According to Goldman on Wednesday they were not closing one of their hedge funds, on Thursday, well they might sorta maybe be downsizing one of their funds. According to 1440WallStreet, they will indeed be closing one of their funds, the North American Equities Fund. When it rains it pours........
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Theron
Thursday, August 9, 2007
Monday, August 6, 2007
Payback's a.......well I think we know
Seems that Bear is having quite a time, first their hedge funds implode, then they halt redemption's at a third fund and finally their co-head of trading and heir apparent is "asked" to leave. For a full re-cap of the story look here.
Many people have voiced opinions that one of the reasons for Bears legions of troubles is the fact that they did not participate in the bail out of LTCM which imploded when the Russia defaulted on its debt in the late 90's. That story here. As Bear being the only bank on the Street to not step up and help bail LTCM out of its debacle many of the others on the Street were not to happy. JP Morgan actually seized many of the assets used for collateral for one of Bears hedge funds when they were struck by the downturn in sub-prime earlier this year. Payback seems to be in full force for Bear.
Many people have voiced opinions that one of the reasons for Bears legions of troubles is the fact that they did not participate in the bail out of LTCM which imploded when the Russia defaulted on its debt in the late 90's. That story here. As Bear being the only bank on the Street to not step up and help bail LTCM out of its debacle many of the others on the Street were not to happy. JP Morgan actually seized many of the assets used for collateral for one of Bears hedge funds when they were struck by the downturn in sub-prime earlier this year. Payback seems to be in full force for Bear.
Sunday, August 5, 2007
First Post!
Welcome to Coffee Capital where discussion of the two most important things in life take place, good coffee and the markets.
Cheers,
Theron
Cheers,
Theron
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