April 7, 2008 | Leave a Comment
Attached/linked please find And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended April 4, 2008. So the books on the dismal 1st quarter 2008 are officially closed (and not soon enough) and investors seem intent on moving past the recent negativity. Though financial (more write-downs) and economic (weak housing, manufacturing, services, labor) news highlighted the week, the markets moved higher as investors looked at the carnage of the past three months and found some value in equities. Bernanke stood up nicely to the heat as he was grilled by a finger-pointing Congress over his role in the JP Morgan/Bear Stearns transaction. Paulson set out to reform the entire financial regulatory system, though he knows he will be long since retired (or back on Wall Street) before any of his proposals are approved/rejected. The new quarter is off to the races and many investors believe the worst of the news is behind us. Let’s hope the newfound optimism lasts (despite the continued talks of recession. Sorry, just a friendly reminder).
Coming up in the week ahead: Construction Spending (Tuesday), ISM - Manufacturing (Tuesday), ISM - Services (Thursday), Unemployment Rate (Friday), Nonfarm Payroll Additions (Friday)bear stearns, bernanke, congress, JP Morgan, paulson, wall street
September 8, 2007 | Leave a Comment
Attached/linked please find And That’s The Week That Was…the Brounes & Associates market/economic commentary for the week ended September 7, 2007. So, did everyone return from the Labor day holiday only to find that their jobs had been eliminated? A surprising decline in payroll last month prompted a major late week sell-off in equities and caused investors to scramble (again) back to the safe-haven of treasuries. Alan Greenspan didn’t help the market mindset when he compared the current turmoil to the Black Monday crash of 1987 AND the Long-Term Capital Management debacle. The Fed’s policy meeting on September 18 can’t get here soon enough as all eyes remain on Bernanke and friends with most analysts now calling for at least a 25 bps funds rate cut. Small-caps have suffered more than most as the Russell 2000 Index is now down 1.50% for the year. It could be worse…At least you have a job.
Coming up in the week ahead: Trade Balance (Tuesday), Retail Sales (Friday), Industrial Production (Friday)
August 31, 2007 | Leave a Comment
There is a lot going on today with the subprime situation, etc. So, for the sake of brevity, here are some of the more compelling headlines today …
And for a bit of fun, our friends at Fintag have some scoop on the Wall Street sequel, Money Never Sleeps
Gekko is back – as a hedge fund manager.
August 30, 2007 | Leave a Comment
Well, times are definitely a changin’. The SEC continues to monitor the hedge fund industry for fraud and they now have a new rule meant to deal with it. As the FT reports …
HFL says: The SEC needs to find Jimmy Hoffa and bring him back from the dead. Instead of trickling out little rules here and there over time, Jimmy would simply impose the regulations all at once (we all know its coming anyway).
Another hedge fund bites the dust: Basis Capital is now dead and ready for burial. Another victim of the subprime situation.
HFL says: Check out hf-implode.com. They have a nice run through of the Basis situation.blow up, crash, fed, hedge fund blow ups, hedge funds, implosion, SEC, subprime, wall street
August 29, 2007 | 1 Comment
Truly, as Percy Walker points out, it is open season on Wall Street types. It seems that they might not be safe to walk the streets - no less attend spin classes. Now granted, the victimized investment banker, Stu Sugarman …
You go, girl? [Originally, it was reported that he was a hedge fund manager — THANK THE GODS he is not. It might also explain the weird grunting and shouting] This is how it all went down according to the Post:
You can’t make this stuff up! A bitch slap would probably have been sufficient.
July 27, 2007 | Leave a Comment
And That’s The Week That Was…the Brounes & Associates market/economic commentary for the week ended July 27, 2007. How can investor sentiment change so much so quickly? Just a week ago, the Dow and S&P 500 stood around all-time highs, and double-digits annual gains for the major indexes seemed like a foregone conclusion. Enter…a couple of surprising earnings announcements (thanks Countrywide), and now a new dark cloud suddenly hovers over Wall Street. (That’s what the worst week in five years will do for you.) For a change, investors are suddenly noticing the never-ending housing woes and contemplating the impact that the subprime (and even prime) mortgage fiasco can have on the overall economy and markets. Just don’t throw in the towel so quickly. Go home; rest up; read about the GDP in the 2nd quarter; and remember the bright spots investors were touting just last week. Things couldn’t have possibly changed that much that quickly? Or could they?
Coming up in the week ahead: ISM Manufacturing (Wed), Unemployment Rate (Friday), ISM Services (Friday)countrywide, Dow, mortgage, S&P 500, subprime, wall street
July 18, 2007 | Leave a Comment
Most folks following the financial news are already aware of this …
Wow.bear stearns, hedge fund blow ups, hedge funds, investors, securities, stock market, subprime, wall street