Bear Trap, part II
I mentioned earlier the "anonymous" book Bear Trap. A few additional details have come to light, and they are worth sharing:...
Gartman: The Reign of Thain Has Been Anything But Plain
Dennis Gartman pulls even more John Thain Merrill quotes — and makes it apparent that Mr. Thain is a slickster too clever by half:...
Bank CEOs: I Said WHAT ?
Via Portfolio, comes this list of great CEOs quotes: 1. John Thain, Merrill Lynch "We’re very confident that we have the...
Rinse. Lather. Repeat.
A brief review of recent Merrill CEO statements: 1. We don’t need capital; 2. We could use some capital, but we won’t sell...
Merrill’s $5.7B Write-Down, $8.5B Share Issuance
I’m on an earlier than usual train home today, to take the missus out to dinner (she just flew back into NY today). Change at...
Even More Writedowns Coming
Yes, we’ve turned the corner, out of the woods, always darkest before the dawn. What — whats that you say? More writedowns?...
BankAtlantic DESERVES to Go Belly Up
Suing an analyst over a report is akin to blaming the shorts for your stock price: It is a waste of time and corporate resources, a huge...
Joe Nocera: The Shorts Ate My Company
I’ve been meaning to mention this — and Paul reminded me this morn — but NYT columnist Joe Nocera is now blogging....
Blind Denial About Running a Good Business
Some people are discussing these financial issues as if they were a random black swan event. But that’s incorrect; these events are...