Monday links: preferred pain

08Sep08

It’s weird to have these companies [Fannie and Freddie] still publicly traded. (DealBook)

There are a lot of losers in the Frannie debacle.  (NYTimes.com)

Credit default swaps are going to get triggered by the Frannie conservatorship.  (DealBook, Alea)

“So what will the world look like once Fannie and Freddie shuffle slowly off the stage?”  (Market Movers also WSJ.com)

“The downfall of Fannie and Freddie stems from a series of miscalculations and deferred decisions, both by their executives and government officials…”  (NYTimes.com)

Expect more bank failures due to the now more questionable value of their holdings in Fannie and Freddie preferred stock.  (CNNMoney.com, WSJ.com, FT Alphaville, Bronte Capital)

What Bill Gross wants, Bill Gross gets.  (Money & Co.)

“How do you “Equal-Weight” a wipe out?”  (Jeff Matthews)

What did the bottom fishers in Fannie and Freddie common think would happen?  (ClusterStock.com, WSJ.com, Joe Nocera)

20 percent down payments and why “The demise of the savings and loans produced the rise of Fannie Mae and Freddie Mac.”  (EconLog)

What happens after yet another weekend bailout?  (Big Picture)

(V)ery small numbers of extreme return days have a massive impact on long-term stock returns in emerging markets.”  (CXO Advisory Group)

Is the quest for alpha a religion?”  (All About Alpha)

“Having confidence in the long-term prospects of one’s method is the key to riding out the adverse swings.”  (Dash of Insight)

U.S. stocks aren’t as important as they used to be.”  (WSJ.com)

U.S. equity index yields lag the rest of the world.  (Capital Spectator)

Overconfident investors and those prone to sensation seeking trade the most.  (Journal of Finance)

Is Apple (AAPL) behaving (badly) just like Microsoft (MSFT) did ten years ago?  (Newsweek.com)

Is there really a “passing premium puzzle” to be solved?  (Zero Beta)

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