Word: nosebleeders
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I would guard against too much restored confidence, however. For one thing, the rate cut could mean that Greenspan views the economy as even weaker than it looks, which of course would not bode well for stock prices. As for the insiders, they are famous for buying too early. During...
NEW YORK: The Dow was up again on Wednesday morning. In Japan, the yen has stablilized. So your sagging portfolio is finally safe, right? Wrong. TIME Wall Street columnist Daniel Kadlec believes that the bargain-hunters who've been buying since Tuesday's nadir (which represented a 10 percent correction...
Yet with an estimated 30 million to 40 million potential customers who have few other places to turn for cash, sub-prime lenders have been Wall Street darlings. Borrowers whose chief alternatives ranged from pawnshops to loan sharks gladly jumped at the chance to pay nosebleed rates of 10% or...
Gillett personally relishes skiing "steep and deep," which is not a bad metaphor for his investment style. Like his earlier Vail venture, Gillett II rests on a mountain of junk securities, although these cost a mere 12.5% interest, well below the nosebleed rate for his last go-round. And this...
Green Tree represents the rapier edge of a red-hot specialty: the business of making loans to people with damaged credit at interest rates that start at high and extend to very high and nosebleed. Depending on where you sit--whether you are the lender or the borrower--this is...