What Microsoft can learn from Sony

What Microsoft can learn from Sony

By Hayley Tsukayama, E-mail the writer

Sony chief executive Kazuo Hirai has made a painful decision, announcing Thursday that Sony is parting ways with its Vaio line of computers, one of the most iconic brands in the company’s modern portfolio. Read more of this post

Multibillion-dollar stock hedge funds, Joho Capital and Scout Capital, told their investors they were closing. Scout managed $6.7 billion and Joho about $5 billion

Hedge-Fund Firm Exis Capital to Shut Down

Exis Managed Just $75 Million at the End of 2013

JULIET CHUNG

Updated Feb. 3, 2014 6:06 p.m. ET

New York hedge-fund firm Exis Capital Management Inc., run by prominent art collector Adam Sender, is shutting down following poor performance last year, according to people with knowledge of the matter. Read more of this post

Klarman Held 50 Percent Cash Amid Scarce Value

Klarman Held 50 Percent Cash Amid Scarce Value

by Michael IdeJanuary 27, 2014, 12:20 pm

Investment funds are usually looking for cash, so it was something of a surprise (although not to ValueWalk readers) when Baupost Group LLC founder Seth Klarman announced that he was giving money back to his investors for the second time in just a few years. The problem is that, as a dedicated value investor, Klarman found himself holding onto cash and increasing exposure to gold because not much else looked attractive, according to several people who attended a recent speech given by Klarman. Read more of this post

New measures proposed to strengthen Singapore stock market

New measures proposed to strengthen Singapore stock market

Friday, February 7, 2014 – 19:18

Alvin Foo

The Straits Times

SINGAPORE – A slew of changes is being proposed by the Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX) to strengthen the local stock market, in the wake of last October’s penny stock crash. Read more of this post

Michael Mauboussin – What Does a PE Multiple Mean? PE Multiples Are Not Valuation, They Are Shorthand: Mauboussin

Michael Mauboussin – What Does a PE Multiple Mean?

by VW StaffFebruary 07, 2014, 12:07 pm

Michael Mauboussin is considered an expert in the field of behavioral finance and has some famous books on the topic including, Think Twice: Harnessing the Power of Counterintuition and More More Than You Know: Finding Financial Wisdom in Unconventional Places. Read more of this post

Amazon tests Brazil’s retail jungle with its Kindle

Amazon tests Brazil’s retail jungle with its Kindle

8:36am EST

By Esteban Israel and Marcela Ayres

SAO PAULO (Reuters) – Amazon Inc. started selling its Kindle online in Brazil on Friday, expanding from ebooks into retail for the first time in Latin America’s biggest and most challenging ecommerce market. Read more of this post

Taiwan’s MediaTek sets up backyard brawl with Qualcomm

Taiwan’s MediaTek sets up backyard brawl with Qualcomm

3:08pm EST

By Noel Randewich

SAN FRANCISCO (Reuters) – Qualcomm Inc, the world leader in smartphone microchips, may want to shore up its defensive tactics.

Taiwan’s MediaTek Inc, the leading chip supplier for Chinese smartphones, is barreling into the U.S. market with a new major global branding campaign and setting up shop in San Diego, California, home to Qualcomm. Read more of this post

ow To Stop Making Excuses And Use Fear To Your Advantage

How To Stop Making Excuses And Use Fear To Your Advantage

SCOTT CHRISTENTREPRENEUR
58 MINUTES AGO 452

Imagine the following scenario: you’re in a classroom taking a test — one that’s quite easy. The professor then approaches you and offers you a choice: you can either take a “performance-enhancing drug” or a drug that inhibits your performance. Which would you choose? Read more of this post

How the best athletes overcome less-than-ideal physiques for their sports

2014 Sochi Olympics: Imperfect Bodies, Seeking Olympic Perfection

How the best athletes overcome less-than-ideal physiques for their sports

MATTHEW FUTTERMAN

Feb. 6, 2014 7:24 p.m. ET

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Yuna Kim is 5-foot-5, tall for a figure skater, but her technique makes up for it, and her height gives her a commanding presence on the ice. European Pressphoto Agency

When hurdling star Lolo Jones first raised her hand for U.S. bobsled duty in 2012, coach Todd Hays looked at her 135-pound frame and thought she should stick with her day job. Read more of this post

Get a PhD-but leave academia as soon as you graduate

Get a PhD—but leave academia as soon as you graduate

By Allison Schrager 2 hours ago

Allison Schrager is an economist with a focus on pension issues.

