UBS Pulls A Citigroup – Takes $10 Billion Subprime Writedown, Receives $11.5 Billion Investment

The big news this morning is an announcemement by UBS that they will take a $10 billion writedown on their US subprime exposure and also that the Singapore Investment Authority ($9.75 bil) and an unnamed Middle East investor ($1.75 bil) have made investments…

Retailers Report Another Mediocre Quarter; Bush Set To Announce Mortgage Freeze Plan

Retailers reported November same stores sales this morning and the numbers again appear mediocre.  Same store sales increased 4% but because of a calendar shift, this year’s November included the week after Thanksgiving whereas last week’s “November” did not (subscription required). …

Santa Claus Rallies

With today being the first trading day of December, it is worth keeping in mind that historically December has been one of the best months for stocks. One reason December is a good month for stocks is that many money…