S&P Warns of More Financial Pitfalls Ahead

Ockham Research Staff @ December 19, 2008 # One Comment


A sweeping downgrade of financials by credit rating agency S&P was one of the major stories of the day. Or on second thought, what does this tell us that we did not already know, and so far the market has not even noticed.

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Goldman’s Results Foretell Trouble for Morgan Stanley

Ockham Research Staff @ December 16, 2008 # No Comment Yet


Goldman reported a wider than expected loss for their recent quarter, but the marketplace has brushed that aside and bid up the price more than 11 percent. We are concerned that Morgan Stanley might not get the same treatment if they are to slip up tomorrow.

More on this topic (What's this?) Read more on Goldman Sachs Group, Morgan Stanley at Wikinvest

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Study: The Analysts Aren’t Wearing Any Clothes

Ockham Research Staff @ December 15, 2008 # One Comment


A recent study suggests what we have been trying to explain for quite a while now, that in addition to lacking credibility, Wall Street Research ratings appear to not perform very well either. We think this fascinating study is worth a read for both individual and institutional investors.

More on this topic (What's this?) Read more on Investment Banks at Wikinvest

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What a Difference a Year Makes!

Ockham Research Staff @ December 9, 2008 # One Comment


A bit of perspective from our email inbox.

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Proprietary Trading and Research Divorced?

Ockham Research Staff @ November 17, 2008 # One Comment


FINRA is putting another nail in the coffin of prorprietary research departments at the big investment banking firms. Basically, no longer will advanced access to research be allowed. And since the proprietary trading desks (which trade the brokerage firms own money) could make lots of coin on that advanced access, there is a possibility that more firms will cut their research budgets and analysts staff.

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American Express: Worth the Risk?

Ockham Research Staff @ November 13, 2008 # No Comment Yet


American Express is the latest company to have become a bank holding company in order to receive special “bail out” money from the Fed. While this does make the odds of failure much less, does this make the company a suitable investment?

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Not all that Glitters is Goldman

Ockham Research Staff @ September 17, 2008 # One Comment


Goldman Sachs reported positive earnings which were better than expected. What did the financial titan get in return for going well in this difficult opperating environment? A loss of about 25% in market cap since they announced as many are questioning the sustainability of independent investment banks. Its never dull.

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Wachovia Follows the Herd Regarding ARS Buybacks

Ockham Research Staff @ August 15, 2008 # No Comment Yet


Wachovia is the latest to settle with the NY Attorney General investigation into marketing of Auction Rate Securities. It is tough to be optomistic about the short term prospects for WB but in the long term there is definately appreciation potential.

More on this topic (What's this?) Read more on Wachovia at Wikinvest

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