Category Archives: stocks

Blowing Bubbles

Posted on July 18, 2007 by Felix

Both Shiller and Leonhardt conclude the same thing: that stocks are expensive.
Which is a bit weird, considering that, relative to everything else, they certainly
seem as though they’re actually
rather cheap.
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Posted in economics, stocks | Comments Off on Blowing Bubbles

John Mackey Still Hasn’t Resigned

Posted on July 17, 2007 by Felix

Whole Foods CEO John Mackey wants
me to forgive him. (I shop at Whole Foods on the Bowery – great sausage
selection – so I count as a "stakeholder" in the company.) Well,
I don’t forgive him. Not at all.
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Posted in defenestrations, stocks | Comments Off on John Mackey Still Hasn’t Resigned

Fundamental Analysis Is Useless

Posted on July 16, 2007 by Felix

Barry Ritholtz reads Mark Hulbert, and saves
the rest of us a Barron’s subscription.
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Mackey’s Sock-Puppetry is No Joke

Posted on July 16, 2007 by Felix

The Wall Street Journal’s editorial page weighs
in today on the subject of John Mackey and his sock-puppetry.
"Apparently U.S. financial regulators don’t get the joke," says the
leader-writer, although I can’t see anyone else smiling in here.
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Posted in governance, stocks | 1 Comment

Between the Cracks: Today’s $2 Billion Brazilian IPO

Posted on July 13, 2007 by Felix

A consortium of three banks
in Brazil, including Citigroup, has just sold a
22% stake in Redecard, the Brazilian credit-card network, for $2.15 billion.
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Mackey Should Resign, Regardless of What the Law Says

Posted on July 13, 2007 by Felix

If Boeing CEO Harry Stonecipher can be fired
after having a legal, consensual affair with a co-worker, then it beggars belief
that Mackey, whose behavior was much more damaging to his company, should retain
his corner office.
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BRICs vs ICs

Posted on July 12, 2007 by Felix

Justin Fox today lays
out the reasons why Brazil and Rusia pale in importance besides India and
China.
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Posted in emerging markets, stocks | Comments Off on BRICs vs ICs

Adventures in Corporate Doublespeak, Jones Apparel Edition

Posted on July 12, 2007 by Felix

Jones Apparel CEO Peter Boneparth has
been fired. Bloomberg explains
why:
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John Mackey Still Hasn’t Resigned, And Probably Won’t

Posted on July 12, 2007 by Felix

The reaction to the John Mackey sockpuppet
scandal has been surprisingly muted this morning.
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Posted in stocks | 1 Comment

John Mackey, Sockpuppet, Should Resign

Posted on July 11, 2007 by Felix

Mackey should resign as CEO of Whole Foods: he clearly doesn’t have the self-control necessary to run a major public company.
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Who Will Get Acquired On Monday?

Posted on July 7, 2007 by Felix

Cotten
Timberlake has been looking at action in Macy’s and Target shares, and reckons
it’s consistent with the kind of insidery
trading which often precedes an acquisition announcement or a shareholder-friendly
spinoff.
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Why Dell Won’t Get Delisted

Posted on July 6, 2007 by Felix

In the staredown between Dell and Nasdaq, it’s the stock exchange, not the
computer company, which blinked
first.
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Posted in governance, stocks, technology | Comments Off on Why Dell Won’t Get Delisted

Adventures in Technical Analysis, Apple Edition

Posted on July 6, 2007 by Felix

Every so often, one comes across a piece of technical analysis mumbo-jumbo
so glorious in its meaninglessness that one can only stand back in admiration,
as though it were a Leonardo painting or perhaps a magnificent skyscraper.
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Edward Pastorini Unmasked as Theodore Roxford

Posted on July 5, 2007 by Felix

Theodore Roxford makes something of a career out of bogus takeover bids.
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Emerging Markets Reach Parity With Developed Markets

Posted on July 5, 2007 by Felix

Emerging-market
equities are now trading at the same multiple as developed markets
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Posted in emerging markets, stocks | Comments Off on Emerging Markets Reach Parity With Developed Markets

Blackstone vs KKR: Schwarzman Wins

Posted on July 4, 2007 by Felix

Now that both Blackstone and KKR have lifted their kimonos for the investing
public, it’s pretty obvious that Blackstone has won the face-off.
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Posted in private equity, stocks | Comments Off on Blackstone vs KKR: Schwarzman Wins

IPO Datapoints of the Day

Posted on July 3, 2007 by Felix

Michelle Leder notes that eight different
companies filed
to go public in just one day yesterday, including giants Och-Ziff Capital
and Netsuite.
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Blank-Check Companies: Good Value?

Posted on June 28, 2007 by Felix

Megan
Barnett wonders what a conservative value investor is doing in high-risk
investments with no real assets:
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Propping Up the Blackstone Share Price

Posted on June 27, 2007 by Felix

It turns out
that those 20 million extra Blackstone shares that the lead managers sold
on Monday didn’t necessarily make $234 million for Steve Schwarzman personally
after all. The point of a greenshoe, it seems, is to help support the price
of the stock if it falls below the offering price – as BX, of course,
did
on Tuesday.
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Posted in banking, private equity, stocks | Comments Off on Propping Up the Blackstone Share Price

Punishing Short-Sellers

Posted on June 27, 2007 by Felix

What is the SEC
doing fining UK hedge fund GLG Partners $3.2 million over illegal
short-selling?
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Posted in hedge funds, stocks | Comments Off on Punishing Short-Sellers

Carlyle MD: The Blackstone IPO was “Highly Successful”

Posted on June 27, 2007 by Felix

With Blackstone stock languishing below its offering price, few people would
count the private equity firm’s IPO as a smashing success. But among
them, it would seem, is Carlyle Group managing director Jason Lee:
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Blackstone Deserted By Its Own Bankers

Posted on June 26, 2007 by Felix

If you have seventeen different underwriters on a deal, and they all say that a certain stock is worth (say) $31 per share, there’s bound to be a pretty strong bid at that level. Right?
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Blackstone Falls Below its Offering Price

Posted on June 26, 2007 by Felix

Blackstone went public at $31 per share. It’s now trading below that, which is bad news for other private-equity shops looking to go public.
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Comparing Members of the $170 Billion Club

Posted on June 25, 2007 by Felix

Google has caught up with Berkshire Hathaway in terms of market capitalization.
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Why Blackstone Won’t Skyrocket Today

Posted on June 22, 2007 by Felix

The main reason that the offering is oversubscribed is, well, that it’s oversubscribed.
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Posted in private equity, stocks | Comments Off on Why Blackstone Won’t Skyrocket Today