BLOG.JMHAMILTONPUBLISHING.COM: Category Archive for Finance

While other companies can still bid for the ResCap portfolio, they would have to pay Nationstar a $72 million breakup fee on top of a higher price for the rights under the terms of the offer, called a stalking horse bid.

Posted by J.M. Hamilton Blog at 5/24/2012 12:30 PM | Add Comment

The SEC is reviewing the accuracy and timing of JPMorgan’s disclosure of changes in how it calculates value-at-risk, or VaR, which shows how much it could lose from trading most days, Schapiro said.

Posted by J.M. Hamilton Blog at 5/24/2012 12:15 PM | Add Comment

The evidence on the charts is now leaning heavily toward the bearish side.

Posted by J.M. Hamilton Blog at 5/24/2012 12:00 PM | Add Comment

Europe’s banks, sitting on $1.19 trillion of debt to Spain, Portugal, Italy and Ireland, are facing a wave of losses if Greece abandons the euro.

Posted by J.M. Hamilton Blog at 5/24/2012 10:30 AM | Add Comment

Reuters reported, without identifying its sources, that Eurogroup members have been told to begin preparing for such an eventuality. The German government declined to comment.

Posted by J.M. Hamilton Blog at 5/24/2012 10:00 AM | Add Comment

"There was significant disappointment that we were heading into yet another inconclusive European summit," said Robert Sinche, currency strategist at RBS Capital Markets.

Posted by J.M. Hamilton Blog at 5/24/2012 9:30 AM | Add Comment

Signs of weakness in euro-zone business activity added to a poor reading on German business sentiment.

Posted by J.M. Hamilton Blog at 5/24/2012 8:35 AM | Add Comment

J.M. Hamilton: Always Cutting Edge, Often Prescient... From our 12-5-10 Editorial, Reap the Wind: "Hence, we all may very well be witnessing the death rattle of the Euro…."

Posted by J.M. Hamilton Blog at 5/24/2012 8:05 AM | Add Comment

Put differently, what has our high-tech financial industry really done for the rest of us of late?

Posted by J.M. Hamilton Blog at 5/24/2012 8:00 AM | Add Comment

The world’s shipping companies are turning to private equity to help fill a $249 billion funding gap left by European banks pulling out of ship financing.

Posted by J.M. Hamilton Blog at 5/24/2012 7:30 AM | Add Comment

The implied volatility of Morgan Stanley's bearish puts anticipates a sharp stock decline.

Posted by J.M. Hamilton Blog at 5/24/2012 7:00 AM | Add Comment

Patriot Coal Corp. said it is working with private-equity firm Blackstone Group LP on continuing refinancing plans.

Posted by J.M. Hamilton Blog at 5/24/2012 6:28 AM | Add Comment

Banks sell mortgages to investors and government-backed enterprises with a promise to buy them back if data on borrowers, their income or the property later turn out to be false.

Posted by J.M. Hamilton Blog at 5/24/2012 6:00 AM | Add Comment

Mr. Trott offered Mr. Buffett a “preferred with warrants,” a complex security that gave Mr. Buffett 10 percent annual interest on a $5 billion investment plus the option to buy additional Goldman stock at a set price.

Posted by J.M. Hamilton Blog at 5/24/2012 5:45 AM | Add Comment

"It seems Chinese regulators are hoping to copy the U.S. model of development for the brokerage industry," said Tian Liang, analyst at Guosen Securities.

Posted by J.M. Hamilton Blog at 5/24/2012 5:00 AM | Add Comment

The two banks have now sold the whole of the stakes they owned in the LSE.

Posted by J.M. Hamilton Blog at 5/24/2012 3:00 AM | Add Comment

Many newly public companies stumble out of the gate and later become top performers with appealing stocks, a group that includes Amazon.com.

Posted by J.M. Hamilton Blog at 5/24/2012 12:00 AM | Add Comment

Their use has mushroomed. One Wall Street firm, which provided proprietary data in exchange for anonymity, said 83 percent, or $334.8 billion, of outstanding foreign sovereign bonds as of early 2012 issued under New York law include collective action clau

Posted by J.M. Hamilton Blog at 5/23/2012 8:30 PM | Add Comment

The Chamber is planning to invest heavily in Senate races it considers critical, including in Massachusetts, Nevada, Nebraska, Montana, Florida, Missouri and North Dakota.

