Jun 22, 2009, 2:11pm
HOT TOPICS
Which artist formerly known as an investment bank continues to cherry pick PB business, asking convert and some event driven managers to find themselves themselves other brokers? The firm is a-okay with keeping all equity long/short biz. Supposedly it is "hemorrhaging money."
Earlier: B.I.
Posted by guest, Oct 20, 2008 4:09PM
OK, maybe I am misunderstanding the prime brokerage business, but if they are "hemorrhaging money" - why would they get rid of business? I thought when business fled, things were bad - why would you want to push them out?
Posted by guest, Oct 20, 2008 4:11PM
@2- i think that's an independent note about the subject of the post (goldman).
Posted by guest, Oct 20, 2008 4:12PM
bess please just tell me it's GS.Those fuckers have had this coming. Please explain their call for 150 dollar crude by years end.
Posted by guest, Oct 20, 2008 4:12PM
bess please just tell me it's GS.Those fuckers have had this coming. Please explain their call for 150 dollar crude by years end.
Posted by guest, Oct 20, 2008 4:17PM
#4, as a layman, can you please explain to me how someone could get that call about oil so wrong?
Posted by Investorcluzo, Oct 20, 2008 4:17PM
if you have to shore up the capital base (because you just became a bank), you're going to have to pull back on p/b...
Posted by guest, Oct 20, 2008 4:21PM
#12: this is from their Web site - already excludes the FAs (or so I read it)
Employees 2005 2006 2007 2008
Full-Time:
U.S. 43,200 43,700 48,700 45,400
Non-U.S. 11,400 12,500 15,500 15,500
Total(5) 54,600 56,200(7) 64,200(6) 60,900(6)
Non-U.S.Employees 21% 22% 24% 25%
Private Client
Financial Advisors 15,160 15,880 16,740 16,850
Posted by guest, Oct 20, 2008 4:22PM
ty for the education you all knowing jerk-off do you work for GS. tool. at # 9
Posted by prgy, Oct 20, 2008 4:22PM
Hey cluzo are you a complete idiot or do you take stupid pills too?
Posted by prgy, Oct 20, 2008 4:24PM
@13 what the fuck are you talking about? I guess the stupid pills are kicking in.
Posted by guest, Oct 20, 2008 4:25PM
I was #13 - it was for the Merrill post, sorry - the Web site is very slow and I hit Enter by mistake.
Posted by guest, Oct 20, 2008 4:26PM
cluzo , cat got your tongue or is it up your boyfriends ass??
Posted by guest, Oct 20, 2008 4:27PM
at 19 it was a false reckless staement based on nothing but their crude oil position. fuck that noise asshole.
Posted by guest, Oct 20, 2008 4:31PM
prgy - golly gee, here you are again proving you are an idiot AND not a nice person. Are you a Commercial Banker? uh, I mean Teller? Such hate. Will you give me a toaster for opening a new passbook savings account?
Posted by Daniel Harrison, Oct 20, 2008 4:33PM
As far back as May GS said that oil may get to $200 - at the same time as forecasting a global economic downturn. It was always an odd mix of predictions.
Posted by prgy, Oct 20, 2008 4:39PM
@ 17 sorry never mind. @23 no, but I'll give your mom one. yeah!
Posted by guest, Oct 20, 2008 4:40PM
They also tried $200. But you and I know it had nothing to do with forecasting. They were sitting on a shit load of oil.Burn baby burn.
Sell pencils you pricks.
Posted by whatelseisgoingon, Oct 20, 2008 4:43PM
@4, did you get run over on your long oil position trying to frontrun GS or something?
Are you the same D-bag that has been on here bitching about DB not covering a prediction about Goldman... Are you new or just stupid? Of course Goldman is going to talk their position. Get your head out of your ass
Posted by guest, Oct 20, 2008 4:47PM
prgy - I don't have a mom, pa and I take turns with yours...
Posted by guest, Oct 20, 2008 4:58PM
@23, I wouldn't be so smug about commercial bankers, they are going to be our bosses for the next decade.
Posted by guest, Oct 20, 2008 5:01PM
@prgy - No bitch-assness! Did your bus from Secacus get stuck in tunnel traffic this morning? Get back to the Yahoo! bored (yes, that was intended) before the tween set starts to miss you.
-Diddy
Posted by guest, Oct 20, 2008 5:10PM
Morgan was bleeding badly before they turned Japanese,so why should this trend stop now?
Posted by prgy, Oct 20, 2008 5:17PM
Hey @ 31 and @34, why don't you two lovers get a hotel room in Secacus and take turns with the strap on.
Posted by guest, Oct 20, 2008 5:22PM
34 with the huge bridge and tunnel / retail attack proves himself the smartest guy in the room.
Posted by guest, Oct 20, 2008 5:33PM
@prgy - Perez Hilton called, he wants his bff back. Please go...
Posted by Lowly Assistant, Oct 20, 2008 5:35PM
Stop the madness, People. Secaucus. Secaucus, NJ. If you want to insult each other, at least spell the city of bad omen with care.
