• News

    Stephen Schwarzman’s Crab Claw Funds At Risk

    Blackstone reported an unexpected third- quarter loss as an 11 percent drop in the value of its buyout holdings forced the reversal of previously booked fees. Economic net income, a measure of earnings excluding some costs tied to the firm’s initial public offering, showed a loss of $341.9 million, or 31 cents a share, compared […]

    / Oct 20, 2011 at 1:05 PM
  • Goldman Sachs, News

    Now Let Us Say Certain Things About DVA

    If you are in the business of selling derivatives you have to value them from time to time, because counterparties want to know what their thing is worth, and regulators want to know how deep in the hole you are. This is not always as easy as valuing a stock by just going out and […]

    / Oct 18, 2011 at 6:39 PM
  • Banks, News

    Goldman Still Long-Term Greedy, Which Is Still Okay

    You could probably think a few things about GS’s earnings released this morning. If you’re an employee, you might gulp nervously at that $292k comp accrual so far and the 1,300 folks whose mastery of the universe became less masterful this quarter. If you’re a shareholder, you have to be modestly pleased with mostly adequate […]

    / Oct 18, 2011 at 1:06 PM
  • Banks

    Vikram Pandit Is Waiting By The Phone

    The New York bank reported third quarter earnings rose 74 percent in the third quarter, to $3.8 billion, due to lower losses from loans and an accounting gain. Its international consumer lending business grew in Asia and Latin America. The bank also decided to keep its credit card partnership with retailers as that business improved…Last […]

    / Oct 17, 2011 at 11:57 AM
  • earnings

    After Exhaustive Analysis, Barclays Reckons That Some Banks May Show A Loss In Q3

    The Brits hate to be the bearers of bad news but if they have to, they have to.

    / Sep 22, 2011 at 2:00 PM
  • News

    Retailer That Specializes In ‘Low Rent Preppy Chic’ Worried Jersey Shore Cast Member Might Negatively Impact Next Quarter Results, Brand

    Abercrombie & Fitch Co. said Wednesday its second-quarter net income rose 64 percent, boosted by higher demand for its preppy fashions in the U.S. and Europe…But like all retailers, Abercrombie & Fitch Co. is facing higher prices of commodities such as cotton during the key back-to-school season. “Costing pressures will be greater in the second […]

    / Aug 17, 2011 at 11:36 AM
  • News

    This Seems Like a Good Idea

    After announcing its largest loss ever, Bank of America said this morning that it plans to reduce Basel III risk-weighted assets by $200 to $250 billion by the end of 2012 (slide 27). On BofA’s call, Glenn Schorr of Nomura asked how that RWA reduction would affect revenues. Bruce Thompson didn’t give an exact answer, […]

    / Jul 19, 2011 at 11:10 AM
  • News

    Jamie Dimon Still Lives In America

    Feisty earnings call from JPMorgan after strong earnings, with surprisingly good performance in fixed income trading and underwriting businesses and a lot of confidence from Jamie Dimon and Doug Braunstein around the appropriateness of mortgage/litigation reserves (especially now that they’ve had a chance to go through R. Kelly’s house and are getting their heads around […]

    / Jul 14, 2011 at 10:39 AM
  • News

    Goldman’s Dirty Word: Trading

    Sssssh. Don’t talk about trading.

    / Apr 19, 2011 at 1:28 PM
  • News

    Lloyd Blankfein, Analysts “Pleased” With Goldman’s First-Quarter Results

    Net income dropped 21 percent but it still beat expectations so high-fives all around!

    / Apr 19, 2011 at 8:33 AM
  • News

    Vikram Pandit’s Birthday Will Be One For The Books

    For those of you who failed to mark it down on your calendars, please be advised that today is Vikram Pandit’s birthday (his 54th to be exact). Normally we’d tell you to drop what you’re doing and pick up something for him A-SAP but this year we’d advise you to go the no presents route. […]

    / Jan 14, 2011 at 9:30 AM
  • News

    Help Us Design The Dollar Dominatrix Action Figure

    Late last week, Bloomberg Markets profiled AQR founder Cliff Asness, who has continued his boyhood “obsession” with comic books and their characters into adulthood. His desk in Greenwich is home to Spiderman, Captain America, The Hulk and Iron Man, he has a Captain America shield on his right bicep and he “identifies with” many a […]

    / Oct 12, 2010 at 3:52 PM
  • News

    Robert Benmosche Loves You All

    As you know, AIG’s fourth quarter results came in– not so good!. In any case, Bobby B. is happy and wants the world to know it. AIG reported a loss of $8.9 billion in the fourth quarter, which is an improvement from the $61.7 billion loss in the year-ago period. And this, my friends, is […]

    / Feb 26, 2010 at 12:59 PM
  • News

    Barclays Chief: Give It Up For Barclays

    Hey hey hey! Who’s psyched about Barclays’ record earnings that were announced today? Anyone? Anyone? Are you? Are you? Bob Diamond certainly doesn’t sense your excitement. Prove it to Bobby D. Show him you’re amped! He needs to feel it. In fact, that’s an order, straight from the top. Raise the fucking roof for the […]

    / Feb 17, 2010 at 12:12 PM
  • News

    We Have Met The Crisis And He Is Us

    The following post is by InfiniteGuest, a regular reader and frequent commenter. It’s earnings season, it’s bonus time, and now that the Angelides Commission has begun holding hearings and legislation is under way to form a permanent resolution authority for troubled financial institutions, the related topics of what caused the financial crisis and how to […]

    / Jan 22, 2010 at 3:00 PM
  • News

    Live-Blogging The Goldman Sachs Call

    10:58 Hold music. “Highway To Hell” vetoed in favor of Beethoven’s Seventh Symphony (I think?). 11:02 Gerald is our “facilitator” today. Everyone say hi Gerald. 11:04 Dane Holmes, 6’8″, 260lbs, takes the mic. Forward looking statements, yada yada yada. 11:06 David Viniar in the house. Goldman made almost $5 billion last quarter, in case you […]

    / Jan 21, 2010 at 10:58 AM
  • News

    Dick Bove and Vikram Will Ride Into the Sunset

    Dick Bove’s weird love story with Citi is one that is complicated and needs a lot of nurturing. Although it will never reach the highs of the one he had with BofA (Ken Lewis was a “visionary and tactician” who “was torn from his post by politicians lacking any of Mr. Lewis’ skills and successes.”) […]

    / Jan 20, 2010 at 11:48 AM
  • News

    Credit Suisse: Stop Us If You’ve Heard This One Before

    7/29: Credit Suisse writes to inform clients that the rumors of suckage are, in fact, true. 8/21: One more time for the cheap seats!

    / Aug 21, 2008 at 12:41 PM

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