Yesterday I told you how “due diligence” saved publisher Steve Brill from buying a Moscow newspaper from people who didn’t own it.
Today I get to tell you my own latest Russian escapade. I tell you this largely to make you feel good (who doesn’t enjoy another person’s problems, especially when they’re not contagious?) but […]
The phrase, of course, is “due diligence,” and it means (at least to this layman), the basic verification and research any fiduciary needs to perform before going ahead with a deal, especially a merger.
I’m not sure what the phrase would be in Russian, but my friend Steve Brill tells a wonderful story of why […]
“I would love to read your opinion about the Welfare Reform Bill. Frankly, I’m worried.” — David Bruce (not a welfare recipient himself)
I’m worried, too, but here’s my optimist’s view:
The new law will jog 20% of the people — those who really just need a good sharp push — off the welfare rolls and […]
What follows takes off directly from yesterday’s comment. If it seems familiar to a few of you, that’s because it’s from an op-ed I had in The Wall Street Journal a while back. Forgive my reprising it here. But until we get this law, I can’t shut up about it. (Feel free to “clip” […]
This is just so dumb.
In 1991, I took out a $400,000 five-year loan on two small Miami apartment buildings. By now I’ve paid it down to about $250,000, and the five years are up. Pay-off time.
In the course of these five years, Miami real estate — especially on “South Beach,” where one […]
Around Memorial Day I told you about my friend Jim Halperin, rare-coin magnate turned spare-time writer. He had written his first ever anything, a novel called The Truth Machine.
Ah, the difference a single machine can make [I wrote]. The automobile, say. The telephone. Or how about a machine that can always tell when […]
From Michael, a young father who gives new meaning to the phrase “read the prospectus” (or even the phrases “read the brochure” and “read what you’re signing”):
“I have three children, ages 5, 2, and 2 weeks. For my first two, I opened Twentieth Century Giftrusts three and two years ago, respectively. They both have […]
When Michael Steinhardt was running his famous hedge fund, he was asked to reveal the most important thing the average investor could learn from him. “That I’m their competition,” he said.
Think about THAT the next time you decide to buy or sell a stock based on a hunch (though better a hunch than a […]
I’ve never been too enthusiastic about annuities, for reasons I’ve detailed from time to time. They’re heavily promoted (because the sales commissions are high), but that doesn’t make them a good investment. Once you get sucked into an annuity it’s not so easy to get out or even switch managers. And you have annual administration […]
I ran a series of “open letters” in Daily Variety a few years ago trying to make actors and directors and producers think twice about promoting cigarettes.
Sometimes they do it for cash. (Philip Morris paid $42,500 to get Lois Lane to smoke Marlboro lights in one of the Superman movies and $350,000 to […]
Quote of the Day
On Hollywood Squares, gay comedy writer Bruce Vilanch was asked: You are the most popular fruit in America. What are you? His answer: Humble. (The correct answer? Banana.)~.
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