Enrolling in a PhD program is, from an economic perspective, a terrible decision. But that doesn’t mean you shouldn’t do it. Just don’t let it ruin your life. Read more of this post

CUHK on hiring spree for rising stars; The Chinese University of Hong Kong has been on a headhunting mission in advance of the possible retirement of 200 to 250 teaching staff

CUHK on hiring spree for rising stars
Friday, February 07, 2014
The Chinese University of Hong Kong has been on a headhunting mission in advance of the possible retirement of 200 to 250 teaching staff.

Provost Benjamin Wah Wan-sang said recruitment began last November and the university plans to hire between 30 and 40 professors and associate professors in total. Read more of this post

Gene therapy: Ingenious; Fixing a body’s broken genes is becoming possible

Gene therapy: Ingenious; Fixing a body’s broken genes is becoming possible

Feb 8th 2014 | New York | From the print edition

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IT SOUNDS like science fiction, and for years it seemed as though it was just that: fiction. But the idea of gene therapy—introducing copies of healthy genes into people who lack them, to treat disease—is at last looking as if it may become science fact. Read more of this post

News you can lose: CNN’s transformation says a lot about what is working today in television

News you can lose: CNN’s transformation says a lot about what is working today in television

Feb 8th 2014 | NEW YORK | From the print edition

JEFF ZUCKER, boss of CNN Worldwide, a cable-news firm, likes to start his morning with a shot of numbers. Every weekday at 9am he confers with his teams in New York, Atlanta, Washington, DC, and other bureaus to discuss ratings and web traffic, and to decide what news to cover. On February 4th a story reconstructing the final day of Philip Seymour Hoffman, an actor who died of a heroin overdose (see obituary), boosted CNN’s website. Mr Zucker wanted to “push it” on TV too. As producers pitch the stories they plan to cover, Mr Zucker pitches them his own, including more on Hillary Clinton’s election prospects, how bad weather affects America’s economy and whether drinking two fizzy drinks a day will actually kill you. Read more of this post

Business schools are better at analysing disruptive innovation than at dealing with it

Those who can’t, teach

Business schools are better at analysing disruptive innovation than at dealing with it

Feb 8th 2014 | From the print edition

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IN EVERY profession there are people who fail to practise what they preach: dentists with mouths full of rotten teeth, doctors who smoke 40 a day, accountants who forget to file their tax returns. But it is a rare profession where failure to obey its own rules is practically a condition of entry. Business schools exist to teach the value of management. They impart some basic principles—like setting clear goals and managing risk. They also teach how dangerous the business world has become. The most fashionable phrase today is “disruptive innovation”: professors solemnly warn people that entire industries face powerful new forces and that comfortable incumbents are at the mercy of swift-footed challengers. But when it comes to their own affairs, business schools flout their own rules and ignore their own warnings. Read more of this post

Mutual funds are as Canadian as hockey, doughnuts and snow. The big question is why

Mutual funds are as Canadian as hockey, doughnuts and snow. The big question is why

M. Corey Goldman | February 6, 2014 9:50 AM ET
This article appears in the February, 2014 edition of the Financial Post Magazine. Visit the iTunes store to download the iPad edition of this month’s issue.

The mutual fund is one of the more democratic inventions of the modern-era investment world: the pooling together of thousands of investors’ capital and placing it in the capable hands of an investment professional, generating collective returns and mitigating collective risk at a fraction of the cost it would otherwise be for investors to go it alone. Over the past 30-plus years, the fund has become the investing embodiment of millions of Canadians: It’s become the revered, must-have, do-no-wrong investment vehicle of choice for building a nest egg, saving for retirement and passing on savings to the next generation. Read more of this post

‘It’s so unnecessary’: Heenan Blaikie co-founder blames internal rivalries for law firm’s demise; The once-venerable law firm of Heenan Blaikie LLP, started with handshakes in 1973, has ended because of squabbling

‘It’s so unnecessary’: Heenan Blaikie co-founder blames internal rivalries for law firm’s demise

Allison Lampert, Postmedia News | February 6, 2014 | Last Updated: Feb 6 7:30 PM ET
MONTREAL — The once-venerable law firm of Heenan Blaikie LLP, started with handshakes in 1973, has ended because of squabbling, Roy Heenan said Thursday. Read more of this post

Stagnation by Design; The difficulties that many rich countries now face are not the result of the inexorable laws of economics, to which people simply must adjust, as they would to a natural disaster

