2008: The Year of the Bear?

Originally Published In the News October 22, 2007 8:58 AM

Bear Stearns finally inked a deal, reaching a cross-shareholding deal with CITIC Securities that will create a collaboration in China and a joint venture in Hong Kong. Each firm will invest approximately $1 billion in each other, and get board representation. The deal might not strengthen Bear’s balance sheet as much as provide an opening to the fastest growing markets in the world. Bear has been lagging behind Goldman Sachs and others in tapping the Asian markets. The distractions might soon end at Bear, and they can get back to work shoring up the franchise. The employees no doubt hope 2008 brings them better luck, but fair warning, as it is the Year of the Rat in China. No Position

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