• Phoenix Capital...
    07/03/2015 - 20:26
    Greece just took a hit… and once again it’s depositors that will take it on the chin. But this process is only just begun. Similar Crises will be spreading throughout the globe in ...

Private Equity

Tyler Durden's picture

Frontrunning: February 9





  • Greek Risk Draws Global Concern on Lehman Echo Warnings (BBG)
  • Merkel to urge caution in U.S. as pressure builds to arm Ukraine forces (Reuters)
  • West Races to Defuse Ukraine Crisis (WSJ)
  • German-French Push Yields Ukraine Summit Plan With Putin (BBG)
  • Swiss Leaks lifts the veil on a secretive banking system (ICIJ)
  • Italy Lenders Seen Cleansing Books Amid Bad-Bank Plans (BBG)
  • G-20 Finance Chiefs Face Tough Test in Istanbul (WSJ)
  • Demand for OPEC Crude Will Rise This Year, Says Group (WSJ)... or rather prays
  • U.S. Banks Say Soaring Dollar Puts Them at Disadvantage (WSJ)
 
Tyler Durden's picture

The End Of Guitar Center (And An Irrational Addiction To Growth & The Scourge Of Unregulated Structured Finance)





The fact is, the die is cast. In a couple of weeks, Guitar Center will need to report its Christmas performance to its bondholders. If things do not look good, its bonds will be ripped apart like RadioShack’s. Here’s what this really means: it’s the end of big box retail, an irrational addiction to growth, and the scourge of unregulated structured finance. For a few years, unwise urban planning and unregulated banks created a new bubble in the American suburbs. The objective truth is that the growth of the last decade was financed by banking fraud, and that financial trickery of this sort only fools people in the short-term. Eventually, you must have a product people demand, sold by competent people who care about the business, financed in a way that makes sense.

 
Tyler Durden's picture

Frontrunning: February 4





  • Arab World Unites to Condemn ‘Barbaric’ Death of Jordanian Pilot (BBG)
  • Jordan hangs two Iraqi militants in response to pilot's death (Reuters)
  • As Oil Prices Climb, Some Harbor Doubts (WSJ)
  • Taiwan plane cartwheels into river after take-off, killing at least 19 (Reuters)
  • Seven dead as commuter train hits car near New York City (Reuters)
  • Apollo’s 600% Profit on Oil Company Leaves Rivals Behind (BBG)
  • Greece's rock-star finance minister Yanis Varoufakis defies ECB's drachma threats  (Telegraph)
 
Tyler Durden's picture

First Germany, Now ECB Rejects "Latest Greek Bailout Plan"





So much for the Greek "conciliatory proposal" story, driven by yesterday's FT article, and the catalyst for Monday's late day market surge.

 
Tyler Durden's picture

We Officially Declare The End Of RadioShack LBO Rumors





For anyone who has traded RadioShack's bonds or stocks over the last decade or so, the constant threat of an LBO has been the bane of any fundamental analysis as one Credit Suisse memorably described it as "a company in a virtual state of constant collapse." It appears, with multiple default notices this week and the news that NYSE will suspend/delist trading in the ever-on-the-block company, that the 'LBO rumor' threat is over. With several firms (Sprint, Sanpower, and Amazon) mulling post-bankruptcy purchases, the concept of a pre-petition savior appears dead in the water...

 
Tyler Durden's picture

Frontrunning: February 2





  • Germany Sees No Need to Scrap Troika in Overseeing Greek Turnaround (WSJ)
  • European markets subdued as Chinese data weighs (Reuters)
  • U.S. Oil Workers Strike Enters Second Day as Crude Prices Slide (BBG)
  • Oil prices rally above $55 as investors pile in (Reuters)
  • Obama Wants a New Tax on U.S. Companies' Overseas Profits (BBG)
  • If Trading Bonds Is Hard, Think About Pain When Rates Rise (BBG)
  • Julius Baer Braces for Swiss Franc Impact (WSJ)
  • Coke, Budweiser win as Super Bowl ad battle gets serious (Reuters)
 
Tyler Durden's picture

Occupied By Wall Street – The Latest TARP Taxpayer Screw-Job Is Revealed





The Treasury-created market has benefited a few savvy investors, while saddling taxpayers with a loss. The Treasury, which has held 185 auctions to date, said it has raised about $3 billion on TARP investments that were originally valued at $3.8 billion, for a loss of $800 million at the auctions. The Treasury “set up this market where investors could come in quickly and flip and profit,” said Christy Romero, TARP’s special inspector general, in an interview. Three private funds have won almost half the shares available at auction, often netting either a profit on paper or on the resale, according to SIGTARP.  “As a banker I was happy, but as a taxpayer I was not at all happy,” said Chief Financial Officer Donald Boyer. “The discount came out of taxpayers’ pockets.” 

