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Markets
Fridson Says Junk Debt Is ‘Extraordinary Opportunity’
Martin Fridson is one of the best known high yield bond analysts out there. For a very long time he was the head of Merrill's high yield research group, the group that analyses the prospects of debt issued by companies with non-investment…
Is the U.S. stock market close to bottoming?
After another brutal day in the market, whether the market is bottoming does not seem like the question on most people's minds. Ten stocks declined for every one up today -- and on heavy volume. Retail investors are clearly switching into…
Obama’s mortgage relief and housing plan
The details on Obama' new mortgage relief plan are out. The key parts are the following:
Cramdowns are coming your way
Below is an interview with an expert on the issue of mortgage cramdowns. Basically, this issue is all about debt forgiveness for borrowers and writedowns for lenders. Lenders do not like cramdowns for that reason. See below for a view on…
Fleckenstein: Protect yourself from Financial Armageddon with gold
Bill Fleckenstein is a well-known money manager and write over at MSN Money. He has been fairly bearish on the medium-term outlook for U.S. equities and technology stocks in particular for some time. His viewpoint stems from what he sees…
Pre-market update: 2009-03-02
We should expect a very negative open to the markets today. The Dow Futures are pointing to an open under 7000, with key support levels to be tested.
As usual, the reason is the financial sector with AIG and HSBC making headlines. AIG…
Jeremy Grantham: “Pull the trigger”
In a Fortune article about how the market is hitting new lows, Jeremy Grantham predicted we will see a material new low. He's talking about 600, or mind you, 450 on the S&P 500. Now, that's low.
Nevertheless, he's fairly bullish…
Nationwide: U.K. house prices down 17.6% in year to Februay
The Nationwide has released its latest house price survey, showing a very large 1.8% fall in British house prices between January and February 2009. This brings the yearly decline to a record 17.6%.
Yet, incongruously, the Nationwide…
John Paulson: Distressed assets best opportunity in a lifetime
The overall stock market may be declining, but that does not mean there are no bargains to be had. Witness this article about John Paulson, the famed hedge fund manager who made billions shorting stocks over the past years.
Distressed…
Commercial real estate: down even more than residential
The S&P Real Estate Index is down 60%. This segment gives a good overview of how commercial real estate is doing and what to expect going forward.