What to Expect When Buying a Phoenix Bank Owned Home
This is an unanticipated follow-up to Saturday’s post “5 Tips for Buying a Bank Owned Home” caused in part by an online thread ... or more depending on the bank, the asset management company handling the listing (if the bank is using ... regarding timelines to close and take ownership on REO property. Let’s break the REO purchase [more...]
Date: 2008-07-09 12:52:21
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Vast Underinvestment in Due Diligence
With everyone tsk-tsking the Madoff scandal — the amount lost, the after-the-fact obviousness, ... at least, when compared with the heavy lifting of equity research. The asset management ... , there are 3 separate divisions that do so: Asset Management, Investment Banking, and Institutional [more...]
Date: 2008-12-19 12:30:18
Rates drop, Lots of news, Housing bill update, Minimum wage increase today: mortgage workers rejoice!
What time of day am I most likely to have a heart attack? ... s earnings beat analysts’ forecasts, despite falling 62% to $1.16 billion because of smaller asset write-downs than expected and as its investment bank, private bank and asset management business [more...]
Date: 2008-07-24 13:17:06
Vast Under-Investment in Due Diligence
With everyone tsk-tsking the Madoff scandal — the amount lost, the after-the-fact obviousness, ... at least, when compared with the heavy lifting of equity research. The asset management ... , there are 3 separate divisions that do so: Asset Management, Investment Banking, and Institutional [more...]
Date: 2008-12-19 12:30:18
McCain's Fak-o-nomics - Fake Solutions for Real Problems
After the startling bailout of AIG last night, and the current day market's 200-300 point drop in response, Senator McCain (finally) ... s asset management group — it includes a private banking subsidiary for the wealthy, a broker dealer ... management, and a casino culture on Wall Street that has crippled one of the most important companies [more...]
Date: 2008-09-17 18:34:55
Four at Four: All Is Forgiven
MarketBeat is more interested in the opinion of Prince Alwaleed bin Talal’s camels and horses. (Source: CNBC) ... says Mitch Stapley, chief fixed income officer at Fifth Third Asset Management. The banking stocks ... tracking 15 major financial institutions, saw its average cost for insurance against default decline [more...]
Date: 2008-11-24 12:41:00
How To Evaluate REO Bank Lists
Many real estate agents want to start listing foreclosures for banks but they are unaware of all of the steps required to begin ... . For example, unless you have a personal contact at a bank, it’s virtually impossible to just call an asset management company and start to list REOs for banks. Before you begin to ... [more...]
Date: 2009-01-14 17:45:07
Morgan Stanley Memo: ‘We Also Will Be Looking at Acquisitions’
Today, Morgan Stanley closed its investment from Mitsubishi UFJ ... Morgan Stanley’s global investment banking and asset management expertise with MUFG’s vast resources ... , and we are confident that the combination of these two world-class institutions creates a powerful global alliance [more...]
Date: 2008-10-13 13:10:49
Goldman Sachs and Morgan Stanley Are Buying. Who?s Selling?
Now that Goldman Sachs and Morgan Stanley have become bank holding companies, they are on the acquisition trail looking to boost their deposit bases ... talks with several suitors including PNC Financial. NatCity has an asset management business ... Stanley in particular, which has a sprawling asset management operation with $577 billion at Morgan [more...]
Date: 2008-10-13 09:51:00
Bangkok unrest hits UAE airlines
Bangkok unrest hits UAE airlines Transportation Emirates and Etihad cancel or divert flights to Thai capital after airport closed due to protests ... -out. Direct gov't action called for to support property market Real Estate Dubai real estate asset management firm RichVille blames banks for downturn in market. [more...]
Date: 2008-11-26 10:11:45
Fear and Loathing in Detroit
Fear and Loathing in Detroit Posted by Guest Poster Published: December 8, 2008 - 7: ... he held at the bank. My friend was the Chief Risk Management Officer for the bank, a position that also ... they all share one thing in common: they have no value); Managed Asset Specialist (also known [more...]
Date: 2008-12-09 00:27:43
Deals of the Day: Good Riddance to 2008
Today in Bailouts Everyone gets a car: General Motors sweetened customer incentives a day after the federal government committed $6 billion to ... : The bank sold a $361 million stake in its Global Investors asset-management unit to Aberdeen ... up between its management and Bespoke Hotels. Times of London Buyside Buyout firms are beginning [more...]
Date: 2008-12-31 12:01:16
Deals of the Day: Good Riddance to 2008
Today in Bailouts Everyone gets a car: General Motors sweetened customer incentives a day after the federal government committed $6 billion to ... : The bank sold a $361 million stake in its Global Investors asset-management unit to Aberdeen ... up between its management and Bespoke Hotels. Times of London Buyside Buyout firms are beginning [more...]
