Tag: THIS

The High Yield Bond Market Has Never Been This Decoupled From Reality #small #business

#bond market news

#

The High Yield Bond Market Has Never Been This Decoupled From Reality

Recovery rates in 2016 are extremely low.. for high-yield bonds, the recovery rate YTD is 10.3% (10.5% senior secured and 0.5% senior subordinate), which is well below the 25-year annual average of 41.4%. Final recovery rates in 2015 for high-yield bonds were 25.2%, compared with recoveries of 48.1%, 52.7%, 53.2%, 48.6%, and 41.0% in full-years 2014, 2013, 2012, 2011, and 2010, respectively. Notably, average recoveries for Energy and Metals/Mining bonds were 18.3% and 20.0%, respectively, which weighed down overall high-yield recovery rates. Excluding the troubled commodity sectors, high-yield recoveries were a more respectable 46.1% (32.1% Ex-Energy only ). As for loans, recovery rates for first-lien loans thus far in 2016 are 24.5%, compared with their 18-year annual average of 67.2%. Final 2015 1st lien recoveries were 48.2%, while average recoveries for Energy and Metals/Mining 1st lien loans were 44.1% and 38.4%, respectively.

The record collapse in recovery rates is shown below.

It is not just JPM who points out what we first noticed in January: in an interview with Goldman s Allison Nathan, credit guru Edward Altman reiterates that same warning, although he focuses on the 2015 recovery rate which already is more than two times higher than that seen in 2016 defaults:

Allison Nathan: What is your view on recovery rates?

Edward Altman: Our approach to recovery rates is not centered on sectors. What we ve looked at carefully over 25 years is the correlation between default rates and recovery rates. As you would expect, when the former rise to high or above-average levels, you always observe the latter dropping to below-average levels. This strong inverse relationship is as much a function of supply and demand as it is of company fundamentals. So if we are expecting a higher default rate in 2016 and even 2017, then we would expect a lower recovery rate. Already in 2015, the recovery rate dropped dramatically relative to 2014 even though the default rate was below average; we saw a 33-34% recovery rate versus the historical average of 45%, measured as the price just after default. This is primarily due to the heavy concentration of energy companies whose recovery rates depend on their ability to liquidate their assets at reasonable prices, which in turn depends on the price of oil. Low oil prices have pushed recovery rates in the energy sector below 25% and even into the single digits for some companies. And that s going to continue. So this year I expect recovery rates much below average, producing a double-whammy of high default rates and low recovery rates for credit investors.

Since then recovery rates have dropped even further. BUT high-yield bond prices have surged on the back of ECB, BOE buying and the knock-on effects of $200 billion per month of experimentation by the world s central-planners.

Simply put, the revelation of a default event exposes the vast gap between real asset values (upon liquidation or bankruptcy) and the artificially supported prices seen in bond markets .

In the 30 year life of the so-called junk bond market, the chasm between reality and central-planner-created markets has never been wider.


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Your access to this site has been limited #women #business #loans


#business partnership

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Which RN program (full-time) to choose in the East Bay area #bachelor, #college, #degree,

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Which RN program (full-time) to choose in the East Bay area

Quote from turbohound

I’m an East Bay local also looking into RN programs. I’m looking at your list as well as Ohlone and Modesto. Chabot has expanded their program to allow for ten more students at the Las Positas campus. Also, the south bay programs are accessible via the ACE train. I’m volunteering at Valleycare to get a feel for nursing. Any idea what the wages are like?

Hi Lizz and turbohound !

Thanks for your messages.

You mention Ohlone college, which I visited. It’s a beautiful campus, but a little far away for me. I don’t know Modesto. Chabot college I heard is a very good college. I don’t know what the wages are like unfortunately, but you may want to post a new thread asking that question.

I’ve just been admitted to San Francisco State University, so I’ve decided that’s where I’m going to go. I’m excited! I was not sure whether to get a BSN or an ADN, because I’m already 46; but I think SFSU is a very attractive place, although a little far away. CAL-State Hayward is closer to my home, but they’re only going to give their answers in mid-June or July, and students at my colleges (Peralta) mentioned that SFSU is a very neat place and that this is what I should choose.

I was thinking earlier that CAL-State Hayward might be better, because they have a higher passing rate at the NCLEX exam, but someone told me that the reason is that they require their students to have an exam at their university first, before trying the Board State exam. I think CAL-State Hayward is a very good university nevertheless. Contra Costa College seems to be pretty high on the list of success at NCLEX exam too. They did not admit me, because they had some prerequisites I did not meet like two courses in physical education and child development. I was admitted at Merritt college, but heard that their present ADN program is too tough. A student told me that only 17 students are now left in the second year of their ADN program.

