Morning Roundup: The Oracle’s Apprentice

  • Andrew Ross Sorkin would like to know what insider trading is, because the rules aren’t crystal clear. [NYT]
  • Much like Christina Aguilera, inflation is a genie in a bottle. The question, then, is whether Fed Chairman Ben Bernanke’s quantitative easing regime is “rubbing it the right way.” [Bloomberg]
  • Warren Buffett has selected 39-year-old Connecticut hedge fund manager Todd “Puffy” Combs to manage a part of Berkshire Hathaway’s $100 billion investment portfolio, potentially clearing a path for Combs to eventually succeed the 80-year-old Buffett as Berkshire’s chief stock picker/oracle. [WSJ]
  • AIG president and CEO Robert Benmosche has been diagnosed with cancer. He is undergoing an aggressive chemotherapy regime and his prognosis is good. [AP]
  • Citigroup CEO Vikram Pandit thinks the new Basel III capital requirements are excessive. Mervyn King, the head of the Bank of England, thinks they are insufficient. [FT]

mtaylor [at] observer.com | @mbrookstaylor