Everyone knows the analysts at S&P are the C students of the class, persons interested in using the S&P platform to springboard to a better higher paying gig. Inexorably, if you’re working at S&P, you’re a loser.
Speaking of which, they just placed Pershing on ‘Credit Watch Negative’.
The fuck out of here with this shit.
“We placed the ratings on CreditWatch negative to reflect the substantial drop in PSH’s NAV over the past five months as a result of very weak investment performance,” said Standard & Poor’s credit analyst Trevor Martin. NAV was $5.3 billion at the end of October 2015 and $3.8 billion on March 15, 2016, primarily because of the steep drop in Valeant Pharmaceuticals’ stock price. The Valeant stock price fell about 50% on March 15. As a result of the weakness in the portfolio since October, PSH’s debt to total assets has increased from about 15% to above 20%.
Thirsty media whore scoundrels. Leave William Albert Ackman alone already!
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Bill and Britney Spears.
Leave him alone? Fuck that shit! He was an ass on the way up with all of his publicity. Now deal with the other edge of the sword. He acts like a big boy so play like a big boy. HUbris is not one of his qualities.
I will be interesting to see who puts the squeeze on him further given the blood in the water.
Leave it to S&P to lock the barn door after the horse has already escaped.