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Anyone have Bear Stearns shares in their portfolio?

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crivens200

Raver

Joined: Nov 05, 2007
Posts: 431

Status: Offline

Posted: Mar 17, 2008 - 02:08 PM
Post subject: Anyone have Bear Stearns shares in their portfolio?

Unlucky!

Bought by JPM for 1% of the banks value 2 weeks ago. I'd be gutted.

Adnimistrator

Rocker

Joined: July 20, 2007
Posts: 788

Status: Offline

Posted: Mar 17, 2008 - 02:33 PM

Just last week when started rumors about their cash problems their CEO was on CNBC saying "Oh thats ridiculous, we have so much liquidity !". Although I think almost nobody believes these CEO and similar shitclowns anyway and who did must be cured by now.

12 Mar 2008 | 10:12 AM ET
The chief executive of Bear Stearns
Bear Stearns Co Inc told CNBC that despite recent market volatility, he is not aware of any imminent threat to the Wall Street investment bank's liquidity....In an exclusive interview with CNBC's "Squawk On the Street," Alan Schwartz said he does not know where the rumors originated.
http://www.cnbc.com/id/23590249

Also today read in Shanghai Daily about the guy which bought 11 mil. shares at $107 last December, so from $1.177B down to just $22M

Also somoene MUST HAVE HAD insider info, because there were some $186M sell-off on friday with 50% fall, and most people believed the company will be saved, so whoever was selling it must have knwon something...
http://finance.yahoo.com/q/bc?s=BSC&t=1d&l=on&z=m&q=l&c=

kumlong

LoopKicker

Joined: Oct 18, 2007
Posts: 817

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Posted: Mar 17, 2008 - 02:55 PM

sell off on friday was because fed addedd usd200b liquidity which the mkt knew was as aid to bear. so start of middle last week mkt was semi anticpating something would happen to bear. unless you happen to be citic ...

Rais

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Joined: Nov 17, 2006
Posts: 298

Status: Offline

Posted: Mar 17, 2008 - 03:18 PM

kumlong wrote:

That's wierd. Only last week? There was news about the Bear mess up for a long time now.

kumlong

LoopKicker

Joined: Oct 18, 2007
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Posted: Mar 17, 2008 - 03:22 PM

Mess up yes. going bankrupt no

Rais

Reacher

Joined: Nov 17, 2006
Posts: 298

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Posted: Mar 17, 2008 - 04:13 PM

kumlong wrote:

Mess up yes. going bankrupt no

Not only that they had to write off allot due to the sub prime and all, but some things were just "not right" as you can see from their auditing report; point is, should have dumped damp long time ago.

underh20
Shanghai Royalty

Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar

Posted: Mar 17, 2008 - 06:03 PM

kumlong wrote:

Mess up yes. going bankrupt no

You'd have to be the King of Morons to think Bear Stearns would not going bankrupt.

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Last edited by underh20 on Mar 18, 2008 - 07:17 AM; edited 1 time in total

SnappySammy

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Posted: Mar 17, 2008 - 09:10 PM

You have no Idea. My Uncle was a major honcho at Bear Stearns for many many years. He died two years ago. I think I just died today,

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Me_Again

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Posted: Mar 17, 2008 - 11:44 PM

Bear Stearns today, some other "big investment bank" tomorrow.

Welcome to bank runs.

The sh^ts only beginning to hit the fan, things are unwinding fast and will get a whole lot worse. The Fed remind me of the electrician flicking circuit breakers back on the film Titanic when the ship was sinking, they can do what they like, it's still going to sink.

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jmg06shanghai
Reacher
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Joined: Feb 18, 2006
Posts: 204
Location: ...in a van down by the river...

Posted: Mar 18, 2008 - 02:14 AM

Alan Schwartz, Bear Stearns CEO wrote:

In an exclusive interview with CNBC's "Squawk On the Street," Alan Schwartz said he does not know where the rumors originated. http://www.cnbc.com/id/23590249

Jeez, maybe counterparties had a clue??? Just maybe, one of which obviously was JP. Once Jamie Dimon culls the Bear crap, buying Bear's stronger capabilities on major discount could be a major coup for JP.

