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A towering figure in the broadcasting, bottling, banking and supermarket industries, it seemed J. Bruce Llewellyn never met a challenge too big. Llewellyn passed away in his New York City home, Wednesday night, April 7, due to kidney failure. He was 82.
It’s one of the most basic ideas in investing: Diversify and spread risk along various asset classes or, in the case of equities, among different industries. But self-made billionaire investor and entrepreneur Michael Lee-Chin begs to differ. Taking a distinctly contrarian approach to investing, the founder and chairman of Portland Holdings Inc., a privately held investment company in Burlington, Ontario, argues that when looking at stocks, focusing on specific companies and industries trumps diversification any day. Lee-Chin also doesn’t try to read the tea leaves of economic indicators. “I didn’t create wealth by being a prognosticator,†he says. “I created wealth by finding businesses that are fundamentally sound and that have great business models that I understand and can buy inexpensively.â€
Last week Toyota announced the recall of some of its most popular vehicles. The recall, however, may not turn out to be a disaster for BE100s dealers.
I’ve been laying awake at night worrying about our credit status. I’m not talking about my own ability to borrow. I mean, ours—all of us— President Obama’s, mine, yours, our children, the whole country. With all the talk of the Obama administration’s coming stimulus package, there’s been very little discussion of how, exactly, we’re going to pay for the $800 billion program.
Torae L. Carr was born and raised in the Coney Island section of Brooklyn, NY, and grew to love rap culture at a young age through the works of L.L. Cool J, and Jimmy Spicer.
