Money and Finance
- Seth Klarman's Baupost Hedge Fund Loses More Than $150 Million On Gold Miners
In October, Marcel “Mac” DeGuire became president and chief operating officer of Guyana Goldfields, an exploration-stage company listed on the Toronto Stock Exchange that has been losing money trying to develop gold mines in South America for years....
- Reckless Or Brilliant? Trulia Files For Ipo Under Jobs Act
Found via @HowardSchilit. What’s new, America? We are about to witness a major tectonic shift in the world of finance. It’s happening beneath our collective feet and it will change the world as we know it. What is it? The new and controversial stipulations...
- Why Investors Should Pay Attention To The Jobs Act Of 2012
From the Distressed Debt Investing blog: On April 5th, 2012, President Obama signed the Jumpstart Our Business Startups (JOBS) Act into law. In my opinion, this may be one of the most important pieces of legislation enacted in the past 20 years. And investors...
- John Mauldin: The War For Spain
I fully intended to ignore Spain this week. Really, truly I did. I had my letter all planned, but then a few notes drew my attention, and the more I reflected on them, the more I realized that the inflection point that I thought the ECB had pushed down...
- New Congress Act Allows Hedge Funds To Advertise Freely
A new act passed by the Senate and House of Representatives is expected to be signed into law by President Obama within days. The Jumpstart Our Business Startups, known as The Jobs Act, will eliminate a longstanding ban on general solicitation and advertising...
Money and Finance
Loeb’s Reinsurer With No U.S. Staff Gains From Jobs Act
I’m not sure whether or not this makes much of a difference on the business/valuation front, but it is interesting nonetheless.
Billionaire hedge-fund manager Daniel Loeb’s Third Point Reinsurance Ltd., which has no staff in the U.S., said it can limit financial disclosure after a public offering because of rules promoting domestic job creation.
Third Point Re is an “emerging growth company” under the Jumpstart Our Business Startups -- or JOBS -- Act, according to filings for the planned initial public offering. Under the act, companies with less than $1 billion in annual revenue can qualify, allowing reduced disclosure about executive pay and waiving requirements for auditors to attest to a company’s financial controls.
President Barack Obama has said the JOBS Act, which became law last year, would make it easier for companies to raise money, leading to employment growth. Bermuda-based Third Point Re shows how the benefits aren’t exclusive to companies adding U.S. jobs, said Barry Ritholtz, chief executive officer of FusionIQ, the provider of equity-analysis software.
“This was all about small companies and startups, not wealthy hedge-fund managers,” Ritholtz said in a telephone interview. “Was this anticipated by the JOBS Act? Well, not if you paid attention to the rhetoric we heard.”
- Seth Klarman's Baupost Hedge Fund Loses More Than $150 Million On Gold Miners
In October, Marcel “Mac” DeGuire became president and chief operating officer of Guyana Goldfields, an exploration-stage company listed on the Toronto Stock Exchange that has been losing money trying to develop gold mines in South America for years....
- Reckless Or Brilliant? Trulia Files For Ipo Under Jobs Act
Found via @HowardSchilit. What’s new, America? We are about to witness a major tectonic shift in the world of finance. It’s happening beneath our collective feet and it will change the world as we know it. What is it? The new and controversial stipulations...
- Why Investors Should Pay Attention To The Jobs Act Of 2012
From the Distressed Debt Investing blog: On April 5th, 2012, President Obama signed the Jumpstart Our Business Startups (JOBS) Act into law. In my opinion, this may be one of the most important pieces of legislation enacted in the past 20 years. And investors...
- John Mauldin: The War For Spain
I fully intended to ignore Spain this week. Really, truly I did. I had my letter all planned, but then a few notes drew my attention, and the more I reflected on them, the more I realized that the inflection point that I thought the ECB had pushed down...
- New Congress Act Allows Hedge Funds To Advertise Freely
A new act passed by the Senate and House of Representatives is expected to be signed into law by President Obama within days. The Jumpstart Our Business Startups, known as The Jobs Act, will eliminate a longstanding ban on general solicitation and advertising...