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

Blog posts (46) | Videos (53)
 

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

yacht trader

Salvagers recover yacht Goldcrest from Derwentwater - News and Star THE wreck of a yacht missing on Derwentwater since the storms of January ... - Wall Street Journal Please register to gain free access to WSJ tools. An account already exists for the email address entered. William Hutchings, asset management editor for Financial News [more...]

Date: 2009-01-14 09:16:17

Financial Forum

This Sunday (November 2nd) our church is hosting a Financia forum: Understanding the Economic Crisis ... of Genworth Financial, where he will be responsible for $75 billion of assets under management ... . Prior to joining JP Morgan in 2007, Ron was head of asset liability and risk management at Prudential [more...]

Date: 2008-10-30 01:28:25

US Lawmakers Probe Alleged Multi-Billion Dollar Ponzi Scheme

A U.S. congressional committee on Monday held the first of what is expected to be numerous hearings on an alleged massive financial fraud by New ... who invested with his Wall Street asset management firm since the 1990s. According to the Securities ... York asset manager Bernard Madoff. bernard-madoff-265x300 US Lawmakers Probe Alleged Multi [more...]

Date: 2009-01-06 02:27:09

The Truth About Living Trusts

There are several ways to handle your estate. Intestacy — dying without a will — is an option for some people with relatively simple finances ... of a will and a financial power of attorney — can offer additional asset-management muscle both while you’re ... . For others, a will can be a useful tool to take care of giving away your goodies — [more...]

Date: 2009-01-10 02:57:18

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

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

More Lessons From The 2008 Financial Markets

Larry Swedroe, principal of an asset management company and investment book author, ... that covered a variety of topics from active management to Madoff to your “Plan B”. Here ... . ... If their money managers could protect you, why did firms like Lehman Brothers and Bear Stearns go belly [more...]

Date: 2009-01-06 07:46:53

UTI woos overseas Indians with new gold, equity-based fund

Even as the world grapples with a financial crisis, ... asset classes that they can add to their portfolios," Harsha Upadhyay, fund manager and vice-president of UTI Asset Management Co, said in the statement. "If one of your primary objectives is to earn [more...]

Date: 2008-10-27 11:38:09

Macquarie Group (ASX:MQG) Profits Fall By 43%

Selling stuff you bought with borrowed money is a process that’s mostly been confined to the financial markets in 2008 ... one was the 43% decline in income from asset and equity investments. There were some strange assets ... mortgages and fund management assets. It did not, however, take any write downs on Macquarie Airports [more...]

Date: 2008-11-19 17:05:14

AIG: Now that you own it, learn about it!

First of all—what is AIG? AIG is American International Group, the largest insurance company in the world ... insurance, life insurance and retirement services, financial services, and asset management ... into a bond for General Motors, but I’m now afraid [more...]

Date: 2008-09-19 17:01:54

Preservation Companies, Contact Companies & REO Companies

This list may contain defunct companies or those that have changed their coverage area or services ... US-wide - asset management and disposition firm offering specialized services to financial institutions ... . AppIntell Inc. - http://www.appintell.com US-wide - providing risk management information and data [more...]

Date: 2008-09-27 03:47:16

Financial Goals for 2008: Reviewing Our Progress

A year ago I wrote up a list of financial goals for 2008. Today, I thought I’d take a look back at them and see how we did ... describing the changes that we made: Reconsidering Our Asset Allocation How to Manage Your Asset Allocation With Multiple Accounts Our Investment Portfolio: Asset Allocation and Location Market Turmoil [more...]

Date: 2009-01-02 22:28:10

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

Nice Work If You Can Get It: Estranged Wife Says She Needs $53,000 A Week To Survive

Let’s get this out of the way right off. Yeah, I’m jealous. I want $53,000 a week, too. There. Now, moving right along.... Holy matrimony, Batman! ... does Douglas-David, a former investment banker for Lazard Asset Management, manage to spend $53,000 ... and properties in Sweden account for $27,300 a week, according to a financial affidavit she filed [more...]

