FT Alphaville http://ftalphaville.ft.com FT Alphaville - Market Commentary - FT.com Fri, 17 May 2013 16:07:42 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Alphachat: Lee Buchheit edition, featuring Lee Buchheit http://ftalphaville.ft.com/2013/05/17/1506742/alphachat-lee-buchheit-edition-featuring-lee-buchheit/ http://ftalphaville.ft.com/2013/05/17/1506742/alphachat-lee-buchheit-edition-featuring-lee-buchheit/#comments Fri, 17 May 2013 15:48:57 +0000 FT Alphaville http://ftalphaville.ft.com/?p=1506742 In this installment of Alphaville’s traditionally, if not actually, infrequent podcast Robin, Joseph and Cleary Gottlieb lawyer and sovereign debt maven Lee Buchheit discuss Cyprus, capital controls, a new sovereign debt restructuring mechanism and the best place to hang out if you are a restructuring lawyer.

Continue reading: Alphachat: Lee Buchheit edition, featuring Lee Buchheit]]> http://ftalphaville.ft.com/2013/05/17/1506742/alphachat-lee-buchheit-edition-featuring-lee-buchheit/feed/ 0 “This is Lake Wobegone upside-down” http://ftalphaville.ft.com/2013/05/17/1506732/this-is-lake-wobegone-upside-down/ http://ftalphaville.ft.com/2013/05/17/1506732/this-is-lake-wobegone-upside-down/#comments Fri, 17 May 2013 15:39:11 +0000 Paul Murphy http://ftalphaville.ft.com/?p=1506732 The quote is from Gerard Minack, Morgan Stanley’s celebrated equity strategist, based in Australia.

He retired from the bank on Friday and his final thoughts are in the usual place.

A taste…

Investing is an unusual profession: perhaps the only one where amateurs have a good shot at beating the pros. However, evidence suggests that amateurs don’t: flow data indicate that retail often buys high and sells low.

Continue reading: “This is Lake Wobegone upside-down”]]> http://ftalphaville.ft.com/2013/05/17/1506732/this-is-lake-wobegone-upside-down/feed/ 0 A boutique bear-hug? http://ftalphaville.ft.com/2013/05/17/1506632/a-boutique-bear-hug/ http://ftalphaville.ft.com/2013/05/17/1506632/a-boutique-bear-hug/#comments Fri, 17 May 2013 14:58:20 +0000 Paul Murphy http://ftalphaville.ft.com/?p=1506632 A slightly confusing statement on Friday out of Morgans Hotel, the group founded by Ian Schrager, who is credited with creating the whole concept of a boutique bed-for-the-night…

NEW YORK, May 17, 2013 /PRNewswire/ — Morgans Hotel Group Co. (MHGC) (“MHG” or the “Company”) today provided clarification regarding statements made in a filing submitted by The Yucaipa Companies (“Yucaipa”).

Continue reading: A boutique bear-hug?]]> http://ftalphaville.ft.com/2013/05/17/1506632/a-boutique-bear-hug/feed/ 0 Re-setting ENRC (updated) http://ftalphaville.ft.com/2013/05/17/1506652/re-setting-enrc/ http://ftalphaville.ft.com/2013/05/17/1506652/re-setting-enrc/#comments Fri, 17 May 2013 14:30:43 +0000 Paul Murphy http://ftalphaville.ft.com/?p=1506652 On Markets Live on Friday we offered some speculation on the level ENRC’s controlling shareholders might table to take the business private.

Once we’d zapped a few arbs amongst the ML Rabble, and got over an associated sulk, we offered a price: 340p

Continue reading: Re-setting ENRC (updated)]]> http://ftalphaville.ft.com/2013/05/17/1506652/re-setting-enrc/feed/ 0 The persistent supply-side constraints in US housing http://ftalphaville.ft.com/2013/05/17/1504482/the-persistent-supply-side-constraints-in-us-housing/ http://ftalphaville.ft.com/2013/05/17/1504482/the-persistent-supply-side-constraints-in-us-housing/#comments Fri, 17 May 2013 12:16:02 +0000 Cardiff Garcia http://ftalphaville.ft.com/?p=1504482 Every now and then, we take a look at why the US housing comeback continues at a pace that has disappointed those of us who believed (and still hope) that a rebound in household formation will produce a self-sustaining acceleration in the broader recovery.

