You knew it was coming sooner or later. I guess it’s coming sooner. From TheStreet.com: Goldman Sachs (GS) and other big securities dealers made bundles of money last quarter because they faced fewer competitors, but now BlackRock(BLK) is hoping to change that. BlackRock, soon to be the world’s largest money manager, is working on a…
Citigroup
Hot Links: Godspeed Patrick Swayze
Stuff I’m Reading this Morning… A roundup of various currency ETFs and how they’ve done as the dollar dropped (and dropped). (Bespoke) Sorkin: Obama‘s big reform speech fell on deaf ears on Wall Street yesterday. (DealBook) Fast-Forwarding Gordon Gekko. (NYT) They fired the Wells Fargo foreclosed mansion squatter. I kinda liked the gal. (Dealbreaker) A…
Citi Cuts Agriculture Chem Names
Farmer Brown here… Just a quick follow-up to my Monsanto piece from last week. We discussed the fact that analysts are getting antsy about seeing through the valley on the farm stocks. Today, Citigroup spit the bit on two big agriculture names. Mosaic (MOS) and Potash (POT) were both cut to hold from buy at Citi following…
Ripping Off The Wealthy Chinese
This is a shockingly absurd story. Goldman, Citi and the rest of the gentlemanly, altruistic global banks invented yet another disgraceful product at or around the peak of the stock market a couple of years back and they aimed it, not unlike a loaded gun, squarely at the foreheads of wealthy Chinese businessmen. The fact that…
Giving Cramer Credit For His Citigroup Call
I know, I know…Cramer‘s picks underperform the market and Cramer’s hedge fund performance performance was all from IPO’s and Cramer makes out with Lenny Dykstra and blah blah blah. I don’t have time to do a whole Defending Cramer piece right now and I’m not interested in having this post turned into a warzone for…
Hot Links: Whither Mainstreet?
Stuff I’m Reading this Morning… PAY ATTENTION: China curbing overcapacity in steel, cement industries. (Bloomberg) Wall Street recovers. Main Street? Not so much. (Clusterstock) Everybody Hurts: even law school students feel the recession. (NYT) Forbes on the passing of Senator Edward Kennedy. (Forbes) If you haven’t read Bailout Nation yet, here’s are 20 reviews to…
Hot Links: Appraisals, iPhones & Dinner With Gasparino
Hot Links for Weekend Reading… Baruch gets the new iPhone but is disappointed that it fails the cafe table test. (Ultimi Barbarorum) Rick Bookstaber writes the definitive checklist of suspicious things a hedge fund will do when it’s in trouble and desperately flailing to dig out. (Rick Bookstaber) Barry Ritholtz uncovers an attempt by the…
What's that, Lassie? Vikram Pandit's in Danger? Again?
Everyone’s got their “Sheila Bair of the FDIC wants Citigroup’s Vikram Pandit Fired” thing up on their sites today. I beg to differ with most…Vikram Pandit Will Survive: ______________________________________________________ From the archives: February 26th 2009 [youtube=http://www.youtube.com/watch?v=ZBR2G-iI3-I] At first I was afraid I was petrified Kept thinking they would never let Our credit ratings slide but…
Market Recap: GM's a Zero
[youtube=http://www.youtube.com/watch?v=2a8skzlhxDY] The Reformed Broker, AKA The Sugar Bear, here with today’s Market Recap… OK, finally, General Motors (GM) makes it official. They’re a Zero. Let’s move on. And would you believe that the auto-related stocks rallied? That’s either a short-squeeze or the finality and closure that this industry needed… Check ’em out at the 3:15 look,…
Morgan Stanley, Meet Smith Barney…Play Nice, Boys.
“Meet the new boss. Same as the old boss” – The Who, Won’t Get Fooled Again The Morgan Stanley Smith Barney (MS) experiment is underway. According to the AP, not much will change to start with, other than new business cards and a new phone greeting from the receptionist. The cultures of these two white shoe…
