Archive - Apr 21, 2009 - Story

The text and table below is from a Q1 performance report by the Friedberg Mercantile Group. The most notable item is the shift in long/short exposure as well as the March 31 leverage (2.34x) for the asset manager's market neutral fund.

The text and table below is from a Q1 performance report by the Friedberg Mercantile Group. The most notable item is the shift in long/short exposure as well as the March 31 leverage (2.34x) for the asset manager's market neutral fund.

The text and table below is from a Q1 performance report by the Friedberg Mercantile Group. The most notable item is the shift in long/short exposure as well as the March 31 leverage (2.34x) for the asset manager's market neutral fund.

The text and table below is from a Q1 performance report by the Friedberg Mercantile Group. The most notable item is the shift in long/short exposure as well as the March 31 leverage (2.34x) for the asset manager's market neutral fund.

Not like this is even remotely surprising, but Zero Hegde will report on the reverse inquiry by whoever the underwriter is on this one (Goldman? Merrill? 50/50) with the main 5 holders.... who happen to be: Vanguard, Barclays Global, Fidelity, State Street and.... Cohen and Steers.

Indicatively, analyst ratings:

Sakwa (ML) - Neutral
Haberman (GS) - Neutral/Cautious

UPDATE: And the winner is Merrill Lynch!!!! (and JP Morgan).

Let's go Steve - the people demand an upgrade

Not like this is even remotely surprising, but Zero Hegde will report on the reverse inquiry by whoever the underwriter is on this one (Goldman? Merrill? 50/50) with the main 5 holders.... who happen to be: Vanguard, Barclays Global, Fidelity, State Street and.... Cohen and Steers.

Indicatively, analyst ratings:

Sakwa (ML) - Neutral
Haberman (GS) - Neutral/Cautious

UPDATE: And the winner is Merrill Lynch!!!! (and JP Morgan).

Let's go Steve - the people demand an upgrade

Not like this is even remotely surprising, but Zero Hegde will report on the reverse inquiry by whoever the underwriter is on this one (Goldman? Merrill? 50/50) with the main 5 holders.... who happen to be: Vanguard, Barclays Global, Fidelity, State Street and.... Cohen and Steers.

Indicatively, analyst ratings:

Sakwa (ML) - Neutral
Haberman (GS) - Neutral/Cautious

UPDATE: And the winner is Merrill Lynch!!!! (and JP Morgan).

Let's go Steve - the people demand an upgrade

Not like this is even remotely surprising, but Zero Hegde will report on the reverse inquiry by whoever the underwriter is on this one (Goldman? Merrill? 50/50) with the main 5 holders.... who happen to be: Vanguard, Barclays Global, Fidelity, State Street and.... Cohen and Steers.

Indicatively, analyst ratings:

Sakwa (ML) - Neutral
Haberman (GS) - Neutral/Cautious

UPDATE: And the winner is Merrill Lynch!!!! (and JP Morgan).

Let's go Steve - the people demand an upgrade

Spreads were mostly wider in the US today (diverging from equity markets once again) with IG worse, HVOL wider, ExHVOL better, XO wider, and HY selling off.

Bankers - you may want to check if you can hide under your desks... Pelosi is coming.

Reported loss of -$0.39 EPS on -$0.08 consensus. Managed revenues fell 18.6% year-over-year to $3.73 billion, missing consensus estimates of $4.17 billion. The company reported a Tier 1 capital ratio of 11.4% and a tangible common equity ratio of 4.8%. Capital One added a $124.1
million allowance for loan losses.

Hey Regency, this is what happens when you don't tap ML as lead underwriter: you get the expected headline "Improving Balance Sheet" but no accompanying Upgrade or target price increase (in a note just released by Merrill Lynch/Bank of America which was somehow not a lead underwriter on this particular offering).