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.”
Posted by guest , Nov 20, 2009 8:16AM
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
Posted by guest , Nov 20, 2009 8:19AM
@1 you are a vicious animal liar.
-biff
Posted by guest , Nov 20, 2009 8:24AM
@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?
Posted by guest , Nov 20, 2009 8:25AM
"temporary employees." like, analysts?
Posted by american bandersnatch , Nov 20, 2009 8:25AM
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
Posted by guest , Nov 20, 2009 8:26AM
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.)
Posted by guest , Nov 20, 2009 8:33AM
cliff assface=jerk
Posted by guest , Nov 20, 2009 8:37AM
Dear Shareholder,
Bask in our glory and suck our golden balls.
Sincerely,
You know who
Posted by guest , Nov 20, 2009 8:40AM
Wow. GM's chairman doesn't know why their cars and trucks suck? Why does this guy have a job?
Posted by guest , Nov 20, 2009 8:43AM
@6 yes and yes
Posted by guest , Nov 20, 2009 8:44AM
I'm making Christmas ornaments in the shape of 1/2 scale gilded scrotums. I can't keep up with demand.
Posted by guest , Nov 20, 2009 8:56AM
"Whale on Squid violence"
-fify
Posted by Anal_yst , Nov 20, 2009 9:21AM
@AB
I see taleb's toned down the ego, eh? Not nearly enough syllables there for the taleb of a few years ago.
Posted by american bandersnatch , Nov 20, 2009 9:28AM
@Anal_yst
My oversight. Please note that I'm much smarter and cooler than everyone else.
-T'sGE
Posted by guest , Nov 20, 2009 9:44AM
"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.
Posted by guest , Nov 20, 2009 10:15AM
"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?!?!
Posted by Anal_yst , Nov 20, 2009 10:24AM
@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.
Posted by guest , Nov 20, 2009 10:36AM
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
Posted by trojan , Nov 20, 2009 11:45AM
@15
see the second link