Friday, January 16, 2009

A rough week for financials

This week saw some amazing developments in the financial sector, with major banks taking a sharp turn down once again. The very solvency of some of the nation's largest banks is increasingly in question, and federal dollars are being used at an alarming rate to try to shore up the system. The final outcome is totally unknown, as are the chances of recovery in the second half of the year.

In any case, I'm just trying to figure out how this affects my portfolio companies, and lately there has not been much company-specific news to go on. One minor press release came from LDK Solar (common 2.5% of portfolio, calls 0.1%), which detailed some of their recent achievements. I'm looking forward to earnings season for more substantive data and news.