Thanks for responding

I got my MBA at Hayward, so I don’t want to do another long program. I’m looking at ADN programs due to my age (38). That’s so cool that you’ve been accepted. I’m so jealous. Maybe I’ll see you at Valleycare in Livermore sometime.

Quote from Vivi

Hi Lizz and turbohound !

Thanks for your messages.

You mention Ohlone college, which I visited. It’s a beautiful campus, but a little far away for me. I don’t know Modesto. Chabot college I heard is a very good college. I don’t know what the wages are like unfortunately, but you may want to post a new thread asking that question.

I’ve just been admitted to San Francisco State University, so I’ve decided that’s where I’m going to go. I’m excited! I was not sure whether to get a BSN or an ADN, because I’m already 46; but I think SFSU is a very attractive place, although a little far away. CAL-State Hayward is closer to my home, but they’re only going to give their answers in mid-June or July, and students at my colleges (Peralta) mentioned that SFSU is a very neat place and that this is what I should choose.

I was thinking earlier that CAL-State Hayward might be better, because they have a higher passing rate at the NCLEX exam, but someone told me that the reason is that they require their students to have an exam at their university first, before trying the Board State exam. I think CAL-State Hayward is a very good university nevertheless. Contra Costa College seems to be pretty high on the list of success at NCLEX exam too. They did not admit me, because they had some prerequisites I did not meet like two courses in physical education and child development. I was admitted at Merritt college, but heard that their present ADN program is too tough. A student told me that only 17 students are now left in the second year of their ADN program.

Thanks for responding

Quote from turbohound

I got my MBA at Hayward, so I don’t want to do another long program. I’m looking at ADN programs due to my age (38). That’s so cool that you’ve been accepted. I’m so jealous. Maybe I’ll see you at Valleycare in Livermore sometime.

An MBA, that’s pretty good! If I had one, I think I would go for the nurse practitioner program directly, which is two years like the ADN program. Because you already have a masters degree, I am afraid that SFSU or CAL-State Hayward (?) would not let you apply for another masters degree in nursing. You could always ask if you thought that was a good idea for you. You could apply to Samuel Merritt though. They are expensive, but I was told they’re a very good school, and Kaiser and West Catholic Hospital (I’m not sure what the name is) would reimburse students for their loans.

If you’re unsure, you could apply for both ADN and Master programs (have you thought of physician’s assistant at Stanford/Foothill college, and Samuel Merritt). It’s also a 2 years program.

I forgot to mention in my previous e-mail that Chabot college (ADN program) selects students through a lottery at the end of April (need to apply in January).

All the best to you in your endeavors!

Apr 17, ’04 by suzanne4

Quote from Vivi

An MBA, that’s pretty good! If I had one, I think I would go for the nurse practitioner program directly, which is two years like the ADN program. Because you already have a masters degree, I am afraid that SFSU or CAL-State Hayward (?) would not let you apply for another masters degree in nursing. You could always ask if you thought that was a good idea for you. You could apply to Samuel Merritt though. They are expensive, but I was told they’re a very good school, and Kaiser and West Catholic Hospital (I’m not sure what the name is) would reimburse students for their loans.

If you’re unsure, you could apply for both ADN and Master programs (have you thought of physician’s assistant at Stanford/Foothill college, and Samuel Merritt). It’s also a 2 years program.

I forgot to mention in my previous e-mail that Chabot college (ADN program) selects students through a lottery at the end of April (need to apply in January).

All the best to you in your endeavors!

An MBA is not a Master’s degree in nursing, so you would be able to get an MSN. They are not related to each other in any way. Hope that this helps.

Quote from chad75

sorry about resurecting this old thread but i’m considering moving to the sf area, i am an lpn wanting to fastrack. are there long waiting list for the various fastrack or just general asn/adn programs in sf?

the next rn adn program that starts the soonest for which you could apply is at the city college in san francisco. www.ccsf.edu/
you have to go there on the first day that you are allowed to apply (sometimes in august) – you could go now and get all the info. their 2 year program starts in january 2005. you most likely won’t be able to get any info by phone or to register for nursing by mail either.

for other adn programs, i heard that college of marin is good www.marin .cc.ca.us/
. as well as chabot college in hayward chabot web.clpccd.cc.ca.us/
chabot does a lottery however to select qualified applicants, and they rejected me, because i was not a in-district resident (i think they made a mistake); but they accepted someone else who leaves in alameda.

and contra costa college in san pablo www.contracosta .cc.ca.us

from all the things i heard, and their results at the nclex exams, i do not recommend merritt college in oakland (not to confuse with samuel merritt in oakland, which is a good program).

