Sure, every interview with the Berkshire Hathaway CEO since the dawn of time has noted his sippage of Cherry Coke (whether he knows it or not), but that may not always be the case. You want to keep him as a customer, you gotta work for it. Read more »
Well, the numbers are finally in for 2012 and it was, relatively speaking, a bloodbath for hedge funds, with more going to their grave or down the drain than in 2010 or 2011. But there were still 235 more hedge funds at the end of the year than at its beginning, because those who have previously shuttered a hedge fund due to their failure to raise/make enough money gave it another go last year. Look for more of the same this year, as fresh-faced and not-so-fresh-faced hedge fund managers hang out a new shingle for a few months, only to find out that investors are only interested in having Ray Dalio manage their money. Read more »
Florida-based BankUnited Financial Corp (huge in the option ARM biz in South FL) is down 83 percent YTD. The Office of Thrift Supervision, it’s hilariously named regulator, may lower its capital rating. The humidity in Miami is unbearable this time of year. All signs point to fail. David Bishop, however, refuses to come out and say it. The Stifel Nicolaus analyst instead downgraded the firm to sell and danced around the whole thing, writing that the “viability of the bank is increasingly fraying…[and while it] may yet be successful in finding private equity capital to forestall additional regulatory sanctions, we believe there is a good enough chance that this will not come to pass.” It’s unclear whether Bishop has a longstanding history of not JUST SAYING IT: YOU WILL FAIL, or if his skittishness is a recent phenomenon having something to do with the bank down the road suing everyone’s favorite woodland creature for having the pair to do just that.
Related: BankAtlantic Sues Bové
Stifel cuts BankUnited to sell on capital concerns [Reuters]