Tag Archives: Management

Bill Gross’s Farewell Letter to Pimco

Bill Gross, founder of Pimco, and its chief investment officer for the past 40 or so years, resigned last week. Rumor has it that he was but two steps ahead of a mutinous gang, swords out, planning to make him walk the plank. Gross was too quick and before the mutineers could force him, he jumped ship — and landed at Janus Capital. There, we surmise, he was given a slug of equity and a free hand to run a smaller, more nimble fund.

On his way out of Pimco, Gross penned a heartfelt farewell letter to his former colleagues. But so great was his haste that he never hit “send.”

Fortunately for you, dear reader, we managed to get our hands on a copy of that e-mail, which we reproduce below and without further comment:

I can add colours to the chameleon,

Change shapes with Proteus for advantages,

And set the murderous Machiavel to school.

Henry VI, Part III

Dear Friends, Colleagues and Co-workers,

http://www.bloombergview.com/articles/2014-10-03/bill-gross-s-investor-outlook-on-palace-coups

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  • 69
    Point72 Asset Management LP, Steven A. Cohen’s family office and successor to his hedge-fund firm SAC Capital Advisors LP, is banning some of its employees from using instant messaging for external communication after last year agreeing to settle insider trading allegations. “This prohibition of IMs will reduce the highly informal communications inherent with…
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  • 63
    The best way to sell anything is to tell a story — and bond funds are no exception to this rule. When you talk to bond-fund managers, they love to talk about their thesis, or their strategy — some grand vision of the world which, they hope, you will find compelling. If you do…
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  • 60
    Twenty years ago, one bond-trading hedge fund grew from launch to over $100 billion in assets in less than three years. It saw yearly returns of over 40 percent. It was run by finance veterans, PhDs, professors, and two Nobel Prize winners. Everyone on Wall Street wanted a piece of…
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  • 57
    The issues that remain un-addressed are most important, as flash crashes have significantly grown and the core legality of certain HFT practices remains unquestioned in most public debate Investment management magnet Cliff Asness has a problem with a Bloomberg View piece on High Frequency Trading (HFT) with particular focus on issues brought…
    Tags: trading, management, investment

List of the thinkers, doers and dreamers who really matter in an age of gridlock and dysfunction

 

 

THE POLITICO 50

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    http://www.teslamotors.com/sites/default/files/blog_attachments/gigafactory.pdf
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  • 63
    Follow up of my post on BIG COMPANIES NOW HAVE A HAND IN THE COLLABORATIVE ECONOMY Here is one picture.
    Tags: economy
  • 61
    Greek debt tracker   As the government in Athens haggles with its lenders over economic reforms,Greece is running out of money. Here is what it owes in the upcoming months. http://www.ft.com/ig/sites/2015/greek-debt-monitor/
    Tags: economy
  • 60
    Why do we say so ? Easy money policies of recent years could lead to big problems. Warning indicators like the significant number of original general public offerings of organizations that are unprofitable, and substantial degrees of financial debt issued to firms, often with weak credit score.
    Tags: economy
  • 60
    Publicis CEO Maurice Levy's last-ditch offer to let Omnicom chief John Wren be CEO couldn't save the $35 billion deal to create the world's largest advertising company.   http://postcards.blogs.fortune.cnn.com/
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Stenbeck transforms Swedish family firm into major online investor

Swedish-American heiress Cristina Stenbeck’s bet on the red-hot e-commerce business has caught the eye of investors, although doubters question the future of her Kinnevik group in a sector where new players emerge almost every day.

Shares in Kinnevik, which Stenbeck inherited at 24 on the sudden death of her father Jan, have more than doubled in half a dozen years and outstripped some of Sweden’s other renowned family investment firms under her leadership.

Yet some critics regard Kinnevik’s investment shift into online retailing where entry barriers are low as foolhardy. They question the team Stenbeck has built, saying that while it is strong on banking and financial experience, it lacks the operational ability to build long-lasting web businesses.