these may not be the fastest program in your situation, because you say you’re already an lpn; so i don’t know what programs are available in your situation. i believe that for bachelor degrees in nursing, there are faster programs for lpn, so it may be worth it to apply to bachelor programs.

samuel merritt in oakland www.samuelmerritt .edu may still accept applications for the fall 2004, and may have a special program for lpn, i don’t know. samuel merritt is associated with holy names college in oakland, or st mary’s college in moraga where you’d have to take some general education classes (you don’t have to be catholic.) they’re expensive, but good, and i heard that several employers, incl. kaiser and a hospital with a catholic name (catholic west or something like that) offer to reimburse education loans when they hire.

you may also want to check what kind of programs ucsf in san francisco has for lpns at nurseweb.ucsf .edu they’re also expensive, but apparently very good.

the other bachelor in nursing programs that i know are at san francisco state university, where i have been accepted. www.sfsu.edu
and csu hayward www.csuhayward.edu (there is a pre-entrance nln exam to take).

when you apply, make sure to fill out two applications one for the school, and one for the nursing program.

if anyone studied nursing at hayward university or san francisco state university, i’d be interested to know if they liked it or not, and why.

for more info on nursing programs in california, you can go to:


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Auburn University #auburn #university, #auburn, #alabama, #war #eagle, #this #is #auburn


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The History

The History

Auburn University today is a comprehensive land, sea and space grant institution among the few that hold that distinction occupying more than 1,840 acres and helping fulfill the dreams of nearly 25,000 students.

The university began, though, as the small, more humble East Alabama Male College, which was chartered in 1856 and opened its doors in 1859 as a private liberal arts institution.

From 1861 to 1866 the college was closed because of the Civil War. The college had begun an affiliation with the Methodist Church before the war. Due to dire financial straits, the church transferred legal control of the institution to the state in 1872, making it the first land-grant college in the South to be established separate from the state university. It thus became the Agricultural and Mechanical College of Alabama.

A land-grant college or university is an institution that has been designated by its state legislature or Congress to receive the benefits of the Morrill Acts of 1862 and 1890. The original mission of these institutions, as set forth in the first Morrill Act, was to teach agriculture, military tactics, and the mechanical arts as well as classical studies so that members of the working classes could obtain a liberal, practical education.

Women were admitted in 1892, making Auburn the oldest four-year, coeducational school in the state and the second-oldest in the Southeast. In 1899, the name was again changed to the Alabama Polytechnic Institute. In 1960, the school officially acquired the name it has long been called and one more in keeping with its location, size, and mission Auburn University. The institution has experienced its greatest growth since World War II, and now has more than 250,000 graduates.

Auburn University at Montgomery was established as a separately accredited campus in 1967. The institution has developed rapidly, especially since moving to a 500-acre campus east of Montgomery in 1971. Current enrollment at AUM is about 5,200.

Chartered in 1856, Auburn University opened in 1859 and became affiliated with the Methodist Church.

Throughout the years, the institution has had four official names:

  • East Alabama Male College (1856-72)
  • Agricultural and Mechanical College (1872-99)
  • Alabama Polytechnic Institute (1899-1960)
  • Auburn University (1960-present)

Auburn’s current colleges and schools and dates of inception are:

  • College of Agriculture 1872
  • Samuel Ginn College of Engineering 1872
  • Graduate School 1872
  • James Harrison School of Pharmacy 1885
  • College of Veterinary Medicine 1907
  • College of Architecture, Design Construction 1907
  • College of Education 1915
  • College of Human Sciences 1916
  • College of Business 1967
  • School of Nursing 1979
  • School of Forestry and Wildlife Sciences 1984
  • College of Sciences and Mathematics 1986
  • College of Liberal Arts 1986

* In 1986, the colleges of Liberal Arts and Sciences Mathematics were created from the former schools of Arts Sciences, Agriculture and Biological Sciences, and Architecture and Fine Arts.

Last updated: 09/14/2016


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Analysts give their top stocks to watch this year #business #advisor


#stocks to watch

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Analysts give their top stocks to watch this year

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At last investors can put the 2015-16 financial year behind them and concentrate on 2016-17 when Australian companies are expected to start lifting profits once more.

Better still, while the year just ended may have been lacklustre overall for listed companies – and a good deal less than lacklustre for some – the recent reporting season has thrown up several stocks that warrant placement on shareholders’ radar screens.

The year to June 30 was “not great” for corporate profits, in the words of Shane Oliver, head of investment strategy and chief economist at AMP Capital.

