US fines 9 Japanese auto-parts firms for price-fixing

US fines 9 Japanese auto-parts firms for price-fixing (via AFP)

The United States government said Thursday that nine Japanese auto-parts companies and two executives have pleaded guilty to price-fixing and will pay more than $740 million in fines. The announcement was the latest crackdown in US regulators’ long-…

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