Bulls, Bears & Bucks #47: PPT en DPG bereiden zich voor

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Op maandag 20 oktober 2008 19:27 schreef Drugshond het volgende:

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Mjah, met het verschil dat je bij IceSave een vrije (online)-rekening had.... hier moet je je geld in laten slapen voor een bepaalde periode.

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Op maandag 20 oktober 2008 19:57 schreef pberends het volgende:

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Een kennis van mij had vorige maand nog een rentecertificaat bij de Postbank voor 5,5% geopend.

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Op maandag 20 oktober 2008 20:31 schreef icecreamfarmer_NL het volgende:

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icesave is al ongeveer 6 maanden actief op de NL markt

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Lahde Quits Hedge Funds, Thanks `Idiots' for Success (Update1)

By Katherine Burton

Oct. 17 (Bloomberg) -- Andrew Lahde, the hedge-fund manager who quit after posting an 870 percent gain last year, said farewell to clients in a letter that thanks stupid traders for making him rich and ends with a plea to legalize marijuana.

Lahde, head of Santa Monica, California-based Lahde Capital Management LLC, told investors last month he was returning their cash because the risk of using credit derivatives -- his means of betting on the falling value of bonds and loans, including subprime mortgages -- was too risky given the weakness of the banks he was trading with.

``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government.

``All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.''

Lahde, who managed about $80 million, told clients he'll be content to invest his own money, rather than taking cash from wealthy individuals and institutions and trying to amass a fortune worth hundreds of millions or even billions of dollars.

``I do not understand the legacy thing,'' he wrote. ``Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.''

Request for Soros

He said he'd spend his time repairing his health ``as well as my entire life -- where I had to compete for spaces at universities, and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not.''

He also suggested that billionaire George Soros sponsor a forum in which ``great minds'' would come together to create a new system of government, as the current system ``is clearly broken.''

Lahde ended his letter with a plea for the increased use of hemp as an alternative source of food and energy that segued into a call for the legalization of marijuana.

``Hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products,'' he wrote. ``Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term.''

`Innocuous Plant'

He added, ``The evil female plant -- marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country.''

Lahde said the only reason marijuana remains illegal is because ``Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other addictive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers.''

Lahde graduated from Michigan State University with a degree in finance and holds an MBA from the University of California, Los Angeles. He worked at Los Angeles-based hedge fund Dalton Investments LLC before founding his own firm two years ago with about $10 million.

Lahde wasn't available for comment. A woman at his firm, who asked not to be identified, confirmed the authenticity of the letter.

ska-p legalizacion

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Op maandag 20 oktober 2008 16:33 schreef Q. het volgende:
Als je een bedrag zo ver over het garantie-bedrag op een shabby buitenlands bankje zet dan vraag je om problemen. Wie zijn billen brandt...

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Op maandag 20 oktober 2008 19:27 schreef Drugshond het volgende:

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Mjah, met het verschil dat je bij IceSave een vrije (online)-rekening had.... hier moet je je geld in laten slapen voor een bepaalde periode.

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Euro op laagste punt in ruim 1,5 jaar

LONDEN (ANFN- De euro is dinsdagochtend ten opzichte van de dollar gezakt tot het laagste niveau sinds maart 2007. De Europese eenheidsmunt daalde tot 1,3237 dollar.

De waarde van de dollar loopt op door de grote vraag naar de Amerikaanse munt op de kredietmarkten en door berichten over een nieuw stimuleringsplan voor de Amerikaanse economie. De euro staat daarentegen onder druk door toenemende zorgen over de afzwakkende Europese economie.

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Op maandag 20 oktober 2008 21:03 schreef simmu het volgende:
gheghe, hier moet ik toch om giechelen hoor (ik ben een dame tenslotte)
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Fed Launching New Effort To Help Out Money Funds

The Federal Reserve launched a new facility to fund purchases of certificates of deposit and commercial paper from money market mutual funds in the latest step to provide liquidity to strained financial markets.

Financial Crisis

The Fed is tapping its Depression-era emergency powers and creating a new facility to buy a vast array of commercial paper from the funds.

Money market mutual funds have been under pressure as skittish investors demand withdrawals. Many companies rely on commercial paper for short-term funding needs to pay workers and buy supplies.

