Goldman Holders Miffed At Bonuses (WSJ)
Squid on Squid violence: “Some of the largest shareholders in Goldman Sachs have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its blockbuster earnings to investors, according to people familiar with the situation. Some major Goldman shareholders also are concerned about a little-noticed change in the company’s financial statements that increased the firm’s total head count by adding temporary employees and consultants. The change reduced per-employee compensation, making it look like Goldman employees earn less than they actually do.”
Harvard Poker Pro Says Texas Hold ‘Em Can Teach Traders to Fold (Bloomberg)
“Someone who has made a successful living as a poker player for a few years would more likely be a good trader than someone who hasn’t,” said Aaron Brown, a 53-year-old former poker pro who is now a risk manager at AQR.
Lampert’s Sears Narrows Its Loss as Gap’s Profit Increases 25% (NYT)
This calls for a pizza party, on Eddie.
SEC Told to Improve Ways It Chooses Probe Targets (AP)
A report released by the office of Inspector General David Kotz proposes new requirements that the SEC’s inspections office examine databases and documents related to investment advisers that may be inspected.
GM’s Chairman Seeks Focus on Quality (WSJ)
Edward Whitacre wants to know why people think GM cars suck.
Oregon Democrat DeFazio Calls for Geithner’s Resignation (Real Time Economics)
“I just do not feel that his orientation is other than Wall Street, and has not been other than Wall Street, and will not be other than Wall Street. And quite frankly all the gambling on Wall Street is doing nothing to put people back to work in America and rebuild our economy.”
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The only thing aaron brown manages at AQR is his breakfast buffet plate.
if AQR knew when to fold they would have shut their funds down 3 years ago
@1 you are a vicious animal liar.
-biff
@biff
Not sure why anyone would eat at that breakfast buffet especially after that female indian quant has sneezed all over the food. What a social retard she is.
Anyone got H1N1 yet?
“temporary employees.” like, analysts?
Typical. A man who plays a game with clear unchanging rules and astatistically reliable distribution of cards thinks that prepares him for the markets.
- Taleb’s Giant Ego
Do AQR employees refresh db every ten mins waiting for the opp to give biff the finger? (not saying that like it’s a bad thing, just asking.)
cliff assface=jerk
Dear Shareholder,
Bask in our glory and suck our golden balls.
Sincerely,
You know who
Wow. GM’s chairman doesn’t know why their cars and trucks suck? Why does this guy have a job?
@6 yes and yes
I’m making Christmas ornaments in the shape of 1/2 scale gilded scrotums. I can’t keep up with demand.
“Whale on Squid violence”
-fify
@AB
I see taleb’s toned down the ego, eh? Not nearly enough syllables there for the taleb of a few years ago.
@Anal_yst
My oversight. Please note that I’m much smarter and cooler than everyone else.
-T’sGE
“All the gambling on Wall St.”
I’m shocked, SHOCKED to hear that there is “gambling” on Wall Street! I thought they were supposed to make only risk-free, ultra-safe investments!
Sigh.
Another CongressCritter places himself among the financially illiterate.
“Some major Goldman shareholders also are concerned about a little-noticed change in the company’s financial statements that increased the firm’s total head count by adding temporary employees and consultants. The change reduced per-employee compensation, making it look like Goldman employees earn less than they actually do.”
Do they ever do anything that doesn’t involve gaming the system?!?!
@16
Do you ever do anything that involves using your brain?
Using the mean (total comp divided by # of employees) gives a completely incorrect picture of Goldman (or any firm’s) compensation structure.
If I have to explain why I’m going to crawl through teh intertubes and send you back to yahoo finance/denninger/wherever you came from.
Aaron Brown is a fat slob who adds nothing to the company. He’s a free loader and a leech to our bonus pool. He must be fired
@15
see the second link