Earnings per share tumbled about 8 per cent, driven by a 47 per cent slump in resources profits and a 4 per cent decline in bank profits.

Credit Suisse analyst Richard Hitchens notes that revenue growth was “very hard” to come by, while the trend for cost cutting dried up, taking a toll on margins.

Related Quotes

Looking up

But this year should be a better story.

As Oliver notes, across the market as a whole profits are expected to rise about 8 per cent, thanks to the improved outlook for the resources sector, higher commodity prices, improved supply conditions and cost cutting.

Several companies whose top line is dependent on the health of the Australian economy complained that the drawn-out election campaign dented consumer confidence in the June quarter, which should augur well for the current year.

Further, companies in the S
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Chris Brogan says the Most Successful Small Businesses Do THIS #business #schools


#most successful small businesses

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Chris Brogan says the Most Successful Small Businesses Do THIS

Many people work 9-to-5 jobs for 30 years — praying only for the day they can retire.

And they complain the whole time on Facebook about how much they hate their jobs.

Yuck! I can’t fathom that.

I love working for successful small businesses. And luckily, I don’t have a regular job.

But what does it take to REALLY succeed as an entrepreneur?

Chris Brogan says the Most Successful Small Businesses Do This

And during a recent interview with MSNBC, Chris dropped some serious knowledge about staying weird making your customers feel like they belong to your tribe.

Pay attention here:

One of Brogan’s best small business tips is that you’ll attract opportunities by standing out being different.

Follow outgoing examples from free-spirited entrepreneurs like Richard Branson, he says.

Here are 4 other juicy nuggets from this stellar interview:

1. Business is About Belonging

People want to be part of a tribe or community.

2. Share the Passion Not Just the Product

Passion drives folks to do what they love. How can you leverage that passion for your business?

3. Make Your Buyer the Hero

Discuss how your product or service makes your customers heroes — not too promotional, though.

4. Tell Their Story, Not Yours

Our product helped Johnny make $100k this year.


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The High Yield Bond Market Has Never Been This Decoupled From Reality #personal #business

#bond market news

#

The High Yield Bond Market Has Never Been This Decoupled From Reality

Recovery rates in 2016 are extremely low.. for high-yield bonds, the recovery rate YTD is 10.3% (10.5% senior secured and 0.5% senior subordinate), which is well below the 25-year annual average of 41.4%. Final recovery rates in 2015 for high-yield bonds were 25.2%, compared with recoveries of 48.1%, 52.7%, 53.2%, 48.6%, and 41.0% in full-years 2014, 2013, 2012, 2011, and 2010, respectively. Notably, average recoveries for Energy and Metals/Mining bonds were 18.3% and 20.0%, respectively, which weighed down overall high-yield recovery rates. Excluding the troubled commodity sectors, high-yield recoveries were a more respectable 46.1% (32.1% Ex-Energy only ). As for loans, recovery rates for first-lien loans thus far in 2016 are 24.5%, compared with their 18-year annual average of 67.2%. Final 2015 1st lien recoveries were 48.2%, while average recoveries for Energy and Metals/Mining 1st lien loans were 44.1% and 38.4%, respectively.

The record collapse in recovery rates is shown below.

It is not just JPM who points out what we first noticed in January: in an interview with Goldman s Allison Nathan, credit guru Edward Altman reiterates that same warning, although he focuses on the 2015 recovery rate which already is more than two times higher than that seen in 2016 defaults:

Allison Nathan: What is your view on recovery rates?

Edward Altman: Our approach to recovery rates is not centered on sectors. What we ve looked at carefully over 25 years is the correlation between default rates and recovery rates. As you would expect, when the former rise to high or above-average levels, you always observe the latter dropping to below-average levels. This strong inverse relationship is as much a function of supply and demand as it is of company fundamentals. So if we are expecting a higher default rate in 2016 and even 2017, then we would expect a lower recovery rate. Already in 2015, the recovery rate dropped dramatically relative to 2014 even though the default rate was below average; we saw a 33-34% recovery rate versus the historical average of 45%, measured as the price just after default. This is primarily due to the heavy concentration of energy companies whose recovery rates depend on their ability to liquidate their assets at reasonable prices, which in turn depends on the price of oil. Low oil prices have pushed recovery rates in the energy sector below 25% and even into the single digits for some companies. And that s going to continue. So this year I expect recovery rates much below average, producing a double-whammy of high default rates and low recovery rates for credit investors.

Since then recovery rates have dropped even further. BUT high-yield bond prices have surged on the back of ECB, BOE buying and the knock-on effects of $200 billion per month of experimentation by the world s central-planners.

