Michael J. Burry, who ran hedge fund Scion Capital from 2000 until 2008, writes that while former Federal Reserve Chairman Alan Greenspan argues that “everybody missed” the housing bubble, that’s not how he remembers it. “Back in 2005 and 2006, I argued as forcefully as I could, in letters to clients of my investment firm, Scion Capital, that the mortgage market would melt down in the second half of 2007, causing substantial hurt to the economy,” Burry writes.more at http://www.nytimes.com/2010/04/04/opinion/04burry.html
Posts Tagged ‘Second Half’
Mortgage meltdown wasn’t a surprise to everyone
April 4th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Alan Greenspan, Burry, Capital Mortgage, Chairman Alan Greenspan, Economy, Federal Reserve, Federal Reserve Chairman, Federal Reserve Chairman Alan Greenspan, Former Federal Reserve Chairman Alan Greenspan, Housing Bubble, Investment Firm, Mortgage Market, Mortgage Meltdown, Scion, Scion Capital, Second Half, Substantial Damage, Surprise 
Comments OffJPMorgan ranked top of hedge fund list
March 9th, 2010 Before You Invest JPMorgan was the richest hedge fund manager working in the industry at the close of 2009, a new report has shown.Figures from Pensions & Investment revealed that the financial services provider managed a total of $53.5 billion of hedge fund assets.By the end of 2009, JPMorgan Asset Management had $32.5 billion in assets while Highbridge Capital Management looked after $21 billion worth of funds.The total was 18.9 per cent higher than the figure in its portfolio at the end of 2007, the survey revealed.Bridgewate Associates was ranked second in the list with $43.6 billion while third placed Paulson & Co managed $32 billion.Further findings from the study revealed that the total assets managed by the 11 companies quizzed stood at $316.2 billion, nearly the same as the $316 billion in assets seen across portfolios at the end of 2007.Alex Ehrlich, head of Morgan Stanley’s prime brokerage business, recently told the Reuters Private Equity and Hedge Funds Summit in New York that the number of hedge funds being launched is on the rise.“We are seeing very, very strong hedge fund formation right now. The number of launches we are seeing are five times stronger than what we saw last year.”Meanwhile, a survey by Hedge Fund Intelligence revealed that global assets for the industry reached $1.82 trillion during the second half of 2009.
Posted in Finance Fraud Tags: Alex, Amp, Asset Management, Brokerage Business, Capital Management, Ehrlich, Financial Services Provider, Fund Assets, Global Assets, Hedge Fund Manager, Hedge Funds, Launches, Morgan Stanley, Pensions, Portfolios, Prime Brokerage, Private Equity, Reuters, Second Half, Trillion Comments OffInland Western and Inland American REIT In Trouble
November 3rd, 2009 Before You Invest With $1.4 billion of debt maturing in the second half of 2009, observers expected Inland Western Retail Real Estate Trust to cut its dividend to conserve cash to help refinance this debt. This nonlisted REIT had been paying an annualized dividend of $0.64 per share which translates to a 6.4% yield based on the price ($10) at which the company sold shares in its public offerings.
Posted in Finance Fraud Tags: April, Buyback Program, Dividend Rate, Extent, Investors, Nbsp, Observers, Public Offerings, Real Estate Trust, Recourse, Redemptions, Reit, Retail Real Estate, Second Half, Shareholders, Shares 1 Comment »Number of short positions on Nasdaq, NYSE drops
August 13th, 2009 Before You Invest During the second half of July, the New York Stock Exchange saw a 10.27% decline in the number of small-selling positions that were not closed out. Meanwhile, the Nasdaq Stock Market saw small interest fall more than 5%. “It’s surprising to see such a huge drop in small interest when the market is rising,” said Eric Newman, a portfolio manager at TFS Capital.more at http://online.wsj.com/article/SB125004186718724677.html
