Archive - Apr 2009

Zero Hedge presented some perspectives on how broken the market is yesterday. The trend continues as today's quant deleveraging trade already finished (market neutral quants down 17% in March, April likely much worse).

Zero Hedge presented some perspectives on how broken the market is yesterday. The trend continues as today's quant deleveraging trade already finished (market neutral quants down 17% in March, April likely much worse).

California unemployment hits record 11.2%, market spikes on the news. Market next stop 1,200.

compliments of http://www.creditresearch.com/

California unemployment hits record 11.2%, market spikes on the news. Market next stop 1,200.

compliments of http://www.creditresearch.com/

The S&P 500 can still rally another 15% from here without violating any long-term trendline that has defined the bear market. So, who is to say that this upturn does not have more legs? But we are still convinced that the down profit cycle has more to run.

The S&P 500 can still rally another 15% from here without violating any long-term trendline that has defined the bear market. So, who is to say that this upturn does not have more legs? But we are still convinced that the down profit cycle has more to run.

Bloomberg reports that Larry Fink's BlackRock has taken over R3 Capital Management, a $1.5 billion credit hedge fund started by ex-Lehman corporate bond trading desk head Rick Rieder.

In his April 14th report Matt Rothman wrote about a dramatic, parabolic outperformance trend for names with high short interest, low prices and fundamentally weak names. He opined that all conditions for this trend to end are in place. Contrary to his very valid arguments, the trend accelerated yesterday.

Stocks with poor fundamentals, market share losses and poor earning prospects that quantitative managers tend to short, gained more than higher quality long positions.

In his April 14th report Matt Rothman wrote about a dramatic, parabolic outperformance trend for names with high short interest, low prices and fundamentally weak names. He opined that all conditions for this trend to end are in place. Contrary to his very valid arguments, the trend accelerated yesterday.

Stocks with poor fundamentals, market share losses and poor earning prospects that quantitative managers tend to short, gained more than higher quality long positions.

Zero Hedge discloses all the deals and loans which will inevitably suffer as a result of GGP's bankruptcy, in order to allow readers to make their own conclusions whether or not Bill Ackman's thesis is correct.

Excerpts from the IMF's World Economic Outlook (chapter 3 and 4).

Amazing comparisons with the Great Depression. The main difference:

Excerpts from the IMF's World Economic Outlook (chapter 3 and 4).

Amazing comparisons with the Great Depression. The main difference:

• Citi group's loose interpretation of accounting rules summarized (Bloomberg)
• Ditto for GE (Bloomberg)
• Evans-Pritchard: IMF warns over parallels to Great Depression (Telegraph)
• Hey economic geniuses! What happened?
  

• Must Read: Steve Rattner investigated by SEC for NY pension fund kickbacks (WSJ)
• Mortgage cram-down stalls in senate, may be revised (Bloomberg)
• CDS blamed for role in bankruptcy filings (FT)
• An analysis of jobless claims in the week after Easter (

Several reports came out today on CNBC and other MSM conduits about a brand new government effort which may consider expanding the already many-times revised TALF program to capture all sorts of commercial real estate securities, including the uber toxic ones, and extend the duration on TALF loans from the established 3 years to 5 or more years.