Goldman Sachs Bonuses at Near-Record Lows? (Deal Journal)
So sayeth Credit Suisse: “We expect full year comp expense to be accrued at 40.4% of revenues, the second lowest level since Goldman has been a public firm, reflective of both mgmt discipline and the impact of new hires over the past year.”
An Interview Question From Goldman Sachs (HP)
“If you were shrunk to the size of a pencil and put in a blender, how would you get out?”
Three Hedge Funds Got Inside Data From Consultant, US Says (Bloomberg)
Anyone want to take a gander on which funds used Winifred Jiau’s info about Nvidia Corp. and Marvell Technology Group?
Business Schools Add Mock Trading Floors (Dealbook)
Students “learn to speak the language of Wall Street,” said Mr. Riley, who donated $100,000 to establish the trading operation at Adelphi, his mother’s alma mater. “When you’re in an environment like this, the first thing you learn is whether this turns you on or not.”…“These days it’s a bling factor at many schools,” said Richard D. Holowczak, who runs the trading floor at Baruch College in New York, which started its trading room in 2000. “It looks sexy, and it’s a great way to have a donor’s name literally in lights.”
Bloomberg’s Katrina (TCL)
Professor Krugman thinks Hizzoner’s snow blowing efforts this week were “a major fail,” not unlike Bush’s in New Orleans that time.
Vatican Outlines Rules To Fight Money Laundering (WSJ)
Job opening alert: “The Vatican is creating a financial watchdog, called the Authority of Financial Information, to control suspicious transactions that could involve financing terrorism as well as market rigging, insider trading and market abuse. The chairman of the Vatican authority will be named by the Pope and his mandate will expire after five years. He will also head a five-member executive committee named by the Pope. According to press reports, Cardinal Attilio Nicora is going to be the chairman of the authority.”
Weekly Jobless Claims Slip Below 400,000, At 29-Month Low (Reuters)
High-fives all around.
Wussy White House Could Use A Snow Ball Fight (Bloomberg)
“Pre-wussification, we were an economic powerhouse, and our children were the best-educated in the world, until we decided to sheathe our little princes and princesses in bubble wrap. We give them graduation ceremonies for getting through nursery school, a trophy just for showing up at soccer. We’ve removed play from the playground to keep them from scraping a knee. We intervene like lawyers in every dispute.”
Chinese Could Become Richer Than Americans, Says Economist (CNBC)
Are you quaking in your boots?
Hedges Clipped (NYP)
In 2010, the number of hedge funds to close their doors permanently declined 32 percent to just 585 firms through the end of the third quarter, according to fund tracking outfit Hedge Fund Research. But fund watchers say the recent downturn in closures may just represent a lull in the storm.
Governors To Be Turn Down Mansions (WSJ)
In New York, departing Gov. David Paterson was caught red-faced in 2009 by allegations that friends of his daughter were planning a party in a section of the mansion they dubbed, “FDR’s Polio Poolhouse,” while her parents were away. The governor called a posting on Facebook about the event a joke.
Steve Young: From The NFL To Private Equity (Fortune)
When will Brett Favre make the jump?
Who Talked To New York Fed Chief Dudley Last Year? (Dealbook)
Bank chiefs, AIG execs, lawyers, global finance officials, hedge fund reps (from SAC and Citadel), private equity guys (from KKR, Carlyle, and Blackstone), Jeff Immelt and Lady GaGa.
Khodorkovsky gets six more years in Russia jail (BBC)
The former oil tycoon now faces imprisonment until 2017. He could “only be reformed by being isolated from society”, the judge’s verdict said. As sentence was passed, Khodorkovsky’s mother shouted at the judge: “May you and your offspring be damned!”
Pimco Says U.S. Will Keep Reserve-Currency Status (Bloomberg)
“Rising powers such as China are not yet ready to absorb the $9 trillion in reserve assets the world holds, particularly because their bond markets are immature,” Anthony Crescenzi, a money manager at Pimco wrote in a report yesterday. “Europe, amid all of its financial woes, isn’t even close to ready to take the mantle.”
Donald Trump Has His Own Way Of Measuring His Success (Daily Intel)
It’s based on the number of (reality TV) stars approaching The Don to kiss his ass.
