Ronbowlens - Ron's Blog

Why we should nurture Googles of tomorrow

"I believe things can change. But instead of diverting huge national resources into house prices to fuel consumption, it means making an equivalent commitment to technology businesses, to long-term capital provision and to supporting our “Googles” of tomorrow."

Archie Norman

Mr. Norman is chairman of Lazard London 

Lazard Ltd : Lazard World Dividend & Income Fund Declares Monthly Distribution

Lazard

http://www.4-traders.com/LAZARD-LTD-13358/news/Lazard-Ltd--Lazard-World-Dividend--Income-Fund-Declares-Monthly-Distribution-17474880/

The Board of Directors of Lazard World Dividend & Income Fund, Inc. (the "Fund") (NYSE:LOR) has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.07822 per share on the Fund's outstanding common stock. The distribution is payable on December 23, 2013 to shareholders of record on December 12, 2013. The ex-dividend date is December 10, 2013.

Portfolio data as of October 31, 2013, including performance, asset allocation, top 10 holdings, sector weightings, regional exposure, and other Fund characteristics have been posted on Lazard Asset Management LLC's ("LAM") website, www.LazardNet.com. Additionally, the notice required by Section 19(a) of the Investment Company Act of 1940, as amended, which provides information regarding the respective estimated amounts of each monthly distribution derived from net investment income, net realized capital gains (short- and long-term) and return of capital, will also be available on www.LazardNet.com.

The Fund's objective is total return, through a combination of dividends, income, and capital appreciation. The Fund's net assets are invested in a portfolio of approximately 60 to 90 world equity securities, consisting primarily of stocks selected from the current holdings of other accounts managed by LAM. The equity portfolio is broadly diversified in both developed and emerging market countries and across the capitalization spectrum. The Fund seeks enhanced income by investing in short duration (typically less than one year) emerging market forward currency contracts and other emerging market debt instruments.

An indirect subsidiary of Lazard Ltd (NYSE:LAZ), LAM, the Fund's investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of September 30, 2013, LAM and affiliated asset management companies in the Lazard Group managed $176 billion worth of client assets. For more information about LAM, please go to www.LazardNet.com.

Fitbit Force brings smartwatch features to a fitness tracker

Fitbit is making its latest device to quantify your activity, the wrist-worn Force fitness tracker, official today. The Force is an evolution of the Flex, Fitbit’s other wrist-worn tracker, and offers an OLED display and altimeter on top of the features included in the Flex. It’s very similar to the company’s One tracker, but with a wristband so you don’t have to clip it to your pants. The Force is available in black or a handsome bluish grey color (Fitbit calls it “slate”) today for $129.95, slightly more than the $99 Flex, which is remaining in Fitbit’s lineup. 

Your favorite books, if they were tea. (H/T Meghan E. Morris)

Everytime I finish an exam

It’s like:

The commodity corn has taken a big hit in 2013. As it has plummeted, many have started to look for a potential bottom, an entry price to go long. It i…

The commodity corn has taken a big hit in 2013. As it has plummeted, many have started to look for a potential bottom, an entry price to go long. It is looking more and more likely that bottom is at hand. Take a look at the weekly chart of Teucrium Corn Fund (NYSEARCA:CORN). This is an ETF that tracks corn. Please note that four weeks ago a bottoming tail was put in, and last week another bottoming tail was put in. It is clear that this commodity is trying to put in a low and upside could be right around the corner. A long at the current $31.00 level appears attractive with downside limited and upside to $34.50 likely. Gareth Soloway InTheMoneyStocks.com

Former Bush aide now top private equity lobbyist

By Lawrence Delevingne

Kenneth Mehlman, the public affairs chief at Kohlberg Kravis Roberts & Co. who was previously a leading Republican operative in Washington, is now the top lobbyist for the private equity industry.

Mehlman was elected Thursday as the chairman of The Private Equity Growth Capital Council, the most prominent industry advocacy group for firms like TPG Capital, Silver Lake, Apollo Global Management, Carlyle Group and Blackstone Group.

He will continue several long-running fights in Washington, including higher taxes for PE firms from a potential change in the treatment of carried interest and increased registration and disclosure rules from the Dodd-Frank Act.

KKR's McVey: Where to put your money

Henry McVey, KKR, explains why he likes allocation in emerging markets with Fed tapering looming.

Mehlman succeeds Mark Tresnowski, the top lawyer for Madison Dearborn Partners. PEGCC, launched in 2007, is also led day-to-day by president and chief executive officer Steve Judge.

Mehlman joined KKR in 2008 from Akin Gump Strauss Hauer & Feld, where he was a partner in the law firm's legislative and regulatory counseling practice. He is best known for his work on behalf of conservative politicians before: chairing the Republican National Committee and running George W. Bush's presidential reelection campaign in 2004.

Mehlman is also a prominent gay rights advocate and serves as a director of the American Foundation for Equal Rights.

Mehlman's primary responsibilities will be to "help expand the PEGCC's outreach efforts to educate and engage a broad set of stakeholders about the value of a vibrant and dynamic private equity industry," according to a statement from the association.

"I have enormous respect for the PEGCC's important work engaging with public policy makers to encourage more economic growth and retirement security for millions of Americans," Mehlman said. "I also share the PEGCC's goal of building a community of investors who seek superior returns while also emphasizing active, responsible governance, long term investment and measuring success in years not quarters."

Mehlman also credited Tresnowski for his work in helping block changes to carried interest taxes as yet and countering negative views of the private equity industry that emerged during former Bain Capital executive Mitt Romney's failed presidential bid.

“It was a solid quarter on both sides of the business,”  - 

Kenneth Jacobs, CEO of Lazard Ltd