Thursday, August 16, 2007

How to Get Inducted

  • Engage in suspicious mortgage loan activity, appraisals, sales, etc.
  • Shamelessly hype and/or promote subprime/interest-only/Alt-A loans
  • Deny the existence of a housing bubble or deny that problems exist with mortgage-backed securities.
  • REFI or HELOC your way to a better lifestyle.
  • Foolishly leverage yourself to the breaking point.

    *All inductees are innocent of a crime until proven guilty in a court of law. *

Monday, August 6, 2007

Failed or Impacted Bonds

  • 08-07-2007: Bear Stearns
    Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd. and Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund Ltd. asked for an "orderly liquidation'' in a petition filed in Cayman Islands Grand Court, citing volatility in the subprime mortgage market.

  • 08-07-2007: Alt-A
    Credit rating agency Standard & Poor's said Tuesday it placed 207 classes of mortgage-backed securities issued between Oct. 2005 and Dec. 2006 -- all underpinned by an intermediate type of loan -- on a negative rating watch.

  • 08-06-2007: Frankfurt Trust, ABS-Plus fund
    Includes residential mortgage-backed securities and collateralized debt obligations, halted redemptions on Aug. 3

  • 08-06-2007: Axa Investment Managers, US Bond Fund
    Reported a 13% drop in its value over two days in July

  • 08-06-2007: Fidelity Intermediate Bond Fund
    In March, Ford O’Neil, portfolio manager of the $8.3bn Fidelity Intermediate Bond Fund in the US, reported that the fund’s small exposure to sub-prime, through home equity-backed, asset-backed securities, detracted from performance.

  • 08-06-2007: $1.3bn Fidelity Inflation-Protected fund
    Continues to underperform its peers as a result of its 0.5% exposure to derivatives linked to sub-prime loans.

  • 08-06-2007: Four Corners Capital
    Australia’s Macquarie Bank said two of its retail bond funds, which apply leverage and invest in senior loans, saw a 25% decline in their value. Four Corners Capital
    Management, which manages the funds, was forced to sell loans and use the proceeds to reduce its leverage.

  • 08-03-2007: Union Investment Asset Management, ABS-Invest Fund
    AG, Germany's third-largest mutual fund manager, halted redemptions from its ABS-Invest Fund after clients pulled 100 million euros ($137 million) in the past month.

  • 08-03-2007: Sowood Management
    A hedge fund created with great fanfare by a former executive of Harvard University's $30 billion endowment, has collapsed.

  • 08-03-2007: Bear Stearns Asset Management
    2 Funds bankrupt: High-Grade Credit Strategies fund, High-Grade Structured Credit Strategies Enhanced Leverage Fund

  • 08-03-2007: Jones' Tudor Investment's $9 billion Raptor Fund
    Dropped 9 percent in July when the prices of U.S. stocks exploded lower in the last two weeks of the month.

  • 08-02-2007: Caxton Associates
    Caxton Associates' $3 billion Global Bond Fund dropped just under 3 percent

  • 08-02-2007: Taiwan Life
    Taiwan Life's shares tumbled 4.6 percent to NT$58.60 at the 1:30 p.m. market close in Taipei after it disclosed the NT$428 million ($13 million) loss.

  • 08-02-2007: Cathay Financial Holding Co. and Shin Kong Financial Holding
    Dropped after they revealed holdings of collateralized debt obligations containing subprime home loans.

  • 08-02-2007: Bank of China
    Said it would book an ``insignificant'' loss on U.S. subprime securities, as repercussions ripple outward from a crisis that claimed two Bear Stearns Cos. hedge funds last month.

  • 08-01-2007: Basis Capital Fund Management Ltd. and Absolute Capital Group Ltd.
    Both based in Sydney, froze investor accounts this month because of the subprime mortgage slump.

  • 08-01-2007: Oddo & Cie
    French stockbroker and money manager, plans to close three funds totaling 1 billion euros ($1.37 billion), citing the ``unprecedented'' crisis in the U.S. asset-backed securities market. Oddo said it will wind down the funds within the ``shortest possible time frame'' because of a plunge in prices for collateralized debt obligations, notes backed by other bonds, loans and their derivatives.

  • 07-28-2007: Absolute Capital Group
    Australian hedge fund, suspended withdrawals from two funds after forecasting losses on US mortgages to people with poor credit.

Sunday, August 5, 2007

Real Estate Video Collection

2007-11-01: Schiff on CNN

2007-10-31: Schiff vs. Mike Norman

2007-10-30: Schiff vs. Tom Adkins

2007-10-25: Schiff Interview

2007-10-25: Mozilo: Oompa-Loompa

2007-10-15: Central CA Housing Debacle

2007-09-30: 'Maxed Out'

2007-09-27: Cramer, "Don't you dare buy a home now."

2007-09-22: CNBC Power Lunch 9/4/07

2007-09-22: Housing Bubble Set to 'Smack My Bitch Up'

2007-09-22: Peter Schiff September 2007 CNBC

2007-08-26: Subprime Derivatives

2007-08-26: Housing Crash Update

2007-08-13: How Millions Will Lose Their Homes

2007-08-12: VIDEO: Orange County Subprime Street

2007-08-03: Jim Cramer's Meltdown

2007-08-03: Jim Cramer's Meltdown, ala iTulip

2007-08-01: Jim Cramer Chronology
2006: he says there is no problem in real estate
July 12, 2007: subprime and mortgage-backed securities is a poor people's problem
July 28, 2007: everyone should walk away from their home if it drops 20%

2007-05-17: Real Estate Predictions 2007
- Peter Schiff, Tom Adkins, Mike Norman: Peter is the only one that has a brain; Tom and Mike are total FOOLS; listen to Tom and Mike giggle; Tom Adkins of REMAX is an idiot

2007-05-27: Temecula Housing Wall
Housing Bubble in Temecula. 85 signs. one neighborhood. Absolute warzone...just driving through after checking out the new homes for mid to high 300's and then crossed the street to find forclosures and houses for sale in the mid to high 400's.