Sunday, 26 April 2015
Last updated 2 days ago
Oct 28 2010 | 4:12am ET
Soon-to-be-former hedge fund manager Todd Combs may have been Warren Buffett’s third choice as one of his potential successors. Was David Einhorn the first?
The Wall Street blog Insider Monkey certainly thinks so. And it also thinks it knows why Einhorn turned down the opportunity to take over for the legendary Oracle of Omaha at Berkshire Hathaway: money.
Einhorn, who runs Greenlight Management, earns some $200 million a year, according to Insider Monkey. Buffett himself earns a $500,000 annual salary. The blog concludes, “David Einhorn is simply too expensive for Warren Buffett.”
But why Einhorn in the first place? Insider Monkey offers three good reasons and two, um, less good reasons. The blog cites his value investing and reinsurance backgrounds, as well as, of course, Greenlight’s impressive returns. Insider Monkey notes that the hedge fund has returned an annualized 22% after the fees that Buffett has frequently derided.
The other reasons? Einhorn is the same age as Combs, 42, and is a Midwesterner.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…