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☆ 'Oracle of Boston' Seth Klarman's value investing principles have stood the test of time
▼ + stars: | 2023-07-31 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Baupost Group's Seth Klarman, nicknamed "the Oracle of Boston," is revered in value investing circles for his disciplined investment philosophy, maybe because his style has stood the test of time. The billionaire hedge fund manager has been an almost religious follower of Benjamin Graham's investing style, buying out-of-favor and undervalued assets to ensure a margin of safety. Klarman has drawn comparisons to Warren Buffett — Buffett being a student of Graham's at Columbia University — for his patient, disciplined investment style. The 66-year-old Harvard and Cornell grad published his investment book, "Margin of Safety," in 1991. The hedge fund manager posted a mid-single digit decline last year, beating the S & P 500 which fell nearly 20%, the Financial Times reported.

Persons: Baupost, Seth Klarman, Benjamin Graham's, Klarman, Warren Buffett — Buffett, Columbia University —, Benjamin Graham, David Dodd, Klarman hasn't Organizations: Oracle, Boston, Columbia University, Harvard, Cornell grad, CNBC, Financial Times Locations: Baupost

☆ American Airlines worker found to have been killed by accident after an airline investigator suggested it may have been suicide, report says
▼ + stars: | 2023-07-23 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Austin police ruled an AA worker was killed in April by accident, per the Austin American-Statesman. The tug that killed Michal Ingraham was in an incident 10 days before his death, per the report. An AA investigator had argued that Ingraham's death was a suicide, according to the newspaper. An American Airlines employee who died in April when he was involved in a crash on the airport tarmac was found to have been killed by accident, after a corporate investigator for the airline suggested it may have been a suicide, a report says. Both the Travis County medical examiner and police concluded that the worker had been killed by accident, per the report.

Persons: Austin, Michal Ingraham, Lynn, Ingraham's, Menzies, Menzies didn't Organizations: Austin American, Statesman, AA, Morning, American Airlines, Austin, Bergstrom International Airport, Police, Occupational Safety, Health Administration, OSHA, Austin Police Department Locations: Travis

☆ Truth Behind Tech Industry's Fake Work Problem: Bad Managers, Bosses
▼ + stars: | 2023-07-10 | by ( Hugh Langley | Grace Kay | ) www.businessinsider.com time to read: +19 min

The tech employees spoke with us on the condition of anonymity to avoid professional reprisal. There's only one real culprit for the culture of "fake work," he said. The latest version of fake work emerged as part of the tech industry's pandemic-driven boom and bust. "I think COVID was an accelerator for fake work because a lot of these tech companies hired. As for Graham, he's since moved to another tech company, where he said he felt his contributions were more valued.

Persons: Graham, wouldn't, Keith Rabois, Rabois, Brit Levy, Scott Latham, University of Massachusetts Lowell, Brent Peterson, Gaylan Nielson, Rich Moran, " Moran, Melina Mara, he'd, Moran, Anna Tavis, Stewart Butterfield, Bloomberg's, LINDSEY WASSON, it's, Salesforce, What's, Mark Zuckerberg, Sundar Pichai, Zuckerberg, Brad Glasser, Meta, Greg Selker, Stanton Chase, Jessica Kennedy, Kennedy, NYU's Tavis, Hugh Langley, Grace Kay Organizations: Amazon, Alexa, Big Tech, Google, University of Massachusetts, Washington, Getty, Meta, Microsoft, overhiring, New York University's School, Professional Studies, Slack, Command, Bloomberg, Vanderbilt University, Companies Locations: New, Salesforce, he's

☆ GOP Sen. Lindsey Graham was called a 'traitor' and roundly booed as he spoke at a South Carolina rally featuring Trump
▼ + stars: | 2023-07-02 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Sen. Lindsey Graham was booed on Saturday at a rally that featured former President Donald Trump. Some of the conservative attendees in the crowd called the South Carolina lawmaker a "traitor." Even Lindsey down here, Senator Lindsey Graham. We love Senator Graham," Trump said. "We have our progressive senator from South Carolina, Lindsey Graham.

