-30% in 2 days - what is going on, not seeing much in terms of newsflow
i read price of traded LBO loans has taken a hit in the last few days… they probably can’t finance new deals. that means they will twiddle their thumbs for a while.
FIG is down 34% today. Facing huge portfolio losses. Will run out of cash.
sid3699 Wrote: ------------------------------------------------------- > FIG is down 34% today. Facing huge portfolio > losses. Will run out of cash. Awesome!
Danteshek Wrote: ------------------------------------------------------- > i read price of traded LBO loans has taken a hit > in the last few days… they probably can’t > finance new deals. that means they will twiddle > their thumbs for a while. yep my buddy is in RE there, not much going on at all no money
Danteshek Wrote: ------------------------------------------------------- > sid3699 Wrote: > -------------------------------------------------- > ----- > > FIG is down 34% today. Facing huge portfolio > > losses. Will run out of cash. > > > Awesome! Not for me. I got in at $13
sid3699 Wrote: ------------------------------------------------------- > Danteshek Wrote: > -------------------------------------------------- > ----- > > sid3699 Wrote: > > > -------------------------------------------------- > > > ----- > > > FIG is down 34% today. Facing huge portfolio > > > losses. Will run out of cash. > > > > > > Awesome! > > > Not for me. I got in at $13 How could you possibly invest? They are a bunch of crooks! (I think all hedgies are crooks - except joey i guess).
Danteshek Wrote: > How could you possibly invest? They are a bunch > of crooks! (I think all hedgies are crooks - > except joey i guess). FIG is/was looking to expand their distressed investment business, especially in banks and insurance companies. They have been working with bank regulators in this regard. My mistake: I weighted fundamentals more.
sid3699 Wrote: ------------------------------------------------------- > Danteshek Wrote: > > > How could you possibly invest? They are a > bunch > > of crooks! (I think all hedgies are crooks - > > except joey i guess). > > > FIG is/was looking to expand their distressed > investment business, especially in banks and > insurance companies. They have been working with > bank regulators in this regard. > > My mistake: I weighted fundamentals more. Your mistake: You failed to account for the risk that the government would monopolize the market with much lower return expectations.
Atticus - how can they still be in business???
NakedPuts Wrote: ------------------------------------------------------- > Your mistake: You failed to account for the risk > that the government would monopolize the market > with much lower return expectations. True. The idea that the govt. would run a $700B hedge fund never occurred to me.
sid3699 Wrote: ------------------------------------------------------- > NakedPuts Wrote: > -------------------------------------------------- > ----- > > Your mistake: You failed to account for the > risk > > that the government would monopolize the market > > with much lower return expectations. > > > True. The idea that the govt. would run a $700B > hedge fund never occurred to me. I really want to know how much that 35 y.o. ex GS banker will be paid. let’s hope not two and twenty…
guys, these LBO’s will be exploding left and right as this continues. they are levered to the hilt!! and in a downturn any leverage, operational or financial kills!!
Deal flow is very slow right now, credit is tight and expensive, managements are not selling their companies (unless they have to liquidate)…should be pretty obvious why performance is down
Danteshek Wrote: ------------------------------------------------------- > sid3699 Wrote: > -------------------------------------------------- > ----- > > Danteshek Wrote: > > > -------------------------------------------------- > > > ----- > > > sid3699 Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > FIG is down 34% today. Facing huge > portfolio > > > > losses. Will run out of cash. > > > > > > > > > Awesome! > > > > > > Not for me. I got in at $13 > > > How could you possibly invest? They are a bunch > of crooks! (I think all hedgies are crooks - > except joey i guess). You are too kind. But, yeah, I know of lots of crookery in hedge funds.
FIG taking another beating today