Tuesday links: dividend destruction

27Jan09

2009 has already been a bad year for global equity markets and it’s not even 1/12th over.  (Bespoke)

Piggybacking on the TARP has not been a profitable strategy to-date.  (Alea)

Dividend cuts are coming fast and furious.  (Clusterstock, 24/7 Wall St.)

The CDS-bond basis trade illustrated.  (Market Movers)

West Texas Intermediate is at risk of losing its crude oil benchmark status.  (FT.com)

Comparing three ways to play oil prices via an ETF/ETN.  (market folly)

“The Direxion ETFs as a whole have been an instant hit.”  (IndexUniverse.com)

What stock factor was the most predictive over a twenty year time period?  (World Beta)

Do you think mortgages backed securities are cheap?  A couple of actively managed ETFs are on the way.  (WSJ.com)

“Now, more than 70% of the junk market is trading at distressed levels.  That means more than 10 percentage points higher than Treasurys.”  (WSJ.com)

John Paulson can apparently “do no wrong.”  (FINalternatives.com also DealBook)

Is the need for hedge fund registration already moot?  (FT Alphaville)

The new Claymore/NYSE Arca Airline ETF (FAA) is for traders only.  (TheStreet.com)

It can’t be good when Krispy Kreme and Starbucks (SBUX) are mentioned in the same breath.  (TheDeal.com)

A long-term bet against MBIA (MBI) pays off.  (Dealbreaker)

In defense of Peter Schiff.  (Clusterstock, Top Gun Financial)

Cyclical stocks need to perk up before you get optimistic about the broad economy.  (Crossing Wall Street)

Rising Treasury yields have a silver lining. A steeper yield curve should allow banks to earn a spread and encourage them to lend.”  (WSJ.com)

“Who needs the US government to create a new “bad bank” when it’s got Bank of America (BAC)?”  (breakingviews.com)

When confronted by a banking crisis Sweden did more than just nationalize its banks.  (Baseline Scenario also Clusterstock)

The layoff/employment picture is grim.  (NYTimes.com, MarketBeat, Digital Daily, BusinessWeek.com)

No good news on either the house price or consumer confidence front.  (Calculated Risk, EconomPic Data)

Is the rise in the personal savings rate a “secular trend”?  (macroblog)

Netbooks are nothing but “cheap PCs.”  (GigaOm.com)

(C)utting calories actually improves memory in older folks. ”  (SciAm.com also BBC.co.uk)

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