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’Pre-avoiding regulation, Goldman style
How does this work?
Goldman argues that the highly profitable, tailored segment of the derivative business is unable go on an exchange due to low volumes or pricing difficulty. Alternatively, these high margin OTC products will likely be cleared through a common settlement venue,
Counting the cost of the IMF’s bank taxes
If the IMF really does want two big new levies on banks, we’d better run the numbers. The snap conclusion of most bank analysts is that the International Monetary Fund’s proposal for some shiny new financial stability taxes could be quite a large headache for the sector.
Tome time at Bernstein
Just in case you were short of investment research, Bernstein have started pulling their analysts together globally and asking each of them to come up with one idea that he or she believes has the best chance of generating alpha over the next 6-12 months.
Cadbury post-mortem
No doubt the board of Cadbury are feeling pretty pleased with themselves right now.
After all, they have just managed to extract a higher offer from Kraft, providing an exit at a 50 per cent premium to the level it was trading at the day before the first offer in September.
Dear Vodafone
Bernstein analyst Robin Bienenstock has opened her heart to the management and board of Vodafone — via an open letter.
And she does not hold back.
In it she laments the fact that Vodafone “has the potential to become the most compelling transformational story in European Telecoms,”
The disreputable market in Volkswagen
Taking the concept of excellent cornering to a new level, Porsche casually announced at the weekend that it had amassed a holding of 74.1 per cent in that other piece of German financial engineering, Volkswagen.