Posted by J.M. Hamilton Blog at 5/23/2012 7:30 PM | Add Comment

Economists, investors and veterans of past administrations are appraising potential successors to Treasury Secretary Timothy Geithner

Posted by J.M. Hamilton Blog at 5/23/2012 6:30 PM | Add Comment

“Bernanke took it upon himself to do more to help the economy along.”

Posted by J.M. Hamilton Blog at 5/23/2012 5:30 PM | Add Comment

Aside from shipbuilding, most of Greece’s industrial base has eroded in the 30 years since the government nationalized large areas of industry.

Posted by J.M. Hamilton Blog at 5/23/2012 5:00 PM | Add Comment

Bono for Pope???

Posted by J.M. Hamilton Blog at 5/23/2012 4:30 PM | Add Comment

Mr. Obama champions government as a linchpin of future economic growth and the average American’s protector from the excesses and failures of the free market.

Posted by J.M. Hamilton Blog at 5/23/2012 4:00 PM | Add Comment

The head of the anti-capitalist Syriza party, Alexis Tsipras, visited Paris and Berlin this week to broadcast his determination to halt the budget cuts demanded by Greece’s international creditors.

Posted by J.M. Hamilton Blog at 5/23/2012 2:30 PM | Add Comment

The U.S. economy will probably tip back into recession next year if Congress doesn’t address an impending “fiscal cliff,” the Congressional Budget Office said.

Posted by J.M. Hamilton Blog at 5/23/2012 12:45 PM | Add Comment

Two Ferrets in a Sack...

Posted by J.M. Hamilton Blog at 5/23/2012 12:30 PM | Add Comment

The company never lost the right to use the insignia on its cars and trucks. But its formal return to the company signals an important milestone in Ford’s turnaround.

Posted by J.M. Hamilton Blog at 5/23/2012 11:00 AM | Add Comment

"The argument that Volcker was absurd was building—greatly—and then this happened," said a Republican lawmaker on the House Financial Services panel.

Posted by J.M. Hamilton Blog at 5/23/2012 10:30 AM | Add Comment

JPMorgan’s whale is proving big enough to change the tide of regulatory reform in Washington.

Posted by J.M. Hamilton Blog at 5/23/2012 10:00 AM | Add Comment

And Wall Street wonders why individual investors won't return to the stock market...

Posted by J.M. Hamilton Blog at 5/23/2012 9:30 AM | Add Comment

THE PROBE... Morgan Stanley could face regulatory scrutiny over claims that an analyst shared negative news about Facebook Inc. (FB)

Posted by J.M. Hamilton Blog at 5/23/2012 9:00 AM | Add Comment

Aon (AON), Marsh & McLennan (MMC) and Willis Group (WSH) have the most exposure to Europe among the publicly traded brokers, at roughly one-third of total revenues.

Posted by J.M. Hamilton Blog at 5/23/2012 8:30 AM | Add Comment

“There is no reason to think there won’t be riots and violence,” said Lefteris Farmakis

Posted by J.M. Hamilton Blog at 5/23/2012 7:00 AM | Add Comment

the leaders of the Commodity Futures Trading Commission and Securities and Exchange Commission confirmed reports that their agencies had opened investigations into the nation’s biggest bank by assets.

Posted by J.M. Hamilton Blog at 5/23/2012 6:00 AM | Add Comment

Investment banking will become less profitable, and returns on equity will fall to similar levels as utilities, Banziger said.

Posted by J.M. Hamilton Blog at 5/23/2012 5:30 AM | Add Comment

Investors and analysts have been questioning how the company should be valued.

Posted by J.M. Hamilton Blog at 5/23/2012 5:00 AM | Add Comment

David Horsley, the former senior vice president and chief financial officer of Sino-Forest, was charged with violating securities law.

Posted by J.M. Hamilton Blog at 5/23/2012 3:00 AM | Add Comment

If Greece were forced to leave the euro zone, a step both Mr. Moscovici and Mr. Schäuble said they opposed, it could have dangerous ripple effects as speculators go after other vulnerable countries that use the currency

Posted by J.M. Hamilton Blog at 5/22/2012 8:00 PM | Add Comment

“The scale of their transactions remains an important issue,” said Eric Hilt, an associate professor of economics at Wellesley College in Massachusetts.

