Over the last few days, Elon Musk piled on the crazy by doubling down on his pedophile accusations against one of the British divers involved in rescuing the Thai football team that was trapped in a cave, then by smoking marijuana live on the air during a radio interview. In response, Tesla’s stock (TSLA) has been in what Forbes calls, “freefall” … but that’s not the most worrying thing. The bond price is. I’m no expert on stocks and bonds and markets, so I’ll simply quote Forbes’ Daryl Jones, below, as he seems to sum it up rather nicely. Tesla’s stock has been in freefall since Musk’s now infamous “Funding Secured” tweet about taking the company private at $420 per share. The larger concern however is in the bond market. The $1.8 billion 5.3% bonds that Tesla issued a year ago have now hit 84 cents on the dollar and are yielding 8.4%. Meanwhile, Tesla 7-year CDS (indicative of the cost to insure against … [Read more...] about Ignore the Elon Musk Meltdown and Watch the TSLA Bond Market
Equities markets
Baltimore-based eNeura will begin marketing migraine treatment device to patients
eNeura Inc., a Baltimore-based medical technology company, plans to expand the commercial marketing of its migraine treatment device with the help of a $17 million investment round led by Camden Partners Nexus, a Baltimore-based private equity firm.Proceeds of the financing will be used to give more patients access to the company’s sTMS mini neuromodulation device, which treats and prevents migraines by sending magnetic pulses into the brain, eNeura said Tuesday.Besides Camden Partners, co-founded by former mayoral candidate David L. Warnock, other local investors include the Abell Foundation, entrepreneur David Oros, Marc Blum and the Fischell family, who also founded the company.Migraine patients in the past have had to depend on combinations of pharmaceutical drugs, all of which have possible side effects, said David K. Rosen, eNeura’s president and CEO.“This is an option that the doctor can recommend for the treatment and prevention of migraines,” Rosen … [Read more...] about Baltimore-based eNeura will begin marketing migraine treatment device to patients
Permian pipelines trade hands in $1.75B private equity deal
Jordan Blum, Houston Chronicle Published 1:13 pm, Monday, April 9, 2018 Photo: Daniel Acker / Bloomberg Image 1of/1 CaptionClose Image 1 of 1 Pipelines are increasingly carrying crude and natural gas bound for foreign markets. Pipelines are increasingly carrying crude and natural gas bound for foreign markets. Photo: Daniel Acker / Bloomberg Permian pipelines trade hands in $1.75B private equity deal 1 / 1 Back to Gallery A private equity fund managed by Morgan Stanley is paying $1.75 billion in cash to buy big into Permian Basin pipeline assets. Morgan Stanley Infrastructure Partners is acquiring Fort Worth-based Brazos Midstream and its pipeline network from Boston-based private equity outfit Old Ironsides Energy. The deal is through a Morgan Stanley investment fund called North Haven Infrastructure … [Read more...] about Permian pipelines trade hands in $1.75B private equity deal
Jumping market jitters
IMMEDIATE gratification, immediate data and nonsense news, immediate response. The new world? The oxymoron of ‘smart' phones is lost on me. If they were smart, or as smart as a teacher, they would tell us to turn them off.I hadn't thought at all about how people use their phones in relation to investments until I recently saw them used to check up on investment values on an hour by hour basis and it dawned on me the stress that must cause, especially in light of recent market movements.For the record, I do not do that with my own money. There is no point. I would also not be around for long. What risks does excessive monitoring cause? I've heard many statements regarding markets ‘going' up, or ‘going' down. As we've mentioned before, that can often lead to knee-jerk reactions where you jump a queue at completely the wrong time, and indeed this was covered in the last quarter for the same reason.Markets never, ever use the present participle. They are never … [Read more...] about Jumping market jitters
China retaliates, slaps duties on U.S. soybeans, planes; markets skid
NEW YORK (Reuters) - China hit back quickly on Wednesday against the Trump administration’s plans to impose tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key U.S. imports including soybeans, planes, cars, beef and chemicals. FILE PHOTO: Soybeans being sorted according to their weight and density on a gravity sorter machine at Peterson Farms Seed facility in Fargo, North Dakota, U.S., December 6, 2017. REUTERS/Dan Koeck/File Photo COMMENTS: JOHN STOLTZFUS, CHIEF INVESTMENT STRATEGIST, OPPENHEIMER ASSET MANAGEMENT, NEW YORK “At this point, when you look at the broad nature of the decline, it shows elements of a ‘tariff tantrum’ happening in the market. There’s not a trade war going on at this point. Both sides are firing shots across the bow. They’re responding to each other with heavy-handed tactics. It’s not so deep as to cause the reaction the market is taking right now. It’s … [Read more...] about China retaliates, slaps duties on U.S. soybeans, planes; markets skid