The situation has led to an intense credit crunch for companies depending on commercial paper.

"The short-term debt markets have been under considerable strain in recent weeks as money market mutual funds and other investors have had difficulty selling assets to satisfy redemption requests," the Fed explained.

"By facilitating the sales of money market instruments in the secondary market," the Fed added. The facility "should improve the liquidity position of money market investors, thus increasing their ability to meet any further redemption requests and their willingness to invest in money market instruments."

The New York Fed will provide senior secured funding to a series of special purpose vehicles to finance purchases of certificates of deposit and commercial paper from U.S. money market mutual funds and others, the central bank said.

Eligible assets include dollar-denominated CDs and commercial paper issued by highly rated financial institutions and having remaining maturities of 90 days or less.

Eligible investors include U.S. money market mutual funds but may over time include other U.S. money market investors, the Fed said.

By doing so, the Fed hopes to improve conditions so that banks and other financial institutions will be more inclined to lend to each other and to consumers and businesses.

Not everyone cheered the Fed's latest move.

"We are in a very bizarre market," said Brian Dolan, chief currency strategist for Forex.com. "This latest move by the Fed is a blow to the market's psychology. It means that money market funds are having difficulty meeting redemptions and investors are still putting their money in their mattresses."

CNBC

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U.K. likely in recession, King says
Signals further rate cuts as Britain starts 'long march' back

Shaken by the nation's worst banking crisis since World War I, the U.K. economy has likely entered a recession and faces a "long march" back to stability, said Mervyn King, governor of the Bank of England. "The combination of a squeeze on real take-home pay and a decline in the availability of credit poses the risk of a sharp and prolonged slowdown in domestic demand," the central bank chief said. "Indeed, it now seems likely that the U.K. economy is entering a recession."

Speaking in Leeds on Tuesday evening, King signaled further rate cuts by the bank, saying the slowdown would bring inflation down to the 2% target, with risks that the downturn could be worse. "This is the time not to abandon but to reinforce our commitment to stability," he said. "During the past month, the balance of risks to inflation in the medium term shifted decisively to the downside," he said, adding that the bank will continue to monitor inflation carefully.

Despite his gloomy assessment of the economy, King said progress can already be seen from the government's extraordinary decision to recapitalize the major banks. "With the bank recapitalization plan in place, we now face a long, slow haul to restore lending to the real economy, and hence growth of our economy, to more normal conditions," King said. "We are far from the end of the road back to stability, but the plan to recapitalize our banking system, both here and abroad, will I believe come to be seen as the moment in the banking crisis of the past year when we turned the corner," he said.

But he cautioned that the recapitalization plan is only a temporary fix, not a permanent solution. The freezing of interbank lending was only "the symptom of deeper structural problems in the banking sector," he said.
The sharp drop in oil prices will also support growth real incomes, he said.

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Op woensdag 22 oktober 2008 01:36 schreef HiZ het volgende:
Argentijnse regeringen hebben al decennia lang een buitengewoon talent voor het verder ruineren van de economie. Argentinie was ooit een van de rijkste landen ter wereld.

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Euro daalt onder de 1,28 dollar

TOKIO (AFN) - De euro is woensdag even onder de 1,28 dollar gedaald. Dat is het laagste niveau in ongeveer twee jaar. De Europese eenheidsmunt staat onder druk door zorgen over de afzwakkende Europese economie.

Handelaren denken dat de Europese Centrale Bank (ECB) binnenkort noodgedwongen de rente gaat verlagen om de economie te ondersteunen.

De munt bereikte een dieptepunt van 1,2774 dollar om daarna weer wat aan te trekken tot boven de 1,28 dollar. Bij sluiting van Wall Street dinsdag was de euro nog 1,3073 dollar waard. Tegenover de Japanse yen zakte de munt tot een stand van 127 yen, het laagste punt in meer dan vier jaar.

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Op woensdag 22 oktober 2008 10:12 schreef SeLang het volgende:

De euro is geen reet meer waard

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Op woensdag 22 oktober 2008 10:28 schreef Drugshond het volgende:
1,28 is nog steeds net voor of na de inflatiebubble. En ja in EU zijn we ook ' gone wild' gegaan door krediet erin te pompen. Ik heb bijna zoiets van het zelf wel..

