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lindismith
Participanta tid-bit from todays Market Beat column in the WSJ online:
August 2, 2007, 10:02 am
Reading: Scanning the Books
Posted by Joanna OssingerIn today’s Journal, David Reilly and Karen Richardson talk about how hard it is to find subprime-mortgage-related losses in financial companies’ statements. They quote a hedge-fund manager as saying that “We’ve been looking for financials that show losses from these securities on their books, and they’ve been very tough to find” because “it’s very opaque.” They write that some ways to value assets “can allow a firm to take an unrealistically optimistic view that overlooks potential losses,” particularly in securities that are thinly traded. They say that coming accounting-rule changes could help, but likely not for a year or more.
Roddy Boyd writes in today’s New York Post about some of the hedge funds that are suffering, taking “their sharpest losses in years” in the wake of the market’s recent turmoil. “Among the big names slammed were hedge-fund guru Paul Tudor Jones II, who had two funds take a hit yesterday, and billionaire Steve Cohen,” he says, and “Already, two funds run by Bear Stearns Asset Management have gone bankrupt and Sowood Management, a hedge fund created with great fanfare by a former executive of Harvard University’s $30 billion endowment, has collapsed.”
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SCARY.
Participanta tid-bit from todays Market Beat column in the WSJ online:
August 2, 2007, 10:02 am
Reading: Scanning the Books
Posted by Joanna OssingerIn today’s Journal, David Reilly and Karen Richardson talk about how hard it is to find subprime-mortgage-related losses in financial companies’ statements. They quote a hedge-fund manager as saying that “We’ve been looking for financials that show losses from these securities on their books, and they’ve been very tough to find” because “it’s very opaque.” They write that some ways to value assets “can allow a firm to take an unrealistically optimistic view that overlooks potential losses,” particularly in securities that are thinly traded. They say that coming accounting-rule changes could help, but likely not for a year or more.
Roddy Boyd writes in today’s New York Post about some of the hedge funds that are suffering, taking “their sharpest losses in years” in the wake of the market’s recent turmoil. “Among the big names slammed were hedge-fund guru Paul Tudor Jones II, who had two funds take a hit yesterday, and billionaire Steve Cohen,” he says, and “Already, two funds run by Bear Stearns Asset Management have gone bankrupt and Sowood Management, a hedge fund created with great fanfare by a former executive of Harvard University’s $30 billion endowment, has collapsed.”
*******
SCARY.
Participantof course it will have an impact on housing values!
You need to find out when your Carlsbad city council next meets, and go down there and tell them you don’t want it. Take your friends and family with you.
Before you go, try to find out what Walmart is kicking back to the city of Carlsbad as incentives.
Participantof course it will have an impact on housing values!
You need to find out when your Carlsbad city council next meets, and go down there and tell them you don’t want it. Take your friends and family with you.
Before you go, try to find out what Walmart is kicking back to the city of Carlsbad as incentives.
ParticipantNo, no surprise. Interesting that the industry is already dialed into the mortgage mess. From the same article:
“You’ve got a consumer right now that’s really being stretched,” Merkle said. “In many cases debt levels are incredibly high to the point where you’re seeing a lot of foreclosures.”
It’s not just going to be big-ticket items. It’s going to be everything.
Where’s that thread about the tipping point? I think whoever started it was dead on.
ParticipantNo, no surprise. Interesting that the industry is already dialed into the mortgage mess. From the same article:
“You’ve got a consumer right now that’s really being stretched,” Merkle said. “In many cases debt levels are incredibly high to the point where you’re seeing a lot of foreclosures.”
It’s not just going to be big-ticket items. It’s going to be everything.
Where’s that thread about the tipping point? I think whoever started it was dead on.
ParticipantAmazing.
I haven’t posted in a while, but have been reading. I just shake my head when I see what’s going on.
What’s next?
ParticipantAmazing.
I haven’t posted in a while, but have been reading. I just shake my head when I see what’s going on.
What’s next?
ParticipantThat is totally outrageous! That is not the way to do business. No wonder people are so fed up with this whole industry.
ParticipantThat is totally outrageous! That is not the way to do business. No wonder people are so fed up with this whole industry.
ParticipantIf you don’t know about it already, check out Dwell magazine.
They also have an online forum for people building their own houses – click on the Dwell Connect box on the far right bottom side of their site. (www.dwell.com) Through their site I have found many blogs of people who are doing what you want to do.
Dwell is mostly concerned with the prefab market, but there is a lot of good info and resources there for you. You can pick up Dwell at Whole Foods.
And, Whole Foods has a lot of other good magazines about this subject matter, but I just don’t know their names. It’s definitely worth stopping in to browse what they have.Relatedly, the whole genre is growing, and if you check out No Impact Man’s blog (a fav of mine) you will find all kinds of links to eco-living and sustainability.
http://noimpactman.typepad.com/blog/Let us know what you find. I’m very interested in this too.
My aunt and uncle built their own house in Australia, and are trying to live off the grid. It’s very hard. Oz is in a drought, and water’s very scarce. Despite having a dam at the bottom of their property, and collecting all the rain they can, they still have to ration. I have tons of stories about their lifestyle. If you want to email me, I can send you their contact info, and you can go straight to the horse’s mouth. lindismith at hotmail – put piggington in your subject line, so I know you’re not junkmail.
ParticipantRegarding Atlas: Perry, it’s still on. I live a block from it, and it continues to go up, albeit at a snail’s pace.
They seem to be on the final top floor for the housing portion, and they’ve dug out the parking, poured the cement, put up the steel structures and put cement into those for the retail portion. Remember, this is the structure that was supposed to be ready last summer! I know there’s been some major water problems on the street – pipes breaking etc. The billboards showing the ‘lifestyle of the future inhabitants’ are getting more and more defaced, with the pretty indian woman now doning a mustache and blacked out teeth. Don’t know if it’s the passers by or the construction workers doing it.
Atlas will bomb. It will be a better value than some of the other condos planned for Hillcrest/Bankers Hill, but I just don’t see how anyone will pay good money for screaming ambulences down 4th and back up 5th, plus the 2a.m. bar crowd. Like I said, I live about a block from it, and I had sound-proof windows installed in my rental apartment to quell the noise.
ParticipantWSJ has a nice article about it:
http://online.wsj.com/article/SB117910010258001458.html?mod=home_whats_news_us
“A four-bedroom home in Oceanside, Calif., attracted a high bid of $495,000 at the auction, 33% below the sale price recorded in November 2005 for the property. One condo in San Diego sold for $120,000, less than half of its previous value.”
ParticipantI hope someone can help them get out of that ARM.
The animals are beautiful!
I’m going to forward the link above to some of my animal-loving friends.
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