Posted by J.M. Hamilton Blog at 5/22/2012 7:29 PM | Add Comment

Ouch... FINRA?

Posted by J.M. Hamilton Blog at 5/22/2012 6:41 PM | Add Comment

Spot platinum rose to a one-week high of $1,469.65 an ounce but remained at a deep discount to gold, at about $120 an ounce.

Posted by J.M. Hamilton Blog at 5/22/2012 6:29 PM | Add Comment

"So they won't let us go bankrupt, no way. These are just threats. I'm going to vote anti-bailout."

Posted by J.M. Hamilton Blog at 5/22/2012 5:30 PM | Add Comment

Japan’s sovereign-credit rating was lowered by Fitch Ratings

Posted by J.M. Hamilton Blog at 5/22/2012 4:30 PM | Add Comment

A wave of anti-foreigner sentiment is washing over China.

Posted by J.M. Hamilton Blog at 5/22/2012 3:30 PM | Add Comment

The agency also created an office to analyze and manage the tips, resembling the F.B.I.’s terrorist review center.

Posted by J.M. Hamilton Blog at 5/22/2012 3:00 PM | Add Comment

The fast-growing salmon can be produced for 20 percent less, he said, making it more feasible to raise them inland.

Posted by J.M. Hamilton Blog at 5/22/2012 2:00 PM | Add Comment

J.P. Morgan's loss could affect the debate on many Dodd-Frank rules.

Posted by J.M. Hamilton Blog at 5/22/2012 1:30 PM | Add Comment

May 22 (Bloomberg) -- Pacific Investment Management CEO Mohamed El-Erian says a Greek exit from the euro will be "expensive and messy." He also says it is "probably inevitable."

Posted by J.M. Hamilton Blog at 5/22/2012 12:45 PM | Add Comment

France and Germany came no closer to a compromise on the thorny issue of how to revive economic growth in the euro zone after a meeting in Berlin on Monday

Posted by J.M. Hamilton Blog at 5/22/2012 11:30 AM | Add Comment

CalSTRS, an owner of millions of Wal-Mart shares, brought this shareholder action on behalf of Wal-Mart, seeking damages for the company as a result of alleged violations of fiduciary duties by corporate officials.

Posted by J.M. Hamilton Blog at 5/22/2012 11:00 AM | Add Comment

Some banks trading with J.P. Morgan figured their hedge-fund and other investor clients would want to bet against Mr. Iksil and eventually could profit if the trade started to go against J.P. Morgan.

Posted by J.M. Hamilton Blog at 5/22/2012 10:30 AM | Add Comment

The loss has prompted shareholders to join regulators in scrutinizing how banks use their investment offices to hedge risks and manage deposits they aren’t using for loans.

Posted by J.M. Hamilton Blog at 5/22/2012 10:15 AM | Add Comment

It is underpinned by the idea that quants must keep evolving in a market dominated by powerful computers able to mine ever-expanding sources of information.

Posted by J.M. Hamilton Blog at 5/22/2012 9:30 AM | Add Comment

The Dodd-Frank law was supposed to bring much-needed oversight to the multitrillion-dollar market for derivatives, including transparent trading, mandatory reporting and higher capital and collateral requirements.

Posted by J.M. Hamilton Blog at 5/22/2012 9:00 AM | Add Comment

Some investors faulted Morgan Stanley and Facebook for overloading the market with too many shares.

Posted by J.M. Hamilton Blog at 5/22/2012 8:31 AM | Add Comment

The most hyped IPO in history is turning into a disaster for Facebook and Wall Street underwriters as Facebook shares have fallen this morning by $4, or 10%, to $34.23, appreciably below the offering price of $38.

Posted by J.M. Hamilton Blog at 5/22/2012 6:30 AM | Add Comment

Two months after announcing a $15 billion share buyback program, JPMorgan Chase reversed course on Monday, saying it was halting the repurchases after the bank’s multibillion-dollar trading loss.

Posted by J.M. Hamilton Blog at 5/22/2012 6:00 AM | Add Comment

Many big banks' stocks appear to be breaking down technically

Posted by J.M. Hamilton Blog at 5/22/2012 5:30 AM | Add Comment

“I don’t disagree with the intent of the Volcker Rule,” Mr. Dimon, JPMorgan Chase’s chief executive, told fellow bankers in a speech on Monday.

