FT: A detailed comparison of the current economic environment and the Japanese banking crisis. My favorite phrase is “great creativity of with the truth.” As a reporter, trying to figure out who is feeling the pain, it is sometimes very difficult to dig deeper than the “creative” answers financial types spin.
New York Post: When your portfolio company goes bankrupt, watch out for crazy vendors with threatening emails. A Steve & Barry’s (backed by TA Associates) vendor writes that shoppers of the bargain retailer are buying clothes that are “soaking of blood and tears of worldwide vendors.” Hello, Melodrama.
New York Times: Hedge funds can now romanticize the good old days, because the good old days are now a thing of the past. Well that’s not exactly a newsflash, but there is one part of this “trend” story that interests me:
The worst hit are funds that bet on events like mergers, companies’ stock prices, bonds and those that missed the turn in the price of oil.
It’s hard for me to understand exactly how this was a sound investment strategy to begin with. As they say, a rising tide…
dealReporter: Warburg’s exit of Huiyuan, and Coke’s attempt to execute the largest Chinese cross-border buyout, looks promising. But it’ll take at least six months.
Seeking Alpha: I can’t imagine too many investors are still on the fence about the presidential elections, but the mews machine will not stop running ‘news you can use’ comparisons of Obama and McCain policies. Here’s one for Health Care Investors.
Engadget: File this one under “Ridiculous Electronic Devices That Can Only Be Considered Relevant To This Blog Because Maybe A Venture Firm Has Invested In Electrolux.” It is a toaster with a scanner attached to it. Awesome.
New York Times: The Times is putting its sports and business sections together? That’s awkward, but maybe through osmosis I’ll get better at sports-related small talk as a result. As of right now, all I’ve got is Tom Brady’s torn ACL.