Tuesday, July 23, 2013

Founder of Tiger Management Julian Robertson: SAC case won't impact hedge fund industry

Julian Robertson, founder and CEO of Tiger Management, appeared on "Bloomberg Surveillance" today with Tom Keene, Sara Eisen and Scarlet Fu and said that Google has built a better culture than Apple. Robertson said that Steve Jobs 
"was a maverick person and really couldn't establish a great, long-term entity…I think that the Google people have a better way of getting things done."
Robertson also said that he does not expect the SEC's case against Steve Cohen and SAC 
"to have a big effect" on the hedge fund industry. He said, "I think hedge funds are generally extremely careful that they adhere to the straight line of the rules."

Thursday, July 18, 2013

$MS CEO James Gorma: encouraged by Merrill's higher profit margins

Morgan Stanley CEO James Gorman told Bloomberg Television's Erik Schatzker on "Market Makers" today that he's encouraged by Merrill Lynch's higher profit margin: 
"It's great news, because it's proof positive that doubling up in this space was a smart thing to do…I always like to see somebody out there who's setting a higher bar as a demonstration of what can be done."
On the banking industry, Gorman said: 
"I think things are pretty rational right now to be honest. I've been in and around the industry for 25 years. It is a sober environment that we operate in. The leadership of the banks, all of whom I know pretty well, are very sober quality professional people. I don't see a lot of holes at the large institutions in terms of rational behavior at all."

U.S. Treasury Secretary Jack Lew: : Europe should look to US as example

U.S. Treasury Secretary Jack Lew sat down today with Bloomberg Television’s Chief Washington Correspondent Peter Cook and said that Europe should look to the United States as an example to get its economy moving: 
“We still have more work to do, but I think we’re in a place now where the example of the United States is actually a good one." 
Lew also said:
 “Europe does need to look at what it can do to get the engine of growth moving again…The world needs Europe to grow."   partial transcript below

Sunday, July 14, 2013

Icahn on $DELL: We think DELL is worth mover then $14 a share

Carl Icahn phoned into Bloomberg Television’s “Street Smart with Trish Regan and Adam Johnson” and said: 
“We are going to be coming up with a higher bid tomorrow morning. A little bump on my part. That is what I am looking for…. We will add to that bid. We will warrant to that. The bid will be superior, even to what is already superior…We think it is worth more than $14. We will do a warrant which is will be valuable. This is vastly superior to the Dell deal… 
.....We are going to come and add to the package which we think is superior already. We think that it will be around $20, buy the stock at 20 and we will give the shareholders a piece that warrant. We think that will make it utterly superior and we will go to the independent board. We will show them this and tell them that we think it is superior. This is our recommendation and we hope that it has traction.”

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