If you missed the Merrill Lynch earnings call and are frustrated you can't find a transcript yet, we suggest you check out David Gaffen's live blogging the call. David's been doing this for quite sometime and they keep getting better. And, while you're at it, you can read Felix Salmon's summary of the call. Felix says Merrill handled the call just right. The results: "A decidedly modest drop in the share price. Yes, it's down about 2.5% from where it closed on Wednesday, but it's up from where it closed on Tuesday, when the capital infusions were announced. And at $53.70, it's already up more than 10% from its 2008 lows. Well done, that man!"
Already people are saying that Thain has poured a little Goldman magic on Merrill.
Posted by thain , Jan 17, 2008 11:28AM
Confernce
Posted by , Jan 17, 2008 11:38AM
are we watching the same market??
merrill is down 2x any other broker today. and 5x merrill.
well played.
Posted by John Carney , Jan 17, 2008 11:42AM
As usual, I have no opinion about why a stock goes up or down other than it is the result of the cumulative effect of buying and selling decisions by various investors.
Posted by to JC , Jan 17, 2008 1:21PM
spoken like a true lawyer
Posted by , Jan 17, 2008 1:37PM
you're right. it is not completely obvious to anyone who read the posts this morning what your opinion is
Posted by anon anon anon , Jan 17, 2008 2:13PM
Tip: Get on the MBIA and Ambac story before the mushroom.
Posted by vulture hedgie , Jan 17, 2008 2:28PM
Just spoke to my CDO syndicate guy at a BB trying to sell some residual positions wrapped by Ambac...literally going for nothing. People are in panic mode out there, as they should be...
Posted by left coast , Jan 17, 2008 2:31PM
Copy that vulture...large BWICs going out this week...it's a liquidation party! This may make the August quant bloodbath look like a tea partay.