Finance and M&A News and Updates

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One of the many mysteries of Bernie Madoff's alleged $50 billion Ponzi scheme is why so many people broke a cardinal rule of investing by over-allocating money in one position. Many investors -- charities, individual investors, even well-known fund managers -- have lost everything, right down to their last penny.

SAN JOSE, Calif.----Selectica, Inc. today announced that a committee of the Board of Directors of the Company ordered the exchange of each outstanding right under its Rights Agreement , as in effect as of the close of business on January 2, 2009, for one share of the Company’s common stock.

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Now that we're mired in the worst economic crisis since the Depression, forecasters who didn't see it coming are consoling themselves by saying, "no one saw it coming." This is hogwash. Many people saw it coming: Gary Shilling, Nouriel Roubini, Jeremy Grantham, Dean Baker, Peter Schiff, Robert Shiller, et al. They just don't happen to work for major investment banks.