My thoughts: The bottom in housing may not be here yet, and will probably take longer to achieve than most expect. But news like this means we are getting closer….
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You bought at the peak of the market. You put next to nothing down. (Maybe you even took out one of those 105% LTV [...]

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This strategy involves investing in the securities of a company that is or is expected to be in trouble. Some distressed securities can trade at large discounts to their actual risk adjusted basis. This is due to the psychological effect that occurs in the marketplace when a firm gets into trouble or files [...]

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LONDON (Reuters) - BlackRock, the giant U.S. investment fund with some $1.36 trillion in assets under management, reckons the banking crisis is not over and companies are delaying expansion plans and in some case cutting spending.
But in a note, Bob Doll, the firm’s global chief investment officer for equities, says there are nonetheless 10 positive [...]

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Hedge fund managers are poised to leap into the pool of distressed and incorrectly priced securities created by the credit crunch.
Swiss private bank Union Bancaire Privée and Swiss manager Gottex Fund Management are launching funds that will invest in debt they believe is temporarily undervalued as a result of market conditions.
The opportunity is on a [...]

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Maybe the economy is getting closer to bottoming out, the news is becoming even more negative:
NEW YORK (Reuters) - Goldman Sachs forecasts global credit losses stemming from the current market turmoil will reach $1.2 trillion, with Wall Street accounting for nearly 40 percent of the losses.
U.S. leveraged institutions, which include banks, brokers-dealers, hedge funds and [...]

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