Hints and tips:
...(The experience prompted Dimon to pledge that he would “not do something like Bear Stearns again”.)...
...The exact make-up of the bond portfolios is unknown, but MBS analysts think the bulk of the holdings are securities that were bought by the lenders before interest rates and bond yields rose....
...Members of the group aren’t entirely unknown. One is the renowned Chinese businessman and poker player Paul Suen, who floated Birmingham City Football Club on the Hong Kong stock exchange....
...The analogy used by a colleague of mine was the blow up of two Bear Stearns-backed hedge funds in the summer of 2007....
...After Bear Stearns collapsed a decade ago, its last serving chief executive Alan Schwartz had a clear goal: build a new dealmaking firm with the capabilities of a Bear, but without the big leveraged bets...
...A year later, it sold its homegrown brand, Aeolus Tyre, to Pirelli, instantly giving the almost unknown domestic group, based in a backwater province, new branding closely associated with Formula 1....
...The 48-year-old joined the company in 1998 after stints at Bear Stearns, T Rowe Price and Fidelity....
...Bear Stearns, Lehman Brothers and MF Global, the largest failures in investment banking history, all failed because of the instability of their trading platforms....
...An unknown trader sent shares in HSBC in the opposite direction last year, lifting them by as much as 10 per cent after what was believed to be a fat-fingered mistake....
...The crisis in the market for subprime loans set off a series of events that eventually led to the collapse of US investment banks Bear Stearns and Lehman Brothers....
...Jason Stearns, a Congo expert at the Rift Valley Institute in Kenya, sums these up neatly: “How can Rwanda and Rwanda’s clients in the eastern DRC be persuaded that they do not need to support armed groups...
...But it is fair to say that, two years on from the failure of the likes of Bear Stearns and Lehman Brothers, the banking sector is in generally decent fettle....
...It is also known that Bear Stearns – and as a result current owner JPMorgan – may have lost $100m....
...When asked about those heady days, JPMorgan’s executives talk of unprecedented risks, see-sawing markets and an all-pervasive fear of the unknown....
...However, that is precisely why the potential parallel with Bear Stearns is so fascinating....
...The Fed’s Primary Dealer Credit Facility, or PDCF, was initiated in March 2008, in response to troubles at Bear Stearns and the seizing-up of money markets....
...At the peak of the turmoil, Jamie Dimon, the bank’s chief executive, snapped up two coveted competitors within six months – Wall Street firm Bear Stearns and Washington Mutual, a regional lender....
...Partners at New Castle, the former Bear Stearns hedge fund embroiled in an insider trading crackdown by US authorities last month, have told investors they are moving to establish a new fund in order to...
...Mr Kiener – described on the group’s website as psychologist and the creator of the ”K1 fund allocation system” – is a relative unknown in hedge fund circles....
...The soft-spoken son of a train dispatcher from southern Illinois was largely an unknown quantity when he arrived in Zurich in 2007, plucked from the group’s investment bank....
...Peter Koh, unknown JA: Yes. Diversification is as good an idea as ever....
...And that boss used state-of-the-art computers to match buy and sell orders for important, big-name customers – institutions such as Bear Stearns, Charles Schwab, Fidelity and Lehman Brothers....
...Unknowns: The derivatives market We invite your suggestions....
...The long-term cost – or even profit – of the operations being launched in Washington depends on a number of known unknowns and possibly some unknown unknowns as well....
...Bear Stearns and Lehman Brothers, two of Wall Street’s oldest names, have disappeared while Goldman Sachs and Morgan Stanley have become commercial banks....
International Edition