Tech Leads Market
Every market needs a sector or sectors to lead it (up or down) and every investor should know what they are. (This is one of the points from William O’Neil’s How To Make Money In Stocks that I’ve really taken…
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This Time They Ring A Bell At The Top – KKR and Och-Ziff File IPOs
One has to wonder at the motives for Kohlberg Kravis Roberts (KKR) and Och-Ziff, a hedge fund, to go public after a mediocre IPO earlier this year by hedge fund Fortress Investment Group (FIG) and a disappointing one by private…
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Blackstone Panics And Buys Hilton for $20 Billion
“Don’t congratulate me when I buy something. Congratulate me when I sell it.” – KKR Founder Henry Kravis, quoted by Bill Seidman, CNBC Chief Commentator, on CNBC this morning in response to a question I sent him (video – my question…
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When The Ratings Agencies Lower Their Ratings on Subprime Mortgaged Backed Securities, The Stock Market Will Crash
“We’re talking about massive, massive downgrades here.” – Rod Dubitsky, Asset Backed Real Estate Debt Analyst, Credit Suisse, ranked #2 last year by Insitutional Investor magazine in his category “A lot of these should be downgraded sooner rather than later.” –…
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Four Must Read Front Page Wall Street Journal Articles for a Bear(Stearns) Market
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 to be commended for…
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Investment and Commercial Banks Drag Down Market
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 mortgage bonds. Fear that other…
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Fears of Bear Stearns Spillover Drag Down Market
“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 liquidations.” – Jeffrey…
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Morning Reading – Subprime II?; Junk Bond Bubble; The Message of the Market
“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 Subprime Bond Arena”…
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Okay, That’s Enough Rallying For Now
“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 Price Index (CPI)…
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PPI Comes In As Expected and Market Rallies; CPI Tomorrow
“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 Howells May Core PPI…