2nd quarter earnings aren't taking us down. Oil isn't taking us down. Rates aren't taking us down.
Sellers are taking us down. Lots and lots of sellers. And far fewer buyers at the price levels of current offerings.
The Bear management team tonight must wish they never heard of an in-house hedge fund or sub-prime. To have the Bear Stearns CFO calling this the nastiest 22 year debacle he has ever seen is noteworthy. Apparently the market is agreeing with him.
I guess Bear never ponied up the $3,000,000,000 to bail out one of their hedge funds. So now, the lawyers will do their best to recoup from the deep pockets of Bear shareholders. I thought you had to be smart and rich to invest in hedge funds and run them? They all want the upside in great markets and none of the carnage on the way down. Sounds like par.
Native American Advisors, Inc.
- Dean Parisian
- CHIPPEWA PARTNERS is a Registered Investment Advisor and provides investment management to private investors, retirement plans and Native American tribal entities. Founded in 1995 as a fee-only money manager we are about doing the right things the right way and our expertise developed over 25 years balances financial acumen with absolute integrity. Dean Parisian is a former NASD and NYSE arbitrator and very successful trader who started his career on Wall Street in 1982 with Kidder Peabody and then with Drexel Burnham Lambert. The firm is a Life Member of the National Congress of American Indians and adheres to fiduciary standards. As a private, unbiased firm we know what to do and are prepared to do it. We invite your inquiry to manage your assets. ChippewaPartners@aol.com. Office: 877-772-1621 www.chippewapartners.com
Friday, August 03, 2007
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