The Salad Oil Scandal of 1963 was a crucial event in the career of Warren Buffett. In the aftermath of massive fraud, Buffett concentrated a large part of his portfolio in the stock of American Express (the victim of the scam) after its market value had dropped by more than half. For Buffett, the scandal … Continue reading XL Media’s Salad Oil Scandal
Tag: Restructuring
Renn Fund | Enter Horizon Kinetics
On June 13, 2016, Steven Stein, the President of Etude Capital, LLC sent an open letter to the Board of Directors of the Renn Fund. At the time, Etude Capital and its affiliates held 12.4% of the outstanding shares of the Renn Fund (NYSE MKT:RCG). Two months earlier, a shareholder meeting had voted in favour of a … Continue reading Renn Fund | Enter Horizon Kinetics