Murk everywhere. There isn’t even an agreement what “leveraged loans” are. No, banks are not off the hook. That was wrong too. They hold 57% of these instruments, the Bank of England found.
In 2013, I called Goldman Sachs a “snake-oil salesman” for underwriting a $1 billion J.C. Penney stock offering. Investors got wiped out. Now the bonds, including a 100-year bond, which has collapsed.
Kudos to the private equity firm. These things don’t happen overnight for companies. They happen overnight only for investors.
$30 trillion of assets globally are held by similar open-ended funds.
OK, so we have a phenomenon here that has taken on historically huge proportions in the era of the Everything Bubble.
Neiman Marcus newest disclosures – and what the crazy-hot IPO market has to do with it.
Those who bet on the most obvious short in the history of mankind got the heads handed to them.
Bloodletting after record IPO Hype in 2018 of Chinese companies in the US.
Impact felt by the real economy and the most vulnerable consumers.
Tesla is steeped in chaos — and chaos is absolutely the opposite what a complex manufacturing, distribution, and retail operation needs.