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Through a Hedge Backwards: November 2008
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Tuesday, 18 November 2008. TARP: Slush fund . banana republic . Keystone Kops. CNBC Tuesday November 18, 10:22 am ET. That's how some observers are describing the government's effort to stabilize the financial system, including its centerpiece rescue mechanism, known as the TARP. It's a little like the Keystone Kops," Girard added. "They're very reactive and it's very ad hoc and I think that undermines confidence ...
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Through a Hedge Backwards: May 2008
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Saturday, 31 May 2008. Published: May 30 2008 19:24 Last updated: May 30 2008 19:24. Out of this collision of ideas, a new game was born: bankers began to use subprime loans to create these bundles of loan default risk, now called collateralised debt obligations (CDOs) on an explosively large scale. 8220;It is all about the herd instinct. People do stupid things in search of yield when interest rates are so low wi...
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Through a Hedge Backwards: December 2008
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Monday, 29 December 2008. Lehman Brothers R.I.P. - Three days that shook the world. Http:/ money.cnn.com/2008/12/12/magazines/fortune/3days full.fortune/index.htm? Exactly three months ago, the collapse of Lehman triggered a global financial panic. Fortune examines what happened in the 72 hours when the world's most powerful bankers met to try to save Lehman and wound up changing the face of Wall Street forever. Credi...
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Through a Hedge Backwards: April 2009
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Thursday, 30 April 2009. Advisers Ditch 'Buy and Hold' For New Tactics. From the Wall Street Journal. Http:/ online.wsj.com/article/SB124096109870565775.html. Jeff Seymour, an adviser based in Cary, N.C., used to counsel clients to buy a diverse menu of stocks, bonds and commodities, and hold on for the long run. But early last year, he says, he recognized that "the macro-economic climate has changed. To be sure, most...
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Through a Hedge Backwards: May 2009
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Tuesday, 19 May 2009. Will special drawing rights supplant the dollar? Original article at http:/ www.voxeu.org/index.php? Owen F. Humpage, 8 May 2009. Devil in the detail. Adopting the SDR as a reserve asset is technically feasible, but it will not reduce the dollar’s role any time soon. If anything, the euro is likely to challenge the dollar’s pre-eminence. In the interim, countries that want to limit their exposure...
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Through a Hedge Backwards: March 2009
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Tuesday, 24 March 2009. Fired Doctor of Derivatives Waits to Cry as Finance Jobs Vanish. By Lisa Kassenaar and Stephanie Baker. Http:/ www.bloomberg.com/apps/news? 8220;Merrill Lynch left us on the streets,” says Nita, 39, who now nurses a chronic headache. “I’m just so angry and scared. What the hell is going to happen to us? And Merrill Lynch and Co. 40, the former head of Morgan Stanley. Public ire tends to be focu...
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Through a Hedge Backwards: April 2008
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Friday, 18 April 2008. Exactly how does a bank, such as UBS, conjure up losses larger than the gross domestic product of many countries? Super-senior losses just a misplaced bet on carry trade. From the Financial Times. Published: April 18 2008. Hopefully, a full answer will emerge soon, since the largest investment banks are engaged in their own forensic research (and UBS is poised to submit detailed reports to its r...
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Through a Hedge Backwards: February 2008
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Thursday, 21 February 2008. America’s economy risks mother of all meltdowns. Taken from the Financial Times, February 19, 2008. Published: February 19 2008 18:21 Last updated: February 19 2008 18:21. That used to be Mr Greenspan’s view of the US housing bubble. He was wrong, alas. So how bad might this downturn get? Step one is the worst housing recession in US history. House prices will, he says, fall by 20 to 30...
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Through a Hedge Backwards: June 2008
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Through a Hedge Backwards. Examines some of the wackier wheezes of financial engineers. Saturday, 28 June 2008. None of the banks ever predicted the sub-prime shock. Swiss look to leverage ratios in quest to go back to basics. Published: June 27 2008 03:00 Last updated: June 27 2008 03:00. In normal times, the gnomes of Zurich prefer to keep a low profile. In 2008, however, Switzerland shot into the global finance spotlight in a manner that is far from boring. The issue at stake revolves around whether a...