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Op woensdag 22 oktober 2008 10:12 schreef SeLang het volgende:

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De euro is geen reet meer waard

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Op woensdag 22 oktober 2008 12:37 schreef Public_NME het volgende:

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De timing is ook perfect, net nu ik wil gaan reizen

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Wachovia posts loss of nearly $24 billion, including charges, far worse than expectations. More soon.

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Op woensdag 22 oktober 2008 13:13 schreef Public_NME het volgende:

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De financials gaan zeker klappen krijgen vandaag...

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Wachovia Reports 3rd Quarter Loss of $4.8 Billion Excluding $18.7 Billion of Noncash Goodwill Impairment and $414 Million Net Merger-Related Expense; Results Reflect Pre-tax $4.8 Billion Credit Reserve Build

Wells Fargo Merger on Track For 4th Quarter 2008 Close
Businesses Remain Well Positioned and Committed to Serving Customers


CHARLOTTE, N.C., Oct. 22 /PRNewswire-FirstCall/ --

Third Quarter 2008 Compared With Third Quarter 2007:

-- Net loss of $23.9 billion includes the following on a pre-tax basis:
$18.8 billion of goodwill impairment; $4.8 billion credit reserve build
to a 3.24 percent reserve-to-loan ratio; $2.5 billion of market
disruption losses including $1.2 billion of securities impairments;
$310 million principal investing loss

-- Results also reflect costs relating to previous announcements on the
auction rate securities settlement, support of Evergreen money market
fund exposure to Lehman Brothers and losses on government sponsored
entity preferred stock, amounting to $1.1 billion

-- Traditional businesses remained focused on customer service and sales
execution; customer satisfaction rating of 6.62 and customer loyalty at
51 percent remained at top of industry

-- Average core deposits up 4 percent on growth in retail CDs and retail
brokerage deposits

-- Way2Save campaign hits milestone 1.1 million accounts and $439 million
in new account balances

-- A.G. Edwards integration proceeding smoothly; integration over 50
percent complete

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Hongarije verhoogt rente met 3 procentpunt
Woensdag 22 Oktober 2008 13:16
AMSTERDAM (Dow Jones)--De Nationale Bank van Hongarije heet zijn basisrente op tweeweeksleningen voor commerciele banken verhoogd met 300 basispunten tot 11,5%, van 8,5%.

Dat heeft de monetaire commissie van de centrale bank woensdag tijdens een bijzondere vergadering besloten.

De stap komt als een verrassing voor de markt, die voor de rest van het jaar een onveranderde rente verwachtte.

De Hongaarse markten staan de laatste twee weken onder zware druk. Beleggers maken zich zorgen over de tekorten van het land op de begroting en de handelsbalans, de grote staatsschuld en het financiele systeem.

Centrale bankier Andras Simor zegt woensdag dat de economische en financiele situatie van Hongarije geenszins kan worden vergeleken met die van IJsland.

Simor zei verder dat Hongarije niet van plan is om gebruik te maken van een krediet van EUR5 miljard dat is aangeboden door de Europese Centrale Bank, 'behalve als de hel losbreekt.'

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Op woensdag 22 oktober 2008 13:13 schreef Public_NME het volgende:
De financials gaan zeker klappen krijgen vandaag...

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Op woensdag 22 oktober 2008 13:36 schreef Bolkesteijn het volgende:

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24 miljard verlies.

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The banking company Wachovia (WB, Fortune 500) reported an unexpected loss of $11.18 per share for the third quarter. That was dramatically worse than the 2 cents per share net profit projected by a consensus of analysts from Thomson FirstCall. Wachovia shares fell 4% in premarket trading.

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Staat houdt bonussen Fortis tegen

Bonussen voor managers bij Fortis
die zijn toegekend na de gedeeltelijke
overname door de Nederlandse staat,
worden niet uitgekeerd.Dat heeft het
ministerie van Financiën besloten.

Vandaag werd bekend dat Fortis-managers
bonussen in het vooruitzicht zijn
gesteld,maar daar steekt Financiën nu
een stokje voor.

Met het uitkeringsbeleid uit de periode
vóór de overname bemoeit het ministerie
zich niet.