Police: Man stole from boy’s casket (TD)
“A 37-year-old man has been charged with desecrating the casket of an 11th-grader by reaching in and stealing two handheld video systems and three games. Jody Lynn Bennett of Mentcle was arrested and jailed Wednesday. State police in Indiana said Bennett stole the goods about 9:30 p.m. Monday at the Rairigh Funeral Home. Viewing for Bradley D. McCombs Jr. of Clymer had been scheduled to conclude at 9. McCombs’s uncle, Robert McCombs Jr., approached Bennett after Bennett got in his vehicle and was about to drive away. He asked Bennett about a missing Game Boy. “The defendant told the uncle that he did not have the Game Boy,” according to the affidavit of probable cause. “The uncle then told the defendant that he could see the Game Boy inside the vehicle. The defendant then produced the Game Boy and returned it to the uncle.”
Governor Paterson Calls For Snow Slowdown Probe (NYP)
Outgoing Gov. David Paterson called this morning for a criminal investigation into allegations that a slowdown by budget-squeezed plow operators contributed to the city’s blizzard woes.
Programming Note: We’re on an abbreviated vacation-esque schedule ’til Monday (opening/closing wraps and very limited updates whenever the urge to reach out and touch you moves us). We still want to hear from you, though, so if someone gets nailed for insider trading, Tim Geithner announces he’s quitting to tour with Phantom of the Opera, or anything else happens that you think might tickle our fancy, do not hesitate to let us know.
Kate Gosselin is a star?
reality stars count!
- the don
I used to be a Fav-Ruh fan, but I am beginning to wish he would make “The Jump” – Cornell-style.
why you gotta hate? you have a problem with dick shots?
If by Chinese being richer than us translates to “Sons & Daughters of leading Communist Party Officials being richer than Americans” – yeah I wouldn’t be surprised, similar levels of wealth have already been achieved in Russia and Nigeria.
Rendell: good guy, great mayor, lousy governor.
Apparently $7000 per capita GDP is the NKI
I don’t think money laundering is what the Vatican should be focusing on. Let me give you a clue: it starts with child (think about the children) and ends with olestation.
hold up, it’s almost noon and the pitchfork and torch set hasn’t comment on GS bonuses??? we all know that they won’t be satisfied until the number resembles something from krispy kreme…
hold up, it’s almost noon and the pitchfork and torch set hasn’t comment on GS bonuses??? we all know that they won’t be satisfied until the number resembles something from krispy kreme…
ROR
ROR
I recently treated a patient with “genital exposure” compulsions. I asked him to look at some Rorschach inkblots in the imagery mapping process protocol. To the first image, he stated, “Looks like a dick.”
A second inkblot elicited this response, “Looks like a bunch of dicks in a vase.”
A third image resulted in: “Whale’s dick?”
I told the patient that he was very ill and that a 5-year minimum treatment regimen would bring him back into reality.
Shocked, he stated angrily, “I need treatment??? And you’re the one with a drawer full of dick drawings???”
Being a modest man, when I checked into my hotel on a recent trip, I said to the lady at the registration desk … “I hope the porn channel in my room is disabled.” To which she replied, “No, it’s regular porn, you sick bastard.
Huh?
I think I love u Anon.
live under a rock much?
look, I have a To Do list and money laundering came first, k chief?
-Benny
Blind Items –fun provided by Bloomberg:
http://www.bloomberg.com/news/2010-12-29/u-s-prosecutors-in-new-york-charge-winifred-jiau-with-insider-trading.html
Prosecutors claim Jiau began getting paid for insider information in September 2006. In May 2008, Jiau separately gave two hedge fund portfolio managers, one of whom worked for two hedge funds, “on point and accurate” data about the quarterly financial results at Marvell before it was released to the public, prosecutors said. One of the funds netted more than $820,000 in profits based on that inside information, the FBI said.
Jiau also gave quarterly financial data in August 2008 about Marvell to the same two managers, referred to as unidentified co-conspirators CC-1 and CC-2 in the complaint.
Inside Data
CC-1 founded a New York entity referred to as Hedge Fund A and CC-2 worked at two separate hedge funds, according to the complaint. A cooperating witness who pleaded guilty, CW-1, began working as a research analyst at Hedge Fund A in March 2008, the FBI said in court papers.
CC-1 told the cooperating witness to get inside data from various co-conspirators, including Jiau, the FBI said. She gave inside information to CC-1 and CC-2, and the cooperating witness listened to their conversations about Marvell, the FBI said.
CC-1 also recorded conversations with Jiau, and the complaint quoted Jiau in conversations about Marvell’s second- quarter earnings that the company announced on Aug. 28, 2008.
When CC-2 asked if she had data yet on the next quarter, she said: “As soon as I get it, I give you guys a buzz,” according to court papers.
