Note to GFIG - Contact Your Investors
Posted on | September 24, 2008 Time: 3:25 pm |
Putting out a statement would do wonders for GFIG shares at this point, regardless of the content of the news. I am expecting to hear the worst, that 75% plus of their credit derivatives business has been lost and deleveraging has massively outweighed higher volatilities (as to their net effects on company profits):
I will have to force myself to be extra patient with them…earnings clarity is going to be terrible, but they have enough going on in extra derivatives business to keep them going until credit markets get out of intensive care. It would just be much easier for them if they presented the state of affairs; with shares down 50% since the Tullett deal broke off, obviously our perception of Doomsday is worse than theirs.
Ryan Barnes
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