try2win Posted June 21, 2007 Report Share Posted June 21, 2007 DJ Blackstone Group IPO Prices At $31; Top End Of Range >BX ? NEW YORK (Dow Jones)--Private-equity firm Blackstone Group's initial public offering priced at $31 a share.? The IPO price, which was at the top end of the expected range of of $29 to $31 and set by lead underwriters Morgan Stanley (MS) and Citigroup ?, values Blackstone at about $33.6 billion. ? Blackstone raised $4.13 billion after 133.33 million common units were sold into the offering, making it one of the biggest IPOs on Wall Street. ? The stock is expected to begin trading on the New York Stock Exchange, under the symbol (BX) on Friday. 587028[/snapback] A snippet from one of the Agora e-mails. Even more remarkable, here are the same schleps whom Blackstone commonly outsmarts lining up to be suckered again. Today's FT tells us that the IPO is already six times oversubscribed, despite Senate action that threatens to double the firm's tax bill beginning in 2012. The poor boobs think they are going to put one over on Blackstone. For isn't that the real nature of this transaction? The world's most successful insiders are on one side of the table; the world's most na?ve public market investors are on the other. Who's going to get the better end of the bargain? 587035[/snapback] what is agora do they matter ? Link to comment Share on other sites More sharing options...
cwd Posted June 21, 2007 Report Share Posted June 21, 2007 DJ Blackstone Group IPO Prices At $31; Top End Of Range >BX ? NEW YORK (Dow Jones)--Private-equity firm Blackstone Group's initial public offering priced at $31 a share.?? The IPO price, which was at the top end of the expected range of of $29 to $31 and set by lead underwriters Morgan Stanley (MS) and Citigroup ?, values Blackstone at about $33.6 billion. ? Blackstone raised $4.13 billion after 133.33 million common units were sold into the offering, making it one of the biggest IPOs on Wall Street. ? The stock is expected to begin trading on the New York Stock Exchange, under the symbol (BX) on Friday. 587028[/snapback] A group that publishes financial letters.They publishhttp://www.agorafinancial.com/ A snippet from one of the Agora e-mails. Even more remarkable, here are the same schleps whom Blackstone commonly outsmarts lining up to be suckered again. Today's FT tells us that the IPO is already six times oversubscribed, despite Senate action that threatens to double the firm's tax bill beginning in 2012. The poor boobs think they are going to put one over on Blackstone. For isn't that the real nature of this transaction? The world's most successful insiders are on one side of the table; the world's most na?ve public market investors are on the other. Who's going to get the better end of the bargain? 587035[/snapback] what is agora do they matter ? 587036[/snapback] http://www.agorafinancial.com/ Link to comment Share on other sites More sharing options...
try2win Posted June 21, 2007 Report Share Posted June 21, 2007 DJ Blackstone Group IPO Prices At $31; Top End Of Range >BX ? NEW YORK (Dow Jones)--Private-equity firm Blackstone Group's initial public offering priced at $31 a share.?? The IPO price, which was at the top end of the expected range of of $29 to $31 and set by lead underwriters Morgan Stanley (MS) and Citigroup ?, values Blackstone at about $33.6 billion. ? Blackstone raised $4.13 billion after 133.33 million common units were sold into the offering, making it one of the biggest IPOs on Wall Street. ? The stock is expected to begin trading on the New York Stock Exchange, under the symbol (BX) on Friday. 587028[/snapback] agh, do they send out those thick mailers touting some stock that will go up 1000% ? A group that publishes financial letters.They publishhttp://www.agorafinancial.com/ A snippet from one of the Agora e-mails. Even more remarkable, here are the same schleps whom Blackstone commonly outsmarts lining up to be suckered again. Today's FT tells us that the IPO is already six times oversubscribed, despite Senate action that threatens to double the firm's tax bill beginning in 2012. The poor boobs think they are going to put one over on Blackstone. For isn't that the real nature of this transaction? The world's most successful insiders are on one side of the table; the world's most na?ve public market investors are on the other. Who's going to get the better end of the bargain? 587035[/snapback] what is agora do they matter ? 587036[/snapback] http://www.agorafinancial.com/ 587037[/snapback] 587038[/snapback] agh, do they send out those thick mailers touting some stock that will go up 1000% ? Link to comment Share on other sites More sharing options...
