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A Bad Bear Stearns Trade Can Teach Investors a Lot

(Bloomberg Opinion) — What do you do when a trade goes awry?That was the subtext of a Wall Street Journal column on Christmas Day, “Eleven Years in the Making: Breaking Even on JPMorgan’s Purchase of Bear Stearns.”“It only took 4,209 days, but I am finally even!!!” So declared Stephen Bearce, now a broker at Wells Fargo. He had taken a flier on 100 Bear Stearns shares amid its epic collapse from $171.51 — its record closing price on Jan. 12, 2007 — to where Bearce bought it at $30 a share on Friday, March 14, 2008. By the following Monday, …read more […]

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Louis Dreyfus owner pledges her stake as collateral in $1 billion Credit Suisse loan: filing

Margarita Louis-Dreyfus borrowed $1 billion from Credit Suisse last year to buy out minority shareholders of Louis Dreyfus Company (LDC) and pledged her majority stake in the commodities trader as collateral, a company filing showed. The loan was used to buy a 16.6% stake in the company from other family members and the share pledge means, if Margarita Louis-Dreyfus can’t repay or refinance the loan, Credit Suisse could take control of the 169-year old business. Margarita Louis-Dreyfus, who assumed control of the 169-year-old trading house in 2009 on the death of her husband Robert, sought the loan as …read more […]

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Market Morning: Iraq Votes to Expel US Army, Iranians Boiling

Iran to Respond Militarily, Iraq Votes to Expel US From Iraq, Trump Refuses Major General Hossein Dehghan, military adviser to Ayatollah Khamenei, has told CNN that Iran’s response to the assassination of General Qassem Soleimani will be military in nature. Presumably this is as opposed to targeting civilians in reprisal. He said that the retaliation […]The post Market Morning: Iraq Votes to Expel US Army, Iranians Boiling appeared first on Market Exclusive. …read more […]

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Boeing considers raising more debt as MAX crisis weighs: WSJ

Boeing did not immediately respond to a Reuters request for comment. The planemaker has said it will halt production of the 737 MAX this month following the grounding in March of its best-selling plane after two fatal crashes in five months killed 346 people. The WSJ report comes a day after Boeing and the Federal Aviation Administration confirmed they were reviewing a wiring issue that could potentially cause a short circuit on the grounded 737 MAX. …read more […]