Other than price targets, there is nothing more asanine than someone declaring on television (without risk of going to prison), that something is the buy or sell of a LIFETIME. If so, why share it with an idiot like me (or you ). Go borrow all the money in the world on an IOU on a scrap piece of napkin (that’s how banks lend). Here is what it looks like:
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The residential-mortgage REIT sector has been hammered again today, particularly after news of Thornburg Mortgage’s release detailing financing problems and its ability to remain solvent. But two of the four companies that invest primarily in agency-backed paper are posting strong gains today — …
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addslashes(Top 10 Most Searched Stocks on TheStreet.com, Mar. 7
There’s a bit of buzz today over Goldman Sachs’s 2007 executive pay packages. It’s all a bit confusing: do you include previous years’ stock grants? How do you account for options?
If you add up stock awards and options awards and cash payments from 2007 alone, Lloyd Blankfein got $68.5 million last year, while the top five executives between them made $305 million.
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$$$ Trial By Economic Jury [TS]
$$$ Looking for one female. Spending Allowance? Yes. That’s $2,165 per month or $26,000 per year for you to squander. Not bad, huh? It will pay a few of your bills, NO? Spend your allowance as you see fit. Spend it on us, you, the apartment - your pick - your choice - your spending allowance. [craigslist]
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If you thought oil prices of today are high with oil prices north of $105/barrel, imagine what a $120/barrel, or $150/barrel, or even $200/barrel oil would do. A firm called United Energy now has a $120 target near-term for oil, and recently and at the end of February we saw Deutsche Bank ponder the thought of a $150/barrel price for oil. Now we have Goldman Sachs (NYSE: GS) joining the fray with a call that at least ponders (not predicting) prices far north of its last $135 super-spike call that had been raised from $100/barrel. Goldman Sachs isn’t really predicting…
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Are Google and/or Microsoft interested in buying Digg? We don’t know:
Google and Microsoft both declined to comment on whether they are interested in Digg, issuing identical statements that they do not address "rumors or speculation."
Identical, you say? I don’t know why I was instantly reminded of t…
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Here is a day in the life of a financial services CEO, courtesy of my friend Dick Costolo: 9am Private jet to DC 10am-11am Get yelled at by Henry Waxman 1pm Mmmm, steak! 4pm Martinis with other CEOs 6pm Private jet to NY
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Just thought I’d share.
Earlier: How to Think About I-Bank CEOs, Dumb-Money Arabs and Their Sitcom Counterparts
Colombia worries about the economic hit it will take for the military strike it made last week on a FARC guerrilla outpost across the border in Ecuador. Venezuelan President Hugo Chavez, a pal of revolutionary forces, pulled his ambassador and closed Venezuela’s borders to Colombia in solidarity with Ecuador.
It gets worse for Thornburg Mortgage. The residential-mortgage REIT, which invests primarily in adjustable-rate mortgages, said it will have to restate financial results for 2006 and 2007, adding that it has doubts “about its ability to remain a going concern….
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The little good news in today’s employment reports wasn’t so good after all. The unemployment rate fell to 4.8% in February from 4.9% largely because of workers giving up hope and ending their job searches.
The Labor Department said 450,000 left the labor force last month, outweighing an employment decline of 255,000 (to 146 million) in the number of people employed. The figures are tallied from a government survey of households; a separate poll of employers provides the payroll data, which showed the second straight decline in jobs.
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Including $45.76 million in vested stock, Lloyd Blankfein “earned” $100 million in 2007, which the Goldman CEO tells DealBreaker he’ll be putting toward the Bowflex machine he needs in order to train for his upcoming fight with Lou Dobbs. Other senior executives at firm also got paid a decent amount. Meanwhile, f…
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Here’s an observation on political markets. This is a clip of Larry Kudlow, Robert Reich and Steve Moore discussing what a great job John McCain did at the CNBC/MSNBC/WSJ debate in October.
After hearing that, you could have run out and bought McCain-to-win contract for just 5.2 cents. Today, you’d be sitting on a profit of…oh, about 1,700%.
Lloyd Blankfein, the CEO of Goldman Sachs, made $100 million last year. His salary was just $600,000. The rest comes from stock and bonuses. Here’s the SEC filing….
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Reddy Ice (NYSE: FRZ) Offices raided by Feds. Drops to $12 from 52-week high of $32.21. Washington Mutual (NYSE:WM) One of the largest mortgage brokers. Falls to $9.91 from 52-week high $44.66. Nortel (NYSE: NT) Telecom equipment company continues to struggle in a bad industry. Sells off to $6.71 frm 52-week high of $28.61. Blackstone (NYSE: BX) One of the worst IPOs of all time. Down to $14.16 from 52-week high of $38. Angiodynamics (NASDAQ: ANGO) Weak forecast for earnings. Sells off to $9.80 from 52-week high of $23.92. Peoplesupport (NASDAQ: PSPT) Bad earnings and two brokerage downgrades. Off to…
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In times of turmoil, it’s comforting to have the dry witticisms of the British. Barry Ritholtz, on his blog, quotes a missive going around the financial community, purportedly about rumors of more bail-out rumors on Ambac Financial. &…
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You know, as much as I want to enjoy this beat-down of financial services CEOs, Oversight Committee Chairman Henry Waxman is driving me nuts. Demanding that Countrywide CEO Angelo Mozilo explain each of his stock sales, when said stock sales are part of a stock-selling program, and asking each time "How was that good for shareholders?", just makes Waxman look like a clueless, chest-thumping, pandering, proselytizing, and utterly adrift nitwit. …
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