Some things are so obvious that they need not be pointed out but we'll do it anyway: whacking is no longer just de rigeur with zee banks.
Hedge Funds May Cut 10,000 Jobs, Options Group Says [Bloomberg]
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Posted by guest , Oct 16, 2008 6:29PM
This on top of 35,000-40,000 layoffs at Wall Street projected:
Lower bonuses, fewer jobs on Wall Street projected
NY's economy is going to be in gutter for a while.
Posted by guest , Oct 16, 2008 10:04PM
brother and sisters of Excel, this too shall pass.
The collective world will be that much more productive and efficient now that we are free to share our well honed modeling skills and adderall enhanced attention to detail.
Consider yourselves the second generation of "a thousand points of light" ready to raise up back on high this once proud nation.
Damn I'm drunk.
Izzo
Posted by guest , Oct 16, 2008 10:21PM
grandeur et decadence...
Posted by guest , Oct 17, 2008 1:10AM
I'm trying to understand since I'm not familiar with how hedge funds work. If a hedge fund is down 15%, is the loss much higher than 15% (compared to a mutual fund being down 15%) because a hedge fund is levered? Meaning if it is levered 4 times, is the actual loss 4 times 15=60% loss? Is that why it is such a big deal that a hedge fund is down 15%? Because, if my mutual fund were down 15%, I would be excited since the dow, S&P 500, and nasdaq are all down more than 30%...I feel like I'm missing something.
Would appreciate the help. Thanks!
Posted by StupidEquityGuy , Oct 17, 2008 1:24AM
@4, It has to do with greed. We and our staff are motivated with the 20% of the profit and the thing called high water mark.
The 2% part is nothing more then grease that keeps the wheels running. The 20%, is what motivates the brains that congregate at the Church of Money... They flee any fund that cant pay them the bucks...
In the past, people who would have been doctors/engineers/scientist are now wedgies ( ;-)... Yes that is a big head smilie...
There is a real argument that the US has hollowed out its self, by allow a full generation of its finest brains to embrace greed instead of knowledge.
Now, its a worse case scenario, with the immortal IBs gone, the commercials bk, the US Treasury hunting the next generation of merchant banks, and the need to restart the system on the cheap...
~SEG
Posted by guest , Oct 17, 2008 2:32AM
Adderall and Excel, a match made in Heaven.
SPODE
Posted by guest , Oct 17, 2008 4:46AM
Anything that leads to NY becoming more like The Warriors gets my vote.
What about a gang of hedgefund managers trapped in lower Mahattan who have to fight their way back to up to Connecticut while being chased by marauding regulators blaming them for the death of the economy.
"WARRIORS...COME OUT TO PLAAA-AAAY"
Posted by guest , Oct 17, 2008 7:33AM
I am CEO of a hedge fund, what is a margin call?
Posted by NotNasser , Oct 17, 2008 8:45AM
8.
I believe you. As it happens, I'm a neurosurgeon. What's a tort lawyer?