Wednesday, July 18, 2007
NYTimes - Bear Stearns Says Battered Hedge Funds Are Worth Little|
Bear Stearns told clients in its two battered hedge funds late yesterday that their investments, worth an estimated $1.5 billion at the end of 2006, are almost entirely gone. In phone calls to anxious investors, Bear Stearns brokers reported yesterday that May and June had been devastating months for the portfolios.
The best summary of the Bear Stearns debacle, from Naked Shorts: BS BS, translated
Some key sentences, translated:
Tuesday, July 17, 2007
Epicenter blog - Mike Moritz: The S&P 500 Beats 80% of Venture Funds|
Sequoia Capital's Mike Moritz, the uber-VC who earned his reputation backing Google, Yahoo, eBay, Cisco and Apple, was pessimistic about the future of the venture capital industry at a Fortune-sponsored conference Friday. "People would be far better off investing in an index fund," rather than putting their money into a VC fund, Moritz claimed, estimating that fewer than 20% of VC funds outperform the S&P 500.
Thursday, July 12, 2007
AP: Beijing steamed buns include cardboard|
Chopped cardboard, softened with an industrial chemical and flavored with fatty pork and powdered seasoning, is a main ingredient in batches of steamed buns sold in one Beijing neighborhood, state television said.
Friday, July 06, 2007
Globe and Mail - 'Made in Canada' - via China|
"Anything at all that comes from China that's edible we are not going to eat now," said Ms. Wood, a retired secretary in Lac-des-Îles, Que. She's even nervous about putting leftovers in made-in-China plastic containers.
Thursday, July 05, 2007
NYTimes - China Finds Poor Quality on Its Store Shelves|
| The Chinese government PR is getting drowned out by all the defective product reports.|
The General Administration of Quality Supervision, Inspection and Quarantine said the survey, conducted in the first half of this year, showed quality and safety improvements compared with conditions in the period a year earlier. But the announcement also suggested that Chinese consumers are at serious risk of being harmed by purchasing tainted foods, substandard goods and suspect or defective equipment.
NYTimes - IPhone-Free Cellphone News|
| Very cool idea.|
It’s called T-Mobile HotSpot @Home, and it’s absolutely ingenious. It could save you hundreds or thousands of dollars a year, and yet enrich T-Mobile at the same time. In the cellphone world, win-win plays like that are extremely rare.