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Billionaire's Apprentice


shalab

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[amazonsearch]The Billionaire's Apprentice[/amazonsearch]

 

Just finished reading this book over the weekend, a great read. For people that want to invest with people like Biglari (despite the ethics), this book is a must read. What Buffett said echoes strongly, "A reputation takes a lifetime to build but can take only five minutes to destroy".

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Barnes & Noble still exists? and people still buy books from them??

 

Sure,... LOL.  :P

 

I never expected to become an online customer at Barnes & Noble,  ::)

but a few weeks ago, I was forced to do it, because I had no other choice.  :o

 

It was the "The Oracle & Omaha: How Warren Buffett and His Hometown Shaped Each Other" title published by the Omaha World-Herald.

 

To my surprise Amazon wouldn't have the book and the Herald would only sell it for full price.

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....For people that want to invest with people like Biglari (despite the ethics), this book is a must read....

 

Stop this obsession with Biglari bashing. People like us who want to invest will invest in BH. This board is supposed to be about value investing with rational argument and discussion. But, when it comes to Biglari there is no rational argument. Unfortunately, moderator of this board has encouraged participants like you to continue with such nonsense. Very unfortunate.

 

I think there has been plenty of rational discussion.  But, the message you just wrote does not fall into that category.  The original message does.

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  • 5 months later...

One of the few books that I have read in awhile that I could not put down.

 

The accomplishments of the principals of the 'Twice Blessed Generation" are astounding but then so sad that they wanted more.

 

A good book on many fronts from the historical aspects of South Asian immigration to basic financial history.

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  • 4 weeks later...
  • 8 months later...
  • 2 weeks later...

I started reading this one, read maybe 150 pages out of 1300 (ebook pages..) and I can't say I'm enjoying it too much. Has anyone else found it to be slow going in the beginning and not always so well written (they kind of assume - at least so far - that you know who Gupta is, what Galleon is, etc). Does it improve as you go deeper in, or should I just give up because it's all similar to the beginning?

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I started reading this one, read maybe 150 pages out of 1300 (ebook pages..) and I can't say I'm enjoying it too much. Has anyone else found it to be slow going in the beginning and not always so well written (they kind of assume - at least so far - that you know who Gupta is, what Galleon is, etc). Does it improve as you go deeper in, or should I just give up because it's all similar to the beginning?

 

I thought the book was very good.  I am not sure exactly how far into it you are, but there is a lengthy description and background on both Gupta and Galleon (via Raj).  I am pretty sure Gupta's background is near the beginning so maybe give it a little more of a chance.  At some point the book starts alternating between Gupta's and Raj's back story with the more current events. 

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I thought the book was very good.  I am not sure exactly how far into it you are, but there is a lengthy description and background on both Gupta and Galleon (via Raj).  I am pretty sure Gupta's background is near the beginning so maybe give it a little more of a chance.  At some point the book starts alternating between Gupta's and Raj's back story with the more current events.

 

Ok, thanks. I'll give it another chance.

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  • 2 months later...

The story continues:

 

Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. -- That feat is really, really hard to do statistically without tossing the money out the window.

 

The rest of the story:

 

Li is a former trader at Raj Rajaratnam's Galleon Group, which collapsed amid insider trading charges. Rajaratnam is now in prison for the illegal activity, but Li was never accused of wrongdoing. 

 

The report indicates that he lost most of it just in the month of December 2014 alone!!

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The story continues:

 

Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. -- That feat is really, really hard to do statistically without tossing the money out the window.

Maybe not too hard if overleveraged on binary outcomes.  :)

 

Details in WSJ article.  Can click through article from here.  https://www.google.com/search?q=Owen+Li+Canarsie+Capital+wsj&tbm=nws

 

 

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The story continues:

 

Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. -- That feat is really, really hard to do statistically without tossing the money out the window.

Maybe not too hard if overleveraged on binary outcomes.  :)

 

Details in WSJ article.  Can click through article from here.  https://www.google.com/search?q=Owen+Li+Canarsie+Capital+wsj&tbm=nws

 

Interesting. Run by the longtime former head of risk management at Morgan Stanley:

 

The collapse of Canarsie Capital LLC caught the attention of Wall Street because it was run by the longtime former head of risk management at Morgan Stanley — Kenneth deRegt —along with Owen Li, a 28-year old former Galleon Fund Management trader
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