Moody’s Intrinsic Value
widemoatinvesting.wordpress.com 4/10/2009 — 2008 was a tough year for Moody’s Corporation, with free cash flow (FCF) levels falling to 2003 levels, or $450 million. In our previous analysis, we argued that Moody’s economic moat has shrunk over the last couple of years, as its credit ratings for ...

Greenlight's Einhorn says shorting Moody's | Markets | Markets News
reuters.com 5/28/2009 — * Greenlight Capital's Einhorn says shorting Moody's stock * Greenlight says credit ratings lost credibility * Einhorn says Moody's has negative net worth $900 mln * $7.2 mln Allied Capital short-sale gain goes to charity By Joseph A. Giannone NEW ...

David Einhorn versus Warren Buffet on Moody's (MCO)
fundmymutualfund.com 5/28/2009 — Battle Royale in Moody's ( MCO ) it appears after David Einhorn engages on the short side versus Warren Buffet's long position. For those not familiar with David Einhorn he is a youngish hedge fund manager who exposed Lehman Brothers in a very public way - that said his hedge fund lost 22% last ...

Credit Crisis Indicators
calculatedriskblog.com 4/3/2009 — Here is a quick look at a few credit indicators: First, the British Bankers' Association reported that the three-month dollar Libor rates were fixed at 1.166%. The LIBOR was at 1.30% a couple of weeks ago, and peaked at 4.81875% on Oct 10, 2008. This ...

Blaming Moody’s
ritholtz.com 12/7/2008 — “These errors make us look either incompetent at credit analysis or like we sold our soul to the devil for revenue, or a little bit of both.” — A Moody’s managing director responding anonymously to an internal management survey, September 2007.  ...

Buffett Is Unusually Silent on Rating Agencies
dealbook.blogs.nytimes.com 3/22/2009 — In his annual Berkshire Hathaway letter, Warren E. Buffett recently urged investors to pose tough questions at the shareholders meeting in May. Here is one that The New York Times's David Segal says is on the mind of some Buffett watchers: When are ...

NY insurance official raises concerns over Moody's
reuters.com 9/21/2009 — Lilla Zuill NEW YORK (Reuters) - An official in the New York Insurance Department says insurance regulators from across the country are expected to discuss dropping Moody's Investors Service from a list of acceptable rating organizations at a meeting ...

Alt-A Losses Outstripping Expectations, Moody’s Says : HousingWire || financial news for the mortgage market
housingwire.com 11/20/2008 — Severe delinquencies on recent-vintage Alt-A RMBS are quickly getting worse than expected, Moody’s Investors Service said earlier this week; the rating agency said worsening trends in Alt-A have forced it to undertake a revision of lifetime loss ...

CRE and Residential RE Prices
calculatedriskblog.com 6/26/2009 — Here is the CRE report mentioned yesterday, from RC Analytics : Moody’s/REAL Commercial Property Price Indices, June 2009 The Moody’s/REAL National All Property Type Aggregate Index for April measures 135.31, a decrease of 8.6% from the previous ...

Bond Trading Highest Since ‘07
calculatedriskblog.com 2/20/2009 — From Bloomberg: Bond Trading Highest Since ‘07 as Credit Freeze Thaws Corporate bond trading in the U.S. is rising to the highest level in two years, adding to evidence that credit markets are thawing even with stocks off to their worst start since ...

A Recession in Dog Years — The Big Money 6/25/2009
Combine Japanese cultural tendencies toward formality, politesse, and indirection with the usual central banker's love of opacity and econo-jargon, and you'd expect that a meeting with the deputy governor of the Bank of Japan would be a one-way ...

The recession hits Fininvest: Relegated — The Economist: Full print edition 6/25/2009
Silvio Berlusconi’s business empire faces leaner times WHEN Silvio Berlusconi, Italy’s prime minister, bought AC Milan, the football team he had supported as a boy, in 1986, it seemed a dream come true. But the team, for many years a ...