Which artist formerly known as an investment bank is raising margins on managers due to cash needs? The firm is pushing out hedge fund clients that are not long/short equity or one of the elite members of the hedge fund harem (with a non long/short equity strategy). Apparently "every wire going out is being scrutinized for fears that cash going out will increase leverage of the fund."
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Posted by guest , Oct 16, 2008 3:16PM
MS
Posted by guest , Oct 16, 2008 3:16PM
Well, we know Barclays is doing this, but I imagine you're talking about Morgan Stanley.
Posted by guest , Oct 16, 2008 3:17PM
Bear Stearns?
Posted by guest , Oct 16, 2008 3:17PM
goldman
Posted by guest , Oct 16, 2008 3:19PM
Is credit really trading better today?
Is the rumor really true?
Anyone with insight??
Posted by guest , Oct 16, 2008 3:20PM
has to be goldman. they are hurting, big time. ms was doing this a few weeks back but now that they have lost a boatload of pb clients, it is goldman's turn. had to happen to them sooner or later.
Posted by guest , Oct 16, 2008 3:21PM
Prince?
Posted by guest , Oct 16, 2008 3:22PM
it's goldman
Posted by mrpink , Oct 16, 2008 3:23PM
@5
Swaps are slightly better across the board. Still a bit painful for us, but not as bad as it was overnight.
-mrp
Posted by guest , Oct 16, 2008 3:28PM
I hate blind items. prince?
Posted by guest , Oct 16, 2008 3:28PM
I hate blind items. prince?
Posted by guest , Oct 16, 2008 3:29PM
#5 counterparty risk has ticked down. not really material change
Posted by guest , Oct 16, 2008 3:29PM
goldman
Posted by guest , Oct 16, 2008 3:30PM
who the fuck is it Bess??c'mon now!!
Posted by MostOffensive , Oct 16, 2008 3:32PM
great idea! lets make home prices even lower!! http://www.coldwellbanker.com/event
Posted by guest , Oct 16, 2008 3:32PM
Gizzle to the Sizzle.
Posted by guest , Oct 16, 2008 3:33PM
now see bess has it figured out finally. the proper way to report rumors like citadel etc. is to report it without the name and then put it in the comments anonymously.
Posted by mj , Oct 16, 2008 3:33PM
@5,9 I'll add that curr cpn mbs are flat to swaps, i.e. slightly tighter to ust on a newsless credit day and no news is good news.
Posted by guest , Oct 16, 2008 3:34PM
MS for sure
Posted by guest , Oct 16, 2008 3:35PM
Well i don't know much about these head honchos but the phrase is "the artist formerly known as prince" do I guess that is a clue.
Posted by guest , Oct 16, 2008 3:36PM
whereever chuck prince is bingo!!!!!
Posted by guest , Oct 16, 2008 3:37PM
Its Goldman, they are cowering in the corner right now. From the Penthouse to the outhouse, kinda sweet.
Posted by guest , Oct 16, 2008 3:38PM
ms or gs both have had there day. Hopefully GS. LMFAO. hehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehe.
Posted by guest , Oct 16, 2008 3:40PM
@20 and @21: No, they key is "formerly known as an investment bank" which would imply MS or GS.
Posted by guest , Oct 16, 2008 3:41PM
"in November, trying "to de-leverage a bit," as he put it, he has taken a job with Washington-based consulting firm Stonebridge International. "I'm going to have fun," he told The Wall Street Journal. "It's been a long time since I've had fun." [WSJ]'
http://nymag.com/daily/intel/2008/09/chuck_prince_gets_his_groove_b.html
Posted by guest , Oct 16, 2008 3:42PM
MS is dead by Jan. 1 - MUFG will swallow the rest by then...
Posted by guest , Oct 16, 2008 3:42PM
Its Goldman, they are cowering in the corner right now. From the Penthouse to the outhouse, kinda sweet.
Posted by guest , Oct 16, 2008 3:43PM
@22 - absolutely right.
Posted by guest , Oct 16, 2008 3:44PM
it's absolutely goldman.
Posted by guest , Oct 16, 2008 3:44PM
masters of the universe. what a joke.