Posted by J.M. Hamilton Blog at 5/22/2012 5:00 AM | Add Comment

Obama delivered a rip-roaring address at the University of North Carolina, in which he mocked the Republicans for wanting to make hardworking, non-affluent students victims of their budget-cutting impulses.

Posted by J.M. Hamilton Blog at 5/22/2012 12:00 AM | Add Comment

The agency joins the Securities and Exchange Commission and the Federal Bureau of Investigation, which are also examining possible wrongdoing at the bank, the nation’s biggest by assets.

Posted by J.M. Hamilton Blog at 5/21/2012 9:00 PM | Add Comment

Then the ’80s came. Everyone fell in love with money.

Posted by J.M. Hamilton Blog at 5/21/2012 7:30 PM | Add Comment

NEW ALGORITHMS

Posted by J.M. Hamilton Blog at 5/21/2012 6:30 PM | Add Comment

The most probable outcome is that the euro will evolve into a smaller union centered on France, Germany, Italy and Spain, and underpinned by stronger coordination and financing

Posted by J.M. Hamilton Blog at 5/21/2012 5:29 PM | Add Comment

Theme parks represent one of the few areas of stable growth outside of cable television for media and entertainment conglomerates like Comcast and Disney.

Posted by J.M. Hamilton Blog at 5/21/2012 5:00 PM | Add Comment

The specter of funding problems is once again haunting Europe's banks.

Posted by J.M. Hamilton Blog at 5/21/2012 3:30 PM | Add Comment

Even that new level is more than the $289,000 each of ExxonMobil's nonexecutives got paid on average last year.

Posted by J.M. Hamilton Blog at 5/21/2012 2:30 PM | Add Comment

But that's not all: Many loans will probably need to be written off entirely

Posted by J.M. Hamilton Blog at 5/21/2012 1:30 PM | Add Comment

The bank knew when it picked Goldman that his earlier work at Cantor Fitzgerald LP led to regulatory sanctions against Cantor, according to a person briefed on the situation.

Posted by J.M. Hamilton Blog at 5/21/2012 12:45 PM | Add Comment

So far, J.P. Morgan has given little detail around the trading losses and has said it won't furnish more until after the end of the second quarter.

Posted by J.M. Hamilton Blog at 5/21/2012 12:30 PM | Add Comment

G-8 leaders on May 19 urged Greece to stay within the euro area as polls in the country showed a close race between parties supporting and opposing the EU’s bailout deal.

Posted by J.M. Hamilton Blog at 5/21/2012 12:15 PM | Add Comment

With the European crisis heating up and concerns about economic growth in the U.S. and China, money once again is pouring into safe U.S. government debt

Posted by J.M. Hamilton Blog at 5/21/2012 11:29 AM | Add Comment

Insider trading prosecutions have been a priority of the United States Attorney’s Office in Manhattan

Posted by J.M. Hamilton Blog at 5/21/2012 11:00 AM | Add Comment

Irvin Goldman, who was installed as chief risk officer for the Chief Investment Office this past February before being relieved of his duties this month

Posted by J.M. Hamilton Blog at 5/21/2012 10:27 AM | Add Comment

Bearishness is up, expectations are down, and Facebook's launch fizzled.

Posted by J.M. Hamilton Blog at 5/21/2012 9:30 AM | Add Comment

CEO pay gains that march too far ahead of shareholder returns have become an issue in now-mandatory "say on pay" votes that let investors express a non- binding opinion

Posted by J.M. Hamilton Blog at 5/21/2012 8:32 AM | Add Comment

Will we get that kind of regulation? Not if Mr. Romney wins, obviously; he wants to repeal Dodd-Frank, and in general has made it clear that he would do everything in his power to set us up for another financial crisis.

Posted by J.M. Hamilton Blog at 5/21/2012 8:00 AM | Add Comment

A money-markets indicator is signaling that banks are increasingly reluctant to lend to one another as euro-area leaders discuss the future of the region’s currency.

Posted by J.M. Hamilton Blog at 5/21/2012 7:45 AM | Add Comment

“The slowdown in Asia which we’ll see in the very near term will catch the markets off guard,” Mahmud said in a May 16 interview.

