Merrill Lynch (MER)

Re: Merril Lynch MER

Postby kennynah » Wed Sep 17, 2008 1:01 am

hahaha.... good morning to you.... hope all is ok for u during this period...
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Re: Merril Lynch MER

Postby -dol- » Wed Sep 17, 2008 1:21 am

Good morning, boss.

Just went through my exposures (macham the local banks)...
ML 0%...LEH 0%...UBS 0%...
AIG - home fire insurance! ---> praying that nothing happen until AIGony secure funding :roll: :mrgreen:
It's not the bottom if you are not crying.

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Re: Merril Lynch MER

Postby kennynah » Wed Sep 17, 2008 1:28 am

i was just thinking... prudential or great eastern could be smart and churn customers over during this period... like those credit card balance transfer promotions...hahaha...

home fire insurance... no problem lah... chances are very slim one ever needs to effect this policy one...
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Re: Merril Lynch MER

Postby -dol- » Wed Sep 17, 2008 10:13 am

If there is one thing to take from this crisis, it's that anything is possible.

We should look out for "black swan" events.
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Re: Merril Lynch MER

Postby millionairemind » Wed Sep 17, 2008 10:31 am

-dol- wrote:If there is one thing to take from this crisis, it's that anything is possible.

We should look out for "black swan" events.


The market will always give signs (unless a terrorist attack) before the black swan event occurs.

1 month prior to the crash of 87, market was already telling the participants to get out. DOW had a total of 11 distribution days out of 22 trading days just before the day of the crash.

If one had been paying attention to the LIBOR rate, one would have seen this credit crunch coming. The 3-mth LIBOR rate is now 2.88, way above the 2% FED fund rates.... This is similar to the credit crunch we saw in the massive correction in January and just before BEAR STERNS bite the dust..
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Re: Merril Lynch MER

Postby -dol- » Wed Sep 17, 2008 10:45 am

The 11 Sept 2001 crash could also have been avoided. Market was not that healthy for months going into Sept that year - and you just need a catalyst to trigger it.

That is why there is no need to get involved in the stock market all the time - "iffy" periods are when they are most vulnerable to black swan events. Fund promoters like to harp about missing the 10 best days of the year - equally, how about missing the 10 worst days? And single-day market declines can be worse than single-day gains---> Fear trumps greed.
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Re: Merril Lynch MER

Postby blid2def » Sat Sep 20, 2008 1:50 am

The Deal Professor looks at the BAC - MER deal:

http://dealbook.blogs.nytimes.com/2008/ ... agreement/
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Re: Merril Lynch MER

Postby iam802 » Wed Dec 03, 2008 1:51 pm

I wonder if it is across the board. Or are those who have outperform still entitled to their share of P&L.

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Re: Merril Lynch MER

Postby millionairemind » Tue Dec 09, 2008 8:21 am

And for less than 1 year of work - $10MM

Published December 9, 2008

Thain seeking 2008 bonus of US$10m: WSJ
Battered Merrill's compensation body is resisting request


(NEW YORK) Merrill Lynch chief executive John Thain has suggested to directors that he get a bonus of as much as US$10 million for this year, but the battered company's compensation committee is resisting his request, the Wall Street Journal reported, citing people familiar with the situation.

The compensation committee has not reached a decision, but is leaning toward denying Mr Thain and other senior executives bonuses for this year, the people told the paper.

Merrill could not be immediately reached for comment.

Shareholders on Friday approved Bank of America Corp's takeover of Merrill, a deal fraught with risk but one that would create a banking giant with a leading position in almost every major area of the financial system.

Merrill was arguably saved from extinction when it agreed to merge on Sept 15, an hour before Lehman Brothers Holdings Inc filed for bankruptcy.

The fear was that Merrill could be next if shareholders and trading partners fled, as many did at Lehman and the former Bear Stearns Cos.

Mr Thain has said he deserves a bonus because he helped avert what could have been a much larger crisis at the firm, people familiar with his thinking told the WSJ.

Members of Merrill's compensation committee agree with Mr Thain that the takeover is in shareholders' best interest, but believe it would be foolish to ignore strong public sentiment against large compensation packages, the paper said, citing people familiar with their thinking.

Committee members are also weighing the fact that other Wall Street firms, including Goldman Sachs Group Inc, which did better than Merrill this year, are not giving out bonuses to top executives, the paper said.

Mr Thain, who became Merrill's chief executive after losses in mortgage-related investments led to the October 2007 ouster of Stanley O'Neal, has also run NYSE Euronext, after a long career at Goldman.

After the Bank of America-Merrill deal is completed, he will run the merged company's global banking, securities and wealth management businesses.

Mr Thain will not be joining Bank of America's board. -- Reuters
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Merril Lynch MER

Postby LenaHuat » Tue Dec 09, 2008 6:21 pm

He now said that he would forego the bonus :lol:
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