Monthly Archives: July 2012

Reading List: Enjoy!

Law firms investigating Zynga for insider stock sell-off (Arstechnica)

Schubert, Jonckheer, & Kolbe, LLP; Johnson & Weaver, LLP; Bronstein, Gewirtz, & Grossman, LLC; Levi & Korsinsky; and Wohl & Fruchter, LLP have all announced they are actively investigating whether executives and shareholders including CEO Mark Pincus breached their fiduciary duty and broke securities law in selling over $500 million worth of stock in a secondary stock offering this April. In selling that stock at $12 a share—well above the current $3 share price brought on by the weak earnings report—the executives allegedly “misrepresented and/or failed to disclose materially adverse facts about its business and financial condition.” In other words, they knew this was coming, and they sold their own interests rather than warning the general shareholders.

Similar trends are popping up for any companies that feed off FB or are FB. FB itself was sued over withholding material information from shareholders the day before the IPO. Seems like Zynga is in similar situation. Now what we have to watch out for is the stock dump by FB insiders when they are allowed to sell and the associated decrease in price (could possibly happen). If a significant stock dump happens (which I can sense it will – due to over valuation of the stock), then that is a signal for ‘investors’ to take their money somewhere else.

Zynga Chart from Google Finance

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Books: As a man Thinketh – James Allen

As a man Thinketh – James Allen

Mind is the Master power that moulds and makes,And Man is Mind, and evermore he takesThe tool of Thought, and, shaping what he wills,Brings forth a thousand joys, a thousand ills: —He thinks in secret, and it comes to pass:Environment is but his looking-glass.

This book is highly recommended for all my readers. It was written in 1902 by James Allen and may be responsible for developing many successful and ambitious people in the world today. James Allen has done a fantastic job of summing up motivations, aspirations and success in less than 21 pages. Just as a teaser, here are a few words of wisdom from the essay:

  1. Right thinking begins with the words we say to ourselves.
  2. Men do not attract what they want, but what they are.
  3. A man is literally what he thinks, his character being the complete sum of all his thoughts.
  4. As the physically weak man can make himself strong by careful and patient training, so the man of weak thoughts, can make them strong by exercising himself in right thinking.

 

A must read! You can access the pdf version of the book here follows. (It is a public property as of 2003): As_a_man_thinketh- James Allen

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Reading List: Enjoy!

Wealth doesn’t trickle down – it just floods offshore, new research reveals (Guardian)

A far-reaching new study suggests a staggering $21tn in assets has been lost to global tax havens. If taxed, that could have been enough to put parts of Africa back on its feet – and even solve the euro crisis

Super rich hiding up to $32 trillion offshore (AlJazeera)

Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280bn in lost income tax revenues, according to research published on Sunday.

The study estimating the extent of global private financial wealth held in offshore accounts – excluding non-financial assets such as real estate, gold, yachts and racehorses – puts the sum at between $21 and $32 trillion.

This amounts to roughly the US and Japanese GDP combined. Roughly 10 million people worldwide have offshore accounts, with 100,000 people owning half of those secreted assets.

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