Date: 2008-12-19 21:25:18

Lehman gets $2.15 billion for Neuberger Berman

The price tag was less than one would have liked, but these are desperate times for sellers of financial assets ... still a solvent company, the price tag was estimated at $4 billion. In August, those same assets would ... about the fate of all the operations that were part of Lehman’s asset management division [more...]

Date: 2008-09-29 19:30:05

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

GMAC and Chrysler Financial: The Center of Hope

Speaking of an apocalyptic scenario, the poet William Butler Yeats wrote the line, “Things fall apart; the center cannot hold ... be their respective finance arms, GMAC and Chrysler Financial. Cerberus Capital Management is majority owner of both ... to get money through the Troubled Asset Relief Program, or TARP, which has distributed nearly $350 billion [more...]

Date: 2008-12-18 09:13:00

Eric Sprott: Cash or gold?

November 7, 2008 Eric Sprott, financial crisis, gold   In his latest essay Eric Sprott, chairman of Sprott Asset Management in Toronto, ... in places like Iceland, Brazil, and Mexico and that, Sprott believes, soon will not require a lot of argument in the United States either. Sprott’s essay is headlined “Cash or Gold?” and you can find [more...]

Date: 2008-11-07 07:04:21

Why Did TARP Change Course?

The twists and turns of TARP have confused and dismayed ... about the need for transparency, published prices and dynamic collateral management, how we get from here ... financial crisis, and explored the structure of securitized mortgage asset pools as a reason for why Mr [more...]

Date: 2008-11-29 14:24:45

The golden mystery

These must be frustrating times for gold bugs. For years they’ve been waiting for financial armageddon and now that it appears finally to have ... strange is happening. All of which doesn’t stop John Embry, chief investment strategist at Sprott Asset Management from declaring in the Oct. 17th issue of Investors Digest that the U.S. government’s “ [more...]

Date: 2008-10-23 18:01:00

The mob is my broker: Cake launching crowdsourced stock fund

The stock tracking and community site Cake Financial is getting some interesting new features, including its first branded financial instrument, ... management services, "a lot is wasted." He's built a service that identifies the stock picks ... stocks that are performing better than yours, in users' accounts with similar asset allocation [more...]

Date: 2008-08-28 22:19:00

GoodGuide Takes Top Prize At Web 2.0 Summit Launchpad

One of the featured events at this week’s Web 2.0 Summit was the Launchpad, ... is an emissions management software platform that allows companies to effectively keep track ... if their carbon credits will be financial asset or liabilities, and helps them deal with them accordingly [more...]

Date: 2008-11-07 01:59:44

Why the US Bail-out Plan Will Hardly Solve the Financial Crisis

The Mark-to-market rule (Wikipedia): “Mark-to-market" ... Jane Caron, chief economic strategist at Dwight Asset Management. Wall Street Journal Oct. 1, 2008 ... decline in asset values. For example, the prices [more...]

Date: 2008-10-02 22:18:59

Gold: the glitter vs. the tarnish

I don’t know whether Wistar Holt and Larry Swedroe have ever met, but the two financial advisers are conducting a vigorous debate in my inbox ... gold prices. In the opposite corner is Swedroe, research director at Buckingham Asset Management ... . First comes a letter that Holt, a partner at Holt & Shapard Capital Management in St. Louis [more...]

Date: 2008-12-23 17:29:48

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

Outspoken Fed Critic Taylor Coins ‘Mondustrial Policy’

Stanford Professor John Taylor has coined a new, unflattering term to describe the Federal Reserve’s approach to managing the financial crisis: ... . Its strategy is to target specific markets in distress — from commercial paper to asset backed securities [more...]

Date: 2009-01-05 11:32:00

Tax Management, One Dollar Home, DIY Haircut @ The Carnivals

The last couple of days have been nuts for us harried investors ... , maybe doing some portfolio adjustments like adding some new asset classes to our portfolio, and even ... A Company Can Make More Money Through Tax Management @ The Financial Blogger Credit Cards Are Excellent [more...]

