Hello,
Sorry for the long sparse blogging of late.
What happened to good old Tesla? After a massive jump on its IPO, the stock has failed to do anything. And today, it fell 17%. Why? We learned in class of lock-up's and how they can be included in the terms of the IPO. Tesla's lock-up expired today. If anyone had realized this (besides institutional money managers), they could have profited big time today. This lock-up expiration, allows for an additional 60 - 70 million shares to be released into the market (for you economists out there ... supply up, price down). (Here) is an article from Marketwatch.
AIG led financials higher today after they announced new credit lines to help pay off U.S. Taxpayers. More than 30 banks will help provide the credit for AIG and the lines will be administered by JP Morgan Chase. It seems as though the global insurance giant is taking steps towards freedom, and profitability. The Boomberg article is (here).
Gary Kaminsky of CNBC's Strategy Session gave his input today in forecasts for the upcoming decade. His predictions include: outperformance of growth strocks, 6-7% equity returns annually, and no bursting of the bond bubble. CNBC article is (here).
Enjoy
Hope all of your Holiday's were as nice as mine.
Kevin
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