• News

    Swiss National Bank, Everyone Else Not On The Same Page Re: Definition Of ‘Weak’

    The Swiss National Bank is ready and willing to keep the franc weak. Which it apparently still thinks it is, 30% appreciation notwithstanding. Which may come as quite a surprise to those of you who lost all of that money two weeks ago, or who had to pay an extra 30% for drinks at Davos, […]

    / Jan 27, 2015 at 4:57 PM
  • cfa

    News

    Some People Passed The Level I CFA Exam…

    …while others, like 56% of those who sat for the test last month, did not. Today, those in the latter camp are contemplating what went wrong, wondering if they threw away 4-6 months of their lives studying (or if it was all a dream), and estimating how much more liquor they have to ingest to […]

    / Jan 27, 2015 at 4:33 PM
  • Hedge Funds

    How Shall We Measure Bill Ackman’s Amazing 2014? Let Us Count The Ways

    Raw performance figures failing to adequately capture the scale of Ackman awesomeness for you? His status as an autograph-signing celebrity still not quite illustrative enough? Require, perhaps, a dollar figure? Or a ranking that shows the Pershing Square chief taking his rightful place among the GREATEST HEDGE FUND MANAGERS OF ALL TIME? We can do […]

    / Jan 27, 2015 at 3:16 PM
  • Hedge Funds

    Mathew Martoma’s ‘Victims’ To Split $602M Of Steve Cohen’s Money

    Which Steve is OK with, just as long as you don’t use the “V” word.

    / Jan 27, 2015 at 3:13 PM
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    Opening Bell

    Opening Bell: 1.27.15

    Goldman Sachs’s Cohn Says Oil Prices May Hit $30 in Extended Slump (Bloomberg) Oil prices will probably continue to decline and could reach as low as $30 a barrel, according to Gary Cohn, president of Goldman Sachs Group Inc. “We’re probably in the lower, longer view,” Cohn, a former oil trader, said Monday in an […]

    / Jan 27, 2015 at 9:30 AM
  • Write-Offs

    Write-Offs: 1.26.15

    $$$ Blizzard Set to Bring New York, Northeast to a Standstill [Bloomberg] $$$ Here’s What the Blizzard Is Shutting Down [BusinessWeek] $$$ Russia Rating Cut to Junk by S&P as Ukraine, Oil Weigh on Growth [Bloomberg] $$$ Greece Must Repay Debt, Europe Officials Say [WSJ] $$$ Judge: You cannot name your baby ‘Nutella’ [NYP]

    / Jan 26, 2015 at 7:43 PM
  • Screen Shot 2015-01-26 at 4.34.41 PM

    News

    Great News: Technology Has Advanced Since 1996

    Back when the business of buying and selling stocks depended on human traders gathering in the same physical location — the New York Stock Exchange in lower Manhattan, for instance — a major snow storm could snarl commutes so badly that exchanges had to shut. That’s what happened during the blizzard of January 1996, which […]

    / Jan 26, 2015 at 4:35 PM
  • steve cohen

    News

    Steve Cohen Will Tell The SEC What The Terms Of His Ban On Outside Money Should Be

    At some point last year, after he had settled insider trading charges against his firm, the hedge fund formerly known as SAC Capital, Steve Cohen began exhibiting signs of man who felt, if not contrite, than contrite-lite. He agreed to rename his company, stripping his initials from all letterhead, fleece, and signage. He started paying […]

    / Jan 26, 2015 at 3:08 PM
  • News

    Here Are Some Other People Pretty OK With The Swiss National Bank

    The survivors of the Swiss cap-scrapping are beginning to emerge from the rubble of Bern and Zürich into a brave new world, with great big smiles on their faces.

