Posts filed under “Really, really bad calls”
Venture capitalist Marc Andreessen is none too happy these days. As the New York Times reported yesterday in a front-page article, the inventor of the web browser and co-founder of Netscape is miffed at the latest Silicon Valley fad: Anonymous sniping from within the tech industry.
Several new anonymous social commenting apps and startups — with names like Secret and Whisper — are generating lots of buzz. As it turns out, these new social networks have provided “a rare, unvarnished look at the ambitions, disappointments, rivalries, jealousies and obsessions of the engineers and entrepreneurs” of Silicon Valley, the Times reported.
Andreessen’s complaints are valid. Combining the anonymity of comment trolling with social networking creates a greenhouse for sniping snarkiness. Anonymity may work well for whistleblowers, but in a small community of over-worked geeks, it might be creating some problems.
A debate on anonymous postings has long raged on the Internet. continues here
One of the great “mysteries” of the post financial crisis era is why obvious criminality has not been prosecuted. We have been told it is more complex than it appears; that the securitization process has made determining exactly who was harmed complicated; that this complexity makes convincing a jury a crapshoot. All of these arguments…Read More
With Spring nearly upon us, today may be the last chance for excuse-makers to blame this winter’s awful weather for poor job creation. Consensus estimates are that Payrolls increased 149,000 in February after a mediocre gain of 113,000 in January. What is to blame for this weak ongoing job creation? Is it the Fed’s fault?…Read More
This is one of those things that really annoys me:
One year ago today, Charles Nenner (of the Charles Nenner Research Center) went on TV. His specialty is Cycle Research (whatever that is). He made a very bold call, forecasting a drop to 5,000 in the Dow.
It was not merely that the 50% drop did not come pass. What happened was the opposite, a 32% rally. And so, one year later, we have to recall this prognostication as one of the very worst of the year. The calls on Apple and Intel and Semis were nearly as bad.
Worst call of 2013:
March 4 (Bloomberg) — Charles Nenner Research Center Executive Director Charles Nenner discusses the markets and his prediction of the Dow dropping to 5,000 this year.. He speaks on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
This weekend, I found myself in the rather unusual position of defending hedge funds. Before I explain why that is so unusual, allow me to explain what I was defending them against. Last week, Forbes released its annual score card of top-earning hedge fund managers. The usual gang was there: Soros, Tepper, Cohen, Paulson, Icahn,…Read More