You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
LEH is a great franchise and Wall Street will not let it go the way of BSC
- Thread starter LondonHedger
- Start date
I dont know why you guys are trying to rip OP.
The MER deal shows that this trade was not off the mark.
Its easy to say, now that leh was found not to be attractive for a buyer that the whole trade was a disaster.
But on friday we had heard for months the Neuberger and asset management division hype and their good fixed income desks, it was not even close to unlikely event that LEH would get bought out.
MER was within days of the same fate and yet they were purchased at a premium. CDS on LEH were at 700 bps(not even close to junk), market thought they were too big to fail, OP was wrong but so was almost the entire financial world
The MER deal shows that this trade was not off the mark.
Its easy to say, now that leh was found not to be attractive for a buyer that the whole trade was a disaster.
But on friday we had heard for months the Neuberger and asset management division hype and their good fixed income desks, it was not even close to unlikely event that LEH would get bought out.
MER was within days of the same fate and yet they were purchased at a premium. CDS on LEH were at 700 bps(not even close to junk), market thought they were too big to fail, OP was wrong but so was almost the entire financial world
Quote from Daal:
I dont know why you guys are trying to rip OP.
The MER deal shows that this trade was not off the mark.
Its easy to say, now that leh was found not to be attractive for a buyer that the whole trade was a disaster.
But on friday we had heard for months the Neuberger and asset management division hype and their good fixed income desks, it was not even close to unlikely event that LEH would get bought out.
MER was within days of the same fate and yet they were purchased at a premium. CDS on LEH were at 700 bps(not even close to junk), market thought they were too big to fail, OP was wrong but so was almost the entire financial world
The whole thing was a crapshoot and had nothing to do with sound trading or investing. Might as well gone to Vegas and put it all on black. At least his drinks would have been free.
Quote from LondonHedger:
200K LEH shares bought on Friday at an average price of $3.74. I don't normally trade single stocks but this is like buying a call on LEH.
FYI I'm up $3.6 million YTD, so this is a small percentage of my equity.
200K shares at average price of $3.74 Friday $748,000
200K shares at average price of $0.00 Monday $ ???
Quote from buylo:
Making a call is one thing.
Calling everyone on ET an idiot, stupid, burger flippers and touting how much you are up this year certainly is begging for a response when "the greatest trade ever" vanishes over the weekend.
Exactly totally uneccessary, still waiting for his highness to have some humble pie here.