EDITOR PICKS

We've chosen six of the best and most-read commentary pieces from the past week including, Alan Kohler on the JP Morgan's revised offer for Bear Stearns, Stephen Bartholomeusz on the new Myer and Tom Elliott on why shorting is an essential part of our sharemarket.


Lawyers, bids and bail-outs
Alan Kohler
A mistake by JP Morgan's lawyers has forced chief executive Jamie Dimon to increase his bid for Bear Stearns five-fold. JP Morgan will also have to pick up the first $US1 billion of losses on Bear's worst assets.

In it for the long haul
Stephen Bartholomeusz
Bernie Brookes and the new Myer provide us with comprehensive arguments in favour of forgoing short term profits in exchange for long term profitability.

The high costs of power
Robert Gottliebsen
As Australians try to balance the need for new investment in power generation with the need for a carbon trading, they should look at the South African experience, where power shortages are hurting the community.

Taking one for the team
James Thomson
By selling a stake in the company he co-founded, Greg Goodman has circled the wagons, to defend the group and ward off marauding short sellers.

Tall tales of short selling
Tom Elliott
Media reports of hedge fund attacks on decent stocks are not only overblown – they threaten to stifle important investment activity.

Reviving mortgage competition
Joshua Ganz
Australia needs a policy solution that will guarantee a minimum level of liquidity in the mortgage-backed securities market – it's time to create an 'AussieMac'.

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