WeWork Debris Hits Bystanders: Two More Real-Estate Mutual Funds “Gated,” This Time in Ireland. Fitch Warns of Contagion by Nick Corbishley • Feb 7, 2020 • 68 Comments “We regard liquidity mismatches as a major structural flaw.”
I’m in Awe of How Tesla is Now a Supernatural Phenomenon by Wolf Richter • Feb 4, 2020 • 193 Comments The WTF stock chart of the year. And another WTF chart of just how tiny Tesla is compared to the top 10 automakers.
What Happens When Investors Stop Fueling Cash-Burn Machines: At MoviePass Parent, Everything Goes to Zero by Wolf Richter • Jan 29, 2020 • 94 Comments Shares, which at peak-hype spiked 1,200% in a month, go to zero. Board of Directors goes to zero. Executives go to zero. Sales already zero.
Startup Unicorn Casper Sets IPO Price Range to Dish Out 36% Loss to Prior Investors by Wolf Richter • Jan 27, 2020 • 96 Comments Another money-losing, cash-burning, over-hyped unicorn in a ho-hum low-tech business (bedding retailer) tries to make it out the IPO window.
The Great American Shale Oil & Gas Bust: Fracking Gushes Bankruptcies, Defaulted Debt, and Worthless Shares by Wolf Richter • Jan 22, 2020 • 114 Comments Texas at the epicenter. We’re witnessing the destruction of money that loosey-goosey monetary policies encouraged.
After Blowing $43 Bn on Share-Buybacks in 6 Years, Boeing Scrambles to Borrow $10 Bn, on Top of a $9.5 Bn Credit Line in Oct, to Fund its 737 MAX Fiasco by Wolf Richter • Jan 20, 2020 • 223 Comments Having become a master of financial engineering instead of aircraft engineering. UPDATED with the announcement on Jan 21 that “ungrounding” of the 737 MAX will be further delayed.
The Wall Street Journal (and Other Media) Should Stop Lying About Repos by Wolf Richter • Jan 10, 2020 • 206 Comments My patience has been exhausted.
Four Banks & Three Tech Companies Blow $56 Billion in Q3 to Prop up Their Own Shares by Wolf Richter • Dec 18, 2019 • 124 Comments The Biggest Share-Buyback Queens: When Will They Run Out of Juice?
The Chilling Thing Subprime Retailer Conn’s Said About the Sudden Deterioration in New Accounts by Wolf Richter • Dec 11, 2019 • 84 Comments Rising first-payment defaults and 60-day delinquencies, which are “leading indicators,” caused the retailer to become “prudent.” Shares plunged 33%.
PayPal, Western Union Named & Shamed for Overcharging the Most on Money Transfers to Mexico by Nick Corbishley • Dec 10, 2019 • 61 Comments Remittances to Mexico is a $36-billion-a-year business.
