February 2012

  • Write-Offs

    Write-Offs: 02.29.12

    $$$ Banks turn to ECB for €530bn in loans [FT] $$$ Market-Roiling Trade Likely Not ‘Fat-Finger’ Error [WSJ] $$$ Fannie Mae seeks $4.6 billion in aid after Q4 loss [Reuters] $$$ Ted Turner wakes up at 4am, goes to bed at 9pm, reads The Economist cover to cover, drives a Prius, and “alternat[es] among four […]

    / Feb 29, 2012 at 7:46 PM
  • matttaibbioccupywallstreet2


    Is There A Horse Semen Pie In Brian Moynihan’s Future?

    In the freezing rain a few yards away from Bank of America’s New York headquarters on 42nd Street, the man who made America see Goldman Sachs as a “vampire squid” was describing his research on a forthcoming article. “I called up my source and told him that I wanted to highlight all the really bad […]

    / Feb 29, 2012 at 6:12 PM
  • M&A, News

    Potential New Way To Create Value For Shareholders: Issue More Press Releases

    I always feel bad bringing you academic papers because inevitably they’ve been on SSRN for, like, two years, but this one is new to me anyway and good glaven are these charts clever: So these guys (Kenneth Ahern and Denis Sosyura of Michigan) went and looked at a bunch of stock-for-stock mergers. And they looked […]

    / Feb 29, 2012 at 4:16 PM
  • News

    The Interview Shame Thread

    We, elderly Second-Year Sages, like to offer recruiting advice as if we know how it’s done. Truth is, we have no idea what these firms, who shop for new blood annually, are really looking for. Like giving birth and swimming, it’s something you just have to try yourself to find your best approach. Still, we’ve […]

    / Feb 29, 2012 at 3:31 PM
  • stevecohensactradingfloor

    Hedge Funds

    Report: Feds Tapped Steve Cohen’s Calls In 2007, Nothing Happened

    Charlie Gasparino is on the scene:

    / Feb 29, 2012 at 2:23 PM
  • News

    What? He Thought This Was Preferable To Inspecting His Fingernails, Sighing Audibly, And Miming “Shoot Me” At His Assistant

    German finance minister Wolfgang Schauble was caught playing a game of Sudoku during a heated debate in Germany’s parliament over the latest Greek bailout. While his colleagues debated the merits of keeping Athens on life support with a controversial €130 billion ($174 billion) bailout, Schauble opted to hammer away at the numbers game on his […]

    / Feb 29, 2012 at 12:26 PM
  • nosoupforyou


    Bonus Watch ’12: Nightmare On Wall Street

    At Bloomberg today you will find a piece that is a bit hard to stomach if you’re the type of person whose heart goes out to the suffering. A bunch of financial services employees’ bonuses were slashed last year and, as a result, their lives have been turned upside down. Perhaps recalling how well their […]

    / Feb 29, 2012 at 11:31 AM
  • jamie-dimon_-jpmorg_7fe292d

    Opening Bell

    Opening Bell: 02.29.12

    David Loeb, a Goldman managing director who acts as a middleman between the Wall Street firm and some of its most important hedge-fund clients, is the latest Goldman official to be investigated in the insider-trading probe. As a senior Goldman salesman, Mr. Loeb deals with many technology hedge-fund employees…Known at Goldman and among clients as self-deprecating and colorful, Mr. Loeb sometimes signs his emails “cbf,” for “chunky but funky.”

    / Feb 29, 2012 at 9:40 AM
  • Write-Offs

    Write-Offs: 02.28.12

    $$$ Ireland calls vote on European fiscal pact [FT]

    $$$ Ray Dalio’s Pure Alpha hedge fund made $13.8 billion for its investors last year, while John Paulson lost clients almost $10 billion after an unsuccessful wager that the U.S. economy would recover, according to a report by LCH Investments NV [Bloomberg]

    $$$ Apple joins the $500bn club [FT]

    $$$ Hot Item: Pre-IPO Facebook Shares [WSJ]

    $$$ Too many high frequency traders use the same part of the second [Grumpy Economist]

    $$$ No one will sell Becky Quick a minivan [Fortune]

    $$$ A global asset manager is looking for a portfolio manager; compensation is “astronomical” [DBCC]

    / Feb 28, 2012 at 7:28 PM
  • delphi


    Greek CDS Would Be Fine If People Would Just Leave It Alone For A While

    Somebody once said that “The Greek CDS situation is sort of puzzling, but it’s possible, and popular, to overstate its puzzlingness.” People just cannot resist doing that can they? CDS is sort of simple. Here is the lifespan of CDS: (1) You buy a CDS contract on undefaulted bonds in sunny times. . . . […]

    / Feb 28, 2012 at 7:08 PM
  • katrinadarlingbarclays


    And Where Exactly Is The Support For Barclays Employee Nadine Who Moonlights On Weekends As A 4H Judge?