Date: 2008-12-31 10:43:00
Baltimore Maryland Real Estate Sub-Market
Baltimore Maryland Real Estate Sub-Market Posted by Aaron Rice under For Buyers, For Realty Professionals, For Sellers, ... Tracking* Updated 1/10/09 12:00PM Source: •Available Listings Below $100,000 Baltimore City ... As Certified Distressed Property Experts we deal with banks, loan servicer’s and asset managers who contact [more...]
Date: 2009-01-08 07:13:24
Implications of Repricing of Dollar Denominated Assets
In the wake of global financial events, a couple of articles have caught my attention in terms of implications for the dollar ... of the rich and middle class across Asia. ... The asset management operations of American banks [more...]
Date: 2008-09-18 15:28:16
Credit Problems Continue to Crop Up
While the Federal Reserve and other global central banks endeavor to use their Rube Goldbergian powers to engineer a decline in Libor and other key ... cents on the dollar Wednesday, according to Derrick Wulf, portfolio manager at Dwight Asset Management, down from about 80 cents on the dollar early in November. “The CMBX market represents, to many [more...]
Date: 2008-11-19 17:10:34
Is Citigroup A Tommy? Big Business and the Martin Lawrence Connection
Watching Citigroup (Ticker: C) unwind reminds me of a familiar Wall Street story line and a character from a hilarious TV show ... . More asset sales will certainly follow. How does management decide what to sell and what to keep ... it, bank blames small part of senior management, stock goes down the tubes, etc., etc [more...]
Date: 2009-01-14 18:12:57
TOPWRAP 1-Japan eyes bank injections to counter crisis
Japan is reportedly considering cash injections for scores of regional banks in an effort to encourage lending as the financial crisis creates havoc ... , a fund manager of Paradigm Asset Management in Taiwan. “This round of rebound is based on ample [more...]
Date: 2009-01-07 06:09:45
$75 Billion Needlessly Lost in Hasty Lehman Bankruptcy Filing?
There is a piece I regard as truly odd in the Wall Street Journal tonight ... Bank, the sale of the asset management operations) would raise $10 billion, perhaps more, and allow [more...]
Date: 2008-12-29 06:11:28
MUFG buys 9.9% stake in Aberdeen
Mitsubishi UFJ Group has bought a 9.9% stake in Aberdeen Asset Management, the Scottish fund manager, as part of a strategic alliance with Japan’s largest financial group. The purchase is being made through Mitsubishi UFJ Trust Bank, a subsidiary of MUFG that will have exclusive rights to distribute [more...]
Date: 2008-10-03 04:30:13
MUFG buys 9.9% stake in Aberdeen (pfblogs.org)
Mitsubishi UFJ Group has bought a 9.9% stake in Aberdeen Asset Management, the Scottish fund manager, as part of a strategic alliance with Japan’s largest financial group. The purchase is being made through Mitsubishi UFJ Trust Bank, a subsidiary of MUFG that will have exclusive rights to distribute [more...]
Date: 2008-10-03 00:47:04
Compute Your Net Worth Once a Year
The following is a guest post from Marotta Asset Management ... . Compute your net worth by creating four lists. Liquid assets: An asset is something you own that has significant value. A liquid asset can be sold in a matter of days. Include personal bank accounts [more...]
Date: 2009-01-13 17:34:21
Citi breakup in sight after Morgan Stanley deal (Reuters)
NEW YORK (Reuters) – Citigroup Inc agreed to merge its Smith Barney brokerage with Morgan Stanley's wealth management unit on Tuesday, and is expected to make further asset sales to raise capital and to isolate toxic assets from the rest of the bank. Citigroup, once the world's largest bank, may announce plans on January 22 [more...]
Date: 2009-01-14 01:46:29
Looking for a Run on the Bank
Sovereign The 2007-2008 credit crisis has reintroduced financial markets to the time-honored reaction to money worries: the run on the bank ... management has de-levered the balance sheet further and improved asset quality. ... failure. Among one of the more aggressively targeted is Sovereign Bancorp, which is down 58 [more...]
Date: 2008-10-02 16:47:58
Bankruptcy Rules Thwart the Recovery
As seen in the Wall Street Journal The epic financial crisis afflicting the banking industry over the past 18 months is largely the result of cratering loan and other asset values stuck on bank balance sheets. When the market for such loans ... mainly benefits equity holders and managements, not creditors. But why should the same management [more...]
