Uncategorized
Manhattan mega foreclosure tops record
The largest foreclosure in U.S. history has been reported by Bloomberg… A Second, Even Bigger Foreclosure Reaches NYC Billionaires’ Row describes a $35 million loan made by Banque Havilland SA secured by a full floor apartment at One57, the one of the tallest residential buildings in New York City, located at 157 West 57th Street… […]
Has a belated bubble formed up north?
Canada missed the U.S. housing bubble of 2005 – 2007 because of tighter mortgage rules… As a result, Canadian housing sailed through the Financial Crisis… Subsequently, because of favorable demographics, including high immigration rates, Canadian housing has dramatically outperformed the U.S.… But markets adjust… Interesting essay by Ritholtz asset manager Ben Carlson entitled Canada’s Housing […]
Market left guessing by Beijing mandarins’ ‘systemic risk’ move
Chinese regulators have targeted three high-flying stocks as a “systemic risk”… The questions is whether this is a one-off disciplining of some now out-of-favor parties, or the start of a major new regulatory trend… The New York Times has the basics in its story Shares Plunge as China Voices Concern Over ‘Systemic Risks’ written by […]
When ‘Smart Beta’ gets crowded
Man Bites Dog… Burton Malkiel, the Princeton professor whose classic book “A Random Walk Down Wall Street” presaged in 1973 indexing as an improvement over active stock investing, has now embraced Smart Beta… James B. Stewart’s New York Times article, An Index-Fund Evangelist Is Straying From His Gospel, sets forth his case… One giant issue remains… It’s […]
How car loans are different in a foreclosure
Most (but not all) states in the United States have some combination of “anti-deficiency laws” or “non-judicial foreclosure” proceedings, which prevent a bank or other lender from getting a deficiency judgment against a homeowner who has been foreclosed on… These rules prevent the lender from continuing to seek principal, interest, fees and expenses after the […]
On Argentine long bond, question is not if, but when?
Argentina has re-entered the global bond market with a bang, $2.75 billion of a 100 year bond… The 7.125s of 2117 were issued at 90c to yield 7.917%… 100 year issues are rare, even rarer when rated B3… Argentina has been in default during 38% of its 200 year history, so this bond is almost […]
Liquidity, Market Liquidity, and Accounting Liquidity
In a general economic sense, liquidity refers to how easily an asset can be bought or sold without an effect on the asset’s price. Cash is considered to be highly liquid since it can almost always be exchanged for goods and services. Other valuable items may be less liquid, or illiquid. For instance a rare […]
Posted in Uncategorized
Foreign Investment Soars in Wake of Brazilian Political Scandal
The bribery and corruption scandals surrounding Brazilian president Michel Temer have provided rich opportunities for foreign investment, according to a recent Bloomberg report. Between May 19 and 25, $760 million dollars flowed into Brazilian equities from global and regional funds, an amount unprecedented in the last five years. This followed a selloff in local markets […]
Posted in Uncategorized
Advisers Express Increased Interest in SRI, Bullish on US Equities
According to a new study by Eaton Vance, interest in socially responsible investing from financial advisers has nearly doubled since 2016, rising from 21 to 40 percent. More and more financial advisers are reporting that investing in companies with a perceived positive social impact is important to them and their clients. Eaton Vance releases an […]
Posted in Uncategorized
Recent Comments