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.
More on: S&P Warns of More Financial Pitfalls Ahead
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: Goldman’s Results Foretell Trouble for Morgan Stanley
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: Study: The Analysts Aren’t Wearing Any Clothes
Ockham Research Staff @ December 9, 2008 # One Comment
A bit of perspective from our email inbox.
More on: What a Difference a Year Makes!
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.
More on: Proprietary Trading and Research Divorced?
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?
More on: American Express: Worth the Risk?
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.
More on: Not all that Glitters is Goldman