Posted by J.M. Hamilton Blog at 5/21/2012 5:30 AM | Add Comment

THE multibillion-dollar trading loss at JPMorgan Chase has revived the idea of paring down banks that are too big to manage. That’s a good thing, if we ever hope to get off the boom-bust-bailout track.

Posted by J.M. Hamilton Blog at 5/21/2012 5:00 AM | Add Comment

The morning conference calls Ms. Drew had presided over devolved into shouting matches between her deputies in New York and London, the traders said.

Posted by J.M. Hamilton Blog at 5/21/2012 3:00 AM | Add Comment

“Venture capital involves luck and skill,” said Steven N. Kaplan, a professor at University of Chicago’s Booth School of Business.

Posted by J.M. Hamilton Blog at 5/20/2012 11:59 PM | Add Comment

"What has changed in the world since April? We went from hearing a constant refrain that the world is awash in money and markets must go higher to hearing nobody wants to take any risk. ... All in a week," said Peter Cecchini

Posted by J.M. Hamilton Blog at 5/20/2012 8:30 PM | Add Comment

Wednesday 23: European heads of state meet and are likely to address relaxing deficit targets. Germany sells bonds that could have a zero coupon.

Posted by J.M. Hamilton Blog at 5/20/2012 8:00 PM | Add Comment

“Prosecutors say insider trading won’t be tolerated, that this is justice,” Mr. Parmigiani says of the Galleon case. “But they refuse to acknowledge that their widespread net has a very big hole in it.”

Posted by J.M. Hamilton Blog at 5/20/2012 6:30 PM | Add Comment

The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting.

Posted by J.M. Hamilton Blog at 5/20/2012 4:30 PM | Add Comment

Royal Dutch Shell, he says, is the "Exxon of Europe, but it's a good deal cheaper."

Posted by J.M. Hamilton Blog at 5/20/2012 3:00 PM | Add Comment

Mr. Dimon said: "The portfolio still has a lot of risk and volatility going forward.…We're willing to hold as long as necessary inventory and we're willing to bear volatility."

Posted by J.M. Hamilton Blog at 5/20/2012 2:30 PM | Add Comment

A COMPANY SEEKING to become a REIT must satisfy two main criteria: It must derive at least 75% of its revenue from rents and other direct real-estate activities, and it must pay out at least 90% of its profits to shareholders as dividends.

Posted by J.M. Hamilton Blog at 5/20/2012 12:15 PM | Add Comment

You can buy VIX calls, go long SPDR S&P 500 Trust (SPY) puts, but the financials are in the hurricane's eye, so buy puts.

Posted by J.M. Hamilton Blog at 5/20/2012 11:30 AM | Add Comment

“It’s not necessary for G-8 leaders to agree on what the relative burdens of austerity and stimulus are but if what we want is to avoid another Lehman-panic scenario...."

Posted by J.M. Hamilton Blog at 5/20/2012 10:45 AM | Add Comment

Boehner admitted that "allowing America to default would be irresponsible."

Posted by J.M. Hamilton Blog at 5/20/2012 10:30 AM | Add Comment

Greece is the leading problem, but if Greece leaves the euro currency there is widespread concern that Spain, with a much larger economy, would follow it.

Posted by J.M. Hamilton Blog at 5/20/2012 10:00 AM | Add Comment

QE also would be the easiest expedient for the European Central Bank to ease -- if not fix -- the region's debt crisis.

Posted by J.M. Hamilton Blog at 5/20/2012 9:30 AM | Add Comment

Dimon Oversaw Bets, and the Losses may grow for JP Morgan: Bloomberg

Posted by J.M. Hamilton Blog at 5/20/2012 8:44 AM | Add Comment

Jamie Dimon has a week to forget.

Posted by J.M. Hamilton Blog at 5/20/2012 8:31 AM | Add Comment

I would say that there is maybe a 30% chance in the next six-month to two-year period of a really bad shock from Europe.

Posted by J.M. Hamilton Blog at 5/20/2012 8:01 AM | Add Comment

American International Group Inc., Allstate Corp. and FGIC Corp. were among nine members named to the committee, which will negotiate on behalf of unsecured creditors.

Posted by J.M. Hamilton Blog at 5/20/2012 6:30 AM | Add Comment

Seven months after the demise of MF Global, customers have still not received all of their money.

Posted by J.M. Hamilton Blog at 5/20/2012 6:00 AM | Add Comment

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