In case you haven’t heard, the two hedge funds Bear Stearns was attempting to revive are completely worthless. BSC is reporting returns from those two hedge funds to be approximately 10 cents to the dollar. A 90% loss will make anyone unhappy. From the Associated Press:
Both funds were squeezed after Bear Stearns made wrong-way bets on the home mortgage market and was caught as loans to risky investors began to default. The assets in one of the funds are essentially worthless, while another is worth 9 percent of its value at the end of April, according to a document obtained by The Associated Press.
They gambled… and lost… big. 90% of their investments wiped out. From Kudlow and Company on CNBC this afternoon, they reported that lawsuits may be pending as a result of the hedge fund mess at BSC. What really disturbs me is how the other large financials, GS, LEH, MS to name a few, are being brought down with them (I’m currently long with GS). Although my cost basis with GS is around $220, my position’s still being hammered. It’s probably going to be a good time to cut my losses and run to something a bit more profitable, such as oil or tech (although I own shares of LVLT, a speculative tech stock). My short list for my revamped portfolio’s going to be reworked a bit. It’s amazing how the stock market can declare an entire box of goods damaged when only one of the items inside is broken.
Faxing is only one of the things to consider before choosing a VoIP solution. Next get the document ready that you are going to send.
Comment by Gertrud Connard — Thursday, April 21, 2011 @ 4:23 pm