Archive for November 2007

Dell Weighs On Tech

November 30, 2007  ·  Category: Market Commentary, Stocks
Dell reported earnings after the close last night and investors appear not to have liked what they heard. While revenue was up 8.5% and net income 27%, gross margins were a bit below where analysts expected ...
Posted by Greg Feirman  ·  No Comments »

Uncle Ben Is “Nimble” And “Flexible”

November 30, 2007  ·  Category: Federal Reserve, Market Commentary
"Economic forecasting is always difficult, but the current stresses in financial markets make the uncertainty surrounding the outlook even greater than usual.  We at the Federal Reserve will have to remain exceptionally alert and flexible ...
Posted by Greg Feirman  ·  No Comments »

Markets Consolidate Gains, Wait On Fed

November 29, 2007  ·  Category: Federal Reserve, Market Commentary
"Now the market smells a move by the Fed in two weeks." - Jim Swanson, Chief Investment Strategist, MFS Investment Management.  Quoted in "Fed's Hints of a Rate Cut Cheer Markets" (subscription required). Today was actually a ...
Posted by Greg Feirman  ·  No Comments »

“Nimble” = Good, “Lumpy” = Bad

November 28, 2007  ·  Category: Federal Reserve, Market Commentary
"It's more of a technical correction of oversold conditions.  There's no fundamental reason that today should [bring a] rally." - Tom Higgins (subscription required), Chief Economist, Payden & Rygel  In a speech this morning, Fed Governor Donald Kohn ...
Posted by Greg Feirman  ·  No Comments »

Dimensional Fund Advisors And The Efficient Market Religion

"If you put a thousand people in barrels and push them over Niagara Falls, some of them will survive.  And if you take those guys and push them over again, some of them will survive.  ...
Posted by Greg Feirman  ·  No Comments »

Goldman Ups Recession Probability To 40%-45%

November 27, 2007  ·  Category: Macro Economics
Goldman today upped its probability forecast for a recession in 2008 from 30% to 40%-45%. Top Gun also updated our extremely complex, computerized, mathematical, algorithimic, dynamic stochastic, recession model and upped our recession probability from 99.999998% ...
Posted by Greg Feirman  ·  No Comments »

Up, Down And All Around – Wall Street Does Its Thing

November 27, 2007  ·  Category: Market Commentary
Markets were down big yesterday on news that HSBC was taking $45 billion worth of mortgage backed securities from some of its SIVs onto its balance sheet and speculation that other banks, like Citigroup, might ...
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A Maverick On Wall Street: Meredith Whitney – The Analyst Whose Bold Call On Citi Convinced Wall Street

November 27, 2007  ·  Category: Business Culture and Current Events, Stocks
"I think the world of her.  She's bold and she nails it." - A multi billion dollar portfolio manager "Meredith is not afraid to say what she thinks.  I think her call on Citi was dead on.  ...
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Citi Sells Stake To Abu Dhabi

November 26, 2007  ·  Category: Business Culture and Current Events, Market Commentary, Stocks
Citigroup (C) just announced that they are selling a $7.5 billion stake to the sovereign wealth fund of Abu Dhabi, one of the United Arab Emirates. The stake is in the form of equity units which ...
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Another Wild One On Wall Street

November 20, 2007  ·  Category: Market Commentary
Stocks were up in the morning on the strong report and forecast from Hewlett Packard (HPQ). But they started to sell off in the afternoon as investors digested Freddie Mac's (FRE) report of a $2 billion ...
Posted by Greg Feirman  ·  No Comments »