Word: investors
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Dates: during 2000-2009
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...According to the FT, Leon Black, head of Apollo Management and a crafty investor in distressed debt told the paper that "the extra costs of cleaning up the U.S. banking industry could total as much as $2,000bn", putting further strain on the economy. He said the woes of the commercial property had not yet been reflected fully on bank balance sheets...
...odds over what to do first - regulate the global economy or stimulate it? Nor will the albatross of AIG be removed from the government's neck anytime soon. Liddy said his goal is to restructure AIG's core businesses into "clearly separate, independent" companies that are "worthy of investor confidence." AIG has "made meaningful progress," but the company is still at the mercy of the economy. In the businesses it wants to keep, like commercial insurance, competitors sense an opportunity to grab market share. For the assets it wants to sell, there are few buyers. What remains is still...
...last long rally the market had ran from March of 2003, when the DJIA was 7,740 to almost 14,100 in October 2007. An investor in an index fund doubled his money and did even better if dividends were factored in. No one calls the long leg up in the market a sucker rally, but it was for those who did not sell their stocks until early this month when the Dow dropped below 6,600. (See pictures of the Top 10 scared traders...
...lose their life's savings. Owning a stock that is up by a factor of three or four times in less than a month is a blessing, perhaps not a celestial one, but it is a sign, at least, that fate has been kind. Even the most fabulously gifted investor in the world could not have predicted that Citigroup shares would rebound so far, so fast. (See the Top 10 TV feuds...
Robert Chew is a former investor with Madoff via a feeder fund. He lives in Colorado...