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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

still at 21
PostPosted: Wed Oct 24, 2007 7:56 pm Reply with quoteBack to top

Its been all quiet on the hedge fund front for a while now.

Anybody hearing about anything brewing?

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"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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Aaron
A-Bomb


Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA

Re: still at 21
PostPosted: Thu Nov 29, 2007 5:50 pm Reply with quoteBack to top

We've got a number of SIVs on the queue and need to follow up and figure out if they really are suitable for posting:

- HSBC's two bailed out funds: http://biz.yahoo.com/ap/071126/britain_hsbc.html

- MBIA's Thames: http://www.bloomberg.com/apps/.....Ppr3sdp2KA

- Adams Square funding

- Lancer Funding II (CDO squared)
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leraconteur2002
Flash in the pan


Joined: 09 Nov 2007
Posts: 72

Re: still at 21
PostPosted: Mon Dec 03, 2007 5:53 am Reply with quoteBack to top

I dunno. Some recent moves look like last minute deck chair re-arranging.

BOA bought a stake in CFC. That looks like a bailout and vote of confidence, because BOA stands to lose much more if a crisis in the CDO market continues or deepens.

Then there is Citadel buying eTrade's toxic sludge at 11cents on the dollar. That has got to scare some on the Street.

Then there is GS declaring an additional $2B in w/d's on top of the $3.7B in Q4 that was guided.

The PPT and the GWB administration are trying to forestall Judgment Day for another 49 weeks, but I don't think the markets will be controllable. Some Black Swan event will occur at the worst time, someone will liquidate, and the M-LEC will go tips up. Then all bets are off as everyone unloads at 20cents on the dollar.

When I can spare a minute and watch CNBC, the guests who aren't short looked like they all just crapped their pants. When one fund manager after another goes on and looks scared witless, that gets my attention.

The Market is playing all Happy Happy Joy Joy with BB upcoming rate drop, but that doesn't alter the basic fundamentals that no one - Still! - nows how much of this sludge is out there and what value it has, or not.

Am I missing something here? Did WS just find out how much of this is out there and now everyone is all cool with it? Or are they just smoothing over Dec so they get their bonus for '07?

No one wants to look into the abyss for fear of losing themselves and falling in.

This is Poker and no one wants to make the first move.

Don't Go To The Light...
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RichardCWilson
Dud?


Joined: 08 Feb 2008
Posts: 20
Location: Cambridge, MA

Blackrock
PostPosted: Fri Feb 08, 2008 4:28 pm Reply with quoteBack to top

Blackrock just bought a $10B hedge fund as well...

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Richard C. Wilson
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