You can’t always get what you want. But if you’re a former Microsoft CEO with $2 billion, you just might find you get a Los Angeles basketball team.
The social media world was baffled over Steve Ballmer’s unprecedented $2 billion deal for the L.A. Clippers. “It may be another example of billionaires not knowing how better to throw their money away,” FT Alphaville reporter Izabella Kaminska concluded.
Meanwhile, the Twittersphere exploded yet again over Thomas Piketty’s “Capital in the Twenty-First Century” after The Financial Times challenged some of Piketty’s calculations and their underlying data. Bloomberg Businessweek proclaimed “Pikettymania” with a dreamy teen mag-style cover. Even reknowned data whisperer Nate Silver weighed in.
In other news, Josh Brown has a foolproof way to get your lost bag back from an airline, Barry Ritholtz reflects on his trading days, and Bill Griffeth has an origin story for a popular Rolling Stones song that advisors will appreciate (sorry, it’s not true).
On General Economic Topics
It is rare that one can say this, but here it goes…. The bond market has no idea what it is doing and has completely lost its mind.
— Burt White (@_BurtWhite) May 2, 2014
— Bill Griffeth (@BillGriffeth) May 31, 2014
LOL — shareholder asks “why are we standing here handing out voting ballots if the share structure gives Zuckerberg majority control?”
— _ (@MikeIsaac) May 22, 2014
My training as a trader consisted of being pushing into deep end of the pool while someone yelled “swim.” http://t.co/WaaqiiOlPY
— Barry Ritholtz (@ritholtz) May 29, 2014
The other day Delta lost my bag and I felt like they were giving up the search. Til I told them there was a body in it.
— Downtown Josh Brown (@ReformedBroker) May 31, 2014
On Steve Ballmer’s $2 Billion Acquisition of the L.A. Clippers
Seriously, if the Clippers are worth $2 billion, then what are the Lakers worth? $6 billion? Is a Dr. Evil pinky sneer necessary?
— Charles Sizemore (@CharlesSizemore) May 30, 2014
Steve Ballmer is paying over $100 million for every playoff game the Clippers played over the last 20 years #NotAValueInvestor
— The WallStreetRanter (@WallStreet_Rant) May 30, 2014
From the most loathed owner in basketball, to the most loathed executive in software. #Clippers
— Justin Wolfers (@JustinWolfers) May 30, 2014
People who are shocked when errors are uncovered in data probably haven’t spent much time actually working with data: http://t.co/unNZuELouw
— Nate Silver (@NateSilver538) May 27, 2014
— Businessweek (@BW) May 29, 2014
Check out 10 Best Finance Tweets of the Month: April on ThinkAdvisor.