wndysrf Posted June 21, 2007 Report Share Posted June 21, 2007 There is a possibility that after tomorrow, I will have very limited access to this message board or any other website during working hours. On Friday, our bank will be merging with Citizens Business Bank of Ontario, CA. I will walk into the office on Monday morning, and have a brand new networked computer at my desk, but rumor has it that access to the internet will be restricted. There is no wireless router or internet connection outside of the network available, so I won't even be able to access the Internet from my notebook. The bank is a $6 billion dollar company started by a bunch of dairy farmers. Very strict and conservative loan portfolio, but they were too conservative and bought a huge amount of fixed income securities, which they now have huge, unrealized losses given the big move in interest rates. As you can see, the stock has been a total dog. Citizen's Business Bank Wish me luck. Link to comment Share on other sites More sharing options...
4shzl Posted June 21, 2007 Report Share Posted June 21, 2007 JWN is up .52 AH. The only news I can see is: Nordstrom Inc is near a deal to sell Fa?onnable, a brand of upscale apparel and accessories for men and women sold in specialty boutiques and its own department stores, The New York Post reported in its Thursday editions.The bidder is thought to be a private-equity firm, whose name could not immediately be learned, the paper reported. Sources reported that bids came in around $200 million, less than the $350 million Nordstrom paid for the company in 2000, the Post reported. Nordstrom operates four freestanding Fa?onnable stores in the U.S., including a flagship in Rockefeller Center, and 36 boutiques in Europe. Nordstrom did not return a call seeking comment. Link Boy, is that good news! They only lost $150 million on this deal . . . And yes, I'm still short. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted June 21, 2007 Report Share Posted June 21, 2007 meanwhile in OZ the sheeple are drowning in debt,not that it matters because wages are strong and we have unemployment at a 32 yr low.. Its all good so long as conditions stay like this FOREVER!!!! Australians now floating in a record sea of debt THE debt burden has soared to a record and Australians are spending almost 12 per cent of their disposable income on interest repayments. Prime Minister John Howard said that while some families were doing it tough, the Reserve Bank's March financial stability review found most people who took on debt could afford it. He said with wages strong and the unemployment rate at a 32-year low, "fairness in Australia is at a 32-year high". http://www.theage.com.au/news/business/aus...2019283559.html 12% IS THAT ALOT... PS Windy,dont give the new board any advice.. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted June 21, 2007 Report Share Posted June 21, 2007 talking about the Yen carry trade... No doubt, the Euro-Yen cross rate is now overbought and can correct at any time - especially given that the Yen carry trade is now overwhelmingly dominated by Japanese retail investors (who have historically had very bad timing). http://www.safehaven.com/article-7804.htm Link to comment Share on other sites More sharing options...
