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📒Fire Sale ✍ Sara Paretsky
✏Fire Sale Book Summary : Coaching the basketball team at her former South Chicago high school, V.I. Warshawski investigates sabotage at the site of the area's largest employer, where an explosion has killed the facility's owner and launched a dangerous family rivalry.
📒Fire Sale ✍ Philip McKernan
✏Fire Sale Book Summary : The ads are everywhere. US real estate at rock-bottom prices. Posh homes in gated communities devalued 50% from a year ago. US real estate agents with nowhere to go in their own backyard are targeting Canada and other countries to attract buyers to the land of the foreclosed and the home of the bushwhacked. As the US housing market remains in crisis and foreign currencies increase in strength relative to the US dollar, foreign investment into real estate in America is reaching new highs, particularly in the sunbelt states. The opportunity to invest in these properties, either as an investment property or a vacation home, is made even more attractive in light of the record number of distressed properties (AKA foreclosures) on the market or in the pipeline due to high levels of unemployment in the US, high consumer debt, and ongoing fallout from the subprime crisis. But what does "opportunity" really look like? What due diligence must an investor do to buy with confidence? What are the pitfalls? The legal and tax considerations? While the property and price may look good on paper, how can you ensure that your investment is a sound one? Philip McKernan and his crack team of experts teach you everything you need to know about investing in distressed properties in the United States, including sourcing distressed properties; building the right team of real estate agent, finance expert, lawyer, and accountant; understanding the tax and legal issues; and having an exit strategy. Make sure you're getting the best deals possible and avoiding any nasty surprises. Be prepared and aware, with Fire Sale: How to Buy US Foreclosures.
📒Antiques Fire Sale ✍ Barbara Allan
✏Antiques Fire Sale Book Summary : That local theater diva of a certain age, Vivian Borne—a.k.a. Brandy’s Mother—is sheriff of Serenity County now, but still hot on the trail of precious antiques. On a tour of the historic Wentworth Mansion, the two dedicated dealers are aglow at the treasure trove of priceless objects . . . never dreaming everything will turn to ashes, hours later. A charred corpse in the ruins is identified as the mansion’s caretaker, a one-time flame of Vivian’s. But Tony Cassato—Brandy’s beau and Serenity’s Chief of Police—throws cold water on Sheriff Vivian’s suspicions of murder. Then Brandy spots a certain familiar item for sale on the Internet, and Mother suspects the fire is just a smoke screen. When their doggie detective, Sushi the shih tzu, sniffs out a second body in the woods, Mother and Brandy turn up the heat on a homicidal torcher. Because any killer who takes on the Borne girls is playing with fire. Don’t miss Brandy Borne’s tips on buying and selling antiques on the internet! Visit us at kensington.com
📒Inefficient Fire Sales In Decentralized Asset Markets ✍ Mr.Ehsan Ebrahimy
✏Inefficient Fire Sales in Decentralized Asset Markets Book Summary : Classic models of fire-sales that emphasize liquidity-constrained natural buyers can-not fully account for the asset fire-sales during the Financial Crisis of 2008. I present a model to demonstrate that fire-sales may happen even when there is a sizable pool of natural buyers and in the absence of asymmetric information, due to a coordina-tion failure among buyers. In particular, I show that when trade is decentralized and participation is endogenous, constrained asset demand and liquidity needs that are ex-pected to increase over time create complementarity among buyers’ decisions to wait. This complementarity makes competitive markets prone to coordination failures and fire-sales which may be inefficient. I also discuss various policy options to eliminate the risk of fire-sales in such a setup.
📒Fire Sales And The Financial Accelerator ✍ Woon Gyu Choi
✏Fire Sales and the Financial Accelerator Book Summary : During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates in a dynamic stochastic general equilibrium model of the financial accelerator. Consistent with empirical evidence, we find that recovery rates are pro-cyclical when collateral is costly to liquidate. Through links between recovery rates, risk premia, and default risk, the model generates an additional liquidity spiral, a feedback loop for the financial accelerator. We illustrate how collateral liquidation and monetary policy alter the impacts of a financial shock. We also show that a government subsidy on collateral liquidity and the endogenous accumulation of liquidity inventory help dampen the liquidity spiral by shoring up recovery rates.
✏The Fire sale Channels of Universal Banks in the European Sovereign Debt Crisis Book Summary : We use a unique security-level data set to analyze correlations in bond trading of banks, their respective retail customers and their affiliated mutual funds. Matching banks' proprietary holdings with the holdings of their funds and their retail customers for the period 2009-2016 at the security level, we find evidence that banks sold off risky euro-area sovereign bonds to both their retail customers and their affiliated mutual funds (particularly their public funds) during the European sovereign debt crisis. Overall, this enabled banks with affiliated mutual funds to sell off larger amounts of their risky sovereign bond holdings, while bank-affiliated mutual funds acquired more risky sovereign bonds compared to their unaffiliated peers. The larger the risky sovereign bond position a fund acquired from its parent bank, the lower are the fund's short-term raw returns controlling for the risky bonds the fund overall acquired. Our findings show that banks use their customers portfolio and their affiliated funds as liquidity provider when they sell off their risk bonds without paying the funds the adequate liquidity premium. On the one hand, this points to a severe conflict of interest between banks' own account trading and their asset and wealth management services. On the other hand, it highlights that the severity of fire-sale contagion depends on the organizational structure of the financial sector.
📒Nearsighted Justice ✍ Dan Bernhardt
✏Nearsighted Justice Book Summary :
📒Fire Sale Clears Way For New Look Richmond ✍ Martin Boulton
✏Fire Sale Clears Way for New look Richmond Book Summary :
📒Overbidding Versus Fire Sales In Bankrupty Auctions ✍ Bjørn Espen Eckbo
✏Overbidding Versus Fire sales in Bankrupty Auctions Book Summary :
✏American Druggist and Pharmaceutical Record Book Summary :