The market turned bearish, but four of the five student teams competing in the ’07-’08 UCI Merage B-school’s Polaris Investment Competition made money. In fact, sponsor Chuck Martin says their 12-month returns, ranging from 7% to 31%, “would have beaten 90% of the professional managers on Wall Street.” Investor Martin is now in his fifth year of allowing dozens of MBA apprentices to play with more than $1 million of his money. Martin, who has also awarded nearly $500,000 in scholarships, says the past year “offered an unusual opportunity for students to learn about making decisions under stress.” For him, too: His Mont Pelerin Capital, as most hedge funds, has endured a “challenging” year …
Silver linings: Some observers report that commute times have improved a bit as high gas prices and a weak economy have removed some cars from the road. Trains and buses are fuller. And it’s easier to get a table at many restaurants, although not at some hot spots …
John Gates, president of Triumph Companies in Irvine, reports from the trenches: “Ending in 2006 we had acquired over $1.5 billion in real estate assets using 1031, tenants-in-common financing. The average offering size was between $10 million and $20 million. The average time to raise the capital from up to 35 accredited investors was seven days with little fallout. Boy, have the times changed! Last October we closed a $30 million purchase using corporate funds and mezzanine financing. We have yet to complete the $13 million investor capital raise” …
Rick Warren, the surfing-and-rocking mega-pastor of Saddle-back Church in Lake Forest and one of Time magazine’s 100 Most Influential People in the World, admits that he’s watched R-rated movies, “but not as a general rule” because he has better ways to spend his “purpose-driven” time. “I say, ‘Kay, you watch the sex scenes and I’ll watch the violence’,no, just kidding.” The Warrens discussed themselves and their ministry on “Inside OC” …
Nine-time Tony Award-winner Tommy Tune will get the Lifetime Achievement award at Chapman U’s American Celebration gala on Nov. 1 …
Palisades Tennis Club in Newport Beach now boasts three generations of NCAA champions: owner Ken Stuart (Long Beach State 1966), tennis director Robert Van’t Hof (USC 1980) and son Kaes Van’t Hof, also of USC. The younger Van’t Hof, who won the national doubles title last month, is playing with the Newport Beach Breakers …
OC Register reporter and former OCBJer Mathew Padilla has co-authored a book on the subprime debacle, “Chain of Blame,” available at Amazon.com …
The Young Presidents Organization SoCal chapter plans a $1,000-per-person charity benefit Sept. 24. The venue isn’t set but the lineup includes broadcaster Roy Firestone, football Hall of Famer John Elway, baseball Hall of Famer Dave Winfield, skateboarding legend Tony Hawk and “American Idol” finalists Michael Johns and Carly Smithson. Info at www.lifechanginglives.org.
