// author archive

The Prince

The Prince has written 146 posts for Prince of Wall Street
Email the author

Convatec Buyout with Committed Financing!

By The Prince ⋅ May 5, 2008 ⋅ Post a comment

Two buyout firms, Avista Capital Partners and Nordic Capital, have agreed to purchase ConvaTec, a division of Bristol-Myers Squibb, for $4.1 bn.  ConvaTec makes products for wound care and ostomies.  Last spring this deal would have gotten almost no ink the press but now it is big news.  Apparently this deal has committed financing.  Pretty [...]

Montag’s Pay Package

By The Prince ⋅ May 4, 2008 ⋅ Post a comment

4 May 2008 - When Merrill Lynch filed its employment agreement with Thomas Montag with the SEC on Thursday, they gave all the enemies of Wall Street yet another example of excessive pay being handed out even in difficult times.  Montag, who is the new head of Merrill global sales and trading, will receive a [...]

The Prince’s Weekend Audience

By The Prince ⋅ May 2, 2008 ⋅ Post a comment

1) Want to see some data and charts about the housing and credit bubble that will make you queasy?  Take a look at this very detailed presentation from T2 Capital Partners.  Yes, things are much worse than any of us realize or admit.
 
2) Epicurean Dealmaker - "Not Safe for Work"
Ed: "Like: did Al Gore really [...]

The Credit Crisis and Leverage Explained

By The Prince ⋅ May 1, 2008 ⋅ Post a comment

30 Apr 2008 - The Prince really found these recent remarks by David Einhorn, manager and founder of Greenlight Capital, especially interesting.  Basically, he lays out pretty concisely and completely the case for how leveraged played a major roll in the credit crisis.  The remarks are pretty interesting and are a nice place to start [...]

Reasons To Sell Financials Now

By The Prince ⋅ April 30, 2008 ⋅ One comment

Now that the Fed has cut rates and looks like they are going to be pausing through the summer the conditions seems right to sell financials.  The sector has recovered recently as the solvency of many firms has been confirmed.  Also, many firms have been able to secure additional capital.  While confidence in the sector [...]

Oil Prices: Reason Trumped By Transparent Pandering

By The Prince ⋅ April 30, 2008 ⋅ One comment

The recent rise in oil prices and the corresponding rise in gasoline prices has brought out many complaints from the masses.  The rise in prices makes sense given the limited ability to increase the supply of barrels.  As wells have become depressurized and the rate of new discoveries has slowed it has become much harder [...]

Bankers Now Soul Searching

By The Prince ⋅ April 25, 2008 ⋅ Post a comment

As most of you know the Prince is a fan of Jonathan Knee and his book Accidental Investment Banker.  Mssr. Knee wrote a really interesting article yesterday in the WSJ entitled "Must I Bank?".  Not sure many people saw it since it was buried in the paper.
Here is an excerpt:
"When the music of financial-services contraction [...]

Rating Agencies Repeated History

By The Prince ⋅ April 24, 2008 ⋅ Post a comment

25 Apr 2008 - Another bit of older commentary but still very worthwhile.  A couple of weeks ago, Linda Lowell at Housingwire recently wrote a great piece of commentary looking at how the past data that the rating agencies used was faulty or misinterpreted.  Mainly she points to the fact that the mass amounts of [...]

Outsourced Consumer Debt Collection

By The Prince ⋅ April 24, 2008 ⋅ Post a comment

24 Apr 2008 - As if the frustration of consumers directed towards outsourced technical support was not enough, now it appears that outsourcing companies in India and other countries are calling on American consumers to try to collect consumer debts.  In fact, this form of outsourcing is a growth industry, according to the New York [...]

Great Conditions for Cross-Border M&A?

By The Prince ⋅ April 24, 2008 ⋅ Post a comment

Since the credit crisis began everyone has been wondering what kinds of buyers would step in to replace the enormous hole left by private equity firms.  First, we heard that strategic buyers would become more important now that they lacked competition from private equity firms.  The only problem with this, is that it takes for [...]

« Previous   Next »