's reported compensation.

Read More...

The Shorts and St. Joe
futureofcapitalism.com

"St. Joe: Short Sellers Win Round One as SEC Noses Around" is the headline of a Wall Street Journal Deal Journal item about the Florida real estate concern St. Joe that we wrote about back on October 14 in the post headlined "Einhorn Versus Berkowitz." If you had bought the stock back on October 14, at about $19, or in November, when it was down around $17, you would have made some money — the stock closed yesterday at about $23 a share and in pre-market trading this morning is down to around $21 a share. On October 13 Mr. Einhorn had announced the stock was worth $7 a share. It's somewhat remarkable that the Journal could characterize this course of events as a "win" for the short sellers.

Read More...

Steve Cohen's 'Take-Home'
futureofcapitalism.com

From a Wall Street Journal "dossier" on hedge fund manager Steven Cohen of SAC Capital: "Cohen regularly takes home personal compensation of $1 billion a year, including a roughly $1 billion paycheck for 2010 after 16% gains in his flagship fund, the Journal has reported."

Read More...