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
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Videos
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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
Commodity Rebalancing Rally Tails Off
The recent rally in commodities, particularly the metals and grains, ... ) have moved with a greater degree of correlation with equities of late, as asset managers take positive ... , J.P. Morgan Chase analysts estimate that losses in oil during the year have dropped its weighting [more...]
Date: 2009-01-07 16:53:44
Commodity Rebalancing Rally Tails Off
The recent rally in commodities, particularly the metals and grains, ... ) have moved with a greater degree of correlation with equities of late, as asset managers take positive ... , J.P. Morgan Chase analysts estimate that losses in oil during the year have dropped its weighting [more...]
Date: 2009-01-07 18:50:57
Dow Plunges Below 9,000 Points
The Dow plunged below 9,000 points today as the credit crisis continued to cause devastation in the markets ... lost over a third of its value since then. The index was dragged down by General Motors (NYSE:GM ... Hellwig, senior vice president at Morgan Asset Management, in Birmingham, Alabama. "You've got investors [more...]
Date: 2008-10-09 19:39:42
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
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
NSE Bulk Deals to Watch - Jan 9 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg ... ,SELL,4199565,21.34,-09-JAN-2009,SATYAMCOMP,Satyam Computers Ltd,JP MORGAN FLEMING ASSET MGMT (EUROPRE ... COMPANY ASSET MANAGEMENT LLC,SELL,6042202,18.50,- [more...]
Date: 2009-01-09 13:46:00
General Motors (GM): Still A High-Risk Profit Play
GM is essentially already bankrupt, says Horacio Marquez. And it has been for years. This clearly makes the company one to avoid for investors ... . It was October 2000, and I’d just joined a multi-billion-dollar asset management organization as its head ... , particularly after recently reading that JP Morgan Chase & Co. (NYSE:JPM) credit analysts [more...]
Date: 2008-12-02 14:35:29
Thinking About Ollie, Wolf, Roger, Empty Seats In The Bronx and the New Name For Mets Stadium
Derek Lowe got his money and his fourth year. I guess it's hard to give a 35 year old a fourth year, thing stend not to work out (cough, Pedro) ... ," said William Smith at Smith Asset Management, who owns Citigroup shares. He has been calling ... . .. Morgan Stanley Stadium in 2010? Is there a single person out there who thinks the present Name [more...]
Date: 2009-01-14 02:59:44
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
Citi Breakup in Sight (Reuters)
This just in from Reuters; Robert Rubin's departure from Citigroup appears to have been a prelude to this ... (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 [more...]
Date: 2009-01-14 08:05:44
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
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
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
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
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
THE WEEKEND
Not a lot of exciting stuff in Barron's but a nice interview with Birinyi- whose market expectations are about in line with my own(Lots of volatility but not much headway in either direction). Also, an interesting article on bonds (get out now!) by Andrew Barry.What does Laszlo say:You spend a lot of time looking at various market indicators [more...]
Date: 2009-01-04 12:45:00
Four at Four: Washington Gridlock
What happened Thursday in Washington was not an exact repeat of the breakdown in negotiations over the funding of the TARP plan, ... Arnold, investment advisor at Dawson Wealth Management in Cleveland. The unsteady procession toward ... , the extreme spreads evident in credit markets, where the loan markets, asset-backed, and high-yield [more...]
Date: 2008-12-10 12:45:00
Notes from Today’s Economic Recovery Conference
Image via Wikipedia I spent today in Dublin at a conference organised by the UCD economics department and the ... Honohan and Brendan Walsh, and Morgan Kelly, who delivered the best rant of all time, ever. Kelly’ ... Morgan in private, for fear of divorce. But everyone else, look out. Below you’ll find my notes [more...]
Date: 2009-01-12 20:38:41
New Year Scams 3
My Greeting To Me, I am Mr. Peter Phillip a Bank Manager here in Uk. I write you this proposal in good faith, believing that you will not betray me. I believe it is the will of God for us to meet through this means. One Mr. Pedro Brito Rodriguez a US citizen and businessman made a (Fixed deposit) [more...]
Date: 2009-01-12 08:13:15
The Citigroup Empire Dismantles
One year ago, I wrote: "In the end, I expect Citigroup will be broken into pieces and eventually be a shell of its former self ... may also dump the CitiFinancial consumer-lending unit, tag Tokyo-based Nikko Asset Management Co ... of Citigroup shareholder Smith Asset Management Inc. in New York, who has repeatedly called [more...]