Persons: Sen, Lindsey Graham, Donald Trump, Trump, Graham, —, Graham —, y'all, Brett Kavanaugh's, Amy Coney Barrett's, we've, Count me, Graham didn't, impeaching Trump, Lindsey, he's, He's Organizations: South, Service, Democrats, Trump, Mar Locations: South Carolina, Pickens, Lago, South Florida

☆ Seth Klarman says investors face the challenge of an 'everything bubble'
▼ + stars: | 2023-06-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

When billionaire hedge fund manager Seth Klarman looks at the investing world today, he sees asset bubbles pretty much everywhere. Historically low interest rates, even zero rates, have precipitated that bubble." With the investing world now ruled by trendy bubble-like investments such as Bitcoin and meme stocks, Klarman said the need for a sound, practical approach to investing is vital. In a letter to clients at the end of 2022, he accused the U.S. central bank of constructing a "financial fantasyland" of artificially low interest rates and liquidity pumping. In the current environment, investors face challenges relating to economic uncertainty and a central bank holding interest rates high to battle inflation.

Persons: Seth Klarman, we've, Klarman, Benjamin Graham, David Dodd, You've, Warren Buffett — Buffett, Columbia University —, Graham, Dodd Organizations: CNBC, Cornell, Columbia University, Buffett, Liberty, Federal Reserve Locations: Boston, U.S

☆ Fox News names Jesse Watters as replacement for Tucker Carlson primetime slot
▼ + stars: | 2023-06-26 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Jesse Watters host of "The Five" interviews Jenna Bush Hager and Barbara Bush during "The Five" at Fox News Studios on November 13, 2017 in New York City. Fox News has named Jesse Watters as the newest star of its 8 p.m. ET primetime slot, as the network looks to boost ratings two months after ousting Tucker Carlson from the post. He is currently the host of the 7 p.m. opinion show "Jesse Watters Primetime," and appears regularly on "The Five," one of Fox News' highest rated programs. There was no sendoff for Carlson and his "Tucker Carlson Tonight," which had long been one of Fox's most-watched shows.

Persons: Jesse Watters, Jenna Bush Hager, Barbara Bush, Tucker Carlson, Watters, Laura Ingraham's, Sean Hannity's, Greg Gutfield's, Suzanne Scott, Laura Ingraham, Sean Hannity, Greg Gutfeld, Carlson Organizations: Fox News Studios, New York City . Fox News, Fox News, FOX, Fox, Fox Corp, Systems, Twitter, Dominion, NBC Locations: New York City

☆ What GOP presidential candidates are saying about abortion a year after Dobbs
▼ + stars: | 2023-06-23 | by ( Isabelle Schmeler | Isabelle Schmeler Is An Executive Assistant For Nbc'S Political Unit. | ) www.nbcnews.com time to read: +4 min

While all of the candidates gave a nod to the “pro-life” movement, some stopped short of supporting Sen. Lindsey Graham’s, R-S.C., proposal for a 15-week federal abortion ban, which he has called on the GOP presidential candidates to support. Pence was the only candidate to specifically support Graham's bill on the first day of the conference. Ramaswamy has previously said he does not support a federal abortion ban. He said he plans to sign a federal abortion ban if elected president. Ron DeSantisDeSantis stuck by the six-week state abortion ban he signed in April, but he would not engage on Graham's proposal for a 15-week federal ban.

Persons: Roe, Wade, Sen, Lindsey Graham’s, Mike Pence Pence, “, Pence, Vivek Ramaswamy Ramaswamy, ” Ramaswamy, Ramaswamy, Asa Hutchinson Hutchinson, ” Hutchinson, he’s, Carolina Sen, Tim Scott Scott, Dobbs, ” Scott shied, Miami Mayor Francis Suarez Suarez, Chris Christie, Republican ”, Christie, Donald Trump, ” Christie, Ron DeSantis DeSantis, DeSantis, hasn't Organizations: Republicans, GOP, Here’s, Republican, Former Arkansas Gov, Miami Mayor, Miami, Former New Jersey Gov, Florida Gov Locations: Arkansas, Carolina, America, New Jersey, Florida

☆ A prominent venture capitalist said remote work ‘fooled’ leaders because it worked initially
▼ + stars: | 2023-06-12 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Y Combinator co-founder Paul Graham said remote work "fooled" leaders at the start of the pandemic. Major firms including Amazon, Meta, and Apple have ordered workers back to the office recently. Partly I think because remote work does work initially, if you start with a system already healthy from in-person work ... And partly because it seemed to solve recruiting, which is always a bottleneck." Graham's comments come as a number of major companies reverse their flexible working policies including Amazon, Apple, and Goldman Sachs. Graham joins a list of influential figures who are taking a stand against remote work including Elon Musk who has famously waged a war against the practice calling it "morally wrong."

