Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (3436)	6/17/2001 8:35:22 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 3543

And here's how it ends, is it blasphemy? >>>>>>> Finance: More IPO Ire By Megan Barnett Trouble continues to mount for Credit Suisse First Boston: A trustee on behalf of Mortgage.com filed a class-action complaint against the investment bank last week. The online lender, which went public in August 1999 and filed for bankruptcy this year, alleges that lead underwriter CSFB underpriced shares and was "unjustly enriched" by kickbacks it received in exchange for the shares. CSFB, along with several other investment banks, is being investigated by the SEC, NASD and U.S. Attorney for its IPO-allocation practices during the Internet stock boom of recent years. More than a dozen class-action suits have been filed on behalf of shareholders, but this is the first case brought by a firm that sold stock in an initial public offering. A CSFB representative says the firm believes the allegations have no merit. Evidence in Credit Suisse's favor: Instead of popping on its opening trade, Mortgage.com shares lost about 10 percent opening day. And in looking at what's left of Mortgage.com - the firm exists as a shell company called MDCM Holdings with about $25 million in unpaid bills - it will be hard to argue that its $358 million IPO market cap was in fact too low. .... biz.yahoo.com never seen such arrogant bozos...

To: Sir Auric Goldfinger who wrote (3436)	6/17/2001 8:39:29 PM
From: RockyBalboa	Respond to of 3543

Bankrupt bond returns surge in May - Moody's NEW YORK, June 13 (Reuters) - Moody's Bankrupt Bond Index, which tracks $39.3 billion of bonds of companies that have filed for bankruptcy protection, surged 13.9 percent in May, the credit rating agency said on Wednesday. The gains pushed the index into positive territory for the first time this year, with a year-to-date return of 10 percent. ``I don't think we're at the bottom, but I think a bottom is within sight within the year,'' said David Hamilton, Moody's head of default research. Indeed, Moody's earlier this week said it expects junk bond defaults to continue rising this year and peak at 10.1 percent in January and February of next year. The bankrupt bond index, which includes most actively traded bankrupt bonds, has grown by 130 percent over the past year, Hamilton said. It stood at about $17 billion a year ago. Moody's said much of May's strong performance was linked to gains in bonds of Finova Capital Corp., whose parent Finova Group Inc. (NYSE:FNV - news) filed for bankruptcy protection in March. Finova's bonds rose on reports that Berkadia LLC, a joint venture between Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRKa - news) and Leucadia National Corp. (NYSE:LUK - news), was preparing to sweeten terms for Finova creditors on its proposed bailout of the consumer finance company. Surprisingly, bonds in the embattled telecommunications sector were among May's gainers. Bonds of Winstar Communications Inc., e.spire Communications Inc. (Nasdaq:ESPI - news) and ICG Communications Inc. unit ICG Holdings Inc. all rose in May, Moody's said. Strategists said distressed telecom bonds overall were mostly unchanged in May and the improvement was likely company-specific. Overall, the ratio of advancing bankrupt bonds relative to declining ones was noticeably higher in May, Moody's said. Ninety-two bonds gained in price, compared with only 26 posting losses. biz.yahoo.com

To: Sir Auric Goldfinger who wrote (3436)	7/10/2001 11:09:52 PM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 3543

And the insiders are bailing like there's no tomorrow... Message 16056973 KJC

To: Sir Auric Goldfinger who wrote (3436)	7/29/2001 12:41:08 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 3543

A new target for the US dollar? 1:1 with the Euro in 2001? What do you think? Saturday July 28, 3:17 pm Eastern Time Fund Managers Down on U.S., Eyeing Europe By Svea Herbst-Bayliss NEW YORK (Reuters) - U.S. fund managers trimmed holdings of U.S. assets and put more money into Europe as hopes for a speedy U.S. recovery gave way to worries the world's biggest economy may languish for months to come. ``We have been underweight the U.S. for some time. While this doesn't mean we think the U.S. is going to go down and everything else is going to go up, we have been in a global bear market and that means you have to be diversified,'' said Leila Heckman, managing director at Salomon Smith Barney. Soft earnings have pummeled America's main stock indexes all year. This month's flurry of profit warnings prompted managers to adjust their portfolios again, even as they hoped the Federal Reserve's aggressive rate-cut campaign will eventually reignite the economy boost corporate bottom lines. ``For the balance of the year the opportunities are going to be in the United States,'' said Jeffrey Palma, a member of the asset allocation team at UBS Warburg. ``If we see signs of an economic turnaround, the equity markets will react accordingly and there could be a really nice rally here, at some point in the future,'' he added. DOWNSHIFT But in July there was a marked shift in sentiment from the previous month when managers poured funds into U.S. stocks and bonds. A Reuters poll of 14 U.S. asset allocators that included industry heavyweights like UBS Warburg, Deutsche Asset Management and Zurich Scudder Investments, shows managers trimmed their allocations to U.S. equities to 47 percent in July from 48 percent in June. However, July's allocation tops a 45 percent allocation in May. ``We thought the U.S. would have reached a plateau by now after the Fed's interest rate cuts. But the markets are still performing dismally. Europe just offers better value because it has just been so undervalued for so long,'' said a manager at a Wall Street firm who asked to remain anonymous. MALAISE MOVES The malaise also infected fixed-income markets and the poll, which was conducted between July 18 and June 23 and released on Thursday, shows that managers cut their holdings of U.S. Treasuries. They reduced their allocation to 40 percent from 47 percent and put more money into German bonds in July. Treasuries had been supported by hopes of more Fed rate cuts that would help pump up consumer spending. But some managers fled the market because they worried America's massive current account deficit may soon make the dollar vulnerable. For months the dollar had marched higher against the euro and yen but this week the greenback extended a three-week fall, hurt by concerns the once booming U.S. economy may recover only slowly. ``One of the biggest themes driving us out of the United States and into Europe, and in our case even into Sweden, is that investors are turning negative on the U.S. dollar,'' said Jack McIntyre, fixed income manager at Brandywine Asset Management. Managers also said European bonds may get more lift in the months ahead because the European Central Bank is still lagging the Fed in its rate cut cycle, suggesting to analysts there is still more room for the Frankfurt-based bankers to cut. Even though Fed Chairman Alan Greenspan has left open the door for more interest rates cuts in the months ahead, the U.S. central bank is seen nearing the end of its rate cutting cycle which began in January. The ECB began easing rates about a year ago but has proceeded at a much slower pace. ''We want the ECB to be more aggressive in cutting rates and I think they will continue to move and that should help the euro,'' McIntire continued. AT HOME Meanwhile, managers who allocate only among U.S. fixed income securities also shifted out of Treasuries, reducing their holdings to 19 percent in July from 25 percent in June. Mortgage-backed securities benefited most with managers raising their holdings to 29 percent in July from 20 percent in June. At the same time they trimmed their exposure to corporate bonds to 34 percent in July from 39 percent the month before. The shift occurred as managers felt mortgage-backed securities were much safer than many corporate bonds.