Archive for March 2008
JP Morgan Raises Its Bid For Bear To $10 A Share
March 24, 2008 · Category: Stocks, Market Commentary
In retrospect, the writing was on the wall: JP Morgan has increased its offer for Bear Stearns to $10 a share in stock (0.21753 shares of JP Morgan for every share of Bear).
In conjunction with ...
Posted by Greg Feirman · No Comments »
Dick Bove Calls A Bottom In Financials
March 20, 2008 · Category: Stocks, Market Commentary
The last time an opportunity of this nature existed to buy banks stocks this cheap was in 1990. The next time will be in 20 years. This is a once-in-a-generation opportunity.
- Dick Bove, Financials Analyst, ...
Posted by Greg Feirman · No Comments »
Borders Shares Crushed As It Explores Strategic Options And Receives Special Financing
March 20, 2008 · Category: Stocks
Borders Group (BGP), the bookstore chain, reported earnings before the open this morning. In addition, they announced that they have retained JP Morgan and Merrill Lynch to explore strategic alternatives and have arranged a special $42.5 ...
Posted by Greg Feirman · No Comments »
Caroline Baum: John Galt Plan Might Save US Financial System
March 19, 2008 · Category: Macro Economics, Politics
Mr. Thompson, President of the United States: The country is in a terrible state. People are starving and giving up, the economy is falling to pieces, nobody is producing any longer. We don't know what ...
Posted by Greg Feirman · No Comments »
An Opportunity To Sell Stocks And Buy Gold
March 19, 2008 · Category: Market Commentary, Gold
At my recent talks on "How To Invest In The Coming Bear Market" at the Borders Bookstore in Roseville, CA, I've been advising people to reduce their exposure to stocks and to buy gold.
The last ...
Posted by Greg Feirman · No Comments »
Fed Cuts 75 - Statement Gives Increased Weight To Inflation Concerns
March 18, 2008 · Category: Market Commentary, Federal Reserve
After cutting rates dramatically (125 basis points cumulative) on Jan 22 and Jan 30 and notably weighting their concern towards economic growth, the Fed slowed down a bit today with a 75 basis point cut.
It ...
Posted by Greg Feirman · No Comments »
50, 75, 100? What Will The Fed Do At 2:15pm EST?
March 18, 2008 · Category: Market Commentary, Federal Reserve
The market is off to an excellent start today on the strength of not disastrous earnings reports from investment banks Lehman Brothers (LEH) and Goldman Sachs (GS). Financials (XLF) are leading the way with a ...
Posted by Greg Feirman · No Comments »
Question Of The Day: Is $2 A Fair Price For Bear Stearns?
March 17, 2008 · Category: Stocks, Market Commentary
For JPM, we view the key risk to be its own balance sheet liquidity, although most of the real risk on BSC's balance sheet has been back stopped by the Fed, thereby exposing JPM to ...
Posted by Greg Feirman · 1 Comment »
Horrible News + Flat/Slightly Down Market = Up From Here
March 17, 2008 · Category: Sentiment Analysis, Market Commentary
This is the second day in the last week where horrible news might have led you to expect a big selloff that hasn't materialized.
Last Friday, a -63,000 jobs number really didn't lead to too big ...
Posted by Greg Feirman · No Comments »
Get Your Popcorn Ready: JP Morgan To Acquire Bear Stearns For $2 A Share In Stock
JP Morgan (JPM) is going to acquire Bear Stearns (BSC) for $2 a share in stock. The Fed is also somehow involved providing "special financing" (JPM Press Release, Fed Press Release).
A lot of the talk ...
Posted by Greg Feirman · No Comments »
