The Best of Bloomberg - Sept09 - August 09 - July 09 - June 09 - May 09
The best friend
of any Front-office professional is definitely his/her Bloomberg Professional Terminal with its 80's GUI (this being said, the GUI has improved dramatically lately).
Miss a Bloomberg Terminal? No worry, we make for you here a repository of the most read news of the month.
What is the first information a professional trader look at in the morning? It's the "Quote of the Day" Terminal. The quotes of the month can be found here also.
The most read News
Banks Lead Decline in U.S. Stocks on Concern Over More Losses
By Lynn Thomasson
Sept. 1 (Bloomberg) -- U.S. stocks fell for a third day, the longest losing streak for the Standard & Poor’s 500 Index since June, as concern banks will post more losses overshadowed manufacturing and housing data that topped economist estimates.
Wells Fargo & Co. slid the most in two weeks even after saying it will pay back government bailout funds without selling stock. Bank of America Corp. declined 6.4 percent to lead the Dow Jones Industrial Average lower. American International Group Inc. plummeted 21 percent and MetLife Inc. tumbled 7.4 percent after analysts said the insurers’ shares have risen too far, too fast. Europe’s benchmark stock index retreated 1.8 percent.
Full Aricle
Goldman Sachs Wrong on Economic Recovery, Macro Hedge Funds Say
By Cristina Alesci
Sept. 1 (Bloomberg) -- Paul Tudor Jones, the billionaire hedge-fund manager who outperformed peers last year, is wagering that Goldman Sachs Group Inc. and Morgan Stanley got it wrong in declaring the start of an economic recovery.
Jones’s Tudor Investment Corp., Clarium Capital Management LLC and Horseman Capital Management Ltd. are taking a bearish stand as U.S. stock and bond prices rise, saying that record government spending may be forestalling another slowdown and market selloff. The firms oversee a combined $15 billion in so-called macro funds, which seek to profit from economic trends by trading stocks, bonds, currencies and commodities.
Full Article
Stocks Show Why Analysts Dismiss Economists on Growth (Update3)
By Eric Martin and Michael Tsang
Sept. 8 (Bloomberg) -- Never before have Wall Street stock analysts diverged more with economists at their own firms over the outlook for earnings in the Standard & Poor’s 500 Index.
Profits for companies in the S&P 500 will rise 25 percent next year, according to the average estimate of more than 1,500 equity analysts tracked by Bloomberg. That’s 10.9 times faster than the expansion in gross domestic product foreseen by 53 economists surveyed last month. The ratio of income to GDP growth is the highest on record and compares with an average of 6.1, based on data compiled by Bloomberg going back 60 years.
Full Article
BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico (Update4)
By Eduard Gismatullin
Sept. 2 (Bloomberg) -- BP Plc, Europe’s second-largest oil company, reported a “giant” discovery at the Tiber Prospect in the U.S. Gulf of Mexico that may contain more than 3 billion barrels, after drilling the world’s deepest exploration well.
The well is located about 250 miles (400 kilometers) southeast of Houston, the London-based company said today in a statement. It was drilled to approximately 35,055 feet (10,685 meters), greater than the height of Mount Everest.
Full Article
Wealthy Families Face Bankruptcy on Real Estate Crash (Update1)
By Jeff Plungis
Sept. 9 (Bloomberg) -- Wealthy individuals’ Chapter 11 bankruptcy filings jumped 73 percent in the second quarter from a year earlier, according to the National Bankruptcy Research Center, a research firm in Burlingame, California.
More individuals or families with at least $1,010,650 in secured debt and $336,900 unsecured are using Chapter 11 of the U.S. bankruptcy code typically associated with business reorganizations. Falling U.S. home prices leave them unable to refinance or sell properties when they drop below the value of the mortgage, said Joseph Baldi, a Chicago bankruptcy attorney.
Full Article
The Quotes of the Day
“I feel very strongly that change is good because it stirs up the system.” -- Ann Richards
“All the arts we practice are apprenticeship. The big art is our life.” -- M.C. Richards
“I hope life isn’t a big joke, because I don’t get it.” -- Jack Handey
“If you can find something everyone agrees on, it’s wrong.” -- Mo Udall
“If I knew I was going to live this long, I’d have taken better care of myself.” -- Mickey Mantle
“A man’s respect for law and order exists in precise relationship to the size of his paycheck.” -- Adam Clayton Powell Jr.
“Everyone rises to their level of incompetence.” -- Laurence J. Peter
“It has been my experience that folks who have no vices have very few virtues.” - - Abraham Lincoln
“Show me a hero and I will write you a tragedy.” - F. Scott Fitzgerald
“I never feel age... If you have creative work, you don’t have age or time.” -- Louise Nevelson
“Laws are like sausages. It’s better not to see them being made.” -- Otto von Bismarck
“You have not converted a man because you have silenced him.” -- John Viscount Morley
“We don’t always get to choose what we love.” -- Scott Westerfeld
“Good people are good because they’ve come to wisdom through failure.” -- William Saroyan
“Givers have to set limits because takers rarely do.” -- Irma Kurtz
“The hardest thing in the world to understand is the income tax.” - Albert Einstein
“Three o’clock is always too late or too early for anything you want to do.” - Jean-Paul Sartre
“Art is something out of nothing and selling it.” - Frank Zappa
“Silence is one of the hardest arguments to refute.” - Josh Billings
“When a man has no reason to trust himself, he trusts in luck.” - Ed Howe
“History repeats itself: historians repeat each other.” - Philip Guedalla
“The empires of the future are the empires of the mind.” -- Sir Winston Churchill
