Daily Archives: March 31, 2008

Truth Hidden in Plain Sight

NEW YORK (Reuters) – Bear Stearns Cos shares fell nearly 5 percent on Friday after Chairman James Cayne, who was seen as opposing JPMorgan Chase & Co’s acquisition of the investment bank, sold his stock.

This represented $900 million plus in paper losses for Mr. Cayne and is viewed by many as signaling the end of negotiations for a better deal by Bear Stearns.

Since the JP takeover was an all stock deal why not hold the onto your Bear shares until you get the JPMorgan shares; unless of course you think JP Morgan’s stock is going down before the deal closes.

If money talks, then Mr. Cayne’s money is telling us the financial pain isn’t over yet.