Longreads Pick
Cliff Asness’s Applied Quantitative Research—which makes its fortune, like other “quants,” by using high-speed computers and financial models of extraordinary complexity—has made a stupendous recovery in the past two years. At the end of 2010, AQR had $33 billion in assets under management. Its funds’ performance was up nearly 20 percent last year, after being up 38 percent in 2009. This is all the more striking because many analysts believe the quants helped cause, or at least exacerbated, the meltdown by giving traders a false sense of security.
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Published: Mar 29, 2011
Length: 16 minutes (4,191 words)
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Longreads Pick
On the 25th anniversary of the company’s IPO, Fortune presents the inside story of Microsoft’s stock issue. For six months, writer Uttal followed around a young Bill Gates, whom he dubbed the “rabid rabbit” as he prepared himself and his company for the public markets.
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Published: Jul 21, 1986
Length: 22 minutes (5,694 words)
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‘True Grit’ Author Charles Portis: Like Cormac McCarthy, But Funny
In The New Journalism, Tom Wolfe invokes the original laconic cutup, who happened to sit one desk behind him at the Trib office south of Times Square, as stubborn proof that the dream of the Novel—with its fortune-changing, culture-denting potential—never really died, even at a time when journalists were discovering new narrative ranges, fiction-trumping special effects. There was only one trophy worth typing for, one white whale worth the by-line and fishing wire, the Great, or even just the Pretty Good, American Novel, and Charlie Portis was going to try and snag it.
By Ed Park, The Believer (2003)
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Longreads Pick
Tom Barrack, a billionaire investor who made his fortune in real estate, has discovered a market in distressed celebrities. With Neverland Ranch and Miramax under his belt, he’s now on a shopping spree—and bringing along his buddy Rob Lowe.
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Published: Nov 29, 2010
Length: 18 minutes (4,519 words)
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Longreads Pick
Josh Harris made his fortune, long since lost, by starting two pioneering companies in New York: the first web research firm, Jupiter Communications, in 1986; and Pseudo, the first producer of television shows for the Internet, in 1993. “First of all, I’m flat broke,” he said. “And a guy like me is in New York City flat broke for a reason.”
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Published: Nov 1, 2010
Length: 12 minutes (3,199 words)
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Longreads Pick
If not for founder Mark Zuckerberg’s stubborn streak, social-media pioneer Facebook might be just another part of a giant media or tech outfit today. Instead it’s a giant on its own, with close to 500 million users, some $20 billion in market value, and millions of investors eagerly awaiting an IPO. For his new book, “The Facebook Effect: the Inside Story of the Company That Is Connecting the World,” Fortune contributor David Kirkpatrick gained unprecedented access to the company and Zuckerberg, who turns 26 this month. In this adapted excerpt, Kirkpatrick reveals Zuckerberg’s turmoil as he resisted takeover offers from a parade of moguls.
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Published: May 6, 2010
Length: 13 minutes (3,320 words)
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Longreads Pick
Beyond the goofy games is a world of useful programs that’s making fortunes and changing the rules of business
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Published: Oct 22, 2009
Length: 31 minutes (7,847 words)
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