Date: 2009-01-08 02:30:21
Straight-talk on FAS 157: Blackstone and their Banker Buddies Have it Wrong
There have been some rumblings over the past several months about accounting rules being a key contributor to the banking sector meltdown, ... to the concept of gap management (the difference between the duration of assets and liabilities [more...]
Date: 2008-07-03 01:39:29
DLF Assets To Raise $450M From JPMorgan, TPG?
DLF Assets (DAL), the property fund of DLF, will raise around $450 million from a cluster of private equity investors including JP Morgan Asset Management, Texas Pacific Group and others, reports CNBC-TV18, quoting investment banking sources ... has raised $450 million from Symphony Capital, a London based investment firm in May this year. [more...]
Date: 2008-11-26 08:07:01
Citi breakup in sight after Morgan Stanley deal
Citi breakup in sight after Morgan Stanley deal Posted by UK Economy News In UK financial news 14Jan 09 Citigroup Inc agreed to merge its Smith Barney brokerage with Morgan Stanley's wealth management unit on Tuesday, and is expected to make further asset sales to raise capital and to isolate toxic assets from the rest of the bank [more...]
Date: 2009-01-14 06:29:00
Madoff’s Investors Had $43 Billion
via Bloomberg: Client Total Source Access International $1 ... Company Statement Fix Asset Management $400 million Company Statement Fortis Bank Netherlands 1 bln [more...]
Date: 2009-01-08 01:36:40
Citibank to sell is brokerage business
Jump to CommentsCitigroup Inc.’s brokerage business is reportedly for sale as the giant bank tries to recover from a near-collapse that’s left it on government life support. Citi is in talks to sell its Smith Barney brokerage unit and its asset-management business, according to The Wall Street Journal. One option being seriously considered [more...]
Date: 2009-01-10 15:24:19
Gordon Brown: Step-Skipper
For some months now there’s a being a bit of amnesia about how we got to this point in the global banking crisis ... management entity and a slimmed down recapitalized system was returned to the private sector ... of the US Treasury’s Troubled Asset Relief Program. The Gordon Brown approach was praised to an extent [more...]
Date: 2009-01-09 03:11:25
Forget recession, it's a depression: Eric Sprott
Eric Sprott, founder of Sprott Asset Management, sees more than a recession. The economy is moving into a depression. Sprott is shorting Canadian bank shares because he expects loan losses to soar, he said in an interview with Bloomberg News. "There are so many job cuts and output cutbacks it’s shocking. That’ [more...]
Date: 2008-12-19 16:10:00
MOVES-JPMorgan Chase, Deutsche Bank, AIMA
MOVES-JPMorgan Chase, Deutsche Bank, AIMA September 26th, 2008 Sept 26 (Reuters) ... with Fortis ClearingJapan, will be based in Hong Kong. ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION ... and Africa; Sean Simon,of Ivy Asset Management Corp, will be responsible for theAmericas; and Peter [more...]
Date: 2008-09-26 11:31:26
Greenspan's Lament
Greenspan’s Lament Do you think Alan Greenspan ever saw “Casablanca”? ... that foolish bank lending and inflated asset values have damaged the financial system. Claude Rains said ... committee in his defense: “In recent decades, a vast risk management and pricing system has evolved [more...]
Date: 2008-10-23 19:42:33
MUFG first half profts fall 64%
Mitsubishi UFJ Financial Group (MUFG) on Tuesday reported a 64% drop in first half net profits to Y92bn ($953m) from Y256 ... of shares. Nobuo Kuroyanagi, chief executive, also said the bank had started talks with Morgan Stanley on co-operating in areas including asset management and overseas M&A.... [more...]
Date: 2008-11-19 05:47:18
Mitsubishi UFJ Loses $500 Million on Morgan Stanley Stake
Boy, there have been bigger bad investments (TPG putting $7 billion into WaMu comes to mind) ... Asset Management Co. in Tokyo. ``The U.S. bailout plan was the big change we hadn't had before ... . have tapped the region's banks and sovereign wealth funds for money in the past year as falling U.S. home [more...]
Date: 2008-09-30 04:03:53
Deals of the Day: FDIC, Which Bails Out Banks, May Need Its Own Bailout
Deals of the Day includes all the major news of the morning related to mergers and acquisitions and financing ... has told KKR, Hellman & Friedman and Bain Capital that they are the top bidders for its asset-management arm, which it has not yet decided to sell. Lehman will look for capital first, said the FT [more...]
Date: 2008-08-27 15:15:00
Citigroup, the Incredible Shrinking Bank
The Citi never sleeps. Shares never awaken ... up capital. Walter Gerasimowicz, CEO of hedge fund Meditron Asset Management, said that the deal “ ... . The institution that was too big to fail is being reduced in size, both by company management [more...]
