Reactions to story from http://online.wsj.com

• 

  Tuesday links: everyone gets a trophy

  http://abnormalreturns.com/2008/10/14/tuesday-links-everyone...
  49 days ago in Abnormal Returns · Authority: 156

  The U.S. Treasury becomes the world’s largest financial services fund.  (DealBook, NYTimes.com, WSJ.com) Is a ‘one-size fits all’ approach to bank recapitalization a prudent approach?  (Market Movers, ibid) Don’t forget about the FDIC’s TLGC program.  (Real Time Economics, Curious Capitalist) With the bailout plans in place, all eyes turn to the credit markets.  (MarketBeat) High yield spreads remain at record highs.  (Bespoke) “(T)he Japanese clearly think there might be some more nasty surprises in store.”  (FT Alphaville) What if there are future writedowns?  (Clusterstock) Is it time to worry about munis?  (TheStreet.com) Citigroup (C) is still looking for a ‘dance partner.’  (NYTimes.com) “The economics of the hedge fund industry, so lucrative on the way up, are trying even the most seasoned managers on the way down.”  (NYTimes.com) Some ’smart’ hedge funds have moved largely to cash and on the sidelines.  (WSJ.com) Buying equities ’slowly and carefully.’  (Morningstar.com) Catastrophe bond performance, and no we don’t mean mortgage-backed securities.  (WSJ.com) Charlie Munger wants to gut Wall Street.  (naked capitalism) Are we ultimately looking at a ‘dumber’ banking system?  (Clusterstock) The long-term consequences of the ‘Everyone Gets a Trophy Economy.’  (Real Clear Markets via 24/7 Wall St.) A couple of observations on yesterday’s historic market bounce.  (MarketSci Blog) Options expiration is likely driving some of the volatility this week.  (Daily Options Report) Iceland, “a hedge fund with a seat in the UN” takes it on the chin today.  (Crossing Wall Street) “It looks like Cramer is just throwing everything at the wall and hoping something will stick.”  (Trader’s Narrative) “Trading is a FULL-time job. It is a profession.”  (Howard Lindzon) “In short, you should be totally focused on markets when you’re trading, except at those times when you find yourself focused on money.”  (TraderFeed) How have ‘lazy portfolios‘ performed during the downturn?  (Kirk Report) Will active
• 

  Links 10/14/08

  http://www.nakedcapitalism.com/2008/10/links-101408.html
  49 days ago in naked capitalism · Authority: 1,816

  This stock collapse is petty when compared to the nature crunch George Monbiot, Guardian Iceland appoints women to clean up ‘male mess’ FT Alphaville (hat tip reader Richard) The Rich Support McCain, But The REALLY Rich Support Obama Clusterstock House of Lords deals fatal blow to 42-day terror detention plans Times Online The Short View: Market bounce John Authers, Financial Times. No one is perfect, but Authers is awfully good in reading short-term, and sometimes longer-term trends. He called to the day the turn in the credit market, for instance. What is remarkable about this piece is the degree of his skepticism. While Wall Street Celebrates, Others Warn Of Severe Recession Ahead Boom2Bust Nationalisation pushes debt to 100 per cent of GDP The Independent We have successfully transformed credit risk into solvency risk Eurointelligence 'Smart Money' Stays on the Sides Wall Street Journal. The article discusses how some big name hedge funds have gone heavily into cash, but is hugely remiss in failing to mention that one reason for this move is to meet investor redemptions. Antidote du jour. You get a bonus because I am in the mood. Please do not come to expect it. The first comes via reader Megan:

Advertise on Technorati