Diamonds and Dogs
Cheaters Never WinCHEATERS NEVER WIN
What a week for cheaters. We begin the week with the continuing saga and trial of billionaire hedge fund manager Raj Rajaratnam of Galleon Group. In this instance they were cheating for an "edge". Later on, we were surprised to learn of Warren Buffett's right hand man, David Sokol, front running Berkshire Hathaway's recent purchase of Lubrizol. It makes you wonder about the Oracle of Omaha, as he totally missed the negative image of his number one man, and odds-on favorite to succeed him, personally profiting on his back. Finally, the March madness of NCAA basketball will end tonight as Connecticut battles Butler for the championship. In the semi-final, it was Jim Calhoun of Connecticut (apologizing on Friday for being suspended for the first three Big East games next season and having his team put on three years probation) versus John Calipari (whose previous two trips to the final four were vacated because of NCAA cheating infractions). They say cheaters never win but the public certainly doesn't seem to care. Oh by the way, Barry Bonds appeared in court last week as well&Stocks are climbing a wall of worry as they finish the best quarter since 1998. Earnings begin coming out next week with Alcoa on Monday and Intel on the 19th which kicks the reporting season into high gear.