About a week and a half ago, Greenlight Capital's David Einhorn took a shot at Tesla CEO Elon Musk in a third-quarter investor letter.
"[C]omplacent shareholders have been willing to look past years of over-promising and under-delivering from a promotional CEO," Einhorn wrote."Elon Musk’s ability to spin a yarn and keep a story going seems to mesmerize his investors, blinding them to the challenges the company is facing."
Einhorn is right that Musk and Tesla have been overpromising and und
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Tesla might be on the verge of a breakthrough that would change its 'overpromising' reputation (TSLA)
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Bill Ackman is moving his hedge fund to the far west side of Manhattan
Bill Ackman is moving his hedge fund, Pershing Square Capital, to the far west side of Manhattan.
The new 67,000-square-foot office will be at 787 11th Avenue, a block from the West Side Highway, according to a new release from Georgetown Company, the developer.
The hedge fund takes its name from its first location, near Pershing Square north of Grand Central Terminal, so the move to its new digs, on a 15-year lease, puts it far from home.
The firm is currently located a few blocks south of -
Those who base relationships on politics 'haven't lived' — a bipartisan marriage that works
His wife's ardent support for abortion rights didn't matter when a doctor told Richard Brookhiser that, at age 37, he had a particularly dangerous type of testicular cancer.
Her husband's impassioned support for the Second Amendment didn't matter when a doctor told Jeanne Safer that, at age 64, she had breast cancer.
She votes down the Democratic line each election; he's a committed conservative. But that still didn't matter when, a year later, Safer learned she also had a rare form of leukemia -
'Prepare for volatility': Wall Street braces for a wild Election Day
Markets have been a bit wobbly the past couple of weeks.
In fact, the S&P 500 closed down for the ninth-straight day Friday — something that has not happened since December 1980. (However, the actual percentage decline was not enormous.)
Stocks have been punctured as of late by a combination of mixed third-quarter earnings results as well as tightening in polls ahead of Tuesday's election.
And as we get closer to November 8, analysts and economists argue that we could be in for so -
'Doctor Strange' dominates the weekend box office with a huge $85 million opening
There hasn't been a huge box office opening since "Suicide Squad" had a record-breaking $133.6 million opening back in August. So Hollywood was excited to see a Marvel movie being released in November and it didn't disappoint.
"Doctor Strange" took in an estimated $85 million this weekend, according to Exhibitor Relations, making it far and away the biggest opening weekend so far this fall and in the top ten openings of 2016 (and the 14th consecutive #1 debut for a film from the Marvel Cin -
A hedge fund wrote a letter to investors explaining why they should read a classic book about cognitive biases
Texas-based hedge fund Voss Capital didn't pontificate on Fed rate hikes or the future of global markets in its quarterly letter to investors.
Instead, the fund's managers looked internally, and wrote a nine page letter drawing upon Nobel Prize in Economics laureate Daniel Kahneman's book, “Thinking, Fast and Slow,” and how it shapes the culture and investment process at the firm.
The book focuses on inherent human biases and irrational decision making. Voss Capital ai -
Tim Cook laid out the playbook for Apple's next big thing (AAPL)
Apple is the most valuable company in the world, and it makes a lot of profit, but its long-term future depends on it coming up with a new product, a new "one more thing."
The Apple Watch, which has been selling poorly for Apple, isn't going to do it.
Apple needs a new platform. And Apple CEO Tim Cook knows it. That's why he's been dropping hint after hint that Apple's next major technology initiative is augmented reality — basically, integrating software into the -
GARY SHILLING: A President Trump may be negative for stocks, but great for these 2 assets
Gary Shilling is the president of A. Gary Shilling & Co., and was Merrill Lynch's first economist in the 1980s.
We asked Shilling about the election, and if he has any update to his forecast for a 1% yield on the 10-year Treasury.
This interview was edited for length and clarity.
Here we go:
Akin Oyedele: The consensus seems to be that a Trump win might not be positive for markets. Do you agree, and is there an exaggeration of the market reaction if Trump wins?
Gary Shilling: -
Everyone wants a piece of the drug-industry and it's one reason prices are rising so fast
Don’t just blame drug companies for rising prescription prices. For all the outrage over Mylan increasing EpiPen prices by 500%, and insulin prices, which are up 300% over the past decade, drug prices are a lot more complicated than pointing the finger at a lone villain.
For a single prescription drug, there are often five companies involved, from development all the way to your medicine cabinet. Each company makes a tidy profit along the way. And as prices increase, so do those profi -
Morrisons on why Christmas campaigns should not be ‘isolated events’
Morrisons has launched its Christmas TV campaign, with two ads focusing on real-life staff including butchers, bakers, greengrocers and wine specialists.
Unsurprisingly spotlighting Christmas products such as turkey and mince pies, the campaign show how in-store expertise can help fuel festive family moments such as a game of Trivia Pursuit.
It also represents a continuation of the slogan Morrisons Makes It, which was first introduced back in Easter in a bid to give the brand a clearer point of -
Morrisons: Christmas ads should not be isolated events
Morrisons has launched its Christmas TV campaign, with two ads focusing on real-life staff including butchers, bakers, greengrocers and wine specialists.
Unsurprisingly spotlighting Christmas products such as turkey and mince pies, the campaign show how in-store expertise can help fuel festive family moments such as a game of Trivia Pursuit.
It also represents a continuation of the slogan Morrisons Makes It, which was first introduced back in Easter in a bid to give the brand a clearer point of
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