Date: 2009-01-14 15:23:32
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
Four at Four: Six Degrees of Steve Jobs and Kevin Bacon
One of the more annoying recurring stories that drives trading in a particular stock pertains to the health of Steve Jobs, chief executive of Apple Inc. With just a couple of hours left in the penultimate session of the year, the company’s options started bouncing around on resurgent rumors that Mr. Jobs was in ill health [more...]
Date: 2008-12-30 12:14:00
If Holiday Retail Stats Don’t Have Economists Saying “Humbug,” Tuesday’s GDP Report Certainly Will
If it’s good enough for Wal-Mart… Looks like the discounting model pioneered by Wal-Mart Stores Inc. (WMT), the Bentonville, Ark.-based retailing giant, will make its way to some rather unlikely high-end retailers: Barney’s New York Inc. and Neiman Marcus Inc. have announced significant price reductions (up to 75%) [more...]
Date: 2008-12-22 13:35:50
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
The Death of Trust
I do not believe I have previously The Richter Report, or at least I do not recall doing so. That said, their post entitled “The Death of Trust”, though a bit wordy, is certainly food for thought and a clarion call for the gold standard which Ron Paul and many others have been calling championing [more...]
Date: 2009-01-05 18:49:54
How This Crisis Could Make You A Fortune
By all reasonable measures, we are already in a recession, says Shah Gilani. Deflation has become today’s number one threat. But massive government rescues mean another bout of inflation looms on the horizon. Shah says investors should look to short vulnerable stocks in 2009 [more...]
Date: 2008-11-10 15:19:21
It’s Schadenfreude Saturday!
Capping the payoffHaving earned been paid $115 million since 1999 for taking lunch and, on a busy day, pontificating, ... the board of JP Morgan Chase (or similar) at Sep. 2009. And is taking the under. (Related links after ... . Mr Merkin collected millions of dollars in management fees annually for his work.Among [more...]
Date: 2009-01-10 23:29:37
ICR Xchange Summary: PacSun
Today, the annual ICR Xchange conference was held in Dana Point, California, at the luxurious St. Regis Monarch Beach Resort. Transworld Business was on-site and sat in to a few of the summaries that were pertinent to our industry. Companies provided some information on how 2008 went, and their focuses and predictions for 2009 [more...]
Date: 2009-01-15 01:47:15
The SEC And Ratings Agencies: Enabling The Market Meltdown
Michael Lewis and David Einhorn had an op-ed in the NYT on Sunday that is worth reading ... and management malfeasance — out of some misguided notion that to do so would cause stock prices ... Suisse before moving on to Morgan Stanley. A casual observer could be forgiven for thinking [more...]
Date: 2009-01-06 14:01:18
Paul Williams, Investigator and writer into all things islam! ... its stake in Smith-Barney retail brokerage to Morgan Stanley.To most readers, such news is economic ... which presents itself - - along with Well Fargo, J.P. Morgan Chase, and the Bank of America [more...]
Date: 2009-01-14 02:19:39
GM and Ford Burning Cash, Seek Emergency Government Loans
America’s two leading auto manufacturers, Ford Motor Co. (F) and General Motors Corp. (GM), reported heavy third-quarter losses Friday and are under a severe liquidity strain. Both are seeking emergency loans from governments in the United States and Europe. Ford posted a $2.98 billion operating loss for the quarter ended Sept. 30 [more...]
Date: 2008-11-10 12:53:34
News Roundup: Nilgiris to Unlock Real Estate Holdings for Rs 100 Cr
KPCL and BHEL to Form JV to Operate Thermal Power Plants - Karnataka Power Corporation Limited (KPCL) and Bharat Heavy Electricals Limited (BHEL) ... is one of the highest oil-producing regions in the world. ONGC is looking at making Imperial's asset a platform ... of the Emergency Management and Research Institute (EMRI), a non-profit organisation [more...]
Date: 2009-01-13 04:09:47
Fed Intervention: Managing Moral Hazard in Financial Crises
"Moral hazard has its costs, but it also has its benefits": Fed Intervention: Managing Moral Hazard in Financial Crises, by Harvey Rosenblum, ... its lending beyond the commercial banking sector. In March, it assisted with J.P. Morgan Chase’s buyout ... two earlier financial interventions: in the case of Long-Term Capital Management (LTCM) in 1998 [more...]