In its nearly 80-year history, Kinnevik has made a habit of leaping from one growth sector to the next.

http://www.reuters.com/

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    Entrepreneurs will know that most startups are not successful most of the time. Our hiring isn’t quite right, our funds are often running out, we don’t know if we have achieved a good product-market fit, or if the pricing we decided is optimal! On an average day, an entrepreneur has his/her hands…
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  • 47
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  • 46
    The plunge in emerging markets is taking a bite out of the performance of funds managed by some of the biggest names on Wall Street, including BlackRock, Brevan Howard and T. Rowe Price. Some mutual funds are already down 10 percent so far this year, thanks to declining stocks and…
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  • 44
    Bill Gross, founder of Pimco, and its chief investment officer for the past 40 or so years, resigned last week. Rumor has it that he was but two steps ahead of a mutinous gang, swords out, planning to make him walk the plank. Gross was too quick and before the…
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7 reasons for Nadella’s appointment as Microsoft CEO

Five months ago, the student town of Manipal went abuzz when they realized that one of their own was the leading contender in the race for the top job at Microsoft Corp. For the next five months, it looked like their prayers would easily lead to fruition. But late last week, another Indian name came into the fray. While it was a win-win situation for Indians, Redmond had to face a tussle between the two tech-stalwarts who would be resurrecting its lost glory. But in the end Satya Nadella was the man who came out on top. … 

Read all 7 points here : http://yourstory.com/2014/02/satya-nadella-ceo/

 

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Successful Startups Lessons From The Programming World

Entrepreneurs will know that most startups are not successful most of the time. Our hiring isn’t quite right, our funds are often running out, we don’t know if we have achieved a good product-market fit, or if the pricing we decided is optimal! On an average day, an entrepreneur has his/her hands full with more than one such challenge. In a sense a startup’s job is to deal with failure… and systematically eliminate it so we can scale up a roughly error-free business model.

http://www.nextbigwhat.com/

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  • 60
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  • 56
    This is an ever changing economy, in which new scenes and niches constantly emerge. A handful of pioneers jump on it, often purely for fun. One, or maybe a couple of them, figure out a way to turn the idea into a profitable business. Others follow suit, and try to…
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  • 55
    In 2011, I started a book business with my best friend called Emily Books. We were qualified to start a business in some ways, not so much in others. We had some expertise in our field: We’d both worked at the intersection of publishing and tech for years, and we…
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  • 52
    In 2009 Twitter was a 50-person company punching way above its weight in cultural impact, its micro-blogging platform blasting its way into the public imagination. But its ambitions were even higher. According to leaked internal documents, the company had privately set goals over the next few years of a billion…
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The Untold Story Of Larry Page

One day in July 2001, Larry Page decided to fire Google’s project managers. All of them.

It was just five years since Page, then a 22-year-old graduate student at Stanford, was struck in the middle of the night with a vision. In it, he somehow managed to download the entire Web and by examining the links between the pages he saw the world’s information in an entirely new way.

What Page wrote down that night became the basis for an algorithm. He called it PageRank and used it to power a new Web search engine called BackRub. The name didn’t stick.

By July 2001, BackRub had been renamed Google and was doing really well. It had millions of users, an impressive list of investors, and 400 employees, including about a half-dozen project managers.

 

Read more: http://www.businessinsider.com/

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  • 49
    Google Glass shares much of its electronics and software with the smartphone, but it’s a very different machine. You hold a smartphone in your hand. And we do—at restaurants, at the movies, walking across the street, and even in bed. We use smartphones to check our mail, update Facebook, get…
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  • 48
    Jan Koum picked a meaningful spot to sign the $19 billion deal to sell his company WhatsApp to Facebook earlier today. Koum, cofounder Brian Acton and venture capitalist Jim Goetz of Sequoia drove a few blocks from WhatsApp’s discreet headquarters in Mountain View to a disused white building across the…
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  • 43
    Onstage at TED2014, Charlie Rose interviews Google CEO Larry Page about his far-off vision for the company. It includes aerial bikeways and internet balloons … and then it gets even more interesting, as Page talks through the company’s recent acquisition of Deep Mind, an AI that is learning some surprising…
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  • 42
    Why is America’s largest cable TV company buying its biggest rival for $44 billion? Well, not to oversimplify things, but that’s easy to explain: http://qz.com/176837/one-sentence-and-six-charts-explain-why-comcast-is-buying-time-warner-cable/
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