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This is what it’s like to watch a ‘Master of the Universe’ lose money.
The fascinating part of watching this rarefied group is that money doesn’t really matter to them at all. There’s one thing that is far more important.
In other news, the US unemployment rate fell to an eight-year low in January as the economy created fewer jobs than expected. It was the second-best month ever for employment growth in the 25-to-34-year-old bracket.
Jessica Alba’s online retailer, The Honest Company, is looking to go public.
Texan hedge fund manager J. Kyle Bass has stepped out as the anonymous short seller going after United Development Funding IV, a Texas-based real-estate-investment trust (REIT). Here is his presentation claiming the company
is a ‘Ponzi-like real estate scheme.’
And Steve Cohen’s hedge fund is investing big time in trading talent.
Here are the top Wall Street headlines at midday:
LINKEDIN IS CRASHING – LinkedIn’s stock is having its worst day ever.
Wall Street is taking a pounding – US bank stocks have plummeted this year and everyone wants to know why.
The Chicago Stock Exchange is being sold to a Chinese-led investor group – The Chicago Stock Exchange is being sold to a Chinese-led investor group.
UNILEVER CEO: The top 2% of society should help the other 98% – Inequality “undermines the fabric of society,” according to Unilever CEO Paul Polman.
GM VC boss: ‘The automotive ecosystem is changing’ – Jon Lauckner might have the best job in the traditional auto industry. He’s chief technology officer for General Motors, and he also runs GM Ventures, the automaker’s venture-capital arm.
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