Posted by diablo, Oct 20, 2008 7:54PM
Shittygroup just cut the quarterly dividend in half. Meredith Whitney has said they shouldn't pay any dividend because they don't make any money. Things are converging slowly.
Posted by StupidEquityGuy, Oct 20, 2008 8:58PM
@46, Low volume relief rally... I was buying puts in the last minutes of the day... I expect we lurch around here for a few days before the next leg down starts.
We have the LEH settlement on Wednesday or so... With the WaMu debt pricing coming up. CP is still stuffed and a crap load of Treasury's are in the pipeline. I am getting ready to ponder crude exposure again... when the fear moment passes, short treasury's is going to be an interesting ride.
~SEG
Posted by guest, Oct 20, 2008 9:26PM
SEG - thanks.
Instead of crude expsoure you might look at nat gas.
Crude may be a buy on rumor up to the OPEC meeting.
Fundamentals on nattie pretty strong short term especially with a cold front in Chicago/New York. Next 10 day forecast is 10% colder than 30 year average and 19% colder than 10 year average. Although nattie did puke out all todays gains close to the close.
Posted by guest, Oct 20, 2008 9:42PM
It's Deutsche Bank. I work for a convert fund and they were our prime broker for 8 years. They showed us the door in July becasue they "want to concentratr on billion dollar funds". As we all know there are more and more of those every day. My contacts have told me they are hemmoraghing money as well.
Posted by guest, Oct 20, 2008 9:56PM
Do any of you retards actually work on wall street?
Every hedge fund is switching JPM or at least thinking about it.
Goodnight.
Posted by guest, Oct 20, 2008 10:08PM
50 - Hmm ... "switching JPM" you say -- what does that mean? To or fro? And why should we care?
Posted by StupidEquityGuy, Oct 20, 2008 10:15PM
@48, I am long NG via unhedged NG producers in my port... I am still licking the wounds on a Fat NG trade where I got piggish in early summer and gave it all back and then some.
You are right, I do need to start pricing some spring options on NG. Any thoughts on the lack of sunspots and colder estimated winter conditions? Alaska had one of the coldest summers in history.
I am already hearing snow stories from friends in the midwest... while its still sunny and 70 degrees here on the wrong coast...
~SEG
Posted by guest, Oct 20, 2008 10:17PM
I am truly sorry for being such a shitty typist, # 51.
The verb I missed was "to".
Posted by guest, Oct 20, 2008 10:47PM
SEG - One of my best clients runs a very large nattie/crude prop book. He is up 25% ytd. This is what he told me this morning.
In the last 100 years the lack of sunspots has been a strong predicator of colder than normal winters. Currently there are NO sun spots. There has been a dramtic cooling of the earths tempature - currently coolest since 1996.
It looks like we are setting up for a colder than normal winter which should be very bullish for nattie going into the spring.
He also noted that there has been a huge pull back from largest commidity traders (read GS/MS)so the market is thin. In his opinion much of the momentum money has already been pulled back and likely not to return. So a further round of deleveraging should not hit nattie very hard.
Posted by guest, Oct 20, 2008 10:56PM
Bess, are you really the girl who called the E-trade banking baby on his blackberry during the commericial?
Can you show us the pic you sent him?
thanks in advance.
Posted by StupidEquityGuy, Oct 20, 2008 10:58PM
@54, Thank You Kind Sir...
~SEG
It appears its time to embrace becoming a methane monkey again, as we are nearing the end of fill season below last years numbers...
Now that the over leveraged meth monkeys have been consumed in a ball of red prints (my own trade included)... NG could be an interesting trade again... if demand kicks in due to winter conditions.
Posted by StupidEquityGuy, Oct 20, 2008 11:02PM
@55 I hear that the picture we want to see is one of her running naked out into traffic, stopping a friends mom's car back when she was a real rebel...
~SEG
Posted by guest, Oct 21, 2008 11:57AM
Absolutely, positively GS, no bout a doubt it.
Anyone who bet on oil @200. was overdoing it on the Meth from the mailroom boys.
Hey Blankie.....maybe Dickie has the bottom bunk saved for you in Dannemora.
Posted by guest, Oct 21, 2008 12:05PM
@53 "to" is not a verb, it is a preposition you stupid dumb ass. Get it right! "to" is a fucking preposition!!!
Posted by guest, Oct 21, 2008 2:30PM
Hey SEG,
Like the Nat Gas idea. Even with storage above 5-yr avg levels, we aren't going to get the LNG cargoes this year. Should be cold too.
Posted by guest, Oct 21, 2008 3:53PM
Bottom line, every prime broker is showing everything but long-short business the door. Morgan Stanley, Deutsche, Goldman. I have prime relationships at 2 of those, tried for the third. JPM uninterested. Very few firms can actually handle a convert-type business, so pickins are limited. There seems to be a desire to end the strategy.
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Posted by guest, Oct 20, 2008 4:05PM
Bess, I just broke up with my long term mistress. Will you hold me and tell me everything is going to be ok. wait, she just sent me a text msg, nevermind.