Famous Investors

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Kerkorian Gives Up - Takes Huge Losses on Ford

Kirk Kerkorian gives up on Ford Motors, has huge losses on stock positions.

Famous investor, financier Kirk Kerkorian is pulling out of the stake he took in Ford Motor Co. just six months ago, selling 7.3 million shares at a fraction of his purchase price.

Kerkorian announced just last April that he had bought 100 million shares of Ford for an average price of $6.91. He then announced a tender offer under which he paid $8.50 a share for an additional 20 million shares. In addition he bought another 22.3 million shares between late April and mid-June at an average price of $6.54 a share, giving his total investment an average price of just over $7 a share.

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21Oct2008 | taipan | 0 comments | Continued
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Jim Rogers on Fannie Mae Freddie Mac Bailout

The legendary investor, Jim Rogers, had a few hot words to say about the Fannie Mae - Freddie Mac rescue plan announced by Ben Bernanke and Hank Paulson over the weekend.

“I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae,” said Jim Rogers from his new home in Singapore in a Bloomberg interview . “So we’re going to bail out everybody else in the world. And it ruins the Federal Reserve’s balance sheet and it makes the dollar more vulnerable and it increases inflation.

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14Jul2008 | taipan | 0 comments | Continued

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