William Ackman, the man behind Pershing Square‘s activist battle with Target (TGT), appeared on CNBC this morning and did a reasonably good job at explaining his reasons for his challenge to the company. He did make some compelling arguments regarding the lackluster backgrounds of some of the existing board members and management’s own non-history of…
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The Shareholder Bill of Rights: Better Late than Never
I’ll start off here with a caveat…I know that Chuck Schumer is pushing this bill because of the populist impression it gives, keeping in mind that some of his biggest fundraisers over the years have been pro-corporate entrenchment and traditional Wall Street interests. I also know that this is the type of after-the-fall legislation that…
Why Ackman Can't Back Down from Target Fight
Barron’s writer Andrew Bary gave voice to a question that is probably on many analysts’ and investors’ minds…what exactly is Bill Ackman‘s beef with Target (TGT)? The company has done just about everything right. Pershing Square‘s Ackman is basically barking up the wrong tree and I think I know why. He’s painted himself into a…
Market Recap: Sunshine Day for Sears
[youtube= http://www.youtube.com/watch?v=c6wTY37EvQI] The Reformed Broker, AKA Sam the Butcher, here with today’s Market Recap… Holders of Sears Holdings (SHLD) can celebrate like the Brady’s today in the above video: “Put on your Sunday best kids, we’re going to Sears!” – Mike Brady The retailer without a purpose came out this morning with an unexpected profit, albeit one…
Rise of the Silver Surfer
I have a new sector, a new weapon in my arsenal, an area of the market that I’ve ignored for over 10 years due to the lack of quality pure-plays. I’ve been trading and investing in various gold ideas forever, but a lot has changed with the white metal, and now I’m happy to report…
Market Recap: Today was a Brick
[youtube=http://www.youtube.com/watch?v=KakinPNRiDc] The Reformed Broker, AKA Brian Fantana, here with today’s Market Recap… The Dow lost around 130 points, but surprisingly, Bank of America (BAC), Citi (C) and the other big banks were flattish all day. Here’s where the carnage was: Laggards in Price Performance (Intraday) Office Supplies -6.40% Internet Service Providers -6.30% Resorts & Casinos…
Hooray for the Credit Card and Loaded Weapon Bill!
Pop quiz: What’s the quickest way to ensure that credit availability to consumers will dry up immediately? That’s an easy one…make it less profitable for credit card issuers to lend! Combined with the additional risk of lending in a recession, that’ll do the trick. And that’s exactly what Obama‘s anti-business gang did next: From the…
Market Recap: BAC Hangover?
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…
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…
