Elsewhere on Thursday,
- “Bill Gross made a huge bet on Fannie and Freddie. So far, I do not think it is working.”
- “In a large majority of cases, if there are liquidity problems, it is because there are solvency problems as well.”
- “The Fed quietly called Credit Suisse last month to see if it had pulled a line of credit from Lehman Brothers in response to a rumor.”
- “Lehman’s probable sale of the family jewels is the first in a series of escalating dares the conclusion of which will be Dick Fuld looking for a new job.”
- “Even as the UK stands with us in rallying the world against doing business with Tehran, an Iranian bank with a history of financing terrorism continues to operate in London.”
- All bad for airlines? Qantas profit rises 44%.
- Hedge funds? “We’re like hedgehogs with their needles up when they come ’round. This is so arcane what we do; they’ll never get in.”
- Do the best hedge funds hedge? (HT Abnormal Returns)
- Russians invade Finland, again.
- CFAs don’t spend much time reading blogs.
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