| Friday, May 08, 2009 |
| 11:39 AM |
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An Important Housing Market Update
If you've been reading my stuff for the past few years, then you've been ahead of the real estate pack every step of the way. I warned you well in advance that the housing market would implode ... that the mortgage industry would collapse ... and that virtually ... [More...]
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| Sunday, May 03, 2009 |
| 09:22 PM |
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Quant Funds And Market Rallies: All Rotten?
Anytime I see a well-written article by another college student, I pay extra attention. Such is the case with Naufal Sanaullah’s piece on why he thinks this recent rally is unsustainable. It’s quite a comprehensive bearish argument, with good points about the technical aspects of trading and a number of shots at the accuracy of last quarter’s bank earnings – and it will also serve as a good starting point for me to assess my own view of where the market is going. Still, I couldn’t help but be struck by the conspiracy-heavy undertones (most of which were backed by links to Zero Hedge – which provides a lot of thought-provoking pieces, none of them ever being positive). I’m not going to argue on points about CDS trades with AIG, because there are [More...]
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| Wednesday, April 29, 2009 |
| 09:00 AM |
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Financial Sector Review – Net Income & Dividends
We recently reviewed Net Income (ex. Special Items) & Common Dividends for a list of 86 financial institutions in the S&P500 and made the following observations: The market value of equity has been reduced by ~ 65% since 2006 (from $2.66T on 12/29/08 to $945B on 4/24/09). The Financial Sector lost $173B (Net Income to Common ex. SI) in 2008 ($251B loss if Special Items are considered). Over 50% of the firms (44) have lowered dividends in 2009. The Financial Sector lowered Common Dividends by 68% or $41.4B ($19.9B in 2009 vs. $61.4B in 2008). 20 out of 86 [More...]
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| Sunday, April 05, 2009 |
| 05:09 PM |
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Bloomberg Derivatives: Geithner, Summers
Geithner Says He May Oust Executives at Banks Needing `Exceptional’ Aid - hmmm, I don’t trust this soundbite that he made on Face the Nation, note how Geithner makes this prospective, something that would only be done with banks that get in trouble in the future: “If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes… Where that requires a change in management and the board, then we will do that.” It could be the administration is floating another trial balloon, to see how that goes over publicly and within the bankster community. Geithner said the Obama administration has no intention of letting banks get around the rules. “Our obligation is to apply the laws that Congress just passed,” he said. Hmmm, [More...]
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| Tuesday, March 17, 2009 |
| 05:40 PM |
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John Paulson Joins David Einhorn as Gold Bug with Stake in AngloGold Ashanti (AU)
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Fund My Mutual Fund
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| 05:40 PM |
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John Paulson Joins David Einhorn as Gold Bug with Stake in AngloGold Ashanti (AU)
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Fund My Mutual Fund
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| Monday, March 16, 2009 |
| 02:28 PM |
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Stock Valuations Are Vulnerable--Government Officials Are Desperate
Welcome to the "Post-Wall Street Meltdown (PWSM)" world of investing. It feels like "the eye of the hurricane" after we were leveled by the the front-end of this "perfect storm." [More...]
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| Tuesday, February 17, 2009 |
| 12:31 PM |
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Einhorn's Greenlight Gets Very-Long Gold (GLD, GDX), Also Likes Solar (JASO, WFR) and Other Energy (AYE, PCX, PTEN)
Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=4406678 for the full story.
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StreetInsider
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| Monday, February 16, 2009 |
| 10:04 PM |
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Inside the Meltdown
FRONTLINE investigates the causes of the worst economic crisis in 70 years and how the government responded. The film chronicles the inside stories of the Bear Stearns deal, Lehman Brothers’ collapse, propping up of insurance giant AIG, and the $700 billion bailout known as TARP.
To be aired starting tomorrow, producer Michael Kirk goes behind closed [...]
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Dyslexic Research
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| Wednesday, January 28, 2009 |
| 05:20 PM |
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Top 15 For 2008 (No. 3): Bank Runs
Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=4338641 for the full story.
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StreetInsider
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| Sunday, January 25, 2009 |
| 10:20 PM |
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Suncor's (TSE: SU) CDS - Is A Default On The Horizon?
Sometimes equity investors have a habit of overlooking the bond/credit markets. But in times like these, when credit markets are tight, the states of corporate balance sheets become more important than ever and it becomes imperative for all equity investors to watch and understand the credit markets. Take Suncor Energy (TSE: SU) for example. SU was Canada’s favourite oil and gas stock from 2004 – 2007. It is one of Canada’s largest oil and gas stock (by market cap), it produces almost 300,000 Boe/d, earns over $2 billion per year, and has probably the most ambitious plans for the Albert Oil Sands – plans that were originally estimated to cost ~$6 billion. Now that oil prices have tumbled by over 70%, oil and gas companies like [More...]
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| Friday, January 23, 2009 |
| 09:37 AM |
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CME Group: Downgraded At JP Morgan And Sanford Bernstein
Two firms are out cautious/negative on CME Group (NYSE:CME): - Sanford Bernstein downgrades CME to Market Perform saying they will re-evaluate 2009-12 future volume growth rate estimates based on revised outlook for the macroeconomic and financial markets and our reduced reliance on their regression-based future volume forecasts, which have broken down over the past 2 quarters. New price tgt is $200 for CME (and $80 for ICE which is also discussed in the note). The biggest concern they have with regards to the CME is the weakening volumes the firm has seen in its interest rate futures complex. The credit markets have undergone a structural shift during the past 6-12 months in which securitization volumes [More...]
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| Thursday, January 15, 2009 |
| 10:40 AM |
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And Then There was One
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Fund My Mutual Fund
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| 10:40 AM |
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And Then There was One
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Fund My Mutual Fund
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| Wednesday, January 14, 2009 |
| 04:09 PM |
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Reserve Management accused of fraud
BOSTON, Jan. 14 (UPI) -- Massachusetts Secretary of State William Galvin has filed suit against Reserve Management Co., claiming it falsely assured investors their money was safe.
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Latest News - UPI.co...
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| Tuesday, January 13, 2009 |
| 01:49 PM |
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1,900 financial jobs in London on the line
LONDON, Jan. 13 (UPI) -- Merrill Lynch staffers in Britain said the combined British workforce with the investment firm and new owner Bank of America would be cut by 30 percent.
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Latest News - UPI.co...
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| Thursday, January 08, 2009 |
| 08:49 PM |
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Lehman to spin out private equity arm -- WSJ
The private-equity arm of failed Wall Street brokerage Lehman Brothers has reached a deal to be spun out as an independent entity, according to a media report Thursday.
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MarketWatch
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| Friday, January 02, 2009 |
| 02:21 PM |
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Top 15 For 2008 (No. 14): M&A Wreckage
Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=4269742 for the full story.
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StreetInsider
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| Thursday, January 01, 2009 |
| 08:28 AM |
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In a market year, $7 trillion vanished
NEW YORK, Jan. 1 (UPI) -- Six years of accumulated wealth in U.S. stock markets vanished in 2008 as a sustained bull market turned bearish and violent, records show.
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Latest News - UPI.co...
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| Wednesday, December 31, 2008 |
| 01:23 PM |
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2008 in review: The 'lost' stories the media missed
By MARTIN SIEFF WASHINGTON, Dec. 31 (UPI) -- The much criticized -- and usually with good reason -- U.S. news media missed or underreported a lot of big stories in 2008. Half the stories that UPI lists as the most neglected or "lost" of 2008 were in Latin America and Africa -- entire continents that have dropped off the map as far as the national U.S. media are concerned.
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Latest News - UPI.co...
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