    Katrina Darling…who still holds down a banking job at Barclays in London, will make her first stateside appearance at SoHo nightclub W.I.P. on March 13. She’ll perform her trademark saucy “God Save the Queen” routine during W.I.P.’s Tuesday night Dropout party run by Lyle Derek and Noah Valentyn. Darling said she’s had no backlash from […]

    / Feb 28, 2012 at 5:03 PM
  • News

    Getting Half-Arrested

    It’s been dead here lately with the NBA on break. Not so for Irish, a cross-town bookie who called to pass along that he was “half-arrested”. I kind of thought that getting half-arrested was like getting half-pregnant, so I asked for details. Two plainclothes city cops knocked on his door mid-morning: could he please come […]

    / Feb 28, 2012 at 3:52 PM
  • georgesorosgirlfriend


    Does George Soros Really Want The Ex-Girlfriend Who He Promised An Apartment To Go Away?

    Remember Adriana Ferreyr? To recap, she’s a woman with whom George Soros either conducted “a serious meaningful relationship” that lasted five years or had an “on-again, off-again and non-exclusive intimate relationship,” depending on who you ask. Last August, Ferreyr sued the billionaire for $50 million based on the promise he allegedly made to buy her […]

    / Feb 28, 2012 at 3:24 PM
  • 28feb12 JPM splt


    It’s Probably Best Not To Think Too Hard About JPMorgan’s Revenue-Per-Trade Breakdown

    Despite its overwhelming brown-ness I was kind of mesmerized by this slide from Jes Staley’s presentation for use later today at JPM’s investor day:

    The table shows the “number of trades” and revenue per trade for a bunch of JPMorgan’s investment bank trading products, which it’s disclosing now for reasons that are unclear but you can guess. Bloomberg does:

    / Feb 28, 2012 at 2:21 PM
  • philandlisafalcone


    Who Wants To Be CEO Of LightSquared?

    The dream few thought possible is now within reach, as there have been some unexpected personnel changes at the wireless company– if anyone is looking for employment, shoot Phil your resume today. The Falcone family muse was obviously offered the gig but has her hands full at the moment. 

    / Feb 28, 2012 at 1:40 PM
  • billgrosspimco


    Business Achievements Of “Indian Chief” Community Have Not Gone Unnoticed By Bill Gross

    My point about pigskin offense and defense is the perfect metaphor for the world of investing as well. Offensively minded risk takers in the markets have historically been the ones who have dominated the headlines and won the hearts of that beautiful gal (or handsome guy). Aside from the rare examples of Steve Jobs and […]

    / Feb 28, 2012 at 12:05 PM
  • angelamerkel

    Opening Bell

    Opening Bell: 02.28.12

    Insider Trading Targets Expanding (WSJ) The government currently is investigating whether roughly 240 individuals, including hedge-fund traders and company insiders, improperly shared insider information, said Mr. Chaves. Roughly half of those, or 120, are “targets,” meaning the government believes they have violated insider-trading laws and is actively building cases against them, according to Mr. Chaves, […]

    / Feb 28, 2012 at 9:30 AM
  • Write-Offs

    Write-Offs: 02.27.12

    $$$ Mike Mayo wants JPMorgan to be split up [DealBook] $$$ S&P downgrades Greece to selective default [Reuters] $$$ Merkel Hoses Down Talk of Firewall Boost [WSJ] $$$ Should We Quit Subsidizing Corporate Debt? [John Carney / NetNet] $$$ Goldman Fights UniCredit for Prized Oktoberfest Conference Slot $$$ This cold calling guy again [BI, earlier, […]

    / Feb 27, 2012 at 7:04 PM

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