PEhub Second Opinion

In question today: IPOs, high yield bonds, patriotism, globalization, and the blame game.

Reuters: Its not news to me, but now we have validation, the mega-buyout firms aren’t all sitting idle, they’re deploying capital overseas, more than half of it, to be precise.
Dealbreaker: The New Owners. Ha. I think.

The Aleph Blog: “You can get a CFA charter. You can pass the Series 7, and become a broker. You can become a financial journalist. None of those guarantee that you can add value.” You could even raise a huge fund in the good faith of countless investors, deploy it, and still not know how to add any value.

Reuters: Looking for the light at the end of the dark, dark IPO tunnel? Don’t hold your breath. As previously discussed, this year is likely the slowest for high yield bond issuances since 2002, and now we’re reading this year’ll be the worst for IPOs since 2003. If anyone is still waiting to point the recession finger, please kindly cop to it.
Wall Street Folly: Speaking of high yield, here’s another take on that data.

New York Post: So it’s the investors fault we’re in a credit crunch. Investments need to come with warnings, much like the calorie counts New York restaurants are required to display on their menus. When marketing to “sophisticated investors” simply isn’t enough.