Archive for March, 2009

Credit Market OverviewMarch 17, 2009
“Beware the Ides of March”. For Caesar these words had dreadful consequences and from his point of you, yes, unintended too. In the financial markets there is a Caesar as well only this one might seem a cross breed with Medusa as many times throughout this financial crisis we… »

Credit Market OverviewMarch 16, 2009
CEC Portfolio Composition
Throughout the turmoil that has beset the markets and the economy since the housing market became a house of cards there have been certain words or phrases have dominated the lexicon. “Credit Crisis” and “Bailout” come to mind as does “irrational exuberance” for that period when the bubble… »

Credit Market OverviewMarch 13, 2009
It’s a bit ironic that on Friday the 13th, after a three day 10.97% run off the lows in the SPX, the market seems to be gaining a bit of a pulse which cannot be said for any of Jason’s victims.
The CEC Strategy developed buy signals in GS, PHH, FCX, AGN,… »

Credit Market OverviewMarch 12, 2009
In the first part of this millennium the two major rating agencies, Moody’s and S&P, competed fiercely to place “AAA” stamps on a host of collateralized debt products being produced by those that were paying their fees.
In a bit of a turn-around in late April of 2008 (post Bear Stearns) S&P… »

Credit Market OverviewMarch 11, 2009
Given yesterday’s respite to the selling which had reduced the S&P from it’s 903.25 2008 year end close to 676.53 on Monday I thought I would discuss something that caught my eye in the papers recently and by papers I mean the two august publications put out by Dow Jones; The… »

Credit Market OverviewMarch 10, 2009
If there is any truth to the adage: “It’s not what you know, but who you know”; then you might consider a slight variation on that theme: “It’s not who you are but who you follow”. Jeffrey Immelt stands as testament to this second phrase as coming to the helm… »

Credit Market OverviewMarch 9, 2009
These are historic times for many reasons; The U.S.A. elected its first Black President and the economy is experiencing a contraction that brings to mind some of the most severe in this Nation’s existence.
Additionally a majority of investors have lost confidence in the markets. One of the most often sited… »

Credit Market OverviewMarch 6, 2009
I have heard the current malaise described as the “Great Recession” and a “Contained Depression”. Both of these terms hesitate to put the current socio/economic environment into the same category as the Great Depression and possibly with good reason.
The Bureau of Labor Statistics releases employment numbers for February this morning… »

Credit Market OverviewMarch 5, 2009
Do you remember those word problems in math class: A car is traveling west at 30 mph. Another car is traveling east at 20mph . . . etc. OK, so keep channeling your grade school math class and use the information below to answer the questions that follow.
If you… »

Credit Market OverviewMarch 4, 2009
After declaring GE’s dividend sacrosanct Jeffrey Immelt’s recent reversal begged of episodes that have become all too common since stocks peaked in October of 2007. (How different did things look back then?!). Members of the “C” suites of Bear Stearns and then a few months later, Lehman Brothers appearing… »