Persons: Combinator, Paul Graham, Graham, —, Y Combinator, I've, Goldman Sachs, Elon Musk, Musk, Tesla, Scott Galloway Organizations: Amazon, Apple, Service, Twitter, Meta

☆ Taylor Swift, Warren Buffett, and Elon Musk: an elite investor isn't shy of name-dropping to promote a niche type of fund
▼ + stars: | 2023-06-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Discounted closed-end funds aren't exactly the most headline-grabbing part of Wall Street. The elite investor also mentioned Elon Musk while explaining his fondness for these niche funds. "The majority of Warren Buffett's holdings when he was about to enter that class were discounted closed-end funds," Weinstein said. "In closed-end fund arbitrage, you can actually control your destiny," he said. Weinstein's firm takes activist positions in closed-end funds run by BlackRock and other big asset managers.

Persons: Boaz Weinstein, Taylor Swift, Warren Buffett, Elon Musk, —, Scott, Weinstein, Benjamin Graham's, Warren Buffett's, Elon, Buffett, Ed Thorp, Warren Organizations: Service, Saba Capital Management, Bloomberg, Berkshire Hathaway, SpaceX, Twitter, BlackRock Locations: Wall

☆ Y Combinator founder Paul Graham thinks stock market investors are missing out on the AI boom
▼ + stars: | 2023-06-02 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +5 min

In a recent tweet, Graham said he believes all the good AI companies to invest in are still private. This, he said, leaves few options for those public market investors wanting to invest in AI. Paul Graham says public market investors are missing out on a potential way to get in on the AI boom, since all the good companies to invest in are still private. For instance, Google recently led a $100 million round in generative AI startup, Runway, Insider reported. Yet, private investing in AI startup innovations may be where the biggest potential for a huge windfall, as Graham alludes to.

Persons: Graham, Paul Graham, Charles Schwab –, haven't, It's, Google's Bard, ChatGPT Organizations: Nvidia, Microsoft, Morning, Vanda Research, Apple, Google

☆ Fact Check-Longer video shows Lindsay Graham did not call Russians dying ‘the best money we’ve ever spent’
▼ + stars: | 2023-05-31 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Footage of Lindsey Graham in Kyiv shows the Republican Senator did not say the best money the U.S. had ever spent had gone towards “Russians dying.” A video shared by the Ukrainian president’s office was cropped in a way that jumps from one phrase to another. A longer clip shows the two remarks were made at different moments of the conversation. During the meeting, Zelenskiy thanked Graham for visiting Kyiv and praised the military assistance provided. Graham said this was “the best money we’ve ever spent.”Then, Graham said Ukrainians resisting the invasion reminded him of “our better selves in America. “And we will be.”Graham replied: “And the Russians are dying.”The U.S. senator received criticism from Moscow after the cropped video went viral.

Persons: Lindsey Graham, Volodymyr Zelenskiy, “, ”, we've, we’ve, Zelenskiy, Graham, ” Zelenskiy, ” Graham, Dmitry Medvedev Organizations: Kyiv, Russian Security Locations: Kyiv, Ukrainian, Ukraine, America, U.S, Moscow, Russia

☆ Fact Check-Longer video shows Lindsey Graham did not call Russians dying ‘the best money we’ve ever spent’
▼ + stars: | 2023-05-31 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Persons: Lindsey Graham, Volodymyr Zelenskiy, “, ”, we've, we’ve, Zelenskiy, Graham, ” Zelenskiy, ” Graham, Dmitry Medvedev, Read Organizations: Kyiv, Russian Security, Reuters Locations: Kyiv, Ukrainian, Ukraine, America, U.S, Moscow, Russia

☆ Lindsey Graham is now a wanted man in Russia, and he said he will wear the arrest warrant like a 'badge of honor'
▼ + stars: | 2023-05-30 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Russia issued an arrest warrant for Lindsey Graham after an edited video of him was posted online. Graham said that he would wear the arrest like a "Badge of Honor." Graham said in a statement on Monday that he would "wear the arrest warrant issued by Putin's corrupt and immoral government as a Badge of Honor." Ukrainian President Volodymyr Zelenskyy's office released an edited video from Graham's visit to Kyiv on Friday, where two clips of Graham were stitched together. The sequence of statements in the edited video, which made it appear that Graham was jubilant about Russians dying, angered Russian officials.