JOSEPH E. STIGLITZ

Stagnation by Design

NEW YORK – Soon after the global financial crisis erupted in 2008, I warned that unless the right policies were adopted, Japanese-style malaise – slow growth and near-stagnant incomes for years to come – could set in. While leaders on both sides of the Atlantic claimed that they had learned the lessons of Japan, they promptly proceeded to repeat some of the same mistakes. Now, even a key former United States official, the economist Larry Summers, is warning of secular stagnation. Read more of this post

Guidelines urge women to monitor stroke risks more closely than men; Guidelines urge women to monitor stroke risks more closely than men

Guidelines urge women to monitor stroke risks more closely than men

By Lena H. Sun, Friday, February 7, 5:00 AM

Women of all ages should pay more attention to the risk of stroke than the average man, watching their blood pressure carefully before they think about taking birth-control pills or getting pregnant, according to a new set of prevention guidelines released Thursday. Read more of this post

Google starts selling corporate videoconferencing product

Google starts selling corporate videoconferencing product

Thu, Feb 6 2014

SAN FRANCISCO (Reuters) – Google Inc unveiled a videoconferencing system for businesses on Thursday, the Internet search company’s latest effort generate revenue from corporate customers. Read more of this post

Singapore accounting standard says developers can book profits from certain types of projects only upon completion of those projects – not profits racked up progressively

Developers’ profit spikes may be due to accounting standard: OCBC

Friday, Feb 07, 2014

Melissa Tan

The Straits Times

INVESTORS take note: An accounting standard can make a huge difference to a developer’s bottom line.

The standard says developers can book profits from certain types of projects only upon completion of those projects – not profits racked up progressively. Read more of this post

Philip Seymour Hoffman didn’t know how to be happy

Philip Seymour Hoffman didn’t know how to be happy

By Lauren Alix Brown @laurenalixb February 6, 2014

Back in December 2012, Philip Seymour Hoffman sat down with philosopher Simon Critchley at the Rubin Museum to talk about happiness. Days after reeling from the actor’s death, much has been made of the singular pain of addiction and the lonely descent into acting in a difficult role. But the interview touches on something universal, a base human inability to simply be happy. Within the first two minutes of the interview, Hoffman declares, “I really don’t know what it means to be happy.” Read more of this post

Book Review: Tiger Mom’s Superiority Complex; The book is racism masquerading as social science, but that doesn’t mean that it’s all wrong

Book Review: Tiger Mom’s Superiority Complex

By Jessica Grose February 06, 2014

Yale law professor Amy Chua gained fame—and stoked fires in the mommy wars—in 2011 with a Wall Street Journal piece called “Why Chinese Mothers Are Superior.” The essay introduced Chua’s provocative book, The Battle Hymn of the Tiger Mother, which embraced cultural stereotypes about Asian moms having academically successful offspring because they don’t let their kids watch TV, get out of playing the piano or violin, or “not be the No. 1 student in every subject except gym and drama.” Three years later, Tiger Mom is back, with her claws only slightly retracted, and a co-author, her husband, fellow Yale law professor, and novelist Jed Rubenfeld. Their book, The Triple Package: How Three Unlikely Traits Explain the Rise and Fall of Cultural Groups in America, has no problem with absolutes, either. Read more of this post

Charlie Rose Talks to Bridgewater’s Ray Dalio

Charlie Rose Talks to Bridgewater’s Ray Dalio

By Charlie Rose February 06, 2014

Your animated film, How the Economic Machine Works, has 750,000 hits on YouTube. Explain what it’s about and what compelled you to make it.
It’s a 30-minute description of how I believe the economy works like a machine, a very simple explanation. I’m a global macroeconomic investor, so it’s from a very practical perspective. I’m 64 years old. I’ve reflected back on what I’ve learned, and I felt it was important to get it out there. Many economists … they’re not living in the world of markets every day. They’re not putting money on the line. So they don’t have to engage in the kind of hardheaded analysis you do because you are managing $150 billion. Read more of this post

ARM Designs One of the World’s Most-Used Products. So Where’s the Money?

ARM Designs One of the World’s Most-Used Products. So Where’s the Money?

