The Lehman Story: Are They Off The Hook ?
Lehman Brothers tried to bolster investor confidence by releasing quarterly results and announcing measures to keep the firm afloat. A day after trouble for investment bank Lehman Brothers (LEH) started a broad stock sell-off, major stock indexes opened higher Wednesday when Lehman made a series of surprise announcements designed to bolster investor confidence. On Tuesday, [...]
Bill Gross Makes You Just Want To Short The Market
Bloomberg reports what Pimco CIO Bill Gross had to say about current markets: U.S. Must Buy Assets to Prevent Tsunami The U.S. government needs to start using more of its money to support markets to stem a burgeoning financial tsunami, according to Bill Gross, manager of the world’s biggest bond fund. Banks, securities firms and [...]
Credit Crunch Hurts Hedge-Fund Stars
WSJ: Credit Crunch Hurts Hedge-Fund Stars David Tepper, founder of hedge-fund firm Appaloosa Management LP, saw a negative 17% return last quarter in two funds with more than $6 billion in assets combined as bets on distressed debt went awry, according to fund documents. His Appaloosa Investment and Palomino funds gave up most of that [...]