☆ Russia puts U.S. Senator Graham on wanted list - Russian media
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

Senator Lindsey Graham speaks during an interview with media, as Russia's attack on Ukraine continues, in Kyiv, Ukraine May 26, 2023. Senator Lindsey Graham on a wanted list, Russian media reported on Monday, citing the ministry's database. After Russia criticised the remarks, Ukraine released a full video of the meeting which showed the two remarks were not linked. Graham disputed Russian criticism of his support for Ukraine on Sunday, saying he had simply praised the spirit of Ukrainians in resisting a Russian invasion with assistance provided by Washington. A South Carolina Republican known for his hawkish foreign policy views, Graham has been an outspoken champion of increased military support for Ukraine in its battle against Russia.

"And the Russians are dying," Graham said, according to a video supplied by the Ukrainian presidential press service. In the next part of the video edit, Graham says with a smile: "It's the best money we've ever spent." The exact chronology of Graham's remarks was unclear from the video supplied by the Ukrainian presidential press service. "The old fool Senator Lindsey Graham said that the United States has never spent money so successfully as on the murder of Russians," said Russian Security Council Deputy Chairman Dmitry Medvedev. It has been a good investment by the United States to help liberate Ukraine from Russian war criminals."

☆ Tucker Carlson's texts from the Dominion lawsuit reveal the real Fox News
▼ + stars: | 2023-04-24 | by ( Brent D. Griffiths | Rebecca Zisser | ) www.businessinsider.com time to read: +7 min

Private texts reveal incredible detail about Fox News' inner workings. Among the messages is a thread where Tucker Carlson privately bashes Trump. Top Fox News hosts, including Tucker Carlson, privately insulted Chris Wallace and hatched a plot for a rebellion — November, 16, 2020. In a group chat between the three biggest hosts, Carlson, Hannity, and Ingraham, few colleagues, including then-"Fox News Sunday" host Chris Wallace, were spared. In a group chat between the three biggest hosts, Carlson, Hannity, and Ingraham, few colleagues such as then-"Fox News Sunday" host Chris Wallace were spared.

☆ Lindsey Graham repeats false claim that Democrats support 'abortion at the moment of birth' on CNN
▼ + stars: | 2023-04-23 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

Graham falsely claimed that Democrats support abortion up until the "moment of birth." Democrats in fact support legislation allowing abortion after viability only when the mother's life and health are at risk. The senator repeated claims that Democrats support elective abortion at birth – a claim that medical experts say is false. Abortion up to the moment of birth, taxpayer-funded," Graham, a Republican, told CNN's Dana Bash on "State of the Union." They introduced legislation that allowed abortion demand with taxpayer-funded – you paying for it, the taxpayer – up to the moment of birth," Graham responded.

☆ Lindsay Graham rips Marjorie Taylor Greene's defense of the accused Pentagon leaker, calling it 'one of the most irresponsible statements she can make'
▼ + stars: | 2023-04-17 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Sen. Lindsey Graham criticized Rep. Marjorie Taylor Greene's defense of the accused Pentagon leaker. Graham called Greene's stance "irresponsible" and one that puts America "in serious danger." Marjorie Taylor Greene🇺🇸 (@RepMTG) April 13, 2023"Jake Teixeira is white, male, christian, and antiwar. Hours after Graham's criticism of Greene, Greene posted a doctored image of him on Twitter holding a Bud Light can that featured a photo of trans influencer Dylan Mulvaney. Marjorie Taylor Greene🇺🇸 (@RepMTG) April 16, 2023Conservatives have blasted Bud Light's recent partnership with Mulvaney and have called for a boycott of the brew.

☆ Clarence Thomas' billionaire benefactor Harlan Crow has also spent thousands boosting Ted Cruz, Marco Rubio, and an anti-Trump super PAC
▼ + stars: | 2023-04-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

They include Marco Rubio's 2016 presidential campaign, major Senate campaigns, and an anti-Trump PAC. The Texas billionaire also gave $50,000 in 2015 to "Right to Rise," a super PAC associated with Jeb Bush. Senate super PAC spendingIn addition to being a major super PAC spender at the presidential level, Crow has given thousands to outside spending groups supporting the party's Senate candidates over the years. He also gave $50,000 to "Show Me Values PAC," a super PAC set up to prevent the scandal-plagued former Gov. And in 2016, he gave $55,000 to "Let America Work," a super PAC boosting Sen. Ron Johnson against former Democratic Sen. Russ Feingold.