Jetlag Posted June 21, 2007 Report Share Posted June 21, 2007 Oil analcysts are baffled RISE NEUTRAL FALL 18 12 18 http://www.bloomberg.com/apps/news?pid=new...id=agimt02xcfok Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2007 Author Report Share Posted June 21, 2007 Once again, the absolute worst sentiment, over the longest period of time I can remember. Rydex still has a huge amount of money invested in their fund family, but they might as well close down the PM fund, as investors have abandoned it in droves. Another needle bottom and a higher low, after gold was slammed..... 587026[/snapback] Rather than indicating bearish sentiment, the steady decline in Rydex Precious Metals seems correlated to the introduction, and especially the increase in trading volume in the GLD in Q2 2006. Unlike the funds, the GLD can be traded at will. And the Rydex ratio really began to sink when the GDX was introduced last year. Note that the decline in the Rydex ratio was almost directly correlated with the increasing trading volume in the GDX. (aka the GOLDANGIT Index!) When you look at the COTs for the gold contract, small traders have been consistently net long between 20,000 and 35,000 contracts. Large traders have been consistently net long in a range also. There has been no meaningful change in sentiment over the last year. http://www.softwarenorth.net/cot/current/charts/GC.png The data suggests that the decline in the Rydex ratio was caused by the introduction of superior vehicles in which to trade and invest, and not by increasing investor bearishness toward gold stocks. There has been no change in other precious metals sentiment indicators, which continue to indicate a steady underlying bullishness among futures traders. Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2007 Author Report Share Posted June 21, 2007 Amazing how people I talk to are still enamoured with real estate, and they hate stocks. Just got off the phone with one of my customers, trying to cajole me to invest in real estate with him. I said no, I was doing much better by investing in stocks. He said "the stock market sucks!!". Even the professionals hate stocks. NEW YORK, June 21 (Reuters) - Short interest on the New York Stock Exchange rose 6.1 percent in June to another record high, the exchange said on Thursday, signaling a rise in bearish sentiment among investors. As of June 15, the number of short-selling positions rose to about 12.47 billion shares from 11.76 billion shares in the previous month. Short interest on June 15 was equal to 3.3 percent of the total shares outstanding on the NYSE. Link It will probably take up to 12 months of bullish stock action to work off this excessive level of bearishness. BobBrinker used to pound the table to go long if the 60-day p/c ratio was at .94 or higher. If the p/c ratio stays pinned at .99 everyday like it has recently, then that will push this rally extension out even further. 10-day p/c MA: .99 20-day p/c MA: .99 50-day p/c MA: .99 90-day p/c MA: .99 120-day p/c MA: .98 180-day p/c MA: .97 240-day p/c MA: .97 360-day p/c MA: .95 587027[/snapback] Once again, I am compelled to point out that, while you have posted this argument before, Mark, your conclusion is incorrect. Professionals do not "hate" stocks. Most shorting has to do with program trading hedge positions against options and futures, and is not an indication of sentiment. Again, looking at the COTs, the professionals trading the Spoos have been near neutral in their positions since March, and last week were almost dead neutral. This includes both commercials and large traders. The market may go higher, but not because "professionals hate stocks". Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2007 Author Report Share Posted June 21, 2007 DJ Blackstone Group IPO Prices At $31; Top End Of Range >BX NEW YORK (Dow Jones)--Private-equity firm Blackstone Group's initial public offering priced at $31 a share. The IPO price, which was at the top end of the expected range of of $29 to $31 and set by lead underwriters Morgan Stanley (MS) and Citigroup ?, values Blackstone at about $33.6 billion. Blackstone raised $4.13 billion after 133.33 million common units were sold into the offering, making it one of the biggest IPOs on Wall Street. The stock is expected to begin trading on the New York Stock Exchange, under the symbol (BX) on Friday. 587028[/snapback] A snippet from one of the Agora e-mails. Even more remarkable, here are the same schleps whom Blackstone commonly outsmarts lining up to be suckered again. Today's FT tells us that the IPO is already six times oversubscribed, despite Senate action that threatens to double the firm's tax bill beginning in 2012. The poor boobs think they are going to put one over on Blackstone. For isn't that the real nature of this transaction? The world's most successful insiders are on one side of the table; the world's most na?ve public market investors are on the other. Who's going to get the better end of the bargain? 587035[/snapback] Well, that's true BUT... I was just thinking about this the other day. You could have said the same thing about GS in 1999, but you would have more than tripled your money in 8 years if you bought the IPO, and that's not too bad. The insiders did better of course, because they got to have their cake and eat it too, but the ignorant boobs who bought and held didn't do too bad in the long run. Of course you would have done a lot better if you had waited for the bottom in 02 and 03, not because the price was any better, but because your holding period would have been so much shorter. The other point is that GS sold about a year before the end of that cycle. So if past history is any guide, the Blackstone sale won't mark the top, but is probably a precursor. These guys want to do the deal when there's still plenty of liquidity around. They know well that the longer they wait, the more they are playing with fire. Link to comment Share on other sites More sharing options...
