The taunting has begin. A friend sent me this pic from Bear Stearns HQ in Manhattan:
Re: RIP, Bear Stearns
The taunting has begin. A friend sent me this pic from Bear Stearns HQ in Manhattan:
Re: RIP, Bear Stearns
This is a blatant case of the super rich screwing Joe Lunchbox investor. The book value of BS assets on Friday was somewhere around $8 per share. This is a backroom deal sanctioned by the Fed that lets JPM get a HUGE discount on a company that will make them lots of $$ going forward, but screws over the regular shareholders. The regular shareholders would have been better served if BS filed Capter 11.
I hope that the employees (who control 1/3 of BS stock) vote not to accept the deal.
"What, have Canadians run out of guns to steal from other Canadians and now need to piss all over our glee?"
- TSM
Re: RIP, Bear Stearns
Joe Lunchbox needs to pull his head out of his canteen and invest in mutual funds.Originally Posted by Goofball
Reinvent the British and you get a global finance center, edible food and better service. Reinvent the French and you may just get more Germans.
Ik hou van ferme grieten en dikke pinten
Down with dried flowers!
Spoiler Alert, click show to read:
Re: RIP, Bear Stearns
Erm...
What, pray tell, do you think mutual funds invest in?
"What, have Canadians run out of guns to steal from other Canadians and now need to piss all over our glee?"
- TSM
Re: RIP, Bear Stearns
Many stocks which many people contribute to. Don't give me that poor Mr. Working Class routine when a single stock goes down. Real investors invest for the long term.
Reinvent the British and you get a global finance center, edible food and better service. Reinvent the French and you may just get more Germans.
Ik hou van ferme grieten en dikke pinten
Down with dried flowers!
Spoiler Alert, click show to read:
Re: RIP, Bear Stearns
So what about the "real investors" who invested for the long term in BS?
"What, have Canadians run out of guns to steal from other Canadians and now need to piss all over our glee?"
- TSM
Re: RIP, Bear Stearns
Mutual funds are just pre-diversified portfolios that you can buy into. If anyone has a mutual fund that is a bit more active than passive and happened to be invested in Bear Sterns, they are pissed.
I don't understand though - did J.P. Morgan do a force buyout and then send people checks for $2 per share or are those stocks still active but under new ownership?
In the first case that stinks. In the second case it probably isn't that bad. Anybody know? Has this already been discussed?
Last edited by ICantSpellDawg; 03-17-2008 at 21:59.
"That rifle hanging on the wall of the working-class flat or labourer's cottage is the symbol of democracy. It is our job to see that it stays there."
-Eric "George Orwell" Blair
"If the policy of the government, upon vital questions affecting the whole people, is to be irrevocably fixed by decisions of the Supreme Court...the people will have ceased to be their own rulers, having to that extent practically resigned the government into the hands of that eminent tribunal."
(Lincoln's First Inaugural Address, 1861).
ΜΟΛΩΝ ΛΑΒΕ
Re: RIP, Bear Stearns
If you have too much of your portfolio in a single sector -- much less a single company -- you are a high-risk investor and prone to taking bigger hits when things go south.
We can all thank the Belgians for developing the mutual fund concept -- asset allocation and moderating the risk are worthy goals.
"The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.” -- Milton Friedman
"The urge to save humanity is almost always a false front for the urge to rule." -- H. L. Mencken
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