UBS Covers Its Bases, Sends Message That It Will Announce $7.9999999 Billion Writedown

Posted by Bess Levin, Nov 15, 2007, 1:08pm

UBS denied rumors that it will make a fourth-quarter writedown of $8 billion by saying today, "UBS does not expect writedown numbers like those implied in its outlook which means writedown numbers like $8 billion are not expected. [This also means that anything in the range of 7 billion and change, a number not like 8 billion because it's 7, is fair game]." Another possible scenario, according JP Morgan, is a $8 billion writedown broken into bite-sized pieces spread out over several quarters, which several students at Harvard have already told us they find "totally unacceptable" and maybe grounds for a Crimson editorial.

Incidentally: http://www.youtube.com/watch?v=TCprlfJ2Mzc
.
UBS CFO says not to expect massive Q4 writedown [Reuters]
Subprime Hits Seem Likely To Keep Coming [WSJ]
UBS May Write Down $1.8 Billion This Quarter, JPMorgan Says [Bloomberg]

0Recommend this! 6Comments
Posted in: UBS, continuing education

Comments

1

Posted by anon anon anon, Nov 15, 2007 1:25PM

UBS will be right down to the writedown. When they are ready, I guess.

2

Posted by At work, Nov 15, 2007 2:32PM

Thanks for ths NSFW about the language.

3

Posted by , Nov 15, 2007 2:38PM

who watches videos w/o their headphones on? idiot.

4

Posted by At Dealbreaker, Nov 15, 2007 2:42PM

Thanks for being a douche.

5

Posted by , Nov 15, 2007 5:22PM

UBS Investment Bank announced that effective today it will close its Home Finance unit – including the wholesale mortgage origination business and correspondent lending operation – as part of its previously announced realignment of its Fixed Income Currency and Commodities business (FICC).

6

Posted by At work smokes pole, Nov 16, 2007 1:27AM

Hey at work, pull your head out of Timmmaaays sphincter, buy headphones, and watch the videos like every other non-mongaloid who reads this website.

Stupid fuck.

Post Your Comment