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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Boca_PETE who wrote (3726)	3/16/2008 8:57:46 PM
From: Investor2	Respond to of 10065

Yes, that's huge news! "JPMorgan Acts to Buy Ailing Bear Stearns at Huge Discount By ANDREW ROSS SORKIN and LANDON THOMAS Jr. Published: March 16, 2008 Bear Stearns, pushed to the brink of bankruptcy by what amounted to a run on the bank, agreed late Sunday to sell itself to JPMorgan Chase for a mere $2 a share, narrowly averting a collapse that threatened to cascade through the financial system. The price represents a startling 93 percent discount to Bear Stearns’ closing stock price on Friday on the New York Stock Exchange. Bankers and policy makers raced to complete the deal before financial markets in Asia opened on Monday, as fears grew that the financial panic could spread if Bear Stearns failed to find a buyer." nytimes.com The stock sold for $2/share. Interesting! At $30/share, Yahoo listed the Price/Book at 0.68, meaning the book value was listed at $44 per share. Shows what kind of games management can play with numbers such as book value. Best wishes, I2

To: Boca_PETE who wrote (3726)	3/16/2008 9:02:41 PM
From: Boca_PETE	Read Replies (1) \| Respond to of 10065

TOP MUTUAL FUND HOLDERS of BEAR STEARNS finance.yahoo.com --------------------------------------- Holder Shares / % Out / Value / Date Reported VANGUARD/WINDSOR II 8,358,352 7.08 $949,508,787 31-Oct-07 PUTNAM FUND FOR GROWTH AND INCOME 2,350,605 1.99 $267,028,728 31-Oct-07 LEGG MASON VALUE TRUST 1,600,000 1.35 $196,496,000 30-Sep-07 JANUS TWENTY FUND 1,496,429 1.27 $132,059,859 31-Dec-07 VANGUARD 500 INDEX FUND 1,100,046 .93 $135,096,649 30-Sep-07 PUTNAM VOYAGER FUND 965,300 .82 $109,658,080 31-Oct-07 American Beacon Large Cap Value Fd 862,450 .73 $97,974,320 31-Oct-07 PUTNAM INVESTORS FUND 742,700 .63 $84,370,720 31-Oct-07 VANGUARD TOTAL STOCK MARKET INDEX FUND 702,594 .59 $86,285,569 30-Sep-07 COLLEGE RETIREMENT EQUITIES FUND-STOCK ACCOUNT 696,560 .59 $85,544,533 30-Sep-07 ----------- It would be interesting to know if VANGUARD Windsor II managers disposed of the fund holding in Bear Stearn subsequent to the October 31, 2007 reporting date. If they did not, it's a testiment to poor management of that particular fund. Here's hoping holdings of readers of this post are not materialially impacted by the Bear Stearns implosion. P