wndysrf Posted June 22, 2007 Report Share Posted June 22, 2007 All I can say is that I was pounding the table last July about put/call ratios and the Rydex ratios, potentially pointing to a Weimar Run. I was dissed, heaped with bales of scorn and derision, and told that those indicators didn't work anymore, and to please quit beating a dead horse. Meanwhile, K-Wave was here chain posting his crash tunnels, fractals, posting 45 times a day about how the bottom was going to fall out, and he was adored and worshiped like a rock star. Since then, the NYA is up 20%. Some stocks like TNH are up over 600%. Global markets everywhere have skied since then, most hitting world records. We have been witnessing the biggest moneymaking opportunity of a lifetime. I rest my case. Link to comment Share on other sites More sharing options...
mmoy Posted June 22, 2007 Report Share Posted June 22, 2007 There is a possibility that after tomorrow, I will have very limited access to this message board or any other website during working hours. On Friday, our bank will be merging with Citizens Business Bank of Ontario, CA. I will walk into the office on Monday morning, and have a brand new networked computer at my desk, but rumor has it that access to the internet will be restricted. There is no wireless router or internet connection outside of the network available, so I won't even be able to access the Internet from my notebook. The bank is a $6 billion dollar company started by a bunch of dairy farmers. Very strict and conservative loan portfolio, but they were too conservative and bought a huge amount of fixed income securities, which they now have huge, unrealized losses given the big move in interest rates. As you can see, the stock has been a total dog. Citizen's Business Bank Wish me luck. 587040[/snapback] That's a downer. Getting bought out by a company that's not doing all that well and no access. Some of the options that might be useful: - Wireless Broadband from the phone company, usually $70 or more per month and you need to be able to get a cell signal in your office. If the glass is really thick or you're not close to a tower, then you're out of luck. - City wireless. I was on a street in Manchester, NH last night and saw an interesting sticker on a lamppost. It indicated that there was free wireless and gave the company name that provided the service. It appears that there is free internet access in some areas in the downtown. - Coffee shops with free wireless. I usually look for Panera Bread but sometimes places like Staples, public libraries, etc. have free wireless that you can use during lunch or on breaks. If you have a free signal outside of your building, something like the iPhone or a subnotebook might work. - It's hard to imagine a bank restricting internet access as you need access to interest rates, company and personal data and even things like human resources now use the web to supply human resources data. Our ESPP and ESOP plans are managed by Etrade, so we need to have access to Etrade. Our 401K plans are managed by Fidelity so we need access to Fidelity. We need to login to VSP to make vision care plan choices and lookup plan vendors. Same with healthcare, dental and other benefits. Perhaps they will have an internet terminal in a public place like the cafeteria or lobby for this. Perhaps it's time to have a look at monster.com. Link to comment Share on other sites More sharing options...
mmoy Posted June 22, 2007 Report Share Posted June 22, 2007 I would have had a great day today except for the boner in AMD today. Some dumb house upgraded AMD on the potential for a 1% gain in marketshare. Well, if you're selling chips at a loss you can do stuff like that. Intel's price cuts this past spring and early in Q3 should have killed AMD's ASPs. Another house called the house that upgraded AMD dumb. Oh well. Tomorrow's another day. Link to comment Share on other sites More sharing options...
Charmin Posted June 22, 2007 Report Share Posted June 22, 2007 There is a possibility that after tomorrow, I will have very limited access to this message board or any other website during working hours. On Friday, our bank will be merging with Citizens Business Bank of Ontario, CA. I will walk into the office on Monday morning, and have a brand new networked computer at my desk, but rumor has it that access to the internet will be restricted. There is no wireless router or internet connection outside of the network available, so I won't even be able to access the Internet from my notebook. I can feel for ya Wndy, where I work they monitor all internet access and if you use more than 15 minutes during work hours .... they'll slap your peepee. Lunchtime at least is available. Welcome to the world of reclusive stock traders. You could fill the void by downloading Gary kaltbaum and others on your USB drive and listen on your computer.. if permissable. I can tell Gary K makes your day Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.