Posts filed under “Financial Press”

The Fall of Bear Stearns

If you haven’t read the Kate Kelly’s fantastic 3 part WSJ series about the Fall of Bear Stearns, you are missing out. (I cannot wait for the book!)

These are simply fascinating reading:

Part
One:
Missed
Opportunities
As the firm’s fortunes spiraled downward, executives
squabbled over raising capital and cutting its inventory of mortgages.
Part
Two:
Run on the Bank

Executives believed they were about to turn a corner, but rumors and fear sent
clients, trading partners and lenders fleeing.
Today:
Deal or No
Deal?
The Fed pressured Bear Stearns to sell itself, but a misstep in
the hastily drawn agreement nearly scuttled the deal.

Kudos to the WSJ editors for making the series available to the public.

Video:

 

Sources:
Lost Opportunities Haunt Final Days of Bear Stearns
KATE KELLY
WSJ May 27, 2008; Page A1
http://online.wsj.com/article/SB121184521826521301.html   

Fear, Rumors Touched Off  Fatal Run on Bear Stearns   
KATE KELLY
WSJ, May 28, 2008; Page A1
http://online.wsj.com/article/SB121193290927324603.html

Bear Stearns Neared Collapse Twice in Frenzied Last Days
KATE KELLY
WSJ, May 29, 2008; Page A1
http://online.wsj.com/article/SB121202057232127889.html

Category: Corporate Management, Credit, Derivatives, Financial Press, Trading

Herb Greenberg’s 5 Simple Lessons

Category: Earnings, Financial Press, Investing, Legal, Valuation

Macro vs. Detailed Perspective

Category: Financial Press, Markets, Psychology

Wave of Foreclosures Drives Prices Lower, Lures Buyers

Category: Data Analysis, Financial Press, Real Estate

This Bull Has (Had) Legs !

Quite a while ago, I had an interesting conversation with a smart fundie manager. We had opposing views about many things. In particular, we disagreed upon was the value of (non-price) sentiment indicators. His argument was that when stocks get cheap enough — as reflected in their Prices, P/Es and cash flow measures — other…Read More

Category: Contrary Indicators, Financial Press, Investing, Markets, Psychology

Kudlow on Ritholtz

Category: Financial Press, Media

My First TV Review

Category: Financial Press

Wanna Bet ?

Category: Data Analysis, Economy, Financial Press

Fooling_someEvery now and again, CNBC puts on a superlative show.  Friday morning’s Squawk Box was one of those times when they hit the ball out of the park.

As I was heading out the door to work, I heard David Einhorn of Greenlight Capital begin chatting about shorting stock, soft SEC enforcement, and Allied Capital (ALD). CNBC also announced that William Ackman of Pershing Square Capital was coming on in a while.

Einhorn discussed his presentation at Jim Grant’s conference Private Profits, Socialized Risk as well as his book, Fooling Some of the People All of the Time: A Long Short Story.
   

So before leaving the house, I TiVo’d Squawk, and then headed off to work. I watched the show Friday evening, and it was fantastic.  Watch the videos below and see if you agree.

• The Short & Short of It
Short selling can be good for the markets, with Owen Lamont, DKR
Fusion, David Einhorn, Greenlight Capital and CNBC’s Steve Liesman

click for video

Short_and_short

• Whistle-Blowing pt. 1

Activist investors face challenges convinsing regulators to face the facts, with William Ackman, Pershing Square Capital Management and David Einhorn, Greenlight Capital Management

click for video

Whistle_blower_1


• Whistle-Blowing, 2

click for video

Whistle_blower_2


• Hedging Your Bets

Discussing fraud on Wall St., with David Einhorn, Greenlight Capital Management president

click for video

Hedging_your_bets

>

Related

Fooling Some People site
http://foolingsomepeople.com/main/

The Speech
http://foolingsomepeople.com/main/speeches.html

Book:  Fooling Some of the People All of the Time: A Long Short Story

Jim Grant’s conference presentation Private Profits, Socialized Risk

Category: Credit, Derivatives, Financial Press, Video

Is Inflation Really Understated? (No!)

Yesterday, I wrote: “David Leonhardt’s NYT columns are oftentimes insightful and illuminating. Unfortunately, today’s column is not one of those times . . .”  I promised readers (and David) an explanation. Consider this it. First off, I interpreted Leonhardt’s column as really two distinct issues — one psychological, one statistical. He got the first one…Read More

Category: Financial Press, Inflation, Psychology