Here is a bit more to add to today's pile of news. Hedge fund redemptions continue at a near record pace. The fact that this is nearly as bad as September is quite telling as redemptions in September were triggered in part by funds that only allow redemptions on a quarterly basis. Those are out of the equation for redemptions in October, so nearing that mark for September is, well, telling. Anyhoot, the good news, if the attached is right, most hedge funds have already cashed a lot of their equities in and are sitting on cash. Then again, after the last couple of days, I think maybe a few hedge funds are still selling left and right.
http://www.nakedcapitalism.com/2008/11/hedge-funds-investors-withdraw-record.html
Repeat
Asia down again. What's new?
I did not see that coming
Okay selling pieces I saw, but the prospect of Citigroup putting itself on the block, I did not see. Bankruptcy yes, on the block no. But hey, who in the world is going to buy them. Not even their friend the Prince can afford that in these times and, frankly, if they are in such dire straights, who would want to buy them. After all, they have a lot of problems. Then again, JP Morgan seems willing to buy almost anything. But wait, I'm sorry, they were down over 17% today, so I guess they are not in the mood at the moment. What about Bank of America, they buy everything JP Morgan doesn't. No, they were down almost 14% today, so they are not likely to want more crap. Who does?
http://online.wsj.com/article/SB122722907151946371.html
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