The Reformed Broker, AKA Mean Mr. Mustard, here with today’s Market Recap… As the enthusiam for Bank of America’s (BAC) Mother-of-all-Secondaries waned, the only thing left glittering was basically gold and it’s cousin silver. Will bank shareholders end up like the guy in the photo above come the celebration’s end? Here’s the 3:30 look at…
Joshua M Brown
Alternate Realities: GOP or Dem Markets
Which of our two major political parties would be a better steward of our capital markets and financial system if left unchecked by the other party? I think either way, the result would be pretty scary. The Republicans never met a business they didn’t want to deregulate and the Democrats never met an underprivileged constituent…
Market Recap: Hospitals Hop
[youtube=http://www.youtube.com/watch?v=PzysbFcCYS8] The Reformed Broker, AKA Dr. Feelgood, here with today’s Market Recap… Goldman upgraded one of the worst hospital stocks extant, Tenet Health, this morning: Goldman said it is upgrading THC to Buy from Neutral based on more favorable view of urban hospitals. Notes potential for continued margin improvement and benefit of normalizing credit markets. Price…
(blank) Is Set To Benefit As Housing Recovers…Duh!
My new favorite cliche from this just -ending earnings season is “(so-and-so company/industry) is set to benefit as housing recovers“. Think about the absurd obviousness of this statement and the frequency with which it’s being repeated from every corner of corporate America. And you can basically put any company or industry name in that blank and the sentence…
Repaying TARP for a Return to Gluttony
I challenge you to find an article about the major banks wishing to repay TARP that doesn’t blatantly cite compensation as the banks primary motivation. Here’s a taste from Dealbook (NYT): Goldman Sachs, Morgan Stanley and JPMorgan Chase have said for weeks that they want to repay their share of the $700 billion government bailout…
This is the Remix: TRB vs. Lowe's Companies
Home improvement retailer Lowes (LOW) reported earnings yesterday and whether you want to credit easier comps or operating efficiency, the numbers themselves were better than expected. The tone of the conference call was more upbeat than what anyone would’ve expected. We’re still gonna have some fun with it. This is the Remix… Operator: Good morning,…
Market Recap: Thank You, India
[youtube=http://www.youtube.com/watch?v=NL1Nu3qZLdg] The Reformed Broker, AKA Louis Lane, here with today’s Market Recap… OMG…India’s Sensex Index literally exploded overnight, rallying more than 2000 points, or 17.34% in one session. This led to a massive commodity and overseas-exposure rally here in the US with the Dow up around 200 points at the 3:30 look. Top sectors include…
What is Donald Trump Worth?
The question of what Donald Trump‘s net worth is may be like asking “what’s the meaning of life?“. The answer is different to everyone and the most interesting part of the question is the search for the answer, not obtaining the answer itself. Donald Trump’s true net worth, therefore, is unknowable. From the Wall Street…
Hedgies are Human
Joe Nocera tells the story of a hedge fund manager who has decided to return his investors’ funds and pursue a different career path, one that isn’t focused on compensation alone. From the New York Times: Two weeks from now, a seven-year-old hedge fund called Alson Capital Partners will return around $800 million to its…
Hot Links: Lemonade, Eschatology & The Gotti Foreclosure
Hot Links for Weekend Reading Let’s kick it off with something that’s both outrageous and smart, Johnny Debacle goes ape$hit on the business practices of a kid’s corner lemonade stand. Here’s a taste: This Lemonade Stand was founded on a promise of fresh beverages to keep you cool on a hot day. Instead, management oversees…