By Ashlee Vance February 04, 2014

Most people have heard of Intel (INTC). The company, which makes the chips that power the world’s PCs and servers, pulled off one of the great marketing triumphs of the past 50 years with its “Intel Inside” campaign. About 400 million computers containing Intel chips are expected to be sold this year. Read more of this post

Bringing Order to Data Chaos; As cloud computing has taken off, companies have built ever-larger data centers that increasingly tax the ability of staffers to manage them

Bringing Order to Data Chaos

By Olga Kharif February 06, 2014

As cloud computing has taken off, companies have built ever-larger data centers that increasingly tax the ability of staffers to manage them. Two Pacific Northwest companies, Puppet Labs and Chef, are here to help. They’re taking on the likes of IBM(IBM), Hewlett-Packard (HPQ), BMC Software, and CA Technologies (CA) in what market researcher IDC calls a roughly $2 billion business to help companies make all those servers work more efficiently together. On top of that, there’s a growing corporate demand for software that can better manage computer networks or fine-tune a server system that handles terabytes of data, everything from streaming songs to document-sharing apps. Read more of this post

Japan, Land of the Falling Wage

Japan, Land of the Falling Wage

By Bruce EinhornJason Clenfield, and Yuko Takeo February 06, 2014

Prime Minister Shinzō Abe has been trying to revive Japan’s economy for more than a year now. Among his goals is to stoke inflation to convince consumers that deflation is over and to start shopping before prices get any higher. Another goal is to persuade companies to hike wages. Many Japanese workers have had few or no raises in years. Abe’s two goals are intertwined: If inflation catches on but wages don’t rise, households will be worse off than before. With a big consumption-tax increase scheduled for April 1, the prime minister needs companies not only to give their workers raises but also to make those raises generous enough to keep consumers from cutting back as prices go up. Read more of this post

New CEO Satya Nadella Needs to Make Microsoft More Like Google

New CEO Satya Nadella Needs to Make Microsoft More Like Google

By Ashlee Vance February 04, 2014

About two years ago, Microsoft’s (MSFT) research arm described something amazing in a blog post. It had developed a contact lens equipped with a tiny chip that could measure the blood sugar level of tears. Read more of this post

Dementia Casts Its Shadow Over China

Dementia Casts Its Shadow Over China

By Natasha Khan and Daryl Loo February 06, 2014

When 71-year-old Shi Anquan chops firewood or visits the market in his village in northern China, his wife, Yuhua, also 71, plods quietly behind. Shi has given up tilling the land to devote himself full-time to the care of his wife, reminding her to bathe and change her socks. The village’s single nursing home won’t take patients with mental diseases. The nearest hospital doesn’t have dementia specialists. Shi must travel with his wife to visit her doctor in Beijing, a three-hour trip each way with two bus changes. Read more of this post

Other People’s Views: When should you care about what your peers and friends think and when should you not

Other People’s Views

FEB. 6, 2014

David Brooks

Let’s say you’re turning 40 and you realize you want to leave accounting and become a hip-hop artist. People will say you’re having a pathetic midlife crisis, but should you do it anyway?

Let’s say you’re on the phone in a crowded place and you want to tell your buddy a dirty joke, which may offend the people around you. Should you tell it? Read more of this post

Jeremy Grantham on Tesla, Fertilizer Wars; GMO’s famed investor also discusses peak oil and fracking. Plus, investing lessons learned over 47 years

THURSDAY, FEBRUARY 6, 2014

Jeremy Grantham on Tesla, Fertilizer Wars

By JEREMY GRANTHAM | MORE ARTICLES BY AUTHOR

GMO’s famed investor also discusses peak oil and fracking. Plus, investing lessons learned over 47 years.

Fossil Fuels: Is Tesla a Tease or a Triumph? 
In an earlier report, “The Race of Our Lives,” I finished on the unusually optimistic point (for me) that a combination of declining fertility and eventual declining population combined with unexpectedly strong progress in renewable energy might just save our modern civilization from a slow and, no doubt, irregular descent into dystopia. More recently, while still believing we are in this critical race, I have become increasingly impressed with the potential for a revolution in energy, which will make it extremely unlikely that a lack of energy will be the issue that brings us to our knees. Even in the expected event that there are no important breakthroughs in the cost of nuclear power, the potential for alternative energy sources, mainly solar and wind power, to completely replace coal and gas for utility generation globally is, I think, certain. The question is only whether it takes 30 years or 70 years. That we will replace oil for land transportation with electricity or fuel cells derived indirectly from electricity is also certain, and there, perhaps, the timing question is whether this will take 20 or 40 years. To my eyes, the progress in these areas is accelerating rapidly and will surprise almost everybody, I hope including me. Read more of this post