TV Ad rates to 15 year low in UK
Not really surprising, but interesting on the FT. TV Ad rates are now back to 1992 levels. We know advertising is a cyclical business, and no surprise is turning downward so quickly in such challenging (to say the least) economic environment. Also, the FT says that 35% of companies cut ad budgets for the 4th [...]
What next?
You cannot rule out a big one-day market crash like the 25% fall in 1987. With all that the central banks and the governments are doing, markets are in free fall, down 20%+ in the week, and everybody is panicking. It just takes very little to break the whole system into a one day big-meltdown. [...]
S&P starts with an 8
839.80
S&P touched 839 today, time to cash in the second pizza. Time to go long the market? I doubt… It’s better and safer to let the dust clear, even if this means potentially missing a 20% or plus upside. The situation is so dire, that you don’t really know what’s next. Also, from an economic [...]
Bank of America 10bn$ capital raise
How on earth a bank that spends 50bn$ to buy Merrill Lynch would after a month need to raise 10bn$ at a discount of some 20/30% versus market price, diluting existing shareholders, in a market that is extremely tight on cash? It seems to me that some people might not have understood how serious the [...]
S&P below 1,000
Just a quick update on the bet I made with a friend of mine I hinted to a few blogs ago. I was giving the S&P 12 months to touch 1,000 (at the time I made the bet, the S&P was trading around 1,300), and it just touched it yesterday, closing at 996. I’ll collect [...]