Oil billionaire T. Boone Pickens just took a hard, cold tech bath by going long YHOO, with his buddy Carl Icahn, in the yearlong battle to takeover Yahoo! and toss it to Steve Balmer and Microsoft. He has sold all of his shares.
T. Boone's loss is estimated at $50 million.
San Francisco Chronicle
Tuesday, July 29, 2008
Wednesday, July 2, 2008
Warren Buffett's investment portfolio, we are told, has averaged a meager 5% total return over the past 10 years.
That small detail apparently did not come close to stopping Zhao Danyang of Hong Kong from bidding (and winning) $2,110,100 to break bread with the Oracle of Omaha. Zhao runs Pureheart China Growth Investment Fund (which may differ somewhat to Buffett's more value based investing style). Last year, the proceeds of the auction, all of which go to the Glide Foundation, amounted to $650,100.