Lawyers for Michael Lewis, the author of “Liar’s Poker” and “Moneyball,” asked a judge to dismiss a lawsuit by a bond manager who claimed Lewis’s book about subprime mortgage investing, “The Big Short,” defamed him.
In early 2007, with subprime-mortgage defaults soaring, Wing F. Chau teamed with Merrill Lynch & Co. to create a $300 million pool of assets that shared a name with the main character in The Matrix movies who discovers reality isn’t what it seems.
Jim Chanos , the hedge-fund manager who made money betting against Enron Corp., said students of for-profit education companies earn too little and owe too much money after they graduate, reasons he’s bearish on the industry.
Investors should sell Strayer Education Inc. stock and replace it with Apollo Group Inc. shares, which may perform better as regulatory change around the U.S. for-profit education industry unfolds, according to Morgan Stanley.
Corinthian Colleges Inc. and Career Education Corp . led a gain in for-profit U.S. education stocks after an analyst said the industry is likely to rally because short sellers are closing their bearish bets.
For-profit colleges need tougher oversight and regulation, according to a report from a Democratic Senate committee chairman that questions the industry’s advertising spending, tuition costs and reliance on taxpayer money.
Highfields Capital Management LP, whose co-founder Jonathon Jacobson said last month he was “fatigued” with management at Genworth Financial Inc., doubled its stake in the insurer and isn’t pushing for changes.