Throughout his remarkable business and government career, Robert Rubin, now 65, has both worked exhaustively at reaching well-founded conclusions and rejected the idea that anything - and he means anything - can be a 'provable certainty.' Carol Loomis businesscareercertainty share on social
In the 1987 stock market crash, according to the conclusions of the official Brady report, colossal sales of stock index futures by so-called portfolio insurers - whose investment strategies depended entirely on these derivatives - greatly exacerbated the 500-point market decline. Carol Loomis bradycallcolossal share on social
A buyback is itself a special kind of acquisition, made at prices that are typically a bargain compared with those a company must pay for an outside purchase. Carol Loomis acquisitionbargainbuyback Change image and share on social
The 1969 experience has been a rude awakening for many hedge-fund investors and has left some of them with strong reservations about the whole concept. For the first time in their relatively short history, the funds are not growing: in fact, some have suffered large withdrawals of capital, and a few have actually folded. Carol Loomis awakencapitalconcept share on social
Some managements do not even think of buybacks as an option. The idea of shrinking their equity base repels them. Their inclination instead is to get bigger, and this often leads them to pay rich prices for acquisitions that never earn their keep. Carol Loomis acquisitionbasebig share on social
The 'Fortune' I came to work for on Jan. 25, 1954, was a monthly, with pages significantly larger than what you're reading; 'art' covers that did not relate to stories inside; and a newsstand price of $1.25. Carol Loomis artcoverfortune share on social
In general, the hedge funds were clobbered by the 1969 bear market, ending up in many cases with records that were worse than those put together by aggressive mutual funds denied the luxury of short sales. Carol Loomis aggressivebadlybear share on social
If a company's stock is undervalued - as many managers believe theirs is - a repurchase may offer the best payoff of all. Carol Loomis companymanageroffer Change image and share on social
By late 1953, going to New York on vacation, I had lined up several Time Inc. interviews - and what they did was give me a lifelong appreciation of the importance of luck in getting a job. Carol Loomis appreciationgiveimportance Change image and share on social