As a CNBC reporter reported from in front of Bear's office during NY's St. Paddy's Day parade, the bagpipes in the background were just a tad bit symbolic. For Bear employees, many of those who left far too much in Bear shares will feel the pain much longer than a St. Paddy's Day hangover.

underh20
Shanghai Royalty

Joined: Sep 27, 2006
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Location: EOA Seminar

Posted: Mar 18, 2008 - 07:19 AM

jmg06shanghai wrote:

For Bear employees, many of those who left far too much in Bear shares will feel the pain much longer than a St. Paddy's Day hangover.

For those Bear employees who were responsible in large part for the whole mess of slicing and dicing crap mortgages into so-called AAA securitiies, they deserve to get FITA.

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kumlong

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Posted: Mar 18, 2008 - 09:01 AM

hi mate. dont mean to insult you but arent you talking on hindsight. to be fair, can you tell me whether lehman will be the next to go?

deeroo
Barker
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Joined: Nov 05, 2007
Posts: 175

Posted: Mar 18, 2008 - 10:24 AM

^ Yes.

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kumlong

LoopKicker

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Posted: Mar 18, 2008 - 11:35 AM

so why are sovereign funds still so adamant about investing in these houses？

tlm66

Talker

Joined: Oct 07, 2005
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Posted: Mar 18, 2008 - 01:20 PM

"hi mate. dont mean to insult you but arent you talking on hindsight. to be fair, can you tell me whether lehman will be the next to go?"
Yes, you have to really appreciate the 20/10 hindsight of the investment gurus on this sight.

Also, honest question: if Lehman is going to be the next to go and taking into account the $9 billion they are supposed to write down this week, why did banks line up last week to syndicate a $2 billion loan to them?

beautiful_mind0905

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Posted: Mar 18, 2008 - 01:29 PM

Banks work on confidence and they still have confidence in Lehman Brothers...

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kumlong

LoopKicker

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Posted: Mar 18, 2008 - 01:34 PM

hmmm. i really wish you are right as last night the pre opening moves on lehman was a bit worrying

dfoo

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Posted: Mar 18, 2008 - 01:59 PM

http://www.fool.com/investing/dividends-income/2008/03/17/is-lehman-br others-next-to-go.aspx

underh20
Shanghai Royalty

Joined: Sep 27, 2006
Posts: 9907
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Posted: Mar 18, 2008 - 06:35 PM

beautiful_mind0905 wrote:

Banks work on confidence and they still have confidence in Lehman Brothers...

No they don't.

Banks work on security. If you have something that they can take when you don't pay that is worth far more than what the loan value is, they'll give you the Moon.

Isn't Lehman still a part of AmEx?

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foodcoma

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Posted: Mar 18, 2008 - 06:53 PM

underh20 wrote:

Isn't Lehman still a part of AmEx?

I believe not as of 14 - 15 years ago.

underh20
Shanghai Royalty

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Posted: Mar 18, 2008 - 07:27 PM

^ Then they are more liable to failure.

Even if Lehman is healthy, a run on the bank (which is what happend to Bear) will kill it.

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SnappySammy

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Posted: Mar 18, 2008 - 09:27 PM

Where's Ace Greenberg when you need him?

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Rais

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Posted: Mar 20, 2008 - 10:31 AM

kumlong wrote:

hi mate. dont mean to insult you but arent you talking on hindsight. to be fair, can you tell me whether lehman will be the next to go?

Here's just one of the article freely available on the web:

http://www.businessweek.com/bwdaily/dnflash/content/oct2007/db20071011 _175964.htm?chan=search

Note the date of October 11th, combine this with the sub prime mess and the end is clear enough that perhaps you cannot be sure 100% but for sure it's enough to get the hell out (if you havent by then)