Archive for June 2007

Four Must Read Front Page Wall Street Journal Articles for a Bear(Stearns) Market

June 29, 2007  ·  Category: Bonds, Hedge Funds, Market Commentary, Private Equity
Make no mistake: this week, as last week, is all about the blow up of the two Bear Stearns hedge funds heavily invested in subprime mortgage backed securities.  And The Wall Street Journal, as usual, is ...
Posted by Greg Feirman  ·  2 Comments »

Investment and Commercial Banks Drag Down Market

June 22, 2007  ·  Category: Hedge Funds, Market Commentary
Whereas the previous two weeks (June 4-8 and June 11-15) were all about rising interest rates, this week was all about the blow up of two Bear Stearns hedge funds with heavy investments in subprime ...
Posted by Greg Feirman  ·  No Comments »

Fears of Bear Stearns Spillover Drag Down Market

June 21, 2007  ·  Category: Bonds, Hedge Funds, Market Commentary
"The fear is that this Bear situation is the tip of the iceberg and it could lead to other funds being liquidated." - Todd Clark (subscription required), Director of Stock Trading, Nollenberger Capital Partners "There's fear of further ...
Posted by Greg Feirman  ·  No Comments »

Morning Reading – Subprime II?; Junk Bond Bubble; The Message of the Market

June 18, 2007  ·  Category: Bonds, Market Commentary, Real Estate, Sentiment Analysis
"Negative sentiment took a firm hold of the [subprime bond] market" this past week.  "We think the weakness in the ABX will continue." - JP Morgan in a report from Friday June 15 In "Ills Deepen in ...
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The New King of Wall Street

June 15, 2007  ·  Category: Business Culture and Current Events, Private Equity
"You don't understand what drives him.  Money is the measuring stick." - Arline Schwarzman (subscription required), Mother of Steve Schwarzman, on the subject of Blackstone's IPO A few months ago Fortune ran a magazine cover with the picture ...
Posted by Greg Feirman  ·  No Comments »

Okay, That’s Enough Rallying For Now

June 15, 2007  ·  Category: Inflation, Market Commentary
"The [consumer price index] is what spurred this rally.  We lost a lot of the gains [to record highs] and now we're getting them back." - Jim Herrick (subscription required), Head Trader, Robert W. Baird So the Consumer ...
Posted by Greg Feirman  ·  No Comments »

State of CA To Issue $2.5 Billion in General Obligation Bonds Starting Monday

June 14, 2007  ·  Category: Bonds, California, Election - 2006
Last November, the voters of CA approved more than $37 billion in bond issuance to improve the state's infrastructure. Next Monday and Tuesday retail investors will be able to place orders for $2.5 billion in bonds ...
Posted by Greg Feirman  ·  No Comments »

Making Sense of the Two Week Spike In Interest Rates

June 14, 2007  ·  Category: Bonds, Interest Rates
This morning Barry Ritholtz put up a post on saying that bonds are oversold on sentiment and technicals if not valuation. In that post, he links to an article by Barron's interest rate columnist Randall Forsyth, ...
Posted by Greg Feirman  ·  No Comments »

PPI Comes In As Expected and Market Rallies; CPI Tomorrow

June 14, 2007  ·  Category: Inflation, Market Commentary
"People were fearing disaster [in this morning's Producer Price Index (PPI) report].  They got a report that wasn't too far from the consensus, and it led to a rally." - Brian Reynolds (subscription required), Chief Market Strategist, MS ...
Posted by Greg Feirman  ·  No Comments »

Finding a Bottom in Blockbuster?

June 13, 2007  ·  Category: Stocks
What a ride it's been in Blockbuster the last 6 months.  On Nov 2, 2006 Blockbuster reported an excellent 3rd quarter.  While revenue was down slightly and they posted a loss of $27.5 million they in ...
Posted by Greg Feirman  ·  No Comments »