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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (1610)	12/7/2006 6:25:38 PM
From: Bill Wexler	Read Replies (3) \| Respond to of 6370

<<<soft landing ahead>>> Bwahahahahaha hahaha hahahaha ha heh.

To: RockyBalboa who wrote (1610)	12/8/2006 7:33:50 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

Hmm... 6:56AM New Century REIT announces that Nov 2006 total mortgage loan production was $4.5 bln, an 11.8% decline YoY (NEW) 35.71 : Co announces that Nov 2006 total mortgage loan production was $4.5 bln, representing a 11.8% decline compared with Nov 2005 and a 10.0% decline compared with October 2006. Additionally, the weighted average coupon for the co's non-prime loan production was 8.3 percent in November 2006. "The decline in our loan production volume in November was in line with our expectations, particularly in light of overall mortgage market declines this quarter."

To: RockyBalboa who wrote (1610)	12/13/2006 4:05:07 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 6370

Here is an interesting tidbit, the SEC finally recognises the excess burden of SOX on small companies. This is good news and could dramatically improve the performance of small caps again. This comes at a time when small caps were not really in favor of the investing public: SEC Easing Key Control Rules for Firms Wednesday December 13, 1:21 am ET By Marcy Gordon, AP Business Writer SEC Easing Key Control Rules for Companies; Tightening Hedge Fund Entrance WASHINGTON (AP) -- Federal securities regulators are moving to ease some financial-control rules for thousands of smaller public companies at the same time they look to stiffen requirements for individuals to invest in fast-growing hedge funds. In proposed rule changes under a landmark 2002 anti-fraud law, the Securities and Exchange Commission is acting in response to business complaints that a key requirement of the law enacted after the wave of corporate scandals is overly burdensome and costly. SEC Chairman Christopher Cox and the other four commissioners were tentatively adopting the revisions at a public meeting on Wednesday. The changes, based on principles of sound accounting, are meant to make application of the rules "accessible," easily understood and "relatively easy to apply," Cox told reporters in a briefing on Tuesday. "What we're trying to do is intensely focus this exercise on what really matters," he said. The changes would especially benefit smaller companies. Smaller businesses have complained most vocally to the SEC about the costs of complying with Section 404 of the Sarbanes-Oxley law, which requires companies to file reports on the strength of their internal financial controls and to fix any problems. At the same time, addressing the rising incidence of fraud in the burgeoning hedge fund industry, the SEC is proposing to raise the minimum financial requirements for individuals wanting to invest in the high-risk pools. Under current rules, an individual must have at least $1 million in net worth or annual income of $200,000 to qualify. Added to that would be an additional requirement for at least $2.5 million in investments, excluding a personal residence. The SEC also is proposing a new anti-fraud rule for hedge funds. The agency was thwarted by a federal appeals court last spring in its effort to bring hedge funds under its supervision. The narrower changes being put forward are not expected to be open to legal challenge. U.S. hedge funds, now numbering more than 9,000 with assets estimated to exceed $1 trillion, traditionally catered to the rich, as well as pension funds and university endowments, but are increasingly luring less wealthy investors. The funds operate with minimal government supervision. The rise in fraud -- more than 60 cases brought by the SEC since 2001 charging hedge fund managers with defrauding investors of more than $1 billion -- has hurt Main Street investors. In addition, the SEC is allowing companies to provide to shareholders electronically the annual material on issues being put to a vote at annual meetings. Some business and labor groups have voiced concern about the plan, which is expected to save U.S. corporations some $500 million a year or more in printing and postage costs. The proposed revisions to the financial control rules take into account the size and complexity of companies, Cox and other officials said. They provide for "a considerable amount of flexibility," said Conrad Hewitt, the SEC's chief accountant. Hewitt said Monday that for companies with between $75 million and $700 million in market values, reduced requirements for testing internal controls and providing documentation are being proposed. Securities and Exchange Commission: sec.gov

To: RockyBalboa who wrote (1610)	5/20/2007 6:46:01 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

Last I checked the treasury prices and the 30y is now under 110. After the subprime story broke in December, the same contract commanded 114.5 and above. Since then the yields try a flag breakout supported by strong European yields and two consolidations (one of them end of February when the subrime story culminated in the killing NFI and NEW) completed. The picture is not pretty and the contract is red the last 7 trading sessions. On the other hand, spreads are super-tight and priced for perfection. Perhaps this warrants a texas hedge? Short the treasury and short the spreads...,and on any corporate hiccup cover and buy treasuries regardless of price? Per the text book, the merger friendly situation and resulting immense capital needs are a detriment to corporate spreads. It will take some time until rating agencies also give up their "accomodative" rating policy. For now they appear to be immune to any corporate actions. There is one more trade which is still unbroken and no catalyst is in sight - the Yen carry trade. It appears to create billions out of nothing at nearly zero interest rates. This is the last man standing in the interest rate world.