$$$ U.S. stocks are set to end a volatile year up 0.3% [FT] [Update: down 0.003%]
$$$ Banks Face Off For Facebook IPO [WSJ]
$$$ “Our theories of shareholder value maximization and stock-based compensation have the ability to destroy our economy and rot out the core of American capitalism.” [Forbes]
$$$ “There are two sustainable ways to make money in finance: find people with risks that need to be carried and match them with people with unused risk-bearing capacity, or find people with such risks and match them with people who are clueless but who have money.” [Project Syndicate]
$$$ “Investment banking is a young person’s game, or the calling of an individual … who has found nothing more exciting and satisfying to do that will actually pay him money. Some—a very few—even manage to come out the other side of the tunnel with their morals intact and the financial security and means to give back to society in a meaningful way. They go into politics, they become philanthropists, they build schools in Bolivia. They might even write a blog.” [Epicurean Dealmaker]
$$$ Kelly Clarkson supports Ron Paul, does “not support racism” [Fox]
$$$ That’s it for us today. Like the NYSE, we’ll be off Monday and regular posting will resume on Tuesday. Have a HAPPY NEW YEAR and see you in 2012!
$$$ Ackman’s Pershing Said to Urge Canadian Pacific CEO Switch [Bloomberg]
$$$ Whistleblower documents illuminate case against BNY Mellon [Reuters]
$$$ The tax code allows companies to deduct compensation expense [NYT]
$$$ Some amateur investors underperform the market [WSJ]
$$$ “[Indiana state] Sen. Vaneta Becker, R-Evansville, has introduced a bill that would set specific “performance standards” for singing and playing “The Star-Spangled Banner” at any event sponsored by public schools and state universities. … The bill calls for schools to maintain audio recordings of all performances for two years and develop a procedure for dealing with complaints if a musician is alleged to have strayed from the approved lyrical or melodic guidelines.” [Indy Star]
What is the "NYSE?"
-UBS Equities MD
Epicurean douchemaker
Merry New Year everybody!
-East Texas Samoan Trader
What are morals?
What's the under/over that it was Matt who did the write-off's today?
On New Year's Morn at about 4:00 AM, a hedge fund trader realized he was too drunk to drive so he parked his Maybach and started staggering home on foot. About half a mile from his parked car he was stopped by a policeman. The cop said, "And where are you walking to at this early hour, sir?"
"I'm on my way to a lecture", slurred the trader.
"Well now and who might be giving a lecture on New Year's day this early in the morning?" asked the cop.
The trader replied, "My wife."
Hmm… not your best work, but still.
Here: http://www.youtube.com/watch?feature=player_embed...
Hope you too are breaking bottles and throwing glasses on the ground while wearing a silly hat to entertain a ladyfriend.. while munching away.
Happy Happy