(Nakedshorts.typepad.com) Naked shorts has come up with an excellent collection of hedge fund letters that are just being mailed out to investors. The include those of the Maverick Fund (Lee Ainslee) and the Baupost Group (Seth Klarman). Well worth reading.
Read the letters here
Friday, October 31, 2008
Robert Rubin's Free Ride
(TheBigMoney.com) How does Clinton's Treasury secretary escape blame for the market meltdown?
Read the story here
Read the story here
Too Late to Order Halloween Masks?
Wish I had seen this earlier!
Super spooky Ben Bernanke and Henry Paulson limited edition horned masks.
Go here to check it out
Super spooky Ben Bernanke and Henry Paulson limited edition horned masks.
Go here to check it out
Small-Caps Trail S&P 500 By Most in 6 Years on Hedge Fund Sales
(Bloomberg) The smallest U.S. companies are trailing larger stocks by the widest margin in six years after hedge funds sold equities to pay back customers.
The Russell 2000 Index, where hedge funds own an average 13 percent of shares, lost 24 percent in October, ending a five- month streak of beating the Standard & Poor's 500 Index, data compiled by Bloomberg and Citigroup Inc. show. Hedge funds hold 10 percent of S&P 500 companies, according to Citigroup data.
Read the entire article
The Russell 2000 Index, where hedge funds own an average 13 percent of shares, lost 24 percent in October, ending a five- month streak of beating the Standard & Poor's 500 Index, data compiled by Bloomberg and Citigroup Inc. show. Hedge funds hold 10 percent of S&P 500 companies, according to Citigroup data.
Read the entire article
Thursday, October 30, 2008
Paulson's Swindle Revealed
(thenation.com) The swindle of American taxpayers is proceeding more or less in broad daylight, as the unwitting voters are preoccupied with the national election. Treasury Secretary Hank Paulson agreed to invest $125 billion in the nine largest banks, including $10 billion for Goldman Sachs, his old firm. But, if you look more closely at Paulson's transaction, the taxpayers were taken for a ride--a very expensive ride. They paid $125 billion for bank stock that a private investor could purchase for $62.5 billion. That means half of the public's money was a straight-out gift to Wall Street, for which taxpayers got nothing in return.
Read the entire story
Read the entire story
Pension fund gap hits $100bn
(FT.com) US companies will need to inject more than $100bn into their pension funds to cover market losses, putting them in a cash squeeze at a time when it is difficult to raise money.
The cash payment, estimated by several pension industry executives, would be spread over this financial year and next year.
Read the entire article
The cash payment, estimated by several pension industry executives, would be spread over this financial year and next year.
Read the entire article
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