Former Xstrata boss raises $1bn for X2 Resources

Former Xstrata boss raises $1bn for X2 Resources (via AFP)

Former Xstrata boss Mick Davis has raised $1.0 billion (740 million euros) from trading house Noble and private equity firm TPG for new mining firm X2 Resources, it said on Monday. “X2 Partners, Noble Group Limited and TPG today announce that they have…

Seth Klarman: Investors Can No Longer Rely On Mean Reversion

Volatility"For most of the last century," Seth Klarman noted in his second-quarter letter to Baupost's investors, "a reasonable approach to assessing a company's future prospects was to expect mean reversion." He went on to explain that fluctuations in business performance were largely cyclical, and investors could profit from this buying low and selling high. Also Read More