Archive - Jan 2009

Tyler Durden's picture

Weekly Chart Overview





Reading some GS equity weekly data. Key charts are presented below.
Note: as have been getting this question quite a bit, GS has the following most recent 2009 and 2010 Earnings estimates for the S&P500 (according to GS equity team; would imagine their credit teams has much different conclusions: see UBS case):

 


Tyler Durden's picture

The ISDA CDS Settlement Auction is A Hidden Goldmine for Cash-Rich Accounts





When I discussed the basis trade opportunity, the conclusion was that arbitrage in the secondary (and by extension primary) market exists due to significant dislocations in liquidity. Sure, one can argue that immediate culprits for the arbitrage have to do with counterparty risk and funding costs, which makes sense, but those are merely derivatives of the liquidity disconnects between different brokers, their accounts, and any permutations thereof.

 


January 30th

Tyler Durden's picture

Another Tax Fugitive in the Obama Camp





First Geithner, now this. In a developing story, Obama's pick for Secretary of Health and Human Services Tom Daschle is apparently on the outs with the IRS as well.

 


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The Push To Postpone the Inevitable Collapse Is Coming To An End





The only man with cojones to call the depression a depression, David Rosenberg, of what is now Bank of Countrywide Lynch, is reading behind the BS that was this morning's highly suspect GDP number, and expects the current quarter's annualized GDP decline to hit -6.3%! The two items that attract his attention are consumer and capital spending, declining 3.5% and 27.8%, respectively. So where did the fudging occur to result in the upside surprise: inventories.
 


Tyler Durden's picture

Nassim Taleb's Facebook Accountability Initiative





Nassim Taleb of Black Swan and fat tail fame, has created a Facebook site called "Make Bankers Accountable." It is feasible that this could become the 21st equivalent of the million man march on Washington. We fully endorse the initiative. Maybe eventually Obama will realize just how angry the general public is becoming.

 


Tyler Durden's picture

Nassim Taleb's Facebook Accountability Initiative





Nassim Taleb of Black Swan and fat tail fame, has created a Facebook site called "Make Bankers Accountable." It is feasible that this could become the 21st equivalent of the million man march on Washington. We fully endorse the initiative. Maybe eventually Obama will realize just how angry the general public is becoming.

 


Tyler Durden's picture

The Non-Premature Death of the U.S. Consumer





Paul Kedrosky has captured some great statistical data from mint.com about how the average U.S. consumer is faring. In a nutshell - plain horrible.

Straight from the horse's mouth (Aaron Patzer, CEO of Mint):

 


Tyler Durden's picture

Breaking News: Fresh Start Foiled at Fannie





Breitbart reports that the Feds foiled an attempt by a disgruntled former employee to destroy all the data on Fannie Mae's 4,000 computer servers nationwide.

 


Tyler Durden's picture

Blackstone Sued for Penny Pinching





Dealbreaker reports of an amusing cityfile artile, in which it seems the Financial Times is suing Blackstone scion Stevie of duplex 15/16B at 740 Park, for abusing FT.com login privileges. This is so funny cause it's true for so many.

 


Tyler Durden's picture

Charts of The Day: Japan Mfg / U.S. Durable Goods Orders





Spin this:

 


Tyler Durden's picture

New Spin on Ponzi Idea: (Not) Investing Clients' Money in TARP





Yes, this guy is small time, ripping off people for "only" $6.5 million, but his approach is unique.

 


Tyler Durden's picture

Ruble Update: Deja Vu





Getting fugly

 


Tyler Durden's picture

Death Watch: Edge Petroleum Warns It May File Bankruptcy





In an 8-K filed yesterday, Edge Petroleum announced what many had known for a long time, that it may filed for Chapter 11. Earlier the company had hired restructuring law firm Akin Gump to advise on financial and strategic alternatives.

 


Tyler Durden's picture

Simon Property Next REIT To PIK Dividends





As we discussed previously, the trend of PIKing dividends continues, with Simon Property Group announcing earlier it would pay out its $0.90 quarterly dividend in the form of 10% cash and 90% in kind. The largest mall and shopping center operator is aggressively conserving cash in a scary commercial-mortgage backed environment.

 


Tyler Durden's picture

Major CDS Prior Day Movers






(from Markit)

 


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