MarketFoolery: 05.14.2013
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 14 May 2013
⏱️ 19 minutes
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Summary
A hedge fund manager calls for Sony to break up. Tesla has a wild ride. And AT&T pulls the plug on the Facebook phone.
Transcript
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| 0:00.0 | It's Tuesday, May 14th. |
| 0:03.0 | Welcome to Michael Fuller. |
| 0:05.0 | I'm Chris Hill joining me in studio today from Motley Full One, Jason Moser and from |
| 0:08.7 | Motley Fullwell, Hidden Gems, Chief Investment Officer Andy Cross. |
| 0:11.7 | Good to see you guys. |
| 0:13.0 | We got a lot going on today. |
| 0:16.0 | We've got ESPN in the news. |
| 0:18.0 | We've got Twitter, we've got Facebook, we've got Tesla, |
| 0:22.0 | which apparently is a stock that only goes up now. |
| 0:25.0 | We'll get to all of that but we will start with the big story of the morning. |
| 0:29.0 | Shares of Sony are hitting a new 52 week high on the news that hedge fund manager Dan Loeb, who by the way has a 6.5% |
| 0:37.4 | stake in Sony, hand delivered a letter to Sony CEO Kuzuoh Hirai, I hope I'm pronouncing that correctly, in which Lobe urged |
| 0:46.4 | Sony to be broken up and essentially spin off the entertainment division, which is the film |
| 0:51.8 | studio, the music label first and |
| 0:55.2 | foremost and do you think that's a good idea for zoning well first and foremost you |
| 0:59.4 | did pronounce it correctly okay actually looked it up just to to be sure or played the video of it so |
| 1:04.6 | congratulations. And so it's not exactly a spin-off. It's just that he |
| 1:10.8 | wants them to float about 15 to 20 percent of of that property so |
| 1:16.3 | so Sony still owns most of it and Dan Lobe and third point would actually support |
| 1:20.8 | that you know this is what hedge fund managers do and this is why they actually would actually add |
| 1:25.0 | add value in other ways too. |
| 1:27.6 | I mean, they take away value too, |
... |
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