Simply put, the revelation of a default event exposes the vast gap between real asset values (upon liquidation or bankruptcy) and the artificially supported prices seen in bond markets .

In the 30 year life of the so-called junk bond market, the chasm between reality and central-planner-created markets has never been wider.


Tags : , , , , , , , , , , ,

Chris Brogan says the Most Successful Small Businesses Do THIS #investor #business #daily


#most successful small businesses

#

Chris Brogan says the Most Successful Small Businesses Do THIS

Many people work 9-to-5 jobs for 30 years — praying only for the day they can retire.

And they complain the whole time on Facebook about how much they hate their jobs.

Yuck! I can’t fathom that.

I love working for successful small businesses. And luckily, I don’t have a regular job.

But what does it take to REALLY succeed as an entrepreneur?

Chris Brogan says the Most Successful Small Businesses Do This

And during a recent interview with MSNBC, Chris dropped some serious knowledge about staying weird making your customers feel like they belong to your tribe.

Pay attention here:

One of Brogan’s best small business tips is that you’ll attract opportunities by standing out being different.

Follow outgoing examples from free-spirited entrepreneurs like Richard Branson, he says.

Here are 4 other juicy nuggets from this stellar interview:

1. Business is About Belonging

People want to be part of a tribe or community.

2. Share the Passion Not Just the Product

Passion drives folks to do what they love. How can you leverage that passion for your business?

3. Make Your Buyer the Hero

Discuss how your product or service makes your customers heroes — not too promotional, though.

4. Tell Their Story, Not Yours

Our product helped Johnny make $100k this year.


Tags : , , , , , , , , ,

Your access to this site has been limited #business #card


#business partnership

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The High Yield Bond Market Has Never Been This Decoupled From Reality #business #reports


#bond market news

#

The High Yield Bond Market Has Never Been This Decoupled From Reality

Recovery rates in 2016 are extremely low.. for high-yield bonds, the recovery rate YTD is 10.3% (10.5% senior secured and 0.5% senior subordinate), which is well below the 25-year annual average of 41.4%. Final recovery rates in 2015 for high-yield bonds were 25.2%, compared with recoveries of 48.1%, 52.7%, 53.2%, 48.6%, and 41.0% in full-years 2014, 2013, 2012, 2011, and 2010, respectively. Notably, average recoveries for Energy and Metals/Mining bonds were 18.3% and 20.0%, respectively, which weighed down overall high-yield recovery rates. Excluding the troubled commodity sectors, high-yield recoveries were a more respectable 46.1% (32.1% Ex-Energy only ). As for loans, recovery rates for first-lien loans thus far in 2016 are 24.5%, compared with their 18-year annual average of 67.2%. Final 2015 1st lien recoveries were 48.2%, while average recoveries for Energy and Metals/Mining 1st lien loans were 44.1% and 38.4%, respectively.

The record collapse in recovery rates is shown below.

It is not just JPM who points out what we first noticed in January: in an interview with Goldman s Allison Nathan, credit guru Edward Altman reiterates that same warning, although he focuses on the 2015 recovery rate which already is more than two times higher than that seen in 2016 defaults:

Allison Nathan: What is your view on recovery rates?

Edward Altman: Our approach to recovery rates is not centered on sectors. What we ve looked at carefully over 25 years is the correlation between default rates and recovery rates. As you would expect, when the former rise to high or above-average levels, you always observe the latter dropping to below-average levels. This strong inverse relationship is as much a function of supply and demand as it is of company fundamentals. So if we are expecting a higher default rate in 2016 and even 2017, then we would expect a lower recovery rate. Already in 2015, the recovery rate dropped dramatically relative to 2014 even though the default rate was below average; we saw a 33-34% recovery rate versus the historical average of 45%, measured as the price just after default. This is primarily due to the heavy concentration of energy companies whose recovery rates depend on their ability to liquidate their assets at reasonable prices, which in turn depends on the price of oil. Low oil prices have pushed recovery rates in the energy sector below 25% and even into the single digits for some companies. And that s going to continue. So this year I expect recovery rates much below average, producing a double-whammy of high default rates and low recovery rates for credit investors.

Since then recovery rates have dropped even further. BUT high-yield bond prices have surged on the back of ECB, BOE buying and the knock-on effects of $200 billion per month of experimentation by the world s central-planners.

Simply put, the revelation of a default event exposes the vast gap between real asset values (upon liquidation or bankruptcy) and the artificially supported prices seen in bond markets .

In the 30 year life of the so-called junk bond market, the chasm between reality and central-planner-created markets has never been wider.


Tags : , , , , , , , , , , ,