Seven Things You Should Know October 23rd 2009 1. The trailing 10-year total return for the S&P 500 as of the end of 2008 was negative, the first time this had occurred at the end of a calendar year since 1939. (source: BTN Research) 2. The actual results for fiscal year 2009 (i.e., the 12…
Winners and Sinners: Synovus Financial (SNV)
Synovus Financial (SNV) looks like it was hit by a bus today, down 21% from last night’s close as of this posting on a worse than expected earnings report. What’s notable about this Georgia-based bank is that in a rush to get long some banks this summer and fall, SNV was mentioned favorably by way too…
The Return of the Why-P.O.
Why? Because the capital markets will support it, that’s why. We’re starting to see something I had hoped would be further down the pike during this economic recovery cycle: The Return of the Why-P.O. What in tarnation is a Why-P.O. you ask? It’s an IPO so pointless for investors to be involved with that you…
Meriwether: 3 Times a Charm?
My pal Trader Mark posted the news that John Meriwether, aka the Master of Disaster, is launching a new investment vehicle. I’ll link over to that story in a moment, but if his name doesn’t ring a bell, Meriwether was the genius behind Long-Term Capital Management, a hedge fund with so much leverage and derivative exposure, it almost crushed…
Hot Links: Ice-T Versus a Mac Laptop
[vodpod id=Groupvideo.3717525&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] Stuff I’m Reading this Morning… Here’s how nerdy Intel execs propose to their girlfriends. (LATimes) I’m sorry to hear about Fortune Mag cuting back on frequency of issues, one of the few good print ones left. (WSJ) Schwab strategist Liz Ann Sonders says buy the dips. (SmartMoney) Damien Hoffman: Is Wall Street Ready…
Enter the Lexicon: "Salarized Stock"
The Pay Czar has spoken. Here are the new rules for TARP-scrounging firms, about a year too late… From MarketWatch: WASHINGTON (MarketWatch) — Kenneth Feinberg, the Treasury Department official in charge of setting compensation for bailed-out companies, said Thursday his primary goal was to get the banks to the taxpayer’s money. “Taxpayers are in deep…
Seen Outside The Helmsley Building (Park & 45th)
Please let it be a Gordon Gecko scene and not a Shia scene. I’m as giddy as a schoolgirl. Read Also: Guess Who’s Back! (TRB) My Commentary on the Wall Street Sequel (TRB)
Hot Links: Patterns, the Pay Czar & MC Trebek
Stuff I’m Reading this Morning (sorry for the late start, Daddy put down a few drinks last night)… Goldman Sachs takes a trip to China and comes back with their 10 fave oil plays. (PragCap) ENOUGH ALREADY WITH THE PATTERN SEEKING! I agree. (AbnormalReturns) The bank lobby seems to just make up statistics whenever they…
Dow Slips on a Banana Peel
Quite a reversal. The Dow appears to have slipped on a banana peel headed into the close.
The Bailout You Never Heard About
The quintessential book on Bailouts has already been written, it’s called Bailout Nation by Barry Ritholtz and many of my colleagues and clients will be receiving a copy come the holidays. That said, there was one massive bailout in American history that hasn’t gotten much attention, probably because it was more of a social crisis…
