Hedge Fund Hotel SunEdison Is Crashing Again - Now
Down 86% In Three Months - (www.zerohedge.com) How the mighty have fallen. Once (and still)
"no brainer" hedge fund hotel, sponsored by any and all talking head;
now sub-$5 share price 'languisher in the basement' of the last few years. SunEdison
(down 14% today) is now down 86% from its July 20th highs as an armada of
leveraged speculators flood through the straits of first-mover advantage...
How the mighty
have fallen. Once (and still) "no brainer"
hedge fund hotel, sponsored by any and all talking head; now sub-$5 share price
'languisher in the basement' of the last few years. SunEdison (down 14%
today) is now down 86% from its July 20th highs as an armada of
leveraged speculators flood through the straits of first-mover advantage... Down 14% today (after
yesterday's 22% drop)...
We’re
in the Early Stages of Largest Debt Default in US History - (www.wolfstreet.com) We are in the early stages of a great debt
default –
the largest in U.S. history. We know roughly the size and scope of the coming
default wave because we know the history of the U.S. corporate debt market. As
the sizes of corporate bond deals have grown over time, each wave of defaults
has led to bigger and bigger defaults. Here’s the pattern. Default rates on
“speculative” bonds are normally less than 5%. That means less than 5% of
noninvestment-grade, U.S. corporate debt defaults in a year. But when the rate
breaks above that threshold, it goes through a three- to four-year period of
rising, peaking, and then normalizing defaults. This is the normal credit
cycle. It’s part of a healthy capitalistic economy, where entrepreneurs have
access to capital and frequently go bankrupt. If you’ll look back through
recent years, you can see this cycle clearly…
A
divorce and an accident left her with nothing - (www.cnbc.com) But
too many Americans act like trapeze artists without nets when it comes to
saving. Some 60 percent of American workers said they and/or their spouse have
less than $25,000 in total savings and investments, and just 3 percent reported
having $75,000 or more, according to research by the Employee Benefit Research
Institute and Greenwald & Associates. Barbara Tantillo, 49, a registered
nurse who worked for years for pharmaceutical companies, was decidedly not in
that 3 percent. She married young, and the couple soon had three sons. But
after 18 years she and her husband divorced. Tantillo was focused on retaining
custody of her boys, so she allowed her husband to dictate key terms of the
divorce settlement. As a result, while she got the house and the car, she said
she also got the bills — and her husband got to keep his pension and savings
from the Air Force Reserves.
Ex-taxi
driver buys $170M artwork with credit card NYT - (www.cnbc.com) Liu
Yiqian, a former taxi driver turned billionaire art collector, confirmed on
Tuesday that he was the buyer of the
painting of a nude woman by Amedeo Modigliani that sold for $170.4 million at Christie's New York on Monday night. Speaking by telephone
from Shanghai,
the Chinese collector said he planned to bring the work back to the city, where
he and his wife have two private museums. "We are planning to exhibit it
for the museum's fifth anniversary," he said. "It will be an
opportunity for Chinese art lovers to see good artworks without having to leave
the country, which is one of the main reasons why we founded the museums."
What
Copper Just Said about China - (www.wolfstreet.com) China accounts for about 40% of global copper
demand. Copper goes into nearly everything built or manufactured that uses
electricity: office complexes, apartments, homes, cars, electronics, machinery,
infrastructure projects, airports, high-speed rail, kitchen appliances, wires
of all kinds, even water pipes. Copper has been a strategic metal in China. It
has been stockpiled. Without access to copper, China’s economy would grind to a
halt. China’s economy grew officially at a phenomenal 6.9% rate in the third
quarter, and you’d think with this kind white-hot growth, China would heat up
demand for copper and push up its price. But no. Something is mucking up the
equation, and the price of copper plunged to a new six-year low.
ECB Faces Three Suits Over Quantitative Easing in Germany - (www.bloomberg.com)
World economy's ability to fight shocks dented: Moody’s - (www.cnbc.com)
China’s Crackdown on Financial Markets Gets Top-Level Support - (www.nytimes.com)
China officials signal concern about flagging global trade - (www.reuters.com)
Chinese Stocks Slide Most in Week in Hong Kong on Inflation Data - (www.bloomberg.com)
World economy's ability to fight shocks dented: Moody’s - (www.cnbc.com)
China’s Crackdown on Financial Markets Gets Top-Level Support - (www.nytimes.com)
China officials signal concern about flagging global trade - (www.reuters.com)
Chinese Stocks Slide Most in Week in Hong Kong on Inflation Data - (www.bloomberg.com)
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