Posts filed under “Bailouts”

Put Some More Lipstick on These Pigs

It ain’t just Lehman, Fannie and Freddie: There are plenty of other Pigs in the sea.

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Washington Mutual (WM)

wamu_ugly

We are long this — my trading desk has been trying to bottom tick this today — but I don’t like it as anything other than a trade.

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American International Group (AIG)

aig_is_a_pig

We are short this; See AIG: Don’t Try to Catch the Falling Knife (February 2008) and Bloomberg Video: AIG Earnings (August 2008).

Reuters says AIG’s exposure to Fannie Mae, Freddie Mac preferred shares between $550 mln-$600 mln, according to sources.”

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Merrill Lynch (MER)

bullish_on_america

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The only good news is the dearth of bottom calls for the sector — something that is essential for the actual bottom to occur.

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Long WM, Short AIG, No position in MER.

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UPDATE: Fortune rips off this title!  Putting lipstick on a pig 9/14/08

Category: Bailouts, Corporate Management, Credit, Short Selling, Valuation

Ackman on Freddie, Fannie bailout

Ackman on the GSE Bailout

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Ackman 

Wed. Sept. 10 2008 | 8:06 AM[12:29]

Perspectives on Lehman, Fannie & Freddie, with Bill Ackman, Pershing Square Capital Management managing principal

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Financial Crisis

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Ackman_faber_2

Wed. Sept. 10 2008 | 8:35 AM[05:06]

Discussing the ensuing financial crisis and the risk of global recession, with Bill Ackman, Pershing Square Capital Management; Nouriel Roub…

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Parting Shots

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Ackman_roubini

Wed. Sept. 10 2008 | 8:57 AM[02:23]

Final thoughts, with Bill Ackman, Pershing Sqare Capital Management and Nouriel Roubini, RGEMonitor.com

Category: Bailouts, Credit, Video

“Each crisis has been followed by a bigger crisis…”

Category: Bailouts, Federal Reserve, Markets, Technical Analysis, Trading

“Each crisis has been followed by a bigger crisis…”

Category: Bailouts, Federal Reserve, Markets, Technical Analysis, Trading

“Each crisis has been followed by a bigger crisis…”

Category: Bailouts, Federal Reserve, Markets, Technical Analysis, Trading

Nice discussion via Charlie Rose: Floyd Norris, Mohamed El-Erian, Gretchen Morgenson, Nouriel Roubini discuss the world’s biggest bailout: Fanny Mae and Freddie Mac

 

Hat tip, Paul!

Category: Bailouts, Credit, Video

GSE Honeymoon Is Over

Category: Bailouts, Credit

Gross on PIMCO’s Fannie Trade

Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., talks with Bloomberg’s Tom Keene and Pimm Fox about the impact of the U.S. government’s takeover of Fannie Mae and Freddie Mac on Pimco’s business and mortgage debt, and the outlook for Federal Reserve monetary policy.

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Gross

00:01 Impact of Fannie, Freddie takeover on Pimco
02:18 Effect on housing market; foreign investors
04:24 Reasons behind takeover; Fed monetary policy
06:18 Outlook for U.S. mortgage market
Running time 07:36

Last Updated: September 7, 2008 21:21 EDT

Category: Bailouts, Video

Gross on PIMCO’s Fannie Trade

Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., talks with Bloomberg’s Tom Keene and Pimm Fox about the impact of the U.S. government’s takeover of Fannie Mae and Freddie Mac on Pimco’s business and mortgage debt, and the outlook for Federal Reserve monetary policy.

click for video

Gross

00:01 Impact of Fannie, Freddie takeover on Pimco
02:18 Effect on housing market; foreign investors
04:24 Reasons behind takeover; Fed monetary policy
06:18 Outlook for U.S. mortgage market
Running time 07:36

Last Updated: September 7, 2008 21:21 EDT

Category: Bailouts, Video

Gross on PIMCO’s Fannie Trade

Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., talks with Bloomberg’s Tom Keene and Pimm Fox about the impact of the U.S. government’s takeover of Fannie Mae and Freddie Mac on Pimco’s business and mortgage debt, and the outlook for Federal Reserve monetary policy.

click for video

Gross

00:01 Impact of Fannie, Freddie takeover on Pimco
02:18 Effect on housing market; foreign investors
04:24 Reasons behind takeover; Fed monetary policy
06:18 Outlook for U.S. mortgage market
Running time 07:36

Last Updated: September 7, 2008 21:21 EDT

Category: Bailouts, Video