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  Tuesday, 15 Feb 2011 | 1:55 PM ET

Advice for the Web 2.0 Kids

Posted By: Josh Brown

Hey Gang, my name is KooKoo and I have some knowledge to impart to the Startup Billionaire Class of 2011...

In case you don't remember me, in the late 90's I was the mascot for Clocks.com , one of the highest-flying companies of the first internet boom. Things didn't exactly work out so well—but we did get to burn through 400 million bucks trying. Anyway, my purpose in writing this is to save the Facebooks and the Twitters and the LinkedIns and the Groupons from ending up like we did. So if you're a social media entrepreneur or a startup investor poised to cash in on the Web 2.0 explosion, please remember the following as you go after your dream:

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  Tuesday, 15 Feb 2011 | 1:03 PM ET

Whale Watch: Will Warren Top Tepper? And Other Storylines

Posted By: Jeff Cox
Warren Buffett
Getty Images
Warren Buffett

The most recent whale-watch filings at the SEC become more interesting when you contemplate not merely who is betting on what but who is betting against whom.

Looked at one way, the quarterly 13f documents at the Securities and Exchange Commission tell you who dumped financials, who bet on retail, who still is using metals to hedge against the ever-nearing threat of inflation.

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  Tuesday, 15 Feb 2011 | 12:16 PM ET

UK Inflation Spikes to 4 Percent—Double the Targeted Rate

Posted By: Ash Bennington

Spiking inflation in the UK has just hit 4 percent —double the Bank of England's inflation target.

Coming on the heels of China's 5 percent inflation report , it isn't hard to see something of a trend.

So now we begin the guessing game: To what extent are the causal factors of inflation in the UK and China the consequence of specific national policies—and to what extent are they the result of broader global demand issues?

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  Tuesday, 15 Feb 2011 | 11:36 AM ET

Who Is This Man?

Posted By: John Carney
Actress Rose McGowan and guest attend the 2nd Annual David Lynch Foundation's Change Begins Within Benefit Celebration at The Metropolitan Museum of Art in New York City.
Getty Images
Actress Rose McGowan and guest attend the 2nd Annual David Lynch Foundation's Change Begins Within Benefit Celebration at The Metropolitan Museum of Art in New York City.

On Valentine's Day, New York Magazine ran a post describing the actress Rose McGowan's new beaux—with an attached photograph—but no name.

The gentleman in question is 6'6"—and claims to work in "finance something" whatever that means, according to Ms. McGowan.

(I say 'claims' for this reason: If I ever ran into Rose McGowan at a party, I might be tempted to say I ran a hedge fund. Journalism is a lot of fun—but it rarely impresses the starlets.)

So do you know this guy?

Have you ever seen him crunch a pivot table or toss back shots at a Brother Jimmy's?

If so, we'd love to hear from you.

»Read more
  Tuesday, 15 Feb 2011 | 10:49 AM ET

More Bad News for Chinese Inflation?

Posted By: Ash Bennington
Flag of the People's Republic of China
Eriko Koga | The Image Bank | Getty Images
Flag of the People's Republic of China

China's inflation number came in at 4.9 percent—with food prices jumping 10.3 percent.

What's worse? Those numbers may be suspect.

To begin with: Despite China's ugly inflation numbers, economists had predicted even worse results.

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  Tuesday, 15 Feb 2011 | 9:54 AM ET

Chinese Inflation Nears 5%

Posted By: Ash Bennington
Yuan
Altrendo Images | Getty Images
Yuan

China's January inflation numbers have come in at 4.9 percent.

But the news for the Chinese may be more problematic than the rollup number would seem to suggest: Food stuffs rose an ominous 10.3 percent.

Food prices rising 10-plus percent is a troubling sign for a country in which untold millions live on less than $1.25 per day.

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  Tuesday, 15 Feb 2011 | 9:42 AM ET

Rep. Chris Van Hollen: The President's Budget Is Not Smoke and Mirrors

Posted By: Lori Ann LaRocco

The President's right hand man on budget, Jack Lew, will be making a trip to Capitol Hill Tuesday to testify before the House Budget Committee on the President's 2012 budget proposal.

Chairman Rep. Paul Ryan \(R-WI\) is holding two days of hearings, and by all accounts this will be Wall Street's version of "must see t.v." I spoke with Budget Committee Ranking Member Rep. Christopher Van Hollen \(D-MD\) about the hearing as well as his outlook on spending reform.

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  Tuesday, 15 Feb 2011 | 9:15 AM ET

Buffet Dumps his Bank of America Shares—at a Huge Loss

Posted By: Ash Bennington

Buffet dumps his Bank of America shares—at a huge loss. [Bloomberg]

US hedge funds report their quarterly holdings. DealBook provides the highlight reel. [DealBook]

Facebook's 'Frenemies': In Silicon Valley, the line between partner and competitor is a thin one.

Commodity prices are jumping

—and those costs are creeping into consumer goods. [NY Times]

After much high-minded discussion of allowing states to file for bankruptcy, the backlash against that option has begun in Congress. [CNBC via FT]

Bahrain's "Day of Rage" leads to clashes with police—and deaths. [Financial Times]

Reuters gives advice on avoiding 'a Madoff' when picking your financial advisor . (One suspects the advice would have been equally welcome prior to 'The Madoff'.) [Reuters]

Being sober is boring: Just ask Charlie Sheen. [NY Post]

»Read more
  Monday, 14 Feb 2011 | 7:20 PM ET

MERS Dealt Severe Blow by Federal Bankruptcy Court

Posted By: Ash Bennington
  Monday, 14 Feb 2011 | 4:43 PM ET

'Justice' Will Not Be Denied

Posted By: Ash Bennington

Big money—and big names—are behind a new buyout firm called Justice Holdings.

Justice holdings, a special-purpose acquisition company \(SPAC\), has just raised £900 million, which is just under $1.5 billion.

» Read More

About NetNet

  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

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