CW-1 “understood that Jiau obtained the information about Marvell and Nvidia from a source who was not authorized to disseminate” it, according to the complaint.
thanks for the blind item that was already posed as a blind item in the third link in opening bell. solid work, page 6 will be calling.
Do a lot of midgets apply for jobs at GS?
depends on your definition of a midget…
-LB
So what–no one was commenting–if you have something better to do today, then by all means do it!
Anyway CW-2 is:
Karl Motey, cooperating witness (CW-2), pleaded guilty for insider trading in exchange for leniency. Motey delivered secret tips about Marvel Technology Group (MRVL) to several hedge funds between 2007 and 2009
http://www.insidermonkey.com/blog/tag/manosha-karunatilaka/
and it appears CW-1 is: Karl Motey, like Daniel DeVore, is cooperating with prosecutors and hoping for a lighter sentence.
not get the joke much?
and Hedge fund A = Level Global?
http://dealbreaker.com/2010/12/one-of-this-mornings-arrested-experts-has-ties-to-level-global/
and Hedge fund A = Level Global?
http://dealbreaker.com/2010/12/one-of-this-mornings-arrested-experts-has-ties-to-level-global/
and Hedge fund A = Level Global?
http://dealbreaker.com/2010/12/one-of-this-mornings-arrested-experts-has-ties-to-level-global/
Can anyone loan me a few bucks so I can buy Cody Willard’s investment newsletter? It’s only $99 per year. I would pay anything to learn from the master.
http://store.marketwatch.com/webapp/wcs/stores/servlet/PremiumNewsletters_RevolutionInvesting?dist=IYMHMWADV&reflink=djm_hamwriv#
Is this guy for real? What a loser
“If you were shrunk to the size of a pencil and put in a blender, how would you get out?” How does that qualify as a “hard” interview question rather than a completely friggin bizzarre interview question? I mean, is there a definite “right” answer to that?
If I were a pencil and I was put in a blender? Hmm. Well, I’d probably pray that the mother fucking puree button gets pressed real damn quick ’cause what kinda fucking life is there for a goddamn pencil on the Street? Spend my short existence in the dick beaters, boss cock chugger, or glory hole of some greasy haired, dumb ass, loser geek analyst? Thanks, but no thanks.
That or I’d wait for the vodka and float my way out.
Governor Paterson is no fan of John Gault.
I shrink all of the time to the size of a pencil.
#2 or #4?
Who is John Gault?
you win.
marry me.
Mmmmmm . . . donuts . . .
I’m pretty sure that was a typo and he meant “John Gaunt”, A.K.A. Jack Sprat. He is implying that Gov. Patterson’s weight issues make him jealous of either Jack Sprat, for his size, or possibly of Jack’s wife, for her size.
He is also extremely jealous of eagles.
All y’all Dawgs be jealous of Eagles.
Woof! Bark! Woof!
–National Union of Canine Pugilists
obviously they’re interested in your ability to problem solve, not necessarily the ‘right’ answer.
i would LOVE to meet the GS asshole who came up with/asked someone that question.
Seems goofy. I assume that since the question says nothing about weight or mass, that my 250 plus body will be inside that pencil size, and thus, I will lean on the glass, easily tip over the blender, and kick off the lid. After which, and unable to reach the floor, I will languish on the counter and die anyway and miss my first day of work at GS. Thus exiting the blender and my new small penis are the least of my problems.
Of course it didn’t say you ARE a pencil, it says you are the size of a pencil.
Problem solve? Me thinks they just want to see little nerds sweat at taking these stupid questions seriously. e.g. “What’s your biggest weakness?”
Re “Blondes and fast cars.”
They’re trying to get you to show some personality.
A friend of mine is a VP in a Quant desk in a usual wall st bank. He told me that the HR sometimes asks them to ask weird questions to see what the person is replying, sometimes just to break the ice in a boring interview. So my friend went ahead and asked a candidate ” an alien and a chicken are locked in the same room for 12 hours. what do you think happenned when the door was finally opened to look inside. ” .. this guy gives a real heavy sigh and went ” Listen mate, I used to do mathematics and coding for NASA. If my calibre is going to be analysed based upon how an alien went about attacking a chicken or visa versa in a hypothetical room, I am sorry I am not good enough for this role. In my 5 years at NASA even in our wildest dream we never imagined an alien and a chicken together” .. My friend almost went rolling on the floor laughing, and he said that was the best answer he got that day and instantly liked the guy. So weird questions need weird answers.
Blender blender, don’t shred me And I promise you a job at goldman sachs.
So watching “MacGyver” is good GS interview preparation?
lol friggin hysterical
jerseymall.net
jerseymall.org