WSJ raporteerib, et SEC on andnud sisse tsiviilpettuse hagi Sentinel Management Groupi vastu. Eelmise nädala alguses väitis firma oma klientidele, et raha ei ole fondist enam võimalik välja võtta likviidsuskriisi tõttu krediiditurul. Krediidituru hirmud kandusid üle aktsiaturule ning Dow langes 207.6 punkti päevaga.
SEC süüdistab fondi võimenduse kasutamises ning sellest raporteerimata jätmises. Lisaks näeb SEC veel pettusskeemi, mida on üritatud varjata turulikviidsuse probleemidega – firma olevat väidetavalt klientide vara seganud enda varaga ning kasutanud seda tagatisena võimenduse võtmisel.
WSJ kirjutab, et kuigi probleemide põhjustajaks ei pruugigi olla krediiditurg, võib ettevõttega toimuv mõjutada turul olevaid teisi tegijaid – pankrott ei tee asja samuti lihtsamaks.
Teine huvitav lugu, mida WSJ lugejateni toob, käsitleb legendaarset investorit Warren Buffettit. Buffett on mees, kes ilmub siis kui ajad turgudel on õige veriseks minemas. Viimastel aastatel on hedge-fondide tegevuse tulemusena ettevõtete hinnad tõusnud ning see on jätnud Buffetti ilma investeerimisvõimalustest. Nüüd on tal kasutada $50-miljardiline rahatagavara ning erinevad spekulatsioonid on turul tekkimas. Toon välja mõned lõigud loost.
Some investors speculate Berkshire could be a buyer for parts of mortgage lender Countrywide Financial Corp., whose stock price has been hit hard by subprime worries. Countrywide's assets, including its debt-servicing business and its portfolio of high-quality mortgages and mortgage-backed securities, could be attractive to Berkshire, these investors say.
It wouldn't be the first time a financial firm asked Mr. Buffett for help. In 1991, he took over as chief executive of Salomon Brothers, then in the midst of a criminal probe for a scandal involving the Treasury market. Many credit Mr. Buffett today for shepherding Salomon back into the good graces of securities regulators and investors
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Unlike LTCM, Countrywide runs some straightforward lending businesses, a strong brand name and high-quality mortgage assets that could complement Berkshire's other securities investments. For example, Berkshire is a longtime shareholder in Wells Fargo & Co. and M&T Bank, also reputed to be conservative lenders with strong brand recognition and long operational histories
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In fact, Mr. Buffett has already been dipping his toe a little deeper into the market for mortgage-backed securities. In the second quarter, Berkshire reported that its insurance division doubled its investment in mortgage-backed securities rated double-A or higher, to $3.7 billion, from the first quarter
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Berkshire could also be taking advantage of cheaper stock prices in companies he already owns. For example, Berkshire bought shares of USG Corp., the wallboard maker, for as high as $46 in the past year and built up a little over a 17% stake. Yesterday, the shares closed at $37.96.