    / Jan 26, 2015 at 12:51 PM
  • Hedge Funds

    No One Trashes Louis Bacon For 10 Years And Gets Away With It

    For a decade, Moore Capital Management founder Louis Bacon has endured smear after smear on the part of his Bahamas neighbor, Canadian fashion mogul Peter Nygard: That he’s a racist, and possibly even a top-secret Grand Wizard of the KKK. That he’s a narcotics kingpin. That he’s trying to take over the government of the […]

    / Jan 26, 2015 at 12:00 PM
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    Opening Bell

    Opening Bell: 1.26.15

    Greece Must Repay Debt, Europe Officials Say (WSJ) Europe’s establishment moved quickly on Monday to douse hopes it would relax the terms of Greece’s bailout following the commanding victory by antiausterity leftists in its election, insisting that Athens honor its commitments. “We believe Greece has accepted terms that are not off the table after the […]

    / Jan 26, 2015 at 9:30 AM
  • News

    Write-Offs: 1.23.15

    $$$ Morgan Stanley Gives Gorman $4.44 Million Stock Bonus for 2014 [Bloomberg] $$$ Oil Falls as New Saudi King Says Policies Won’t Change [Bloomberg] $$$ “The Catfight Between CNBC And Fox Business At Davos Has Gotten Out Of Control” [BI] $$$ Harvard Business School Dean Fights to Keep M.B.A. Relevant [WSJ] $$$ Leaders in Davos […]

    / Jan 23, 2015 at 5:45 PM
  • News

    This Is Why You Pay Your Lawyers And Don’t Ask Questions (JP Morgan Edition)

    Ed. note: This is a weekly column by Elie Mystal, Managing Editor of Above the Law Redline, wrapping up the week that was in law and finance. Elie is not a practicing attorney, and anything he says that you listen to can and will be used against you. So we’re all having fun today with […]

    / Jan 23, 2015 at 4:46 PM
  • News

    Preet Bharara Doesn’t Need This Right Now

    The last six weeks have not been the best of Preet Bharara’s life. But he’s used them profitably, moving through most of the five stages of grief after the U.S. Second Circuit Court of Appeals basically torpedoed his life’s work vis-à-vis insider-trading. Indeed, after a black start to the new year, Preet was starting to […]

    / Jan 23, 2015 at 3:39 PM
  • lucarelli

    News

    Investor Relations Exec Convicted Of Insider Trading Has Above Average Driving Skills To Fall Back On

    The 52-year-old said his inside trading was fueled by drugs and resentment of the Midtown firm, which he said owed him money on commissions. “I didn’t take the drugs to get high, I did it because I can’t drink coffee — that’s a painful trip to the bathroom,” Lucarelli said…Lucarelli, occasionally tearing up, now lives […]

    / Jan 23, 2015 at 2:48 PM
  • dimon_blankfein

    News

    Bonus Watch ’15: Jamie Dimon, Lloyd Blankfein Finally Catch A Break

    Their performance reviews must have gone really well.

    / Jan 23, 2015 at 2:31 PM
  • News

    At Least A Few People Loving Swiss National Bank Chief Right About Now

    If there are any of you left after three straight years of losses from 2011 to 2013, you’re among the very few who hold Swiss National Bank President Thomas Jordan in high regard right now.

    / Jan 23, 2015 at 1:46 PM
  • Hedge Funds

    George Soros Is Feeling A Little Blue

    George Soros has been spotted in one of his natural habitats, a certain Swiss ski resort in late January. But have these days in Davos brought a smile to the 84-year-old’s face? The parties, the hob-nobbing, the receipt of genuflections that he lives for? Have they hell. If anything, they’ve turned him into fellow Davos […]

    / Jan 23, 2015 at 1:22 PM
  • chicken wings

    Opening Bell

    Opening Bell: 1.23.15

    High-Frequency Probe’s First Target Is Barclays (Bloomberg) New York Attorney General Eric Schneiderman’s 10-month investigation into high-speed trading has so far led to one big target: Barclays Plc. Almost a year after New York’s top cop made a splash with subpoenas of six high-frequency trading operations, the names of some of these firms cropped up […]

    / Jan 23, 2015 at 9:30 AM
  • Write-Offs

    Write-Offs: 1.22.15

    $$$ Judge Finds Ex-Merrill Trader Hid Millions From Bankruptcy Court [WSJ] $$$ Draghi Commits to Trillion-Euro QE in Deflation Fight [Bloomberg] $$$ Denmark Says It Has ‘Plenty of Kroner’ to Take On Hedge Funds [Bloomberg] $$$ Four months after public ouster, Tinder founder is still CEO [NYP] $$$ Dustin Diamond, ‘Saved by the Bell’ star, […]

    / Jan 22, 2015 at 6:35 PM

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