Posted by guest , Oct 16, 2008 3:45PM
"Last month alone panicked investors took $43 billion out of the asset class. Things could easily go from bad to worse for the industry, as it's unclear how much exposure independent hedge funds (the ones not owned by struggling investment banks) have to mortgage-backed securities, but there definitely are a number of them that have invested in the class. - George White and Ron Orol
"http://www.thedeal.com/dealscape/2008/10/hedge_funds_shouldnt_expect_to.php
Posted by guest , Oct 16, 2008 3:46PM
GS securities services group kinda panicky right now
Posted by guest , Oct 16, 2008 3:49PM
can anyone explain what is going on with INBEV?
Posted by guest , Oct 16, 2008 3:49PM
masters of the universe. what a joke.
Posted by Investorcluzo , Oct 16, 2008 3:52PM
mrp - it's been a while! hope all is well in chi-town. what's going on with swaps in insurance land? those guys are all going to have to raise cap soon, I would imagine the debt markets have to putting a squeeze on them.
Posted by guest , Oct 16, 2008 3:54PM
The guys in the White Hats appear to have formed a posse:
"Jeffrey C. Sullivan, U.S. attorney in Seattle, said in a statement he has formed a task force with investigators from the Securities and Exchange Commission, the Federal Bureau of Investigation, the Internal Revenue Service and the Federal Deposit Insurance Corp.'s inspector general."
http://tinyurl.com/5yson4
Posted by guest , Oct 16, 2008 3:56PM
this is pure financial karma
Posted by guest , Oct 16, 2008 3:59PM
pink: Chicago? Lincoln Park, no doubt. Don't be too distracted by those beefy blondish midwest plow boys. Yum. And so friendly compared with the harsh and unforgiving NY crowd. I want a full report. GAnalYst
Posted by guest , Oct 16, 2008 4:04PM
GAnalYst do you always have to be so focused on hot young tail? We get it. You're gay. You like hot guys. Join the club. Talking about it is superfluous.
Posted by guest , Oct 16, 2008 4:04PM
Is Bartiromo pregnant, or does fatty just love snacks?
Posted by guest , Oct 16, 2008 4:10PM
39 Sorry. It just one of the things that helps get me through days that have lately been otherwise painful. GAnalYst
Posted by guest , Oct 16, 2008 4:11PM
@40...tube steak
Posted by guest , Oct 16, 2008 4:18PM
41 - It's ok. I hear you. I will admit that beefy midwesterners are a good distraction.
Posted by StupidEquityGuy , Oct 16, 2008 4:21PM
@ GAnalYst,
You are an equity driver in the international - emerging markets area correct?
How much cash have you guys raised in % terms?
This market is a long vol junkies market, it sure is not a fundi long market. I have had to bury my funi instincts and ignore value at this stage. Cash is King, and even another rally tomorrow won't change that...
Best of luck, and be safe out there,
~SEG
Posted by guest , Oct 16, 2008 4:21PM
@40 - have been wondering about that for weeks. Looking much bigger than when she was interviewing guests during the summer across from the exchange.
Posted by guest , Oct 16, 2008 4:27PM
@40: I bet after the Todd Thompson affair, it was "put up or shut up" with hubbie - have a kid and save the marriage. She's 40 and they've been married for a while with no kids.
Posted by american bandersnatch , Oct 16, 2008 4:32PM
@46 - Ha ha ha
Having kids makes things so much less stressful at home.
Posted by guest , Oct 16, 2008 4:32PM
Does her husband actually work?
Posted by guest , Oct 16, 2008 4:32PM
SEG Correct. Mostly developed though. EM is more of a dabble - you probably recall an EM trip that I mentioned in early summer. And institutional long only, so always fully invested. Its usually fun, but not lately. I appeciate the encouragement. GAnalYst
Posted by guest , Oct 16, 2008 4:55PM
I know a lot of "house husbands" they work hard.
Posted by guest , Oct 16, 2008 10:20PM
Deutsche Bank. They are in horrible shape. We had been clients of theirs for 8 years and they showed us the door last month because they "want to concentrate on billion $ funds". As we all know there are more of those every day now.