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The Times' Rorshach Geithner Story
Apr 27 20099:04am EDT -
Sinking Animal Spirits
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Counter-cyclical Urban Policy
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Be Your Own Counterfeiter
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Being Tim Geithner
Apr 25 200912:04pm EDT -
Notes From a Press Conference Naif
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What Good is the News?
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Stressful Enough
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Not Regretting the Pound
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Introducing the New Ford Squeeze
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Non-Economic Questions of the Day
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The Stress Test Blind Alley
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Happy Hour
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Recovery Without Rebalancing
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The Shape of Your Recession
Apr 23 20095:04pm EDT
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Great Moments in Punditry, Felix Salmon Edition
Me, in July 2007, on the subject of the IPO of Kingdom Holdings, Prince Alwaleed bin Talal's investment vehicle:
Fancy investing in an extremely successful hedge fund without paying 2-and-20? ...
Kingdom could be the next Berkshire Hathaway (maybe it already is the next Berkshire Hathaway), and I suspect that its shares will trade up sharply in the secondary market.
Ben Holland, yesterday, on the same subject:
Those who bought Kingdom Holding shares when Alwaleed took his company public in a July 2007 initial share sale have lost 55 percent.
The S&P 500, yesterday, was down about 50% from July 2007, and Berkshire was down about 30%.
Note to self: when a billionaire sells equity in his own investment prowess, that's normally a very good deal -- for him. For the schmucks who buy the shares, not so much.
