From a reader: As a reader of yours, I find your views always interesting and well thought-out, even when I disagree. Thank you for sharing your thoughts, wisdom, and experience, as I truly believe you raise up the areas of thought you touch. I have a question that I hope you will address on your blog, though the urgency is low. As a CFA and CFP working in a small RIA, I have been...
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In the last 4 days salesforce.com, inc. (NYSE:CRM) insiders have sold $24 million worth of stock, just before the company reports quarterly earnings on the 28th of February. What is even more curious, as if if dumping stock during earnings week is not curious enough is that most of the shares sold were RSU’s that did not expire in most cases for 2-3 years (here is a link to the page). Even worse is almost all of these shares are...
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The recent news of Wal-Mart Stores, Inc. (NYSE:WMT) paying bribes in Mexico brings to focus how capitalism is fighting the monsters created by need, greed and maybe capitalism itself. If ordinary citizens pay bribes to government officials for favors or for speeding up approvals, why wouldn’t companies resort to such practices to further their business interests? In countries where income levels are lower, corruption has percolated to all levels of government. U.S. companies which operate...
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JPMorgan Chase & Co. (NYSE:JPM) is attempting to keep its shareholders from voting on a break-up plan that a number of labor unions are trying to impose on it. The labor unions are attempting to force the bank’s board to break it up because of what happened in the London Whale incident. JPMorgan Chase & Co. (NYSE:JPM) is reportedly facing enforcement action because of the incident, which cost the bank more than $6 billion in...
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David Sokol the former Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) trader accused of insider trading by the Securities and Exchange Commission, is now completely free and clear of those charges. The SEC has dropped its case against Sokol, according to The Wall Street Journal. Sokol resigned suddenly from Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B)’s MidAmerican Energy Holdings. Warren Buffett, the well-known billionaire manager of Berkshire Hathaway, said at that time that Sokol purchased shares of Lubrizol...
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Lawyers for Chevron Corporation (NYSE:CVX) have filed an ethics complaint against Thomas DiDiNapoli, the state comptroller for New York. The complaint filed with the Joint Commission on Public Ethics (JCOPE) alleges that DiNapoli used his position to secure donations in connection with a major lawsuit. Chevron Corporation (NYSE:CVX) is requesting that DiNapoli and his current and former staff members be investigated for numerous New York Public Officers Law violations. The complaint is in connection with a lawsuit...
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A colleague sent this to us he wishes to remain anonymous its both humours and sad, regarding all the fraud that goes on. RiverSource Life Insurance Prospectus Parody. 'Get ValueWalk's Daily Edition By Email and Never Miss Our Top Stories'
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Muddy Waters rates New Oriental Education & Technology Group (NYSE: EDU) shares a Strong Sell because it is probable that EDU will have a significant restatement and possible that its auditor will resign because: EDU has reported 392% revenue growth since going public. The revenue growth has been built on store growth of 338% during this time. EDU tells investors that its entire store network is company-owned, but this is a lie. As recently...
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A new survey has come out saying that Wall Street lacks ethics. Really, it took a report to deliver this news? Does this mean people don’t pay attention to the news? According to a New York Times story by William Alden, he writes that legal firm Labaton Sucharow just released the results of it survey, Wall Street, Fleet Street and Main Street: Corporate Integrity at a Crossroads. The study compiled data from 500 financial services professionals from...
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Aubrey McClendon, CEO of Chesapeake Energy Corporation (NYSE:CHK) denied any involvement in the company’s stock price plunge in October 2008 after selling almost all of his shares (31 million) to satisfy margin calls. The company’s stock value went down by 80% within 90 days. McClendon emphasized in an e-mail sent to Chesapeake Energy Corporation (NYSE:CHK) employees in October 10, 2008 that the stock price of the company was affected by the global financial crises, which was caused...
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You can guess that I am talking about promoted penny stocks. From now on, whenever I write about this, I will update this table: Ticker Date of Article Price @ Article Price @ 6/12/12 Decline GTXO 5/27/2008 2.45 0.0395 -98.4% BONZ 10/22/2009 0.35 0.018 -94.9% BONU 10/22/2009 0.89 0.0799 -91.0% UTOG 3/30/2011 1.55 0.07 -95.5% OBJE 4/29/2011 2.90 0.04 -98.6% LSTG 10/5/2011 1.12 0.1525 -86.4% AERN 10/5/2011 0.0770 0.0014 -98.2% IRYS 3/15/2012 0.261 0.16...
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