Date: 2009-01-14 16:54:54
US stocks rise on banks and lower oil
Stocks rose in another turbulent session on Tuesday as a pullback in oil prices eased worries about consumer and business spending, ... , chief investment officer for fixed-income at Allegiant Asset Management in Cleveland. The Dow Jones [more...]
Date: 2008-07-09 04:05:51
US not certain of avoiding Japan-style 'lost decade'
By Stephen RoachPublished: January 14 2009 02:00 Last updated: January 14 2009 02: ... systems stemming from egregious risk management blunders. Both were victimised by a reckless lack of oversight - regulatory failures, misdirected rating agencies, and central banks that ignored asset [more...]
Date: 2009-01-14 13:58:00
Gold Backwardation: Antal Fekete
Gold Backwardation: Antal Fekete Alex Stanczyk Writes: Red Alert: Gold Backwardation!!! – Posted Friday, 5 December 2008 Antal E ... , Canberra, cancer, central bank, contract law;, Depression, Eric Sprott, federal reserve board, Gold Markets, Humpty Dumpty;, monetary metal;, New York, news media, Sprott Asset Management, Twin Towers [more...]
Date: 2008-12-06 13:13:00
SEC's Report On Mark-To-Market Under EESA Says FAS 157 Not A Major Factor In Financial Crisis Or Bank Failures
Section 133 of the EESA required the SEC to study mark-to-market accounting under FAS 157, and, in particular, ... financial institutions, including specifically Bear Stearns, Lehman and AIG. The Staff concluded that liquidity pressures brought on by poor risk management and "concerns about asset quality" were [more...]
Date: 2009-01-13 05:54:01
What Are Bill Gross and Pimco Buying?
Forbes Magazine did a recent interview with Pimco Total Return Bond Fund manager, Bill Gross ... to be the one asset that people want to own during a deleveraging cycle. They weren’t leveraged ... buying bank preferred stocks — JP Morgan Chase, Bank [more...]
Date: 2009-01-07 09:15:39
Satyam: The End Game
Satyam's case: Now that we know Raju has defrauded the shareholders, on his own admission, it's time to face facts ... were a bank, they would call it an "asset-liability mismatch". Most likely the US government would ... ; everyone will be suspicious. With Raju behind bars soon, and no trust in the top management [more...]
Date: 2009-01-07 08:06:01
Rubin Resigns from Citi; Bank to Sell Smith Barney
Rubin's departure from Citigroup would seem to imply that his continued service there, ... (brokers have increasingly migrated towards asset under management pricing structures) would presumably [more...]
Date: 2009-01-08 07:05:35
Global Investing Roundups Friday, November 21st, 2008
GMAC Files to Become a Bank; Unemployment Nears 26-Year High; Mogul Signals Interest in Circuit City; Banco do Brasil Buying Out Rival; ... company GMAC has filed to become a bank, a shot at getting a slice of the $700 billion Troubled Asset Relief Program bailout. Private equity firm Cerberus Capital Management LP owns 51% of GMAC. General [more...]
Date: 2008-11-21 11:43:06
UPDATE 1-HK fund won’t invest entirely in US assets-Yam
UPDATE 1-HK fund won’t invest entirely in US assets-Yam December 9th, 2008 (Adds more quotes, details) By Natsuko Waki LONDON, Dec 8 (Reuters) ... its distance from the sovereign wealth fund label, thehead of Hong Kong’s central bank said ... to become moreproactive in the management of the fund, but they should notonly focus on the return [more...]
Date: 2008-12-08 16:50:04
Caprock Analytics Stock Ratings
Stock-Net presents custom stock ratings, powered by Caprock Analytics ... , Asset Management and Investment Services Group. During the year ended December 31, 2007, the UMB Bank [more...]
Date: 2008-11-05 18:04:01
Revisiting regional banks
As you know from reading my blog, I am expecting a lot of writedowns from regional banks as real estate loans sour ... from: NewsInc Living with SFAS 121: how to avoid (or record) an asset writedown. (Statement of Financial ... Accountant Commercial Property Insurance and Risk Management Managing and Leasing Commercial Properties [more...]
Date: 2009-01-14 20:33:32
Will investors support Pandit's new plan for Citi?
Citigroup Inc.'s board is supposedly standing behind CEO Vikram Pandit as he pulls apart Sanford Weill's trumpeted financial ... that the banks reached a definitive agreement to combine Morgan Stanley's Global Wealth Management Group ... ? This restructuring is sounding similar to American International Group Inc.'s asset sell-off, and [more...]
Date: 2009-01-14 21:22:38
