The Modified Uptick Rule Debate

Coming Soon! The following is not an argument for or against shorting, as that is a non-debate.   The presence of short-selling is a necessary component of a free, liquid and healthy market.  The question we’ll focus on here is what type of form the safeguards against abusive short-selling should take when the discussion by…

Private Equity, Public Embarrasment

Apollo Management sure has made some awful deals recently… From Bloomberg: Apollo founder Leon Black, 57, is trying to salvage some of the $60 billion worth of companies he has acquired since 2006. Retailer Linens ‘n Things Inc. filed for bankruptcy last year. Casino operator Harrah’s Entertainment Inc. is restructuring debt to stave off default….

Where Do Shopping Malls Go When They Die?

This is an interesting topic, albeit a morbid one.  Shopping malls are an American institution, like Baseball or Five Dollar Footlongs. The question of what you can do with the physical space once a mall closes is suddenly apropos, as the retail picture grows more grim with each passing day.  Ever since the first modern,…

More Hot Links: Original Dow 30 & Marc Dreier

More Hot Links for Weekend Reading Here’s the story about a lawyer you will hate even more than all of the other lawyers you already despise.  Marc Dreier was a powerhouse bi-coastal player, ripping off hedge funds, real estate developers and possibly one of my favorite rock bands in the world, Wilco.  New York Magazine…

Hot Links: Trading, PPIP, Protests, Spices & Econoland!

Hot Links for Weekend Reading Ever wonder about the “being responsible” side of trading on your own for a living?  I have a lot of trader friends and I respect the discipline they show in terms of segregating moneys and so forth in the heat of the battle.  Michael Higgins of Tickerville wrote a really…

TGIF: 8.5% Unemployment…Here's the Anthem

In honor of another horrific Non-Farm Payroll number, here is the ultimate anthem for the unemployed, George Thorogood & The Destroyers with a live version of “One Bourbon, One Scotch and One Beer“. Take it away, George… [youtube=http://www.youtube.com/watch?v=kgxhLJKMDsc] From the Bureau of Labor Statistics: Nonfarm payroll employment continued to decline sharply in March (-663,000), and…

Dude, Where's My Hedge?

This morning, Bloomberg has an article about how hedge fund managers are no longer in the driver’s seat when dealing with clients.  They are now flying to visit with their accounts when they used to force them to come to Connecticut.  They are adjusting fees downward to keep assets from CALPERS and other large investors. …

Market Recap: Monster Day for US Market, Vegas Stocks Lead the Way

[vodpod id=Groupvideo.2311899&w=425&h=350&fv=m%3D27467187%26type%3Dvideo%26a%3D0] Let me get this straight, Obama hosted an unscripted Q&A and the market still went up triple digits?  That’s Gangsta.  This will take some getting used to as our prior President wasn’t that good at the whole off-the-cuff thing. The mark-to-market standards easing, while already telegraphed in advance, was like an anabolic steroid…

Fashion Meets Finance: Gold is THE Trend for Spring

If I’m on a flight and forget to bring my own reading material, I’ll pretty much read anything, even the ingredients on a candy bar wrapper.  I recently resorted to sharing a nearby girl’s fashion magazine stash and about halfway through Cosmopolitan (don’t laugh), I noticed something interesting:  Every fashion house on earth is doing…

The Distressed Asset Sweepstakes Begins

Here are a pair of encouraging signs of the thaw… From Forbes:  Carl Icahn knows a good deal when he sees one.  Following months of anticipation, the billionaire and activist investor made a $200.0 million offer to acquire the Tropicana Casino and Resort in Atlantic City on Tuesday…year-earlier bids for the struggling casino were closer to $1.0…