Hints and tips:
...A fund manager, who described his former boss as a “big teddy bear” and “probably the smartest guy I have ever seen in the industry”, said that during a meeting in early 2007 Odey instructed his staff to...
...The now expansive buyout and private credit industries were also pioneered by small teams of former bankers from groups like Bear Stearns, Lehman Brothers and Drexel Burnham Lambert, who devised new financial...
...Then came the great financial crisis of 2007-09....
...assets that Blackstone manages....
...Solomon, meanwhile, joined Goldman in 1999 from Bear Stearns....
...Back in 2013, there were just six infrastructure investment trusts, with £4.3bn of assets....
...But Jason Hsu, founder of Hong-Kong based quantitative asset manager Rayliant says that Chinese EV makers such as Warren Buffett-backed BYD, which makes both batteries and EVs, are “cost leaders”....
...Yet banks have to maintain little capital to absorb potential losses on mortgage-backed securities issued by US government agencies, he said....
...Spreads on triple-B commercial mortgage-backed securities, the lowest rung of investment grade, are shooting up: And so are lenders....
...That argument for post-hoc free insurance for companies big enough to have a chief financial officer was never conclusive — I, for one, was sceptical — and it bears noting that it did not in the event stop...
...I don’t think we have a lot of chance for upside,” he says. Despite the collapse of the crypto exchange FTX, he rues that “trust is back and crypto will have a future place as an asset class”....
...Brussels officials thought asset managers would pass the costs on, not bear them as most did. That’s added to the general parsimony over payments....
...Cayne’s other existential mistakes included another decision, in 2007, to have Bear Stearns become the overnight lender to the two affiliated hedge funds that had invested heavily in various mortgage-backed...
...In today’s newsletter: The private equity doctor is in Boehly’s crypto dilemma Bond bears’ big bet on Japan (Anti)trust me, I’m a doctor To understand how private equity is changing US healthcare, it...
...Maybe it will bear fruit....
...For funds with a deficit of assets against liabilities, investing in riskier assets held out the hope of closing the funding gap....
...trust MGM Growth Properties to VICI Properties — another investor in casinos....
...The rift highlights a turf war between separate but overlapping business divisions at JPMorgan — tensions that grew more cut-throat when the bank acquired Bear Stearns during the 2008 financial crisis....
...Dick Fuld, Chuck Prince and Jimmy Cayne, heads of Lehman Brothers, Citigroup and Bear Stearns, are etched into narrative of the 2008 financial crisis....
...In August Hipgnosis Songs Capital issued $222mn of asset-backed securities, or bonds that use song copyrights as collateral, to help finance its acquisitions....
...“I’m a believer that there should be a place in the curriculum for history,” Turner adds. “ In asset pricing or insurance, for example, the long-run experience is really important....
...As you might expect, a lot has changed since 2007, with the disappearance of Lehman Brothers and Bear Stearns, the reshuffling of business models by UBS, Credit Suisse and Deutsche Bank, and the rise of...
...The fund was born in 2007. “While investor education is important, I think investors understand the difference between a bitcoin futures ETF and one that actually tracks bitcoin,” Mishra said....
...The analogy used by a colleague of mine was the blow up of two Bear Stearns-backed hedge funds in the summer of 2007....
...The fall of Brooks Brothers, the brand once sported by everyone from Abraham Lincoln to John F Kennedy to the bigwigs at Lehman Brothers and Bear Stearns, ushered in the beginning of the end in 2020....
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