☆ Rate hikes turned bank security portfolios upside down: Graham's Josh Rosmer
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRate hikes turned bank security portfolios upside down: Graham's Josh RosmerJosh Rosner, Graham Fisher managing director, joins 'Squawk Box' to discuss Rosner's thoughts on the weekend's developments, why it's a problem to insure bank assets, and more.

☆ Ethics panel admonishes Graham for soliciting campaign donations during interview in Senate building
▼ + stars: | 2023-03-24 | by ( Ryan Nobles | Zoë Richards | ) www.cnbc.com time to read: +2 min

The Senate Ethics Committee said Thursday that Sen. Lindsey Graham, R-S.C., violated Senate rules during a Fox News appearance last year when he requested donations for Hershel Walker's Senate campaign in Georgia. It is against Senate rules to seek campaign donations in a federal building. In its letter, the ethics panel issued an "admonishment" but opted not to sanction Graham. The panel also said Graham was a repeat offender, noting that he had asked for donations in an impromptu media interview in the Dirksen Senate Office Building in October 2020. "In response to a reporter's question regarding your reelection campaign fundraising, you directly solicited campaign contributions for your campaign committee," Coons and Lankford wrote.

☆ Texts from the Dominion lawsuit reveal the real Fox News
▼ + stars: | 2023-03-22 | by ( Brent D. Griffiths | Rebecca Zisser | ) www.businessinsider.com time to read: +8 min

Among the messages is a thread where Tucker Carlson privately bashes Trump. Dominion captured a number of texts that show Fox employees' apprehension about the growing conspiracy claims about the company's voting machines in the wake of the election. Top Fox News hosts, including Tucker Carlson, privately insulted Chris Wallace and hatched a plot for a rebellion — November, 16, 2020. In a group chat between the three biggest hosts, Carlson, Hannity, and Ingraham, few colleagues, including then-"Fox News Sunday" host Chris Wallace, were spared. In a group chat between the three biggest hosts, Carlson, Hannity, and Ingraham, few colleagues such as then-"Fox News Sunday" host Chris Wallace were spared.

☆ Trump wants to block Georgia prosecutors from using evidence in monthslong special grand jury investigation into his election interference
▼ + stars: | 2023-03-20 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

They argued the special grand jury investigating him was unconstitutional and unfair. Between May of 2022 and January of this year, a special purpose grand jury heard evidence from dozens of witnesses, including Raffensperger, Georgia Gov. The special purpose grand jury doesn't have the power to bring indictments, but it completed its work with a secret report in January, which makes recommendations for criminal charges. Willis must now decide whether to refer the findings and evidence it collected to an ordinary grand jury, which can bring criminal charges. In the new filing, Trump's attorneys argue the Georgia statute to authorize the special purpose grand jury have been rarely invoked, and raise unsettled constitutional questions.

☆ We asked the GOP senators who've endorsed Trump for 2024 if an indictment might change their mind. They said it wouldn't.
▼ + stars: | 2023-03-16 | by ( Oma Seddiq | Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Trump may soon face an indictment in New York over a "hush-money" payment to Stormy Daniels. Insider asked all five GOP senators who back Trump in 2024 whether him being charged would alter their support. And Republican senators who have already endorsed his third White House bid appear to be sticking with him regardless. Schmitt, for his part, abruptly declined to comment when asked about the possibility of an indictment of Trump. Trump also recently suggested that an indictment could be politically beneficial for him — a notion that Tuberville agreed with on Thursday.

☆ This half-century old fund seeks out global value and has Warren Buffett's style all over it
▼ + stars: | 2023-03-03 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

Warren Buffett has inspired generations of value investors, and one 53-year-old, market-beating mutual fund has his legacy all over it. For almost three decades, starting in 1979, the fund was run by another acolyte of value, Jean-Marie Eveillard. Since 1979, First Eagle Global has returned more than 12% annually, even including the 5% load fee charged on the first $25,000 invested. The fund employs three main elements when it comes to security selection within the universe of global value, Brooker said. When we're not able to find things that make sense to us, that meet our underwriting criteria, we'll wait in cash," Brooker said.

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