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Archive for January 29, 2013

2013/01/29: Calendar, Finance Meets Professional Wrestling

January 29, 2013 Leave a comment

© 2013 ROHR International, Inc. All International rights reserved.

The Weekly Report & Event Calendar is available through the link in the right hand column. This week’s Summary Perspective will be added after the US Close today to allow for the influence of all of the (admittedly light) early week economic data prior to the late month data commencing tomorrow along with the FOMC announcement. Obviously that is followed by all of the first of the month data, which includes US Employment on Friday.

Yet, in addition to the calendar there are two key areas of interest we want to cover today: the final degeneration of the public image of finance (aided and abetted by the financial fourth estate), and the degree to which the equities’ technical psychology remains positive in spite of the March S&P 500 future setback from the 1,500 area.

First of all, there are the shenanigans surrounding Pershing Square Capital Management CEO Bill Ackman’s very public expressions of his bearish view of (and significant short position in) nutritional supplements company HerbalLife. And as most of you are likely already aware, that has led to a very public spat with previously aggressive activist investor turned corporate shepherd Carl Icahn. The highlight clip of that several day running confrontation is an interesting, if somewhat depressing, bit of viewing.

Ackman/Icahn Spat Highlights

Click for Ackman/Icahn Audio-Visual Highlights

Much more of the story beyond the clip highlights (including the back story on the sour relationship) is available online via Business Insider.   And just to show it is not just CNBC self-promotion when they say it, the BI article title also refers to it as The Greatest Moment in Financial TV History. More like one of the most depressing displays of excessive ego and opinion. (That said, the BI article is a bit of a good giggle.)

And it leaves an already suffering financial services and investment industry (especially the ‘active funds management’ sector after the past couple of years) with another hit to its public image. Strong expressions of opinions on individual investments and entire sectors are to be expected from high-profile fund managers. But what transpired last week seems beyond the pale.

It sounded a lot more like the kind of confrontation we recall from our misspent youth watching professional wrestling interviews on television…

Read more…

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