Archive - Jun 11, 2009
May Foreclosure Activity Decreases By 6%, Up 18% Year Over Year
Submitted by Tyler Durden on 06/11/2009 04:41 -0500After hitting a record high in April, RealtyTrac has announced that the pace of foreclosures has slowed down, and in May dropped by 6%. Nonetheless, “May foreclosure activity was the third highest month on record, and marked the third straight month where the total number of properties with foreclosure filings exceeded 300,000 — a first in the history of our report,” said James J.
Fontainebleau Fiasco Soon To Get Epic
Submitted by Tyler Durden on 06/11/2009 04:20 -0500And some thought yesterday's bankruptcy of LV casino Fontainebleau would be the end of it. Today a new lawsuit has erupted, this one seeking unspecified damages from a variety of defendants, most prominently Bank of America. According to the Las Vegas Sun:
Overalottment: June 10
Submitted by Tyler Durden on 06/11/2009 03:30 -0500- Largest smuggling bust ever: $134.5 billion in bonds seized from Japanese nationals in Italy (AsiaNews hat tip Gayle)
- Must read Jonathan Weil: Nouveau DeTARPed ETF traders rejoice - Banks trade TARP for bonuses, debauchery, jets (Bloomberg) [Scores reopened?]
- Retail landlords need a "reality check" (R
A common sense guide to investing
Submitted by Tyler Durden on 06/11/2009 01:05 -0500Apologies for the lack of posting but I've been back home, on vacation the past couple of weeks. As you can imagine in this economy, being a "finance" guy in a group of "non-finance" people typically elicits a number of questions, but one that surprisingly came up over and over again was "What do I do?" (i.e. how should I invest). The buy-and-hold model has ruined many people and individual investors seem completely lost now that the standard go-to plan has clearly failed to meet the most basic of objectives: capital preservation in times of need.
Jim Simons Will Not Retire, Pushing For Stake Sale To CIC, SPY Soon To Hit Infinity
Submitted by Tyler Durden on 06/11/2009 00:13 -0500Everyone's favorite SPY gunner, chain smoker and owner of the 60th fastest supercomputer in the world is putting retirement plans on hold (hopefully not because he plans on driving the SPY to infinity+Pi), and instead is trying to dump a multi-billion portion of RenTec to China Investment Corp, just as that great regulatory Rip Van Winkle f/k/a SEC woke up from hibernation and decided to poke a tad in the East Setauket books.
The Source?
Submitted by Tyler Durden on 06/11/2009 00:05 -0500Are we the source of the meme, or simply the source for uncredited idea generation? Who knows. At least we aren't the only Ricardo fans out there.
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