February 2009 Blog Posts (6)

Dirty War Over Wilshire Enterprises

The battle over Wilshire Enterprises between Phil Goldstein's Bulldog Investors and Wilshire's (WOC) CEO Sherry Wilzig Izak is gradually growing into a full scale war, if not a jihad. Among a string of litigation, the shareholder meeting was postponed from this week to March 24th, giving management crucial time to beef up their defenses that ultimately will be futile. We have previously… Continue

Added by Thomas Kirchner on February 25, 2009 at 10:13pm — No Comments

The State Of The Hedge Fund World

Rosy forecasts were in short supply at the first annual Wharton Hedge Fund Conference. The shock of last year's worst-ever performance still reverberates through the industry. Career plans of students at Wharton are the best indication we have seen to date of how bad things have become for hedgies: one Wharton professor reports that last year, two thirds of his… Continue

Added by Thomas Kirchner on February 24, 2009 at 10:02am — No Comments

Société Générale's Jérôme Kerviel First Interview About EUR 4.9 bn Trading Losses

Interview with Jerome Kerviel on TF1

We have been eager for a long time to hear the other side of last year's mega losses at Société Générale (SCGLF), where a lone trader allegedly gambled away EUR 4.9 billion without anyone realizing it. Having worked at a French bank for a while ourselves, we have always felt that Kerviel's losses were possible only due to the… Continue

Added by Thomas Kirchner on February 21, 2009 at 12:11pm — No Comments

Mark Fisher: Keep It Simple, Stupid

Mark Fisher, inventor of the technical trading method ACD, sees this market as a pure trading market in which analysis does not matter. This was probably not what some of Wharton's students attending its first annual Wharton Hedge Fund Conference wanted to hear. After all, they have committed to spending a six figure amount on learning how to perform just that analysis. Fisher probably depressed also Wharton's… Continue

Added by Thomas Kirchner on February 21, 2009 at 12:00pm — No Comments

Tip For Roche: Pay For Genentech with Non-Cash CVRs

genentech logo In an unhappy reminder of January 2008, deals continue to collapse or see reductions in price. After the trouble at Rohm & Haas (ROH), the acquisition of Genentech (DNA) by Roche is another large deal officially on the list of downward revisions in price. On Friday,… Continue

Added by Thomas Kirchner on February 10, 2009 at 6:12pm — No Comments

Roger's Corner: Hey Paulson: What Were You Thinking?

President Barack Obama and his new administration have had a busy fortnight. Not only has he been focused on getting his team up and running to handle the challenges of the economy, healthcare, infrastructure, terrorism and foreign policy, he apparently now has an additional responsibility left over from the previous administration: Chairman of the Board. We can thank the former Treasury Secretary, Hank Paulson, for giving the President of the United… Continue

Added by M&A Advisor Info on February 9, 2009 at 1:40pm — No Comments

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