amsterdamtrader — 2009 — August

Posts from August 2009

Van der Moolen follow up

Written by Jack. Posted at 6:30 pm on August 20th, 2009
Last short post on the fall of Van der Moolen ignited an explosion of comments. Between the funny jokes and vicious attacks more valuable inside information was published than any single editor could think of. This website can’t handle more than 200 comments as I discovered.

The news on the ban of this website in the office of Van der Moolen seems to be true. The rumour of the dynamic duo Den Drijver and Kroon visiting the match Real Madrid – Barcelona three months ago with a hired private jet returned, but still can’t be verified. They both seem to be unwilling to return my calls. If only a minor part of the rumours are true – there could be legal action against the former chairman.

It’s summertime, not much else is happening in the market apart from some Volkswagen moves. News on Van der Moolen is supplied on a daily basis, and new developments or insights can be dropped in the comments.

(picture is based on the comments, not research or verified facts)

Posted at 6:30 pm on August 20th, 2009. 167 comments... »
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Sinking ship Van Der Moolen

Written by Jack. Posted at 6:18 pm on August 10th, 2009
Most commenters haven’t been very optimistic on Van der Moolen’s chance of survival, and neither has this website in general. Can’t remember writing anything positive on VDM (don’t blame me for that). But every trader in Amsterdam will share the feeling a true icon from the past is gone.

However, the company used to be a very insignificant player in the market after the turn of the last century. The attention may be a little bit too much for a tiny small-cap. After all, it hasn’t got many employees, clients or suppliers. Just a history and an exchange listing.

When all evening newspapers open with the news of VDM’s demise, there isn’t much room for Amsterdamtrader.com for many new valuable insights.

Just three strange little things.

1. The company is a bleeder because of a truckload of overhead costs, and desperately in need of cash. The sale of units is considered. But what’s left after money generating units are sold?

2. If the company is going down because of lousy management (as has been reported), there could be a case for legal action against them. The former ceo Richard den Drijver won’t win the popularity contest in the ranks of the traders (he has been described as a “crook”). The fact the supervisory board decided the firm isn’t going to meet it’s short term obligations shortly after getting rid of the one-man-board indicates there’s something really wrong.

3. Silly reasons for going bankruptcy. Relocating to a new office sounds a little odd for going down. A share repurchase is absolutely a hilarious reason to go out of business.

At least there’s one positive sign. The company managed to keep a secret. The share price was even going up in the week before the announcement.

Posted at 6:18 pm on August 10th, 2009. 206 comments... »
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Traders leaving VDM

Written by Jack. Posted at 9:22 am on August 2nd, 2009
The Financieele Dagblad this weekend opened with a story on the frontpage of traders leaving the firm in vast numbers. A third of the derivative traders left the company in Amsterdam as a cut in their bonus deal wasn’t acceptable for them. Their London office saw ten traders leaving the firm two months ago for the same reason. Reading through the comments earlier on this website the news was whispering in the air for some time.

In public opinion receiving a bonus while working in the financial industry is esteemed at the same moral level as molesting little children : evil. Leaving your company because the bonus isn’t sufficient is even worse. Guess there’s a little more going on than just a simple bonus deal. Comments are open for suggestions..

Posted at 9:22 am on August 2nd, 2009. 58 comments... »
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