Steve Schaefer

AQR's Cliff Asness Says Investors Need To Get Real

forbes.com — When we sat down for a conversation in the Forbes building last week, AQR Capital Management co-founder Cliff Asness gave his take on everything from the fiscal cliff to his favorite way to value stocks to why investors need to get comfortable with lower returns: The fiscal cliff is "without a doubt a negative," Asness said, and he does not endorse the suggestion that going over it would be a good thing for the country, but he is skeptical that doing so would be as cataclysmic as many fear.

Facebook Year One: Fighting Back From An IPO Flop

forbes.com — (AFP/Getty Images) Friday marks the first anniversary of Facebook 's initial public offering, an IPO that will be the foundation of case studies for years to come but may have been so unique that it provides little in the way of insight.

Wall Street Gets A Taste Of Its Own Medicine In Bloomberg Terminal Scandal

forbes.com — What's wrong with using information at your disposal to get an edge on the competition? If you work on Wall Street then not much. If you're writing about Wall Street then it appears to be a problem. That's my takeaway from the recent quasi-scandal involving Bloomberg reporters and the Wall Street firms they write about.

Eleventh-Hour Deal Ends Hess Proxy Fight: Elliott Gets Three Board Seats

forbes.com — Last week, Hess Hess agreed to split John Hess' chairman and CEO roles in an effort to appease Paul Singer 's Elliott Management. Thursday they went even further in an effort to avoid defeat in a proxy contest set to reach its climax.

Einhorn Was Adding To Apple While Waiting For Tim Cook To Follow His Advice

forbes.com — (Photo by Evan Agostini/Invision/AP) In February, David Einhorn called on Apple 's board to leverage up the company's pristine balance sheet and return some of its massive cash hoard to shareholders. His prescription for preferred shares called iPrefs would unlock value that was locked up in an overseas vault, Einhorn argued.

As Tesla Raises Capital, Elon Musk Doubles Down

forbes.com — (Getty Images via @daylife) Tesla Motors has been surging after the company reported its first quarterly profit and got a rave review from Consumer Reports for its Model S sedan. The electric carmaker's next step: raising capital.