After the release on Thursday of disappointing housing starts but encouraging building permit numbers for April, we’ll do so again now. Start with this helpful chart from Capital Economics:

Continue reading: The persistent supply-side constraints in US housing]]> http://ftalphaville.ft.com/2013/05/17/1504482/the-persistent-supply-side-constraints-in-us-housing/feed/ 0 The US collateral shortage lives on http://ftalphaville.ft.com/2013/05/17/1506362/the-us-collateral-shortage-lives-on/ http://ftalphaville.ft.com/2013/05/17/1506362/the-us-collateral-shortage-lives-on/#comments Fri, 17 May 2013 12:01:30 +0000 Izabella Kaminska http://ftalphaville.ft.com/?p=1506362 Scott E.D. Skyrm, repo specialist and author of an upcoming book on MF Global, presented an interesting repo chart on his blog this week:

As the chart shows, so-called GC repo rates are once again trading below the Fed Funds rate.

Continue reading: The US collateral shortage lives on]]> http://ftalphaville.ft.com/2013/05/17/1506362/the-us-collateral-shortage-lives-on/feed/ 0 Markets Live: Friday, 17th May, 2013 http://ftalphaville.ft.com/marketslive/2013-05-17/ http://ftalphaville.ft.com/marketslive/2013-05-17/#comments Fri, 17 May 2013 10:00:18 +0000 Paul Murphy http://ftalphaville.ft.com/?post_type=webchat-markets-live&p=1506322 Live markets commentary from FT.com

Continue reading: Markets Live: Friday, 17th May, 2013]]> http://ftalphaville.ft.com/marketslive/2013-05-17/feed/ 0 Bird, plane, Abe http://ftalphaville.ft.com/2013/05/17/1506092/bird-plane-abe/ http://ftalphaville.ft.com/2013/05/17/1506092/bird-plane-abe/#comments Fri, 17 May 2013 09:45:22 +0000 David Keohane http://ftalphaville.ft.com/?p=1506092 One for the mantelpiece, Mr Abe:

(Click through the pic for the Economist article)

Continue reading: Bird, plane, Abe]]> http://ftalphaville.ft.com/2013/05/17/1506092/bird-plane-abe/feed/ 0 The (early) Lunch Wrap http://ftalphaville.ft.com/2013/05/17/1506152/the-early-lunch-wrap-276/ http://ftalphaville.ft.com/2013/05/17/1506152/the-early-lunch-wrap-276/#comments Fri, 17 May 2013 09:44:31 +0000 Lisa Pollack http://ftalphaville.ft.com/?p=1506152 Bove vs Bloomberg, on JPMorgan || QEnd Game || EBA delays bank stress tests || Qatar bankrolls Syrian revolt || Dell profits below expectations || US farmland prices see double-digit rise || World’s largest container shipping company downgrades view on global trade || Tony Hayward appointed chairman of Glencore Xstrata || Citigroup FX traders move away from Bloomberg Messenger || Saudi princes deny laundering claim || S&P cuts Berkshire Hathaway || Yahoo spared potential $2.7bn in legal damages || Market update

Continue reading: The (early) Lunch Wrap]]> http://ftalphaville.ft.com/2013/05/17/1506152/the-early-lunch-wrap-276/feed/ 0 Wanna know what the oligarchs will table for ENRC? http://ftalphaville.ft.com/2013/05/17/1506122/wanna-know-what-the-oligarchs-will-table-for-enrc/ http://ftalphaville.ft.com/2013/05/17/1506122/wanna-know-what-the-oligarchs-will-table-for-enrc/#comments Fri, 17 May 2013 08:52:46 +0000 FT Alphaville http://ftalphaville.ft.com/?p=1506122 Then join Markets Live at 11am on Friday. Here.

New to ML? Read on…

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Continue reading: Wanna know what the oligarchs will table for ENRC?]]> http://ftalphaville.ft.com/2013/05/17/1506122/wanna-know-what-the-oligarchs-will-table-for-enrc/feed/ 0