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House Price Crash Forum


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Everything posted by kilroy

  1. er, I don't think that Bill Gross is one of the 2mln being thrown to the wolves...
  2. http://www.bloomberg.com/apps/news?pid=new...id=avBKcmS5cRD0 By David Clarke Aug. 22 (Bloomberg) -- Capital Fund Management, a Paris- based hedge-fund manager, said its Discus Master Fund could lose as much as 27 percent of its assets, or $407 million, after the bankruptcy of cash-management firm Sentinel Management Group Inc. Chief Executive Officer Jean-Pierre Aguilar said in an interview today that the company's Stratus Fund Ltd. also could lose as much as 10 percent of its $2.2 billion of assets as a result of a holding in Discus. Stratus invests in a range of funds managed by Capital. ``We are fighting to recover the money,'' Aguilar said. The company oversees about $4 billion in total. The U.S. Securities and Exchange Commission has accused bankrupt Northbrook, Illinois-based Sentinel of lying to investors and misappropriating their assets by moving at least $460 million from clients' accounts into its own, and misusing the holdings as collateral to obtain credit. The Discus fund bets on the prospects for futures and currencies, Aguilar said. Stratus has about 40 percent of its assets in Discus, he added. Sentinel froze client withdrawals on Aug. 14, citing credit market volatility. The company's Chapter 11 bankruptcy filing, which Sentinel said will allow it to restructure its debt, listed both assets and liabilities of more than $100 million.
  3. ah, but the way it is worded is that each lady gave 10 dollars, and received 1 dollar back.
  4. Fed using another tool (not Poole this time, but the fee dealers are charged to borrow treasuries)) http://www.bloomberg.com/apps/news?pid=new...id=aFhWILT_OTzA
  5. ...and they will pay (more) inheritance tax
  6. markets are pricing in 0.75bps rate cut by the FED by year end
  7. rumours of a secret FED meeting plus rumours that Bear Stearns has secured funding from a "deep pocket partner"
  8. Conversely, when you buy a house you do so in the belief that you get some sort of value equal to or above what you are paying. If a house seems cheap, do you offer the vendor more money, or do you keep quiet proceed with the sale thus depriving the vendor of the extra "value" you will benefit from? I suggest you give any market where the price is set by negotiation a wide berth.....
  9. That logic is stupid. Why? Because STR have facilitated a stamp duty payment and contribute to to btl's interest payments. Now, you could argue that people who rent and have never owned only contribute to btl interest, with no tax receipt generated by sale. Taking your logic to its conclusion, are you really saying that wannabe FTB's are the scum of the earth as they don't contribute the tax receipt that a STR does? Or do BTLs contribute to HPI and STRs do the opposite?
  10. In a word, bubble. Also, I don't think that the OP realises that there is a global house price bubble purely down to lax credit. THere has certainly been a bubble in Poland and Latvia, which have now burst. How could that happen if the populations of those countires were emigrating to the UK?
  11. ah! I do apologise. It is actually my nickname at work because my surname begins with silk......
  12. no, it was an argument as to why I should not be labelled UKIP.
  13. I rent cheaply (having strd) and have no problems with immigration. I like the free market and am suggesting that when pay increases inteh countries they come from to lure them back, they will go. Who wouldn't? If I could earn in Wales what I earn in London, I would go back. There is money out there for anyone willing to uproot and move somewhere new and unfamiliar. Problem is, people don't think that they should have to.
  14. I think that immigrants have pushed down wage inflation, and as we all know, rents are determined by wages, whereas house prices for the past couple of years have been determined by loose credit. Any price increase due to increased demand for rented accomodation seems to have been offset by lower wages. The only immigrants I see purchasing houses are for BTL purposes, most others seem to be here for a quick buck, not for life and will leave as quickly as they came.
  15. and presuming you have no power button on your calculator it is £1124.86p/1.04/1.04/1.04 = 1000
  16. not necessarily, he coudl be figuring the pv today of 10000 in 4 years time using a 4% flat discount curve
  17. 10000/1.04/1.04/1.04/1.04 ( which is 10000*(1+.04)^(-4) ). This gives your 4 year discount factor, discounted at a rate of 4%.
  18. A lot will be in August because that is when BoE cut rates in 2005 to reignite the flagginf market, so a fair amount of people got 2, 3 and 5 year fixes. The 2 year fixes will be expiring shortly.
  19. I tihnk that Gordon will move such that interest relief is only available to registered companies. As a result private landlords will have to incorporate to recieve the deduction and then there is no avoiding paying of tax.
  20. just hearing the following on the City monkey grapevine "Strong equity close has pushed us much better this morning, many rumours surrounding reasons for this including someone getting fat fingered and sold 5400 S&P calls instead of 54 contracts as had been intended, this was covered by buying the futures, no conformation of this." and more clarity "apparently someone at MS made a mistake and bought 5400 futures instead of 54 amounted to $5bn worth of fake buying" so who knows, but would explain a lot
  21. Hmm, looks strange given the other data. +0.25% please Merv.
  22. probably the abn amro report on the home page
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