Date: 2008-09-17 16:48:22

PE Fund-Raising Declines for First Time Since 2003

Sabrina Willmer, of Private Equity Analyst, files this dispatch on one body blow private-equity firms have taken from the financial crisis ... their private-equity percentage allocation targets because of the marked decline in the stock markets. “ ... over-weighted in the asset class,” said Donn Cox, managing director at LP Capital Advisors. “ [more...]

Date: 2009-01-09 18:27:00

Will Merrill's "Kitchen Sink" Writedown (MER) Set Bottom For Financials?

After Merrill Lynch (MER) announced it would sell its ABS CDO portfolio for a $4.4 billion loss at $0 ... before it can begin to recover from record low valuations? Atlantis Asset Management analyst Michael Cohn ... be the "watershed" writedown that could set the bottom for financials. At the very least, it gives the market [more...]

Date: 2008-07-29 18:13:00

Obama Administration: Senate Charges of "Mumbo Jumbo"

Senator Bill Nelson (D-FL) is quoted in The Hill as saying Obama's incoming OMB (Office of Management and Budget) ... spend the second half of the $700 billion financial rescue package, known as the Troubled Asset ... of the charge. I'm thinking that Bush will continue to bear the brunt of our country's abuse [more...]

Date: 2009-01-13 19:01:00

Fifteen Notes on the Current Market Stress

1) Going back to one of my themes, be wary of companies that sell their best assets to bail out their worst assets.  Tonight’s poster child is GM ... a contract to borrow shares in order to short for a bunch of financial companies, then require ... to the new management of AIG: please do the following: a) locate lines of business with low ROAs [more...]

Date: 2008-07-16 05:51:08

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

Wall Street, Circa 2010: Disaggregation and Specialization

The Wall Street of today is almost unrecognizable from that at which I worked for almost two decades ... word. Securitization? Don't want to hear about it. Asset-backed what? Sell - sell now! What started ... complexity and distance from its intended goal, risk management, was a key contributor to the financial [more...]

Date: 2009-01-08 16:07:45

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

Financial Resolutions for the New Year

The following is a guest post from Marotta Asset Management. Every year many of us make New Year's resolutions and then can't follow through because we claim we're too busy. The most common [more...]

Date: 2009-01-11 03:56:57

“Swap” Inventor Blames Regulators for Financial Crisis

David Swensen, of Yale University Endowment investment management fame discusses the current state of the market and derivatives trading ... to the financial system should be regulated. “I don’t think it is the tool that is the problem,” he says ... value is derived from an underlying asset or income stream. As a part of this trend, musician David [more...]

Date: 2009-01-05 22:12:51

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

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

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

Stop Calling It An "Industry" Too By: Mark W Adams

You can stop calling banks or investment firms a financial services "industry" while you're at it ... debt into a valuable asset by slicing and repackaging questionable mortgages into default-swap bond ... , the heirs to the gentrified aristocracy who now inhabit upper management high rise offices across [more...]

Date: 2008-12-19 20:14:00

Financial Services Hearing on Assisting the American Automobile Industry

Today, the House Financial Services Committee is holding a legislative hearing on extending the Department of Treasury’s Troubled Asset Relief ... , Jr., Chairman and Chief Executive Officer, General Motors Corporation Mr. Robert Nardelli, Chief ... ; Quetelet Professor of Sustainable Development and Professor of Health Policy and Management, Columbia [more...]

Date: 2008-11-19 17:14:09

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

Should You Invest During a Financial Crisis?

Written on 10/13/2008 by Michael Miles. Michael writes about personal growth, communication, and increasing personal wealth at Effortless Abundance ... and outperform every other asset class over time. Despite enormous social, political and economic ... with excellent track records of profitability and growth, strong management teams, excellent product [more...]

Date: 2008-10-13 17:58:05

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