 
Tyler Durden's picture

Frontrunning: January 29





  • Who Doubts Yellen's Policies? Summers for One (BBG)
  • Samsung, Apple Back in Dead Heat for Global Smartphone Dominance (WSJ)
  • Islamic State purportedly sets new deadline for hostage swap (Reuters)
  • Turkey's $7.9 Billion Mystery Money That's Simply Vanished (BBG)
  • How a Two-Tier Economy Is Reshaping the U.S. Marketplace (WSJ)
  • U.S. Prisons Grapple With Aging Population (WSJ)
  • Hasenstab Sees $3 Billion Vanish in Ukraine as One Big Bet Sours (BBG) - maybe he should BTFD, pardon, "invest" in Belarus next?
  • Belarus May Seek Debt Restructuring in 2015, President Says (BBG)
 
Tyler Durden's picture

Teachers' Retirement Funds Are Piling Into Manhattan Real Estate At Record High Prices





Wondering who the greater fool is, wonder no longer. TIAA-CREF (Teachers Insurance and Annuity Association – College Retirement Equities Fund) essentially manages the investments of people who know the least about investing, i.e., muppets. As such, it came as no surprise that TIAA-CREF might serve as an important bag-holding vehicle for bubble assets just before a fall (when the latest Central Bank bubble pops), tempted by juicy 4% yields... in other words, teachers and nurses are shattering property records to fund their retirement.

 
Tyler Durden's picture

Frontrunning: January 28





  • Fed seen remaining patient with rate guidance amid global turmoil (Reuters)
  • National Weather Service apologizes for blizzard forecast miss (CBS)
  • Greek PM Tsipras pushes on with radical change, markets tumble (Reuters)
  • Obama Drops Plan to Raise Taxes on ‘529’ College Savings Accounts (WSJ)
  • Hard Choices on Easy Money Lie Ahead for Fed Chief (Hilsenrath)
  • Debt That Once Boosted Its Cities Now Burdens China (WSJ)
  • Skymark Said to File for Bankruptcy After Airbus Deal Flops (BBG)
  • Heavy Fighting Drains Ukraine Government’s Options and Finances (WSJ)
 
Tyler Durden's picture

Frontrunning: January 26





  • Alexis Tsipras: the Syriza leader about to take charge in Greece (Guardian)
  • Tsipras to form anti-bailout Greek government after big victory (Reuters)
  • Tsipras Forges Anti-Austerity Coalition in EU Challenge (BBG)
  • East Coast braces, flights canceled as 'historic' blizzard bears down (Reuters)
  • Rebels press Ukraine offensive, Obama promises steps against Russian-backed 'aggression (Reuters)
  • Syriza Victory Brings Hope for Immigrants of EU Access (BBG)
  • For Saudis, Falling Demand for Oil Is the Biggest Concern (BBG)
  • Oil prices fall on market relief over Saudi policy (Reuters)
 
Tyler Durden's picture

Frontrunning: January 23





  • Saudi Arabia’s New King Probably Will Not Change Current Oil Policy (BBG)
  • Saudi King’s Death Clouds Already Tense Relationship With U.S. (WSJ)
  • Oil Pares Gains as New Saudi King Says Policies Stable (BBG)
  • Kuroda Says BOJ to Mull Fresh Options in Case of More Easing (BBG)
  • U.S. pulls more staff from Yemen embassy amid deepening crisis (Reuters)
  • Putin Said to Shrink Inner Circle as Hawks Beat Billionaires (BBG)
  • A Few Savvy Investors Had Swiss Central Bank Figured Out (WSJ)
 
Tyler Durden's picture

Frontrunning: January 21





  • Obama Targets Income Gap in Address That Shapes 2016 Election (BBG)
  • Republicans Reject Obama’s Main Economic Proposals (WSJ)
  • Senate’s Shelby Says White House Bank Tax Is Dead on Arrival (BBG)
  • Is Dollar Next? Investors Reassess After Swiss Shock: Currencies (BBG)
  • Bank of Japan Cuts Price Forecast, Maintains Record Stimulus (BBG)
  • Pound Weakens After BOE Policy Makers Drop Call to Raise Rates (BBG)
  • Putin not flinching on Ukraine despite economic crisis (Reuters)
  • Indonesia will not make public full preliminary AirAsia crash report (Reuters)
  • Party Hasn't Stopped for Russians at Davos Even With Ukraine Sanctions (BBG)
 
Capitalist Exploits's picture

The Best Offshore Asset Protection You’ve Probably Never Heard About





Anyone that has assets worth protecting should do just that - protect them!

 
Tyler Durden's picture

Frontrunning: January 14





  • U.S. Index Futures Decline on Commodities Slump, Growth Concerns (BBG)
  • Al Qaeda claims French attack, derides Paris rally (Reuters)
  • Charlie Hebdo With Muhammad Cover on Sale With Heavy Security Precautions (BBG)
  • How an Obscure Tax Loophole Brought Down Obama's Treasury Nominee  (BBG)
  • ECB’s bond plan is legal ‘in principle’ (FT)
  • Charlie Hebdo fallout: Specter of fascist past haunts European nationalism (Reuters)
  • DRW to acquire smaller rival Chopper Trading (FT)
  • Oil fall could lead to capex collapse: DoubleLine's Gundlach (Reuters)
 
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