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Just Shoot Me

Bala, 28, Gordon Gekko in the making, pseudo-intellectual, cynic, bibliophile, obsessive compulsive ranter...

The bear God waketh

August 01, 2007

1) Doesn't NYSE have price band limits for stocks? Yesterday American Home Mortgage lost 90% of its value in a single day after basically saying "we are broke". Once it started its free fall trading was stopped in the forenoon when it was trading at around 10$ and when it was reopened for trading in the afternoon (around 12 in the night for us), its price crashed to a dollar!!!. Indian stock exchanges usually have price band limit for stocks beyond which a stock price can't change - so we don't witness such interesting behavior here. (i don't think there is a price band for stocks with stock futures. hafta check this out)

2)Yet another Bear Stearns Hedge fund seems to be going under. Bear Stearns has stopped redemptions from the $900 million Asset-Backed Securities Fund today. The other two from Bear family which were in trouble earlier have filed for bankruptcy. (so far i had heard only of chapter 11, it seems if you are cross border you file for chapter 15.. hee hee).

3) We had a blood bath today.. yawn... 615 points in the sensex .. yawn..180 in the nifty.. yawn. It was absolutely wonderful to watch the parade of fools in CNBC suddenly discover the phenomenon of gravity. As i am typing this now, udayan mukherjee is looking like he just died and mithali mukerjee is looking like she just saw a dead man. I missed Tanvir Gill today, this funeral atmosphere is tailer made for her.

4) Let me repeat, when puNNakku vikkaravan and gundoosi vikkaravan start becoming star fund managers, the bear God really gets annoyed and you don't want him annoyed.

5) Margaret Brennan is really hot.

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posted by Bala, 7:46 PM

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