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Fly Charts: Zuckerberg Protest Votes and Laggard Hedge Funds

From a Zuckerberg protest vote to late Italians, here are four charts that tell you what you need to know in business today.
Photographer: Justin Sullivan/Getty Images
FACEBOOK INC-A
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Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From a Zuckerberg protest vote to late Italians, here are four charts that tell you what you need to know in business today.

Unhappy Election

About eight in 10 votes cast by non-Mark Zuckerberg shareholders were to strip his control of Facebook. It was technically meaningless, but the board should pay attention.

Source: Bloomberg Gadfly analysis of Facebook's election disclosures

Notes: Zuckerberg has the power to vote 4.6 billion Facebook shares that are owned by himself and company co-founder Dustin Moscovitz. The analysis excluded from the vote tally shares marked as abstentions or broker non-votes.

Greenlight Hits Some Reds

David Einhorn is an example of how hedge funds have become an increasingly poor product over the last few years.

Source: Bloomberg

Note: What $100 invested in both Greenlight's fund and the S&P 500 on Decmeber 31, 2008, would be worth today.

Unfashionably Late

Italy made a potentially very expensive mistake by waiting until now to raise long-dated finance.

Source: Bloomberg

Easy Sell

Bayer needs a bunch of money to buy Monsanto, and Covestro's outperformance and the peculiarities of the convertible bond market have made things a lot easier.

Source: Bloomberg

And don't miss Lionel Laurent on the EU's surprisingly successful rescue of Banco Popular: "There are risks ahead, notably from litigation or worse-than-expected losses. But it's a sign the rules the European Union brought in after the financial crisis to defuse future bank failures are working."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

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