Wednesday links: hedge fund scam

19Mar08

Bear Stearns (BSC) stock stubbornly trades above the $2 a share buyout price. (Market Movers, Big Picture, Interfluidity, WSJ.com, DealBook, DealZone)

The Visa (V) was a success for the underwriters, member banks and IPO investors alike…and could have some room to run. (MarketBeat, DealBook, CNNMoney.com, Bespoke Investment Group)

Bubbles lead to busts. Busts lead to panics. And panics can lead to long, deep economic downturns, which is why the Fed has been taking unprecedented actions to restore confidence.” (NYTimes.com)

Another measure of financial strain in the U.S. capital markets. (FT Alphaville)

Fannie and Freddie have their capital requirements loosened. (WSJ.com, Curious Capitalist, Market Movers)

Financial crises that lead to widespread debt defaults are nothing new. (Real Time Economics)

Are hedge funds a scam? (naked capitalism)

The hedge-fund party may be over in Asia.” (Deal Journal)

Eleven good reasons to be optimistic. (TheStreet.com)

A one-stop alternative asset mutual fund. Sounds somewhat like this fund. (IndexUniverse.com)

A stunning reversal in Bill Miller’s investment performance. (Crossing Wall Street)

Money market mutual fund assets have increased 20% in the past year. (FinancialWeek)

“Since ETNs sound like ETFs and work like many mutual funds, what’s the difference?” (MSN Money)

The ins and outs of trading deep-in-the-money calls. (Daily Options Report)

Deep out-of-the-money puts and calls on the S&P 500 seem to be overpriced. (CXO Advisory Group)

What will the activists do now that they are in the inside of the New York Times (NYT)? (Fortune.com)

Chew on this from Fischer Black: “Active monetary policies creates opportunities for speculators, but have no significant macroeconomic effects.” (Alea)

Dissent in the ranks at the Fed. (Capital Spectator, Aleph Blog)

The “Great Moderation” in volatility is over. (WSJ.com)

A social view of the current FOMC implies “..aggressive responses, with considerable volatility.” (Aleph Blog)

On the dangers of holding a great deal of your net worth in company stock. (Odd Numbers)

Bailout, not a bailout? (Econbrowser also tangentially DealBreaker.com)

Mortgage rates are finally back on the move downwards. (Bespoke Investment Group)

Months supply of housing continues to climb. (Calculated Risk)

Teams to hate in the NCAA basketball tournament. (Slate.com)

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