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New Missive from Howard Marks
Submitted by Tyler Durden on 01/14/2009 17:05 -0400The latest letter from the intellectual titan of Oaktree... Enjoy
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- 1023 reads
Death List Keeps Growing
Submitted by Tyler Durden on 01/15/2009 15:23 -0400We made some predictions yesterday about the bankruptcies to hit dockets today.... and they are starting to roll in:
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Banc Of America Bail-Out #2
Submitted by Tyler Durden on 01/15/2009 20:45 -0400
CNBC reporting that Banc of America to receive more tax money to fund their phenomenally well-run operation. With purchases such as Angelo Mozillo's golden parachute and Merrill Lynch's empty cubicles this makes lots of sense. Looks like federal guarantee will be $100-$200 billion...
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Investing Was The Beginning, Now It's Moved Out Of The Basement, It's Called Project Mayhem
Submitted by Tyler Durden on 01/11/2009 19:04 -0400
And Mayhem it is, as investors are running for the hills, unwilling to find out who the next Madoff turns out to be, and end up stuck with a big fat donut. According to an analysis done by Hedgebay, a secondary hedge fund interest market maker, the average dollar invested in hedge funds traded for an all time low of 87 cents as of November (waiting for December numbers with baited breath).
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One Day Archeologists Will Care About This
Submitted by Tyler Durden on 01/12/2009 21:05 -0400This explains pretty well why some people still choose to make the mega rich even mega richer (although less so with each passing day). Why there is a video of it out there is really odd... Props to hedgefundblogger for tracking this down.
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Money-Grubbing, Cholesterol-Spiking Idea of the Day
Submitted by Tyler Durden on 01/13/2009 15:43 -0400
As anyone who has ever visited the West Coast will attest, Jack In The Box is the greatest hamburger joint that has ever lived. In-N-Out (mmmm....
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Steel Partners in Need of Serious Rust Removal
Submitted by Tyler Durden on 01/11/2009 19:41 -0400
Steel Partners, the fund of activist investor and up-to-now wunderkind manager Warren Lichtenstein, has fallen for some tough times.
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Another Kick in Cox' Balls
Submitted by Tyler Durden on 01/12/2009 21:44 -0400All you ever needed to know about Icon Wealth Management, that the Government already knew of course. Courtesy of Marc Schrenker
http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_OrgSearch.aspx
type in Icon Wealth and read to your heart's delight.
Looks like this is Mini-Bernie at best. He has filed $27mm in assets with the SEC, and only 182 accounts.
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Money-Grubbing, Cholesterol-Spiking Idea of the Day
Submitted by Tyler Durden on 01/13/2009 15:43 -0400
As anyone who has ever visited the West Coast will attest, Jack In The Box is the greatest hamburger joint that has ever lived. In-N-Out (mmmm....
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Titanium Looking Kinda Rusty Too
Submitted by Tyler Durden on 01/11/2009 23:22 -0400People suffering from a morbid obsession with titanium dioxide and its principal producer, Tronox Inc., are frantically clicking refresh on Pacer to see the moment the company files for Chapter 11 in Southern District of NY on this cold evening. Reuters cites sources that the filing should come any moment.
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His Name Is Robert Paulson... Er, JP Morgan
Submitted by Tyler Durden on 01/12/2009 22:21 -0400All is well.... Repeat All is well.... In fact we can't wait to tell this to you asap.
BN 16:20 *JPMORGAN CHASE HAD EXPECTED TO RELEASE 4Q EARNINGS ON JAN. 21
BN 16:20 *JPMORGAN CHASE SETS NEW DATE OF JAN. 15 FOR 4Q RELEASE :JPM US
BN 16:20 *JPMORGAN CHASE SETS NEW DATE FOR 4Q EARNINGS RELEASE :JPM US
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U.S. Not Spain, S&P Claims
Submitted by Tyler Durden on 01/13/2009 16:52 -0400
Just as our opinion of S&P was notched up to deplorable from abysmal, they go ahead and pull this wool over our eyes:
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Ackman and Burkle Agree to Disagree over America's Illiteracy Trends
Submitted by Tyler Durden on 01/12/2009 00:00 -0400
Even as Barnes and Noble posts a scary -7.7% comp store number for the "holiday" period, two major holders play hot potato with a big chunk of the retailer's equity.
Too Much Bad Fish Scuttles Landry's LBO
Submitted by Tyler Durden on 01/12/2009 22:58 -0400
Landry's stock tumbled today to an all time low of $6.63, before regaining a little and closing 50% down after announcing in a very cryptic press release that it is cancelling its LBO/MBO with Fertitta Holdings, the family that own
U.S. Not Spain, S&P Claims
Submitted by Tyler Durden on 01/13/2009 16:52 -0400
Just as our opinion of S&P was notched up to deplorable from abysmal, they go ahead and pull this wool over our eyes:
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- 962 reads