Martin Ebner liquida quasi tutto

Ebner è proprio saltato, ha dovuto lasciare gran parte del suo impero alle banche svizzere il tutto è stato fatto nella massima segretezza addirittura le autorità svizzere d'accordo con le banche hanno diffuso notizie che le cose andavano bene come diversivo fino al giorno prima la cosa interessante è che aveva il 7% e rotti di ^Pirelli#^ e grazie alla assoluta mancata di trasparenza di queste cose nessuno sa se l'abbia venduta e quanto ma può essere stato lui a affondare il titolo dai massimi di maggio ^Olivetti#^ perde un -30% e Pirelli un -55 ed è sotto di un -30% dai minimi di settembre e i buy degli analisti ad es sono identici sui due titoli. Dato che non sono cavi e pneumatici a crollare così ora tanto uno dei due titoli è "sbagliato". E' banale dire che ora che Ebner ha liquidato.... -------sempre da breakingviews -------------- Switzerland: The Swiss are famed for their discretion when it comes to banking matters. And they are certainly keeping mum about the fate of Martin Ebner. A group of creditor banks has just taken control much of the celebrated Swiss investor's SFr10bn-plus portfolio to repay sour loans, leaving him with about SFr5.5bn in assets, according to a person familiar with the situation. It has also agreed to a moratorium on the SFr7bn he still owes the banks. And all with barely a word to the market. At no stage have the creditor banks - fronted by Zuercher Kantonalbank (ZKB) - or Ebner himself given any more than the barest minimum of detail. The creditor banks have not disclosed whom they are, and no details have been given of the assets that have been transferred, nor the terms and duration of the moratorium. Misleading spin has been put on events. At one stage, ZKB even suggested that it had taken control of some of Ebner's investment funds to expand its own fund management activities. Indeed, it seems that everything possible has been done to keep things under wraps. The suspicion is that ZKB has been chosen as the creditors' mouthpiece precisely because it is an unlisted public sector bank whose officers are under little obligation to disclose anything and are almost entirely unknown to the wider public. The creditor banks are understood to have parcelled out the shares they have taken so that no single member holds a disclosable position, according to a person familiar with the situation. Because of this, the market has no real visbility on what, if anything, happens to the shares - which include big stakes in the likes of Credit Suisse and Baloise - that have been nabbed. It is easy to see why this suits the banks. Sweeping everything under the carpet may spare their blushes for having imprudently lent so much money to Ebner in the first place. It may also gloss over any improprieties that have taken place. But it hardly says much for the Swiss market as a whole. The Ebner crisis exposes a number of weaknesses - not least a systemic one. It seems to have posed a risk to the banking system. The authorities clearly thought so, or they would not have cut interest rates. It has also exposed an unhealthy clubbiness in the Swiss financial system. Credit Suisse is thought to have lent more to Ebner in recent months mainly because Ebner held a big stake in the banking group. And worst of all, the mess has not even been cleared up. Under the banks' solution, stock prices must rebound or else Ebner will be back in the soup. The Swiss establishment's failure to acknowledge these glitches means they will go uncorrected. In the meantime, it has acquiesced in an untransparent act. This sits ill with its concern for financial stability. In current febrile markets, anything that smacks of a cover-up is a recipe for rumour and volatility. Modificato da - gz on 8/6/2002 0:52:35

e il signor Ebner ha anche un ph.d in finanza preso in america..a qualcosa servono allora..

