Archive - Mar 2009
March 31st
Is GS Tempting The Interest Rate Black Swan With 1,056% Risk Exposure?
Submitted by Tyler Durden on 03/31/2009 14:19 -0500Last week Zero Hedge posted the most recent (Q4 2008) report from the Office of the Comptroller of the Currency, which among other things, discussed the $9.2 billion bank trading loss in cash and derivatives in Q4.
Is GS Tempting The Interest Rate Black Swan With 1,056% Risk Exposure?
Submitted by Tyler Durden on 03/31/2009 14:19 -0500Last week Zero Hedge posted the most recent (Q4 2008) report from the Office of the Comptroller of the Currency, which among other things, discussed the $9.2 billion bank trading loss in cash and derivatives in Q4.
Porsche Capital LP Gets The Nitrous Boost
Submitted by Tyler Durden on 03/31/2009 11:36 -0500The world's most profitable hedge fund, which also makes luxury cars on the side, just reported its H1 2009 results.
Sun-Times Media Files For Bankruptcy
Submitted by Tyler Durden on 03/31/2009 11:23 -0500Another former media titan hits the dust. Sun-Times Media Group, publisher of 59 newspapers, such as Chicago Sun-Times, Beacon News, Naperville Sun and a lot of weeklies just threw in the towel. CEO Jeremy Halbreich had this to say about this sad conclusion:
Frontrunning: March 31
Submitted by Tyler Durden on 03/31/2009 10:45 -0500- Financial "rescue" package = U.S.
Overallotment: March 30
Submitted by Tyler Durden on 03/31/2009 00:24 -0500- Joe Cassano is going down...
March 30th
Chris Dodd: Exercises In Rhetoric And Hypocrisy
Submitted by Tyler Durden on 03/30/2009 22:45 -0500Just released a congressional letter signed by the jolly Chairman of the House Committee on Financial Services, Barney Frank and the one and only Chairman of the Senate Committee on Banking, Housing and Urban Affairs, [and assorted donations by A.I.G.] Chris Dodd.
Oil prices and aggregate demand
Submitted by Tyler Durden on 03/30/2009 21:56 -0500Oil closed out the month on a down slope, tumbling on the strengthening of the dollar and a weaker outlook for equities. On a larger scale, the story with oil over the part 3 months or so has been the larger macro forces completely overwhelming the oil-specific supply and demand issues. For example, the market has largely been unresponsive to OPEC's desperate attempts to prop up oil prices; currently, it's estimated to be running under capacity by ~6MM barrels.
Oil prices and aggregate demand
Submitted by Tyler Durden on 03/30/2009 21:56 -0500Oil closed out the month on a down slope, tumbling on the strengthening of the dollar and a weaker outlook for equities. On a larger scale, the story with oil over the part 3 months or so has been the larger macro forces completely overwhelming the oil-specific supply and demand issues. For example, the market has largely been unresponsive to OPEC's desperate attempts to prop up oil prices; currently, it's estimated to be running under capacity by ~6MM barrels.
Ingersoll Rand Trifecta: Slashes Guidance, Reduces Dividend, Dilutes Shareholders
Submitted by Tyler Durden on 03/30/2009 21:56 -0500Ingersoll Rand released a doozy of a statement after hours today. The maker of refrigeration equipment and other assorted industrial equipment must be feeling the recessionary pinch: the company announced its Q1 sales would drop to $2.9 billion, a 27% drop, and also a substantial drop from earlier guidance of $3.1-3.2 billion. This would translate into a loss per share of around -$0.15. Indicatively, consensus estimates were for $3.13 billion in revenue and (0.01) EPS.
Daily Credit Market Summary: March 30
Submitted by Tyler Durden on 03/30/2009 20:08 -0500Zero Hedge is starting a daily comprehensive credit market summary compliments of the good folks at Credit Derivatives Research (much more useful daily commentary and analysis can be found at the site). We hope our readers find it useful.
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Deutsche Bank Chief Risk Officer Says Crisis Far From Over
Submitted by Tyler Durden on 03/30/2009 19:28 -0500Hugo Benziger, Chief Risk Officer of DB, spoke today at the Frankfurt School of Finance and Management, saying "we are in the middle of [the crisis]".
Obama Wants To Split GM Into "Good" and "Bad" Company
Submitted by Tyler Durden on 03/30/2009 17:59 -0500CNBC just out: The First Portfolio Manager, who today also became the First HR Manager of General Motors, is quoted as saying he wants to split GM into a "Good" GM and "Bad" GM, thus cementing his spot as The First Company Ethics Arbitrator. Not sure what exactly would fall into "Bad" GM, but we have our money on the Pontiak Aztec making the list. Lastly, in yet another total shift in strategy, the administration was quoted as saying bankruptcy is currently the preferred outcome for the Detroit automaker.
Morgan Stanley Female Analysts Have Large... Exit Opps
Submitted by Tyler Durden on 03/30/2009 17:01 -0500Must be a slow day on CNBC which just had a special on strippers. Of particular interest, CNBC profiles (in)famous Randi Newton, who has seems to relish the limelight of a laid off former Morgan Stanley analyst. Apparently the media goes apeshit for women with pouty looks and fake breasts. (The irony of Zero Hedge devoting a post to this is not lost)
Just got home from a lovely day filled with interviews.
Morgan Stanley Female Analysts Have Large... Exit Opps
Submitted by Tyler Durden on 03/30/2009 17:01 -0500Must be a slow day on CNBC which just had a special on strippers. Of particular interest, CNBC profiles (in)famous Randi Newton, who has seems to relish the limelight of a laid off former Morgan Stanley analyst. Apparently the media goes apeshit for women with pouty looks and fake breasts. (The irony of Zero Hedge devoting a post to this is not lost)
Just got home from a lovely day filled with interviews.


