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Jamie Dimon regrets the purchase of Bear Stearns and paradox of deleveraging

 In this podcast Charles Peabody, partner and research analysts at Portales Partners LLC claims that in private discussions Jamie Dimon said that he regrets of his decision to purchase Bear Sterns. It simply turns out that the purchase was too costly. By Peabody calculations the real purchase price, including all hidden fees and losses, was not $10 as was publicized, but $106 per share.

For whatever great company it was, B.S. simply was not worth $106.

And so here we return back to the paradox of deleveraging that I’ve mentioned before. The paradox is that the finite group of highly leveraged financial institutions may not decrease the leverage by selling assets to each other. They need to either receive some external capital injections or destroy some leverage inside.

http://yellowroad.wallstreetexaminer.com/blogs/2008/09/13/jamie-dimon-regrets-the-purchase-of-bear-stearns-and-paradox-of-deleveraging/#more-216
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If Charles Peabody calculated that Jamie Dimon of JPMorgan Chase paid $106 a share for Bear Stearns stock, he does not belong in the finance world. Be careful of what you pick up on the internet. Nutty yarns like this stinker “look official” to newcomers but in fact have no substance.

     You'll notice the details of Mr. Peabody's personal calculations were conveniently left out of this misguided and erroneous report. Why? It’s because there is absolutely no credible supporting documentation to sustain this $106 a share fairy tale.  

 

Ed Cage

1804 Cross Bend, Plano TX 75023

972-596-4363

ecagetx@gmail.com


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