Wednesday links: subprime fallout

15Aug07

Gretchen Morgenson and Jenny Anderson at NYTimes.com on the impact of the subprime fallout on commercial paper and money market funds.

Paul Hebert at Morningstar.com on the effect of the subprime mess on bond mutual funds.

Are the credit agencies complicit or simply scapegoats in the subprime mortgage mess? (via WSJ.com)

Barry Ritholtz at the Big Picture draws an unwelcome (for the rating agencies) comparison to what happened to the equity analysts post-Internet bubble.

Zero Beta on the importance of “knowing what you own” when it comes to money market funds.

Accrued Interest writes “Our economy is dependent on credit.”

Has ‘nothing all that seriously happened’ in the financial markets? (via FT Alphaville)

Matthew Lynn at Bloomberg.com sees five reasons to welcome a “global credit crunch.”

Pricing debt securities in today’s market has become an exercise in ambiguity. (via FT Alphaville)

Felix Salmon to Jim Cramer, “Bonds are almost never worthless.” (via Market Movers)

Private equity firms are buying the debt of…private equity deals. (via WSJ.com)

The hedge fund boom must be over….WSJ.com runs an article on how to exit your hedge fund.

Greg Newton at NakedShorts with some much needed perspective on how the hedge fund redemption story could play out over the next six weeks.

Daniel Gross at Slate.com on “How to speak hedgie.”

Jeff Matthews has some questions for Goldman’s “cocky quants.”

Hedge fund fees marked down. Goldman waives fees helps elicit outside investors into their troubled hedge funds. (via Bloomberg.com)

The Financial Philosopher notes some eerie parallels between the quant meltdown in 1998 and 2007.

Alea on why it is important to generate your own investment ideas.

What do ten years of earnings tell us about the stock market’s valuation? (via Market Movers)

James Altucher at FT.com on why it might be the right time to start looking for a house and some beaten down stocks. (via TheStreet.com)

Brett Steenbarger at TraderFeed on what constitutes a “useful update to your forecast.”

Did the Dow Theory trigger a sell signal? (via Marketwatch.com)

Paul Kedrosky at Infectious Greed on “Why first day IPO pops are good for you.”

A boom market in (awkwardly named) private markets. (via DealBook & Information Arbitrage)

Municipal bond ETFs are looking like a pretty good idea these days. (via ETF Trends)

Talk about over-engineering. A closed-end fund with a built-in ETF conversion feature. (via IndexUniverse.com)

“On a long enough timeline the effectiveness of any dynastic control mechanism drops to zero.” – Equity Private’s Law of Dynastic Deterioration

All About Alpha on what really constitutes a hedge fund “failure.”

Do finance professors believe in market efficiency? (via CXO Advisory Group)

More on the ‘middle-aged man’ happiness crisis. (via BBC.com)

Nate DiMeo at Slate.com, “We live in the golden age of baseball statistics.”

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