A ragione o torto definito il Warren Bufferr europeo Martin Ebner è in crisi di liquidità e ha dovuto vendere negli ultimi giorni sembra (quindi sui minimi del mercato). Questo è (a posteriori queste cose le sai sempre dopo) uno dei segni che c'era gente obbligata veramente a vendere in luglio e sono sempre quelli indebitati. Ovvio che ha tolto pressione da diversi titoli. ---------------------------------------------Controversial Investor Mauled By Bear Mkt By Silvia Ascarelli and Anita Greil --------------------------------------------- ZURICH -- Swiss investor Martin Ebner became Europe's most prominent victim of the bear market. Mr. Ebner, who sees himself as Switzerland's answer to U.S. investor Warren Buffett and took on the establishment in a number of public shareholder battles, sold control of his four publicly traded investment vehicles as speculation swirled of a liquidity crisis at his firm. A spokesman for Mr. Ebner's privately held BZ Group Holding Ltd. declined to comment on the firm's finances and talk of a meeting last week with creditors. The Swiss banking regulator Wednesday said talk of a liquidity crisis at BZ Bank, a small private bank that forms part of the holding being sold, was unfounded. But the hastily arranged sale of stakes, which range from 17% to 20% of the four funds, is nonetheless an abrupt fall from grace for Mr. Ebner, who is recognizable by his trademark bow tie. The four funds, whose holdings include a number of blue-chip Swiss stocks, had been his platform for mounting challenges to the clubby world of corporate Switzerland since leaving his career in investment banking in 1991. While he is credited with engineering the sale of Union Bank of Switzerland to Swiss Bank Corp. in 1997 and forcing out Percy Barnevik as chairman of engineering giant ABB in 2001, he was unable to force pharmaceutical giant Roche Holding AG to give him a seat on its board and overhaul its two-tier share structure, despite owning 20% of the shares. An exasperated Mr. Ebner sold out to Roche's cross-town rival Novartis AG last year. The sale price of the controlling stakes, to Zuercher Kantonalbank, a large regional savings bank with a dense network of branches throughout the wealthy Zurich area, wasn't disclosed. But the four funds, known as BK Vision AG, Pharma Vision AG, Spezialitaeten Vision AG and Stillhalter Vision, had a stock-market value of about three billion Swiss francs (2.06 billion euros), less than half their seven billion franc value at the end of last year. Mr. Ebner's spokesman and BZ board member, Kurt Schiltknecht, said the company had underestimated the length of the bear market and decided it wanted out of the costly business of making a market for buyers and sellers in the shares of the four Vision companies. Over time, BZ -- described as a no-frills operation based in Wilen, a tax haven 40 kilometers south of Zurich -- had been a net buyer, which tied up its liquidity, and it decided it wanted a partner with a strong distribution network that could attract new shareholders. Mr. Schiltknecht declined to discuss the group's overall finances, and it is unclear just how much of a loss BZ has had. Mr. Ebner and his wife, Rosmarie, hold 46% of BZ Group, according to Reuters. Based on public information, Mr. Ebner had a loss of around four billion, francs alone on his stake in embattled Credit Suisse Group, which stood at around 10% before he sold the funds. He also had a loss of about one billion francs on his investment in ABB, an engineering group with huge debts. The share price has been halved since the start of the year. But BZ Group has said it remains committed to ABB, where Mr. Ebner has a seat on the board. The current bear market has already lasted more than two years and has turned particularly fierce in the past few months. The Dow Jones Stoxx Index of 600 European blue-chips fell more than 10% in July and has fallen 24% so far this year, and its other victims include Bayard Partners Ltd., one of the oldest hedge funds in London that last month shut down what once was one of Europe's best-performing European equity hedge funds. The steep declines have also sparked speculation that some insurance companies were selling equities. Although none has admitted to being forced sellers, regulators in several countries have reacted by loosening the rules in order to stave off just that. Investors welcomed the move by Mr. Ebner, who is publicity shy and restricts his public comments to twice-yearly news conferences in Wilen. Talk that the tycoon's funds had been selling stock in some of Switzerland's biggest firms has weighed on shares in recent sessions, particularly on heavyweights ABB and Credit Suisse. "It was a solution the market would have liked to have," Ronald Wildmann, head of sales and trading research at Bank Leu, told Reuters. "This is a major move and could take out some of the pressure we have seen in certain stocks recently." Other analysts, preferring to remain anonymous, described Mr. Ebner's move as a fire sale. "Who would voluntarily sell the goose that lays the golden eggs?" one said to Reuters. Mr. Ebner's unexpected sale translates into big ownership changes at a number of Swiss blue-chip firms. BZ now owns less than 5% of Credit Suisse Group, compared to the 9.7% stake it had previously disclosed. His holding in insurer Baloise Holding AG has nearly halved to 10.9% from 20.1% while the stake in ABB slipped to 9.7% from 10.1%. Not all of the shifts can be accounted for by the sale of the four stakes, however. Mr. Schiltknecht declined to comment on any other portfolio sales, saying the group would make announcements only when required by law. Zuercher Kantonalbank said the sale would boost its assets under management by 4% to about 73 billion francs. "We decided on the transaction a few days ago," said bank spokesman Urs Ackermann. "It was closed very rapidly." BZ Group is keeping stakes of less than 5% in BK Vision, Stillhalter Vision and Pharma Vision as well as 16.5% in Spezialitaeten Visio. Edited by - gz on 8/2/2002 15:18:16 Edited by - gz on 8/2/2002 15:19:1