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Originally posted by GreenBicMan
reply to post by stander
Net Worth = 4 Billion
Looks like someone didnt graduate Wharton hmmhmhmm (old rich person laugh)
Jazz musician's son executed first trade at age 12. Studied finance at Long Island U., went to work in commodities division of Merrill Lynch 1972. Harvard M.B.A. 1973. Traded futures at brokerage CBWL-Hayden Stone; left after feud with boss. Founded money management and hedge fund outfit Bridgewater Associates 1975; investment firm claims 13% annual returns after fees. Assets under management: $165 billion. Shuns public markets: "The notion of selling hedge funds is ridiculous." Young employees routinely asked to critique upper-level management.
Today, a hedge fund investing billions using a quantitative formula can stall a stock; a couple of hedge funds aligned can turn a profitable company into a Dow laggard. Toss in a few short sellers and you have the great Wall Street collapse of September 2008.
It wasn't always this way. Before the machines and the shorts took over Wall Street, stocks were evaluated by an underlying company's prospects. Buy-and-hold investing ruled the day. Investors such as Warren Buffett and Bill Miller were the models.
Those fellows are a far cry from this generation's masters of the universe. Traders are in charge now. They rule the market. They dominate volume. That stock you bought because you thought the company was in good shape? It's a pawn in the hands of a computer model or some supertrader like Steven Cohen at SAC Capital Partners or Bridgewater Associates' Ray Dalio.
To move a security, they don't need to own it. They can have a short position. They can put an order to sell 1 million shares in a dark pool, those anonymous marketplaces that operate outside the walls of the exchanges. They can own options or futures contracts. Buy enough GM puts and watch the price begin to fall under the pressure.
Originally posted by redhatty
Oh Boy, things are getting so very interesting...
Belgium has announced that it intends to sell $1 Billion in 5 YR USD Denominated Bonds.
People trying to get away from the dollar???
Belgium sold $1 billion of five-year notes at a yield of 2.92 percent, Bloomberg data show.
"The crisis will happen again but it will be different," he told BBC Two's The Love of Money series.
"They [financial crises] are all different, but they have one fundamental source," he said.
"That is the unquenchable capability of human beings when confronted with long periods of prosperity to presume that it will continue."
Speaking a year after the collapse of US investment bank Lehman Brothers, which was followed by a worldwide financial crisis and global recession, Mr Greenspan described the behaviour as "human nature".
He said the current crisis was triggered by the trade in US sub-prime mortgages - home loans given to people with bad credit histories - but he added that any factor could have been the catalyst.
If it were not the problem of these toxic debts "something sooner or later would have emerged", Mr Greenspan said.
"The most recent endeavour to re-regulate is a reaction to the crisis. The extraordinary impact of these global markets is making a lot of financial people feeling they have lost control.
"The problem is you cannot have free global trade with highly restrictive, regulated domestic markets."
"It's human nature, unless somebody can find a way to change human nature, we will have more crises and none of them will look like this because no two crises have anything in common, except human nature."
big bets require at least a breakeven/gain
Originally posted by redhatty
reply to post by RetinoidReceptor
It's something that came across the new wires, I'm waiting for a full story to post the link.
It's *probably* their own bonds, but denominated in USD, but I can't be sure yet. The EIB is also looking to a 3yr USD denominated Bond as a benchmark offering
Link to EIB offering mention is www.fxstreet.com...
Originally posted by GreenBicMan
i hear some people on a call
hear that HF's were forced to liquidate positions in NG causing the last dip
also hear accumulation is beginning in some forms contrary to other barron that wanted to get in around 180 - 220
just something to think about
Sept. 9 (Bloomberg) -- The Federal Deposit Insurance Corp. proposed a six-month, emergency-only extension to its debt guarantee program as regulators move to wean companies from federal aid approved at the height of last year’s credit crisis.
The five-member FDIC board unanimously approved seeking comment on the extension, which would be limited to certain cases, during a meeting in Washington today. The FDIC now guarantees eligible debt issued before the scheduled Oct. 31 expiration by banks that must get agency approval and pay a fee.
Bankers have pressed the FDIC to spell out how it will end the program, which Federal Reserve Chairman Ben S. Bernanke has said was instrumental in keeping financial markets stable during the worst of the 2008 financial crisis. The program is half of the Temporary Liquidity Guarantee Program; a portion that backs business checking accounts was extended for six months at an FDIC meeting last month.
“The point here is to allow for an orderly transition out of a government-backed system,” said Robert Strand, a senior economist at the American Bankers Association in Washington, in a telephone interview yesterday. The ABA had asked the FDIC to “worry about the cutoff points and the suddenness” of ending the guarantees, to make sure closing down the program doesn’t roil markets, he said.
Under the limited extension, designed to help the FDIC phase out the program, banks would have to apply to the board for permission to access the aid and show that they were unable to issue unguaranteed debt due to market disruptions or other emergency circumstances.
The FDIC had about $320 billion in outstanding debt guaranteed by the program as of July 31, from firms including Citigroup Inc. and General Electric Co. Regulators are weaning banks from U.S. backing by requiring them to issue unguaranteed debt before repaying Troubled Asset Relief Program funds and escaping restrictions attached to that aid.
Issuance of FDIC-guaranteed bonds has shrunk to $10.8 billion in the third quarter of this year from $130.2 billion in the first quarter and $34.7 billion in the second, according to data compiled by Bloomberg.[/url]
And from the article:
"It’s a reasonable safeguard, and when things start declining again it’s helpful to have that option,” said Gregory Habeeb, who manages $7.5 billion in fixed-income assets at Calvert Asset Management Co. in Bethesda, Maryland. “The fact that it was extended is called ‘bad and good.’ The bad is that it’s still needed. The good is it’s still there if needed.”
But.. but... why do we have to keep kicking the can if things are getting better????
Stocks closed higher after faltering for awhile on a Federal Reserve report that the economy will remain weak due largely to unemployment.
The Fed's report was somewhat at odds with a growing consensus that the economy is out of recession and on the path to recovery.