| Thu, Dec 04, 2008 |
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Best Performing Stocks Of The Past Quarter
Back in early October I wrote in (Oct 1: Nowhere to Run, Nowhere to Hide) how there simply was no asset class (ex US Treasuries and US Dollar), no sector, no country to hide in. Everything stunk, and in fact it got worse in the ensuing weeks. September, October, November 2008 might be the worst 3 months ever (I don't have the date) but if not, it has to be in the top 3. We used to run a weekly screen here to identify areas of relative strength - it's been useless for months on end. But for curiousity sake I ran it to see the best performers over the past quarter. Criteria Market capitalization $1.50B+ Average trading volume 100K+Stock price $10+Return this [More...] |
| Mon, Nov 24, 2008 |
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Weekly Mergers and Acquisitions Report (11-17-08 to 11-21-2008)
NDS Group plc (NNDS) - News Corporation (NWS) : The European Commission officially started its review of this transaction yesterday, November 20. The EC has established a provisional review deadline of January 6, 2009 for this case (M.5274). [More...] |
| Tue, Oct 21, 2008 |
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Weekly Mergers and Acquisitions Report
Anheuser-Busch Cos. (BUD) - InBev, $Datascope Corp. (DSCP) - Getinge AB, Secure Computing Corporation (SCUR) - McAfee, Inc. (MFE), Barr Pharmaceuticals (BRL) - Teva Pharmaceutical (TEVA), NDS Group plc (NNDS) - News Corporation (NWS) [More...] |
| Mon, Oct 13, 2008 |
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What the Smartest Money is Doing Now
The market continues to slide. It seems like the whole world is running to safety.
Three month T-bills yield 0.18%. Retail mutual fund holders are pulling out money at a record pace. Mutual funds experienced a net outflow of $23 billion in July and $6 billion in August. Investor continued to cash up in September as [...]
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Wall Street Pit
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| Thu, Aug 14, 2008 |
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Don’t Overpay for Insurance M&A
I’ve been mulling over whether I should write about insurance M&A. Ugh, yes, I should say something. What pushed me over the edge was a piecein the WSJ on the purchase of Philadelphia Consolidated. When I first heard about the deal, I blinked, and said, “Foreign acquirer overpays to enter the US.” Is Philly a good company? It’s a great company, but it may not be so under foreign ownership. And, the price was well in excess of what it would have taken to create/attract the talent for a new venture. Paying 2.7x book is not a winner.But, the have been other missteps as well recently. Liberty Mutual buys Safeco and Ohio Casualty for 1.8x and 1.6x book. High prices for the assets obtained, and Liberty Mutual can’t lever that much as a mutual [More...] |
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