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Non-Tech : Bill Wexler's Trading Cabana
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To: Bill Wexler who wrote (2135)6/7/2007 6:38:12 PM
From: RockyBalboa  Read Replies (4) of 6370
 
Of course there is little indication that it is "done", as always the market can not be timed. But the idea is that much like 2000, private equity funds overbought again. They did not buy at private-equity alike valuations they bought in order to flip it in a couple of years. Listen, greater fools!

For example, Cerberus bought the BAWAG for nearly $4B; BAWAG is not earning significant cash flows. Lots of repair work is to be done before the fund will see a significant if any, investment return. They can not rely on capital markets to be open to place such company, indefinitely.

It is entirely possible that there is not difference in herd mentality and hubris beween fund managers and the general investor.

What might be different is access to the markets and risk management tools (perhaps not even skills).

Some catalysts would be fine - like a couple big mergers turning sour. Then people would start looking deeper.
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Here, risk management skills are also far from perfect. That what's left from my put portfolio is very slowly gaining value. On the other hand I thought perhaps a little bit of the money from stock sales goes to - treasuries? Wrong!

Not a dime went into treasuries. They fall too and they fall fast, in Europe and in the US. This is a new development and it can only mean tight money.

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