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A Bad Bear Stearns Trade Can Teach Investors a Lot

January 6, 2020 admin Comments Off on 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

January 6, 2020 admin Comments Off on 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

January 6, 2020 admin Comments Off on 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

January 6, 2020 admin Comments Off on 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 […]

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Soleimani Killing Leaves Trump’s Mideast Strategy in Tatters

January 6, 2020 admin Comments Off on Soleimani Killing Leaves Trump’s Mideast Strategy in Tatters

(Bloomberg) — U.S. President Donald Trump and his top aides spent the weekend arguing that the killing of Iranian General Qassem Soleimani would deter future attacks and make the Middle East safer.Instead, U.S. policy in the region seems to be going in the opposite direction of what Trump has long promised — with more U.S. troops going in, not fewer; an Iran defiant, not cowed and broken by sanctions; and regional allies giving only lukewarm support to Trump’s airstrike instead of rallying around it.Economic costs of the strike are also mounting: oil surged above $70 a barrel on Monday and …read more […]

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French Strikes Against Macron Pension Reform Enter Second Month

January 6, 2020 admin Comments Off on French Strikes Against Macron Pension Reform Enter Second Month

(Bloomberg) — Strikes against French President Emmanuel Macron’s pension reform plan entered their second month, the longest such action for state-owned railway company SNCF.Transport remained gummed up as unions prepared for two more days of street protests while the government said a compromise was near.Prime Minister Edouard Philippe will start another round of discussions with union representatives on Tuesday, which will mark the SNCF’s 34th consecutive day of strikes.“I expect Edouard Philippe’s government to find a route to a quick compromise that respects the principles I have repeated,” Macron said during his New Year speech last week. “The pension reform …read more […]