Date: 2008-11-26 20:51:00
Market flat
Jump to CommentsMarket song o’ day: Where There’s Smoke There’s Fire ... Wealth Management? is running because he Madoff’d some dough? Related parachutes: Cessna to lay off 2,000 ... quarterly multibillion loss next week.Why not: Morgan Stanley and G.E. Seek Tax Waiver on Loans. Soon [more...]
Date: 2009-01-13 21:02:57
New York Times on Risk Mismanagement
Those:Interested in the financial meltdown,Who are fans of Nassim Nicolas Taleb (Fooled by Randomness, The Black Swan),Who enjoyed When Genius Failed, the story of the ironically named Long Term Capital Management ... Nocera.The story discusses risk management and introduces the concept of value at risk (VaR), an easy [more...]
Date: 2009-01-04 18:01:00
Bank of America (BAC) Seeks to Boost Stake in China Construction Bank (CCB)
Bank of America Corp. (BAC) will likely boost its stake in state-owned banking giant China Construction Bank Corp., paying about 36 cents a share (2 ... , Caijing reported. Construction Bank’s net asset per share jumped 13.26% from a year earlier to 30 ... provides corporate and personal banking services. Additionally, the group offers wealth-management [more...]
Date: 2008-11-17 14:20:41
U.S. Automakers, Freddie Mac (FRE) and Foreign Exporters Next in Line for Bailout Handouts
This week is shaping up to be another active one on the bailout-and-financing front. First and foremost, Congress returns to work this week to consider a once-unthinkable proposal: Put up billions in taxpayer-backed loans so that Detroit’s “Big Three” can be saved [more...]
Date: 2008-11-17 13:02:19
Citicorp:Bischoff under fire - Pandit questionable - Rubin says bye,bye
nytimesFederal banking regulators are pressing Citigroup to shake up its board and replace its chairman, Winfried F. W ... apart with a plan to spin off Smith Barney into a joint venture with Morgan Stanley. That news ... these changes."Separately, Citigroup (C, Fortune 500) is in talks with Morgan Stanley (MS, Fortune 500 [more...]
Date: 2009-01-12 14:48:00
Goldman Can’t Outsmart the Markets Anymore
About two months ago, Deal Journal live-scribbled a panel discussion that included a supercollider of the most powerful men in finance. Afterward, I ran into one of the panelists and asked him if the views provided by his compatriots had been helpful [more...]
Date: 2008-12-02 17:30:38
in Investing 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 ... assets group, private wealth management, (even retail brokerage) have access to these funds [more...]
Date: 2009-01-10 18:32:35
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
Citi breakup in sight after Morgan Stanley deal (Reuters)
Citi breakup in sight after Morgan Stanley deal (Reuters) at 11:08 am People walk past the Citigroup headquarters in New York, November 24, 2008 ... . (Brendan McDermid/Reuters) 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 [more...]
Date: 2009-01-14 12:32:02
The Barron’s Interview: A Leading Bear Turns Bullish, Sort of
As per your requests, here is the Barron’s Interview from this week. Note I sat with them for this in early November: > INTERVIEW: A Leading Bear Turns Bullish, Sort of Barry Ritholtz, CEO and Director of Equity Research, FusionIQ By ROBIN GOLDWYN BLUMENTHAL AN INTERVIEW WITH BARRY RITHOLTZ: Getting ready for a “significant” rally [more...]
Date: 2008-12-07 19:30:32
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
Words from the (investment) wise 12.28.08
Investors spent the holiday-shortened Christmas week in an un-merry mood, digesting more gloomy economic data and taking stock of a tumultuous 2008. With the S&P 500 Index and the Dow Jones Industrial Index down by 35.8% and 40.6% respectively for the year to date, many investors would be anxious to wave the old year goodbye [more...]
Date: 2008-12-28 12:31:33
CFA Designation: 1 Page Guide
CFA Designation 1 Page Guide to the CFA Designation Quick Links: Chartered Hedge Fund Associate (CHA) Chartered Alternative Investment Analyst (CAIA) ... , derivatives, venture capital, real estate, etc.), and Portfolio Management and Analysis (asset ... with the areas of investment banking, portfolio/investment management, and financial analysis of [more...]
Date: 2009-01-14 12:30:24
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
THE WORLD today!
———————————————————————————1. Barack Obama wins Presidential Election and becomes the 44th President of the United States starting January 20 - Hope for a Change - Yes we can -130 Million Americans, more than in any other election since 1960, voted for a change